By Jessie Yeung and Swati Gupta, CNN Anish Yadav was sleeping in his home, a fragile hut made of wood and plastic, when the water rushed in. A concrete retaining wall that had previously held back monsoon floodwaters had collapsed, sending a deluge through Yadav’s slum in Malad, a northern suburb in India’s financial hub
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By Ramishah Maruf, CNN Business GameStop chief operating officer Jenna Owens is leaving the company seven months after joining it, the company said in a regulatory filing. The Texas-based company did not specify why Owens was leaving. The filing said both parties entered a separation agreement which went into effect on October 25. Owens could
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By Ramishah Maruf and Pete Muntean, CNN Business American Airlines canceled hundreds of flights during the weekend, citing bad weather and staffing shortages, the company announced in a statement. Two days of severe winds in Dallas-Fort Worth, its largest hub, sharply reduced its arrival capacity, the company said. Flights were also affected at its Charlotte,
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Vanessa Yurkevich, CNN Business John Deere and the United Auto Workers Union have reached a new tentative agreement, more than two weeks after 10,000 John Deere workers went on strike, both parties announced Saturday. “Our UAW John Deere national bargaining team went back to our local members after the previous tentative agreement and canvassed the
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by Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Fox News is not officially commenting on the record, but it seems the right-wing talk network is quietly trying to distance itself from Tucker Carlson’s 1/6 trutherism. That’s the takeaway
Continue Reading by Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Fox News is not officially commenting on the record, but it seems the right-wing talk network is quietly trying to distance itself from Tucker Carlson’s 1/6 trutherism. That’s the takeaway
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By Sana Noor Haq, CNN Social media users in Israel are mocking Facebook’s company name change to Meta, as it sounds similar to the Hebrew word for “dead.” Many Twitter users scoffed at the social media company’s rebrand — revealed by founder Mark Zuckerberg earlier this week — using the hashtag #FacebookDead. “Somebody did not
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By Sara Ashley O’Brien, CNN Business This week in the criminal trial of Elizabeth Holmes, jurors heard how the billionaire family of former Education Secretary Betsy DeVos eagerly poured nearly $100 million into failed blood-testing startup Theranos after a visit to its Palo Alto headquarters. The DeVos family, whose fortune stems from multilevel-marketing company Amway,
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By Tara Subramaniam, CNN Business One week ago, a consortium of 17 news outlets, including CNN, began publishing a damning series of stories — collectively called “The Facebook Papers” — based on thousands of pages of internal company documents. These documents are disclosures made to the Securities and Exchange Commission and provided to Congress in
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By Julia Horowitz, CNN Business The people who made their fortunes in the oil capital of Europe need a new plan. For decades, Aberdeen, a port city on Scotland’s northeast coast, has served as the commercial gateway to the North Sea, where powerful companies have navigated deep and dangerous waters to extract tens of billions
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By Ramishah Maruf, CNN Business Billionaire Charlie Munger is bankrolling the design of a massive dormitory at the University of California, Santa Barbara. The $1.5 billion project comes with a major catch — 94% of the dorm’s single occupancy rooms are in the interior of the building, and have no windows. A consulting architect on
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By Paul R. La Monica, CNN Business October may be notorious for big market crashes. But this month was more of a Rocktober than Shocktober for stocks. Despite some notable drops in big techs Friday following disappointing sales from Apple and Amazon, the broader market still finished October with healthy gains. The Dow closed about
Continue Reading By Paul R. La Monica, CNN Business October may be notorious for big market crashes. But this month was more of a Rocktober than Shocktober for stocks. Despite some notable drops in big techs Friday following disappointing sales from Apple and Amazon, the broader market still finished October with healthy gains. The Dow closed about
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By Nathaniel Meyersohn, CNN Business Amazon’s rise has been relentless for more than a decade, with regulators and rivals alike failing to slow it. But now Amazon has taken a hit from a pair of immovable forces: snarled supply chains and worker shortages. The company’s third-quarter earnings and sales fell well short of Wall Street’s
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By Sean Lyngaas, CNN Business A Minnesota man has been charged with hacking into computer systems used by Major League Baseball and trying to extort the league for $150,000, the US Attorney’s Office of the Southern District of New York said Thursday. In emails with an MLB executive, Joshua Streit, 30, threatened to publicize the
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By Chris Isidore, CNN Business Profits soared at the nation’s two largest oil companies, as ExxonMobil and Chevron both benefited from the recent run-up in oil prices. ExxonMobil, America’s largest oil company, posted net income of $6.8 billion, swinging to a profit after a $680 million loss a year ago. Oil prices got crushed in
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Walé Azeez, CNN Business The United Kingdom is pushing ahead with legislation that will force more than 1,300 of its largest companies to disclose climate risks. Announcing the move ahead of the COP26 climate talks that start in Glasgow on Sunday, the UK government said it plans to be the first major economy to require
Continue Reading By Matt Egan, CNN Business Oil prices are unlikely to stay elevated for long, Chevron’s chief financial officer told CNN. “This feels more cyclical than structural,” Pierre Breber, the CFO of Chevron, the No. 2 US oil company, said in a phone interview. “We view these prices as above mid-cycle and above what our price
Continue Reading By Rishi Iyengar, CNN Business In early 2019, a team of Facebook’s researchers spent two weeks interviewing 30 users across two Indian cities, Jaipur and Hyderabad. The goal: to learn about their experiences with misinformation and fact-checking on its platforms. The fact-finding mission, which was described by one of the researchers in an internal document
Continue Reading By Chris Isidore, CNN Business Profits soared at the nation’s two largest oil companies, as ExxonMobil and Chevron both benefited from the recent run-up in oil prices. ExxonMobil, America’s largest oil company, posted net income of $6.8 billion, swinging to a profit after a $680 million loss a year ago. Oil prices got crushed in
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