By Julia Horowitz, CNN Business SPACs started out the year with a bang that soon became a fizzle. But don’t count the Wall Street fad out just yet. What’s happening: Grab is set to start trading Thursday on the Nasdaq after raising $4.5 billion, giving the Singaporean startup a market value of nearly $40 billion.
Continue Reading
By Nathaniel Meyersohn, CNN Business Few companies have gained more of an advantage during the pandemic than America’s warehouse club giants. During the early days of Covid, shoppers flooded into Costco, BJ’s and Sam’s Club — which were deemed “essential” businesses and stayed open through lockdowns — to load up on groceries and household staples
Continue Reading
By Danielle Wiener-Bronner, CNN Business It may be harder to find deals in the grocery store these days. Flashfood wants to help fix that, while also preventing food waste. Here’s how it works: The Flashfood app shows which grocers in your area have partnered with the startup. Once you click into the store, you can
Continue Reading
By Michelle Toh, CNN Business The Southeast Asian unicorn Grab had a rough first day on Wall Street. The Singaporean startup closed down nearly 21% Thursday as it began trading on New York’s Nasdaq. Grab went public by merging with a special-purpose acquisition company, or SPAC. The deal — in which Grab raised $4.5 billion,
Continue Reading
By Danielle Wiener-Bronner, CNN Business DoorDash is jumping on the speedy delivery trend. Starting Monday, the company is offering 10- to 15-minute delivery in New York City from a new Dashmart, which stocks groceries, household goods and packaged restaurant products. Customers within the delivery zone will see the new option under a “convenience” tab in
Continue Reading
By Jack Guy, Lauren Kent and Max Foster, CNN Business Meghan, Duchess of Sussex, has won the latest round of a prolonged privacy battle with the publisher of the Mail on Sunday. A UK court on Thursday dismissed an appeal brought by Associated Newspapers Limited (ANL) against a previous judgment that the duchess had a
Continue Reading
By Diksha Madhok, CNN Business Uber wants to make booking a ride in India as easy as sending a WhatsApp message. The San Francisco-based company has partnered with Meta to launch a ride booking ability via its WhatsApp service in India, the two tech firms said in a statement on Thursday. The integration — the
Continue Reading
By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. One of President Biden’s many fights right now is a fight against perceptions: Of economic peril, a never-ending pandemic, and his own political weakness. In recent speeches, he is issuing
Continue Reading
By Manveena Suri and Rhea Mogul, CNN India has formally repealed three contentious farm laws that sparked more than a year of protests, nearly two weeks after Prime Minister Narendra Modi was pushed into a rare policy reversal that saw the legislation withdrawn. The country’s President Ram Nath Kovind signed a bill repealing the laws
Continue Reading
By Sean Lyngaas, CNN The Los Angeles chapter of Planned Parenthood suffered a ransomware attack in October that compromised the personal information of about 400,000 patients, the health care provider said Wednesday. The unidentified perpetrator stole documents from the Planned Parenthood affiliate that contained sensitive data on some patients such as their insurance information, their
Continue Reading
By Rishi Iyengar, CNN Business Days after Jack Dorsey resigned as CEO of Twitter, his other company is changing its name. Square, the digital payments company Dorsey co-founded and remains at the helm of, announced on Wednesday that it is rebranding as “Block.” Block will represent the corporate parent of Square, which will remain the
Continue Reading
By Brian Fung, CNN Individual users, not tech platforms, shoulder the responsibility for the spread of misinformation online, according to Andrew Bosworth, a top exec at Meta, the company formerly known as Facebook. In an interview over the weekend with Axios on HBO, Bosworth said it is not up to Meta to stifle the views
Continue Reading By Carma Hassan, Michelle Watson, CNN Business Prominent Christian televangelist and anti-vaccine advocate Marcus Lamb died after being hospitalized with Covid-19, his family announced Tuesday. Lamb founded Christian television network Daystar Television Network in 1997. His wife Joni Lamb, announced the televangelist’s death on Daystar’s program streamed to Facebook Tuesday. She said her husband had
Continue Reading
By Rishi Iyengar and Sara Ashley O’Brien, CNN Business The high-profile criminal fraud trial of Theranos founder Elizabeth Holmes will officially resume in 2022. The jury of eight men and four women concluded their deliberations for the year on Wednesday, capping off their second week with the case without reaching a verdict. Deliberations, which have
Continue Reading By Sara Ashley O’Brien, CNN Business When Elizabeth Holmes got wind that then-Wall Street Journal reporter John Carreyrou was working on a damning expose that would publish in October 2015 about her blood testing startup Theranos, she went straight to the top in an effort to get the story killed. Holmes, who is on trial
Continue Reading
By Oliver Darcy, CNN Business Lara Logan, a Fox News personality and host on the network’s streaming service, appeared on Wednesday to stand by her widely condemned comparison of Dr. Anthony Fauci to an infamous Nazi doctor — all while the right-wing channel remains silent about the matter. Logan tweeted a number of articles about
Continue Reading
By Oliver Darcy, CNN Business Dr. Anthony Fauci on Thursday night called out Fox News for staying silent after one of its personalities and streaming hosts, Lara Logan, compared him to an infamous Nazi doctor. Speaking on MSNBC with host Chris Hayes, Fauci said, “What I find striking, Chris, is how she gets no discipline
Continue Reading
By Donie O’Sullivan, CNN Business Meta, the company formerly known as Facebook, says it has evidence the Belarusian KGB used fake accounts to pose as journalists and activists to stoke tensions about the crisis at the border between Belarus and Poland. “These fictitious personas posted criticism of Poland in English, Polish, and Kurdish, including pictures
Continue Reading
By Paul R. La Monica, CNN Business What’s in your wallet? If you’re a Capital One customer, it might soon be more money: The company will be the first large bank to eliminate overdraft charges. Capital One made the announcement Wednesday, saying is it getting rid of all fees for overdrafts and non-sufficient funds. It
Continue Reading By Walé Azeez, CNN Business Google will ban political advertising on its platforms in the Philippines as the country prepares for elections in May. The company said on Wednesday that it will stop ads running “during an election campaign period or a silence period” in the run-up to the vote. Google considers election ads as
Continue Reading