By Chris Isidore, CNN Business Just days before his brother started selling billions of dollars worth of Tesla shares, Kimbal Musk, a Tesla board member, sold $108 million worth of his own stock in the company. The dollar value of his sale is dwarfed by his brother Elon’s sale of $5.7 billion worth of Tesla
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By Frank Pallotta, CNN Business Get ready to have this theme song stuck in your head again. “X-Men: The Animated Series” is coming back. “X-Men ’97,” a reboot of the beloved ’90s children’s show that followed the adventures of Marvel’s favorite mutants, will debut new episodes on Disney+ in 2023. The announcement came Friday during
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By Frank Pallotta, CNN Business Taylor Swift fans entered a state of grace on Friday thanks to the artist re-releasing one of her most beloved albums, 2012’s “Red.” Why would one of the biggest names in music — who is already fairly busy releasing multiple albums over the last year and a half — re-record
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By Ramishah Maruf, CNN Business California gas prices hit an average price of $4.658 a gallon Friday, about a penny short of the highest recorded average price of $4.671 for regular gasoline set in October 2012, according to AAA. America’s largest state by population has the highest gas prices in the country. The national average
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By Jeanne Sahadi, CNN Business You would think the combination of high inflation, a worker shortage and a talent war would be a winning trifecta for any employee who would like to take home a bigger paycheck next year. And many companies are also reporting strong earnings, if not record ones. “Employees are saying, ‘I’ve
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By Paul R. La Monica, CNN Business Breaking up is the newest craze for ginormous global companies. Johnson & Johnson, Toshiba and GE announced plans to split into multiple entities this week. The trend may have only just begun. Conglomerates are big and unwieldy. Wall Street hates them, because it doesn’t know how to value
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By Matt McFarland, CNN Business Rivian’s stock price soared Thursday, a day after its Wall Street debut, valuing the company at more than $100 billion. It also had the biggest American initial public offering since Facebook. Rivian, which plans to deliver about a thousand consumer vehicles by the end of 2021, is worth more than
Continue Reading By Matt McFarland, CNN Business Rivian’s stock price soared Thursday, a day after its Wall Street debut, valuing the company at more than $100 billion. It also had the biggest American initial public offering since Facebook. Rivian, which plans to deliver about a thousand consumer vehicles by the end of 2021, is worth more than
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By David Goldman and Anneken Tappe, CNN Business Surging prices, a labor shortage and a gummed-up supply chain are making Americans uneasy. The consumer sentiment index fell to a decade low in early November data collected by the University of Michigan. The culprit: pandemic-era inflation woes and worry that no policies are in place to
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By Anneken Tappe, CNN Business A record 4.4 million Americans quit their jobs in September as the sheer volume of available jobs is empowering workers to have their pick. Workers are quitting in search for better pay or better jobs, representing a fundamental shift in America’s labor market. “Labor now has the initiative, and the
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By Jordan Valinsky, CNN Business Roughly 100,000 pounds of raw ground chicken patty products, mostly sold at Trader Joe’s, are being recalled. The US Department of Agriculture’s Food Safety and Inspection Service said in a press release that the affected ground chicken might be “contaminated with extraneous materials, specifically pieces of bone.” The Trader Joe’s
Continue Reading By Frank Pallotta, CNN Business Taylor Swift fans entered a state of grace on Friday thanks to the artist re-releasing one of her most beloved albums, 2012’s “Red.” Why would one of the biggest names in music — who is already fairly busy releasing multiple albums over the last year and a half — re-record
Continue Reading By Paul R. La Monica, CNN Business Breaking up is the newest craze for ginormous global companies. Johnson & Johnson, Toshiba and GE announced plans to split into multiple entities this week. The trend may have only just begun. Conglomerates are big and unwieldy. Wall Street hates them, because it doesn’t know how to value
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By Julia Horowitz, CNN Business News that prices for American consumers are rising at the fastest rate in three decades has spooked investors and economists, piling pressure on President Joe Biden and the Federal Reserve to respond more aggressively. What’s happening: Biden and his team are now steeling themselves for high inflation to persist into
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By Chris Isidore, CNN Business Elon Musk sold another block of Tesla shares Thursday. In two additional filings, Musk disclosed early Friday that he had sold another $687.3 million worth of the stock Thursday. That brings his sales of stock for this week to 5.2 million shares for a total of $5.8 billion. Last weekend,
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By Jordan Valinsky, CNN Business Johnson & Johnson, the world’s largest health products company, is splitting up. The company, which traces its roots back to 1886, will break into two: One company will focus on consumer health products customers can buy over the counter, including Benadryl, Band-Aids and Tylenol. The other business will sell prescription
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By Walé Azeez, CNN Business AstraZeneca has booked its first profit from sales of its Covid-19 vaccine. The company sold $2.2 billion worth of the shot in the first nine months of the year. In the quarter ending September 30, the vaccine’s sales totaled $1.05 billion, contributing one cent to earnings per share. Announcing its
Continue Reading By Walé Azeez, CNN Business AstraZeneca has booked its first profit from sales of its Covid-19 vaccine. The company sold $2.2 billion worth of the shot in the first nine months of the year. In the quarter ending September 30, the vaccine’s sales totaled $1.05 billion, contributing one cent to earnings per share. Announcing its
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By Helen Regan and Cape Diamond, CNN Business A military court in Myanmar has sentenced American journalist Danny Fenster to 11 years in prison, his lawyer said on Friday. Fenster, a 37-year-old from Detroit, Michigan, has been detained in Myanmar for more than five months. He has been denied bail and held in Insein Prison,
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By Jordan Valinsky, CNN Business Starbucks lovers can now order Taylor Swift’s favorite drink by saying two simple words. Customers who ask for “Taylor’s Latte” or “Taylor’s Version” will receive the singer’s favorite drink: a grande caramel nonfat latte. This latest collaboration between a fast food chain and a celebrity is being launched to celebrate
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