By Catherine Thorbecke, CNN Business Apple said Tuesday it would discontinue production of the last iPod model it still sells, effectively bringing an end to the iconic product line that helped usher in a new era for the music industry and the tech giant. Apple said customers can continue to purchase an iPod Touch device
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By Matt Egan, CNN Business Treasury Secretary Janet Yellen addressed the economic consequences of overturning Roe v. Wade on Tuesday during testimony before the Senate Banking Committee. “I believe that eliminating the right of women to make decisions about when and whether to have children would have very damaging effects on the economy and would
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By Brian Fung and Clare Duffy, CNN Business Elon Musk said Tuesday that he would restore former President Donald Trump’s banned account on Twitter if his deal to acquire the company is completed. Musk’s remarks at Financial Times’ Future of the Car conference mark his first public acknowledgment of what had been widely expected since
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By Matt McFarland, CNN Business Tesla recalled 129,960 vehicles this month to fix infotainment systems that may overheat before and during fast charging. Tesla says it is resolving the flaw with an over-the-air software update, which refreshes software wirelessly like a smartphone app update, making the recall less burdensome for Tesla and affected owners. Tesla
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By Alicia Wallace, CNN Business With daily life now the most expensive it’s been in 40 years, single parents say they are running out of places to cut costs. The price of groceries, gas, rent and utilities has marched higher over the past year; but wages have not kept up — and more than half
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By Paul R. La Monica, CNN Business Many investors, including Warren Buffett, are betting that higher crude oil prices are here to stay for a while. It’s a good wager, thanks to the spike in oil prices from about $75 a barrel at the end of last year to above $100 now. Nearly all of
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By Jorge Engels and Karol Suarez Three journalists have been killed in Mexico over the past week according to government officials. Two journalists were killed Monday in the Mexican state of Veracruz, according to the state’s prosecutor’s office, which said it had launched an investigation into the killings. Veracruz’s prosecutor’s office said on Twitter that
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By Frank Pallotta, CNN Business Netflix recently told employees that the the company’s new lower-priced ad tier may come by the end of the year, according to a report from the New York Times Tuesday. The company is struggling as streaming competition heats up: Shares plunged last month after Netflix reported its first quarterly subscriber
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Opinion by Evan Greer for CNN Business Perspectives It’s official: Elon Musk could soon become the king of Twitter. After agreeing to purchase his new crown for some $44 billion, Musk has promised big changes. In truth, no one really knows what Musk will do with Twitter if his bid succeeds. He could make it
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By Jordan Valinsky, CNN Business Kelly Ripa, co-host of “Live With Kelly and Ryan,” revealed that she recently tested positive for Covid-19, forcing her to miss some upcoming shows. Ripa made the announcement on Instagram late Monday, writing that she was diagnosed with the illness this past weekend. “I am taking all necessary precautions and
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By Matt Egan, CNN Business US Treasury Secretary Janet Yellen told lawmakers on Tuesday the Covid-19 pandemic and the war in Ukraine may continue to add turbulence to the world economy. “There is the potential for continued volatility and unevenness of global growth as countries continue to grapple with the pandemic,” Yellen said during a
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By Brian Fung, CNN The dating-app company behind Tinder, OkCupid and Match.com sued Google on Monday, alleging that the technology giant runs an illegal monopoly in the Google Play Store and that its in-app payment policies, including its 30% cut of some in-app purchases, are anticompetitive. The suit by Match Group is the latest antitrust
Continue Reading By Brian Fung, CNN The dating-app company behind Tinder, OkCupid and Match.com sued Google on Monday, alleging that the technology giant runs an illegal monopoly in the Google Play Store and that its in-app payment policies, including its 30% cut of some in-app purchases, are anticompetitive. The suit by Match Group is the latest antitrust
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By Beth Braverman It can be exciting to think about making a big purchase — like putting a down payment on a house, throwing your dream wedding reception, buying a new car or taking a bucket-list vacation. Less exciting: thinking about how to save up for it. But any major expense requires major planning. Taking
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By Frank Pallotta, CNN Business The greatest quarterback in NFL history is going to try to become the greatest announcer in NFL history — once he finally retires, that is. Tom Brady, the seven-time Super Bowl champion for the New England Patriots and Tampa Bay Buccaneers, is heading to Fox Sports once his playing career
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By Nicole Goodkind, CNN Business The age of meme-stock trading has largely come to an end, and the online trading platform that fueled the surge is scrambling to find alternative sources of revenue. Robinhood benefited greatly from meme investors piling into AMC, GameStop and other heavily shorted stocks last year. Ironically, Robinhood now thinks the
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By Julia Horowitz, CNN Business As the recovery from the pandemic took off last year, everything investors touched turned to gold. The US stock market leaped 27%. Bitcoin rocketed to a record high. Commodities like oil and copper soared. Even alternative investments, from trading cards to wine, experienced a boom. Now, the glee of the
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By Matt Egan, CNN Business US Chamber of Commerce CEO Suzanne Clark is pushing back against Senator Elizabeth Warren and others who blame high inflation on dominant corporations. “They’re just plain wrong,” Clark told CNN in a rare interview. “We’ve had decades of low inflation. There wasn’t some magic burst of consolidation in the last
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By Jordan Valinsky, CNN Business Peloton’s turnaround plan can’t happen fast enough: The at-home fitness company continues to lose money — and it’s quickly running out of cash. The once-hot company reported a dismal quarterly financial report Tuesday, with sales tumbling 15% from a year ago. Peloton lost $757 million last quarter. Peloton said it
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By Henry Klapper, CNN Two Russian reporters appeared to post at least 30 articles on Monday that criticized President Vladimir Putin’s invasion of Ukraine. CNN reviewed the articles, which were taken down almost immediately after they were published on a pro-Kremlin news site. Some were pegged to the 77th anniversary of the Soviet Union’s defeat
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