By Hanna Ziady and James Frater, CNN Business Soaring energy prices are a stark reminder of how dependent Europe is on fossil fuels and should serve to accelerate the shift towards renewable forms of energy. “This experience today of the rising energy prices is a clear wake up call… that we should accelerate the transition
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By Anneken Tappe, CNN Business The US government is stepping up its efforts to relieve the supply chain nightmare that has led to shortages of some goods, higher prices for consumes and now threatens to slow the economic recovery. The White House will work with companies and ports on a “90-day sprint” to alleviate bottlenecks,
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By Julia Horowitz, CNN Business The shift to clean energy is sending the oil industry into decline. But the world needs a much more ambitious plan to save the climate and achieve net-zero emissions by 2050. That’s according to the International Energy Agency, which said in its global energy outlook published Wednesday that more aggressive
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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. Netflix has — once again — changed the game. When the company began to expand internationally, it exported Hollywood-made films and TV shows to other countries. Now, about a decade
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By Chris Isidore, CNN Business A federal judge in Texas has temporarily stopped United Airlines’ plan to put employees on leave if they have requested an exemption to the company’s Covid vaccine mandate. Roughly 2,000 out of the 67,000 US United employees, or less than 3%, requested an exemption from the mandate for religious or
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Opinion by Mark Zandi for CNN Business Perspectives Congress just punted the decision on the nation’s debt limit until the end of this year, and financial markets are relieved. But it will still remain an existential threat to the financial system and economy, given that lawmakers regularly tie themselves into knots to circumvent it. Since
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By Rob McLean, CNN Business Hasbro chairman and CEO Brian Goldner has died, according to the company. His death comes shortly after Hasbro announced he would take a leave of absence for cancer treatment. “Since joining the Company more than two decades ago, Brian has been the heart and soul of Hasbro,” said the company’s
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By Frank Pallotta and Liz Kang, CNN Business “Squid Game” — a fictional drama from South Korea — is Netflix’s “biggest-ever series at launch,” the streaming company exclusively told CNN on Tuesday. The dystopian series, in which contestants who are deeply in need of money play deadly children’s games to win cash prizes, has been
Continue Reading By Frank Pallotta, CNN Business “Squid Game” — a fictional drama from South Korea — is Netflix’s “biggest-ever series at launch,” the streaming company exclusively told CNN on Tuesday. The dystopian series, in which contestants who are deeply in need of money play deadly children’s games to win cash prizes, has been viewed by 111
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By Jeanne Sahadi, CNN Business As any working mother will attest, trying to fulfill all work and family obligations every single day can seem impossible. “Work-life balance is a lie,” said TIAA president and CEO Thasunda Brown Duckett at Fortune’s Most Powerful Women’s Summit on Tuesday. When she tried achieving a more balanced lifestyle, Duckett
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By Anna Bahney, CNN Business Since the pandemic began, demand among homebuyers has far exceeded the supply of available homes, causing real estate prices to skyrocket. But as high as prices are, they have yet to peak, according to a new report from Goldman Sachs. The investment bank projects that home prices — already at
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By Chris Isidore, CNN Business Corporate America cheered last month when President Joe Biden announced plans to require most larger businesses to mandate Covid vaccines or weekly tests for their workers, So Texas Gov. Greg Abbott’s order prohibiting businesses from enforcing a vaccine mandate on their Texas-based employees puts companies in a difficult position. Many
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by Matt Egan, CNN Business Computer chip shortages. Epic port congestion. And a serious lack of truck drivers. The world’s delicate supply chains are under extreme stress. The supply chain nightmare is jacking up prices for consumers and slowing the global economic recovery. Unfortunately, Moody’s Analytics warns supply chain disruptions “will get worse before they
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By Matt McFarland, CNN Business Waymo says its self-driving vans have given tens of thousands of rides since the company launched a public robotaxi service in Chandler, Arizona a year ago. CNN Business tested Waymo’s service this month and spoke with eight Waymo customers who have used the service over the past year. They say
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By Matt Egan, CNN Business A record 4.3 million people quit their jobs in August, evidence of the considerable leverage workers have in today’s economy. About 2.9% of the workforce quit in August, up from 2.7% in July, according to the Job Openings and Labor Turnover Survey (JOLTS) report, released Tuesday. That marks the highest
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By Rishi Iyengar, CNN Business Apple is gearing up for its second big product launch event of the fall. Apple will host a virtual event on October 18, the company announced Tuesday. According to the Apple rumor mill, the company is likely to use the event to release an updated version of its high-end MacBook
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By Paul R. La Monica, CNN Business The Duke and Duchess of Sussex continue to expand their business empire. Prince Harry and Meghan Markle are partnering with a firm that helps create portfolios focused on sustainable investments. Harry and Meghan are working with Ethic, a five-year-old firm that promotes investing in companies with good environmental,
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By Hanna Ziady, CNN Business Ryanair is refusing to carry passengers who were refunded by credit card companies for flights they did not take because of coronavirus lockdowns. The measure affects passengers who purchased non-refundable tickets for Ryanair flights that operated as scheduled during the pandemic but were unable or unwilling to fly because of
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By Hanna Ziady, CNN Business The global economic recovery from the coronavirus pandemic is weakening and risks are rising, according to the International Monetary Fund. The IMF on Tuesday slashed its 2021 growth forecast for the United States by one full percentage point to 6%, the biggest reduction suffered by any G7 economy in its
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By Chris Isidore, CNN Business General Motors will be getting $1.9 billion from its battery supplier LG to cover most of the cost of the expensive recall of the Chevrolet Bolt after a series of fires. GM is recalling 143,000 Bolts, which represents most of the Bolts sold since the electric car debuted in 2016.
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