By Paul R. La Monica, CNN Business If you’ve been hurt by the volatile moves in bitcoin lately, you’re in good company. Tesla, run by the world’s richest person, Elon Musk, has been hit by the crypto craziness too. The EV maker disclosed in its annual report to the Securities and Exchange Commission that it
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By Julia Horowitz, CNN Business Politicians are under huge pressure to fight inflation as a rapid uptick in prices hits consumers’ wallets and offsets wage hikes. That could fuel a tougher stance from regulators on mergers, as leaders like US President Joe Biden try to show they’re on the side of anxious voters. “This administration,
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Opinion by Christopher Leonard for CNN Business Perspectives Even the smartest Wall Street investors don’t know if markets will be up or down tomorrow, but they do seem to agree on one thing: The coming year will be a wild and dangerous ride. The roller coaster is already underway. Over the course of one day,
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By Chris Isidore, CNN Business Spirit and Frontier Airlines on Monday announced a $6.6 billion merger, a combination of low-fare carriers that would create America’s fifth-largest airline. The companies have yet to say what brand they’ll fly under or who would lead management of the new airline. The combined company would offer more than 1,000
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By Julia Horowitz, CNN Business Peloton has a target on its back. The company’s exercise bikes were a huge hit early in the pandemic. Now, it’s struggling to maintain its growth as people spend more time outside their homes — and would-be buyers are circling. What’s happening: Peloton’s stock gained 17% on Monday following reports
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By Michelle Toh, Nectar Gan, and CNN’s Beijing bureau, CNN Business “Fight Club” is almost back to its original state in China. As of Monday, the film’s ending has largely been restored on the popular Chinese streaming platform Tencent Video, after fans complained in late January about the complete removal of the iconic final scene.
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By Oliver Darcy, CNN Business Daniel Ek, the chief executive of Spotify, addressed Joe Rogan’s past use of racial slurs on Sunday night, telling staff in a memo that while he found the comments “incredibly hurtful” and inconsistent with company values, he did not believe “silencing” the podcaster was the answer. Ek’s comments come as
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By Ramishah Maruf, CNN Lawmakers are trying to find a solution to two intertwined trends: the rise of Big Tech and the decimation of local news. Sen. Amy Klobuchar chaired a hearing on Capitol Hill last week to address the challenge, and is advancing legislation that would attempt to give local news outlets more leverage
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By Paul R. La Monica, CNN Business Stocks tumbled sharply in January and the market has remained choppy in February. There are worries globally about earnings, inflation, interest rates and Omicron. But some market experts think investors shouldn’t be too concerned. Why? Volatility is normal. And market corrections, defined as a 10% pullback from a
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By Parija Kavilanz, CNN Business Frustrated shoppers are already dealing with unpredictable product shortages and empty shelves at their favorite grocery stores. But if they’re hoping to pivot to a neighborhood convenience store to fill in some everyday necessities, they might be out of luck there, too. Convenience stores typically serve as an ideal substitute
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By Swati Gupta, CNN Lata Mangeshkar, the “nightingale of India” who gave her voice to Indian movies for more than 70 years, was honored at a state funeral Sunday, after she passed away at the age of 92. “Lata Di died at 8:12 a.m. due to multi-organ failure after over 28 days of Covid-19 diagnosis,”
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By Ramishah Maruf and Brian Stelter, CNN Joe Rogan issued an apology on Instagram Saturday after a compilation of the podcaster frequently using the n-word on his podcast spread widely on social media. Rogan used the word more than 20 times in the clips from different podcast episodes, which he said were compiled over a
Continue Reading Reuters Peloton Interactive Inc has drawn interest from potential buyers including e-commerce giant Amazon, according to a person familiar with the matter, as the exercise bike maker struggles to maintain pandemic-fueled growth. Shares of Peloton surged 30% in extended trading on the news, which comes days after activist investor Blackwells Capital urged the company’s board
Continue Reading By Oliver Darcy, CNN Business Daniel Ek, the chief executive of Spotify, addressed Joe Rogan’s past use of racial slurs on Sunday night, telling staff in a memo that while he found the comments “incredibly hurtful” and inconsistent with company values, he did not believe “silencing” the podcaster was the answer. Ek’s comments come as
Continue Reading By Ramishah Maruf and Brian Stelter, CNN Joe Rogan issued an apology on Instagram Saturday after a compilation of the podcaster frequently using the n-word on his podcast spread widely on social media. Rogan used the word more than 20 times in the clips from different podcast episodes, which he said were compiled over a
Continue Reading By Ramishah Maruf and Brian Stelter, CNN Joe Rogan issued an apology on Instagram Saturday after a compilation of the podcaster frequently using the n-word on his podcast spread widely on social media. Rogan used the word more than 20 times in the clips from different podcast episodes, which he said were compiled over a
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By Alicia Wallace, CNN Business As America seeks to train workers for the hundreds of thousands of new infrastructure jobs that are being created, it will have to lean heavily on community colleges. But these workhorses of workforce development are facing some infrastructure issues of their own. Pandemic-related declines in enrollment, particularly in hands-on skilled
Continue Reading By Alicia Wallace, CNN Business As America seeks to train workers for the hundreds of thousands of new infrastructure jobs that are being created, it will have to lean heavily on community colleges. But these workhorses of workforce development are facing some infrastructure issues of their own. Pandemic-related declines in enrollment, particularly in hands-on skilled
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By Jackie Wattles Video by Gabe Ramirez Tim Ellis, an unassuming 31-year-old with glasses who shuffles around his sprawling rocket factory in designer sneakers, has what every space company founder longs for: a seemingly endless well of investors willing to pour money into his company. Relativity Space, the rocket startup Ellis co-founded in 2015 after
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By Jackie Wattles, CNN Business Up to 40 of SpaceX’s Starlink satellites are expected to fall out of orbit thanks to some inopportune timing: The company launched the satellites directly into a solar storm. A batch of 49 Starlink internet satellites were on SpaceX’s latest launch on February 3, and now the company is expecting
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