By Frank Pallotta, CNN Business Spotify CEO Daniel Ek addressed the controversy around comedian and podcast host Joe Rogan on Wednesday, saying that the company is “trying to balance creative expression with the safety of our users.” “Of course, this is a very complicated issue,” Ek said in the company’s post-earnings call on Wednesday. “But
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By Clare Duffy, CNN Business Facebook rattled investors on Wednesday by posting a rare profit decline, driven by the company’s heavy spending on its vision for a so-called metaverse while simultaneously confronting advertising challenges on its existing services. The company, formerly known as Facebook, posted net income of nearly $10.3 billion in the final three
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By Matt Egan, CNN Business Natural gas futures soared Wednesday as energy markets brace for a powerful winter storm that threatens to derail production just as demand rises. The latest spike will keep home heating costs for millions of Americans elevated, adding to a long list of inflationary headaches. Natural gas futures surged 16% Wednesday
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By Matt McFarland, CNN Business A German teenager says he found a vulnerability in an app installed in some Teslas, which allowed him the ability to unlock doors, flash headlights and blast music. The hack highlights the relative lack of oversight in apps that some drivers can download to their cars. David Colombo identified a
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By Brian Stelter and Oliver Darcy, CNN Business Discovery CEO David Zaslav praised CNN on Friday and said “news is going to be really critical” to the future of the soon to be combined Warner Bros. Discovery, despite the sudden ouster of CNN boss Jeff Zucker earlier this week. “CNN has the greatest group of
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By Paul R. La Monica, CNN Business Omicron, inflation and a lack of government stimulus have some Venmo users nervous about spending money from their digital wallets. That’s bad news for Venmo owner PayPal — and a potential warning sign for consumer spending in general. PayPal executives warned during the company’s earnings call with analysts
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By Jordan Valinsky, CNN Business Wendy’s is expanding its breakfast menu for the first time since launching it nearly two years ago. Beginning February 8, the chain is adding a Hot Honey Chicken Biscuit, a fried chicken cutlet that’s drizzled with hot honey sauce infused with habanero pepper and served on a buttermilk biscuit for
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By Danielle Wiener-Bronner, CNN Business Starbucks has been hiking prices as inflation soars and labor costs rise. And it’s planning more this year. The coffee chain raised its US prices in October and again just last month in January, CEO Kevin Johnson noted during an analyst call Tuesday. He added that the company is planning
Continue Reading By Danielle Wiener-Bronner, CNN Business Starbucks has been hiking prices as inflation soars and labor costs rise. And it’s planning more this year. The coffee chain raised its US prices in October and again just last month in January, CEO Kevin Johnson noted during an analyst call Tuesday. He added that the company is planning
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By Brian Stelter and Oliver Darcy, CNN Business CNN Worldwide president Jeff Zucker, the influential news executive who reshaped the iconic network, announced Wednesday morning that he has resigned from his position effective immediately. Zucker’s stunning announcement came less than two months after he fired prime time anchor Chris Cuomo for improperly advising his brother,
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By Paul R. La Monica, CNN Business Big Wall Street firms enjoyed a stellar 2021 thanks to a booming stock market and a frenzy of mergers and initial public offerings. Bankers and CEOs are reaping the rewards. Goldman Sachs announced in its fourth quarter earnings report last month that it set aside $17.7 billion for
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By Charles Riley, CNN Business Here’s one big reason oil prices are near a seven-year high: OPEC and Russia are producing less than they promised. The Organization of the Petroleum Exporting Countries and 10 other major crude oil producers, including Russia, have been gradually increasing their output after taking 9.7 million barrels per day out
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By Anneken Tappe, CNN Business Omicron threw a wrench into America’s economy at the start of 2022: The US private sector lost hundreds of thousands of jobs in January, according to Wednesday’s ADP Employment Report. The loss of 301,000 private-sector positions came as a surprise to economists who had predicted businesses had added 207,000 jobs.
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Opinion by Rhonda Sideris and Heleena Sideris for CNN Business Perspectives Like many other businesses, we’ve been through our fair share of challenges running our Park City, Utah vacation rental company during the pandemic. We’ve sacrificed millions of dollars in revenue by honoring generous cancellation policies for guests and keeping properties vacant for a day
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By Samantha Murphy Kelly, CNN Business Aaron Hommell bought his 3G iPhone 5 in 2014 and kept it for more than seven years, holding onto it even after the screen cracked and a long list of faster models hit the market. Then a year ago, AT&T began sending him emails that the company would be
Continue Reading By Samantha Murphy Kelly, CNN Business Aaron Hommell bought his 3G iPhone 5 in 2014 and kept it for more than seven years, holding onto it even after the screen cracked and a long list of faster models hit the market. Then a year ago, AT&T began sending him emails that the company would be
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By Ivana Kottasová and Angela Dewan, CNN The European Commission is coming under criticism after unveiling a long-delayed proposal to designate natural gas and nuclear power “sustainable” sources of energy Wednesday. Including the energy sources on the EU’s green list could unlock a wave of private investment into new nuclear and gas projects. But the
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By Julia Horowitz, CNN Business Not everyone has thousands of dollars on hand to purchase a single share of Google. Soon, investors won’t have to. What’s happening: Google parent Alphabet, the third largest public company in the United States, announced after markets closed on Tuesday that it will execute a 20-for-1 stock split in mid-July,
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By Jordan Valinsky, CNN Business US airlines have canceled thousands of flights for Wednesday and Thursday as a powerful winter storm packing ice, rain, sleet and snow is stretching from the Midwest to the South. For Wednesday, Chicago O’Hare, a United and American Airlines hub, is the most affected airport with 364 cancellations, according to
Continue Reading By Jordan Valinsky, CNN Business US airlines have canceled nearly 3,000 flights combined for Wednesday and Thursday as a powerful winter storm packing ice, rain, sleet and snow is stretching from the Midwest to the South. For Wednesday, Chicago O’Hare, a United and American Airlines hub, is the most affected airport with 164 cancellations, according
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