By Oliver Darcy, CNN Business Rupert Murdoch, the Fox Corporation chairman, is set to be deposed next week in Dominion Voting System’s $1.6 billion lawsuit against Fox News over its coverage of election fraud in the 2020 election. The deposition will take place on December 13 at 9:30am ET and “will be conducted remotely, under
Continue Reading By Brian Fung, CNN Facebook owner Meta threatened to remove news content from its platforms on Monday following reports that US lawmakers have added controversial legislation favoring news media to the annual defense authorization bill. The warning highlights the danger that Meta perceives to its business model in the face of the proposed bill, known
Continue Reading By Brian Fung, CNN A threat by Facebook owner Meta to remove news content from its platforms appears to have been averted — for now — after US lawmakers omitted an antitrust bill it opposed from the text of an annual defense spending bill released late Tuesday evening. Meta had warned on Monday that if
Continue Reading By Matt Egan, CNN Slower hiring. Weaker spending. And softer growth. That’s what America’s CEOs are bracing for as the economy heads into 2023 facing a series of obstacles. The Business Roundtable said Monday its CEO Economic Outlook Index tumbled during the fourth quarter to the lowest level in more than two years. The index,
Continue Reading By Parija Kavilanz, CNN Business The Laundress brand of detergent and household cleaning products has recalled about eight million products because of the possible presence of bacteria that could pose a health risk to consumers. The recalled items, manufactured by the pricey boutique brand between January 2021 and September 2022, include its laundry detergents, fabric
Continue Reading By Kevin Dotson, CNN Nike cut ties with Brooklyn Nets guard Kyrie Irving Monday. The move comes after Irving posted a Twitter link to a documentary containing antisemitic messages in October and initially refused to issue an apology. “Kyrie Irving is no longer a Nike athlete,” Nike tells CNN. Irving’s agent and stepmother Shetellia Riley
Continue Reading By Brian Fung, CNN Apple and Google’s continued hosting of TikTok on their app stores, despite US national security concerns about the short-form video app, reflects the tech giants’ “gatekeeper” power and should be made part of any antitrust reviews the app stores may face, a member of the Federal Communications Commission wrote to the
Continue Reading By Brian Fung, CNN Apple and Google’s continued hosting of TikTok on their app stores, despite US national security concerns about the short-form video app, reflects the tech giants’ “gatekeeper” power and should be made part of any antitrust reviews the app stores may face, a member of the Federal Communications Commission wrote to the
Continue Reading By Samantha Murphy Kelly, CNN Business Imagine if Siri could write you a college essay, or Alexa could spit out a movie review in the style of Shakespeare. OpenAI last week opened up access to ChatGPT, an AI-powered chatbot that interacts with users in an eerily convincing and conversational way. Its ability to provide lengthy,
Continue Reading By Peter Valdes-Dapena, CNN Business Hertz will pay $168 million to settle 364 claims related to the company falsely reporting rental cars as stolen. These cases sometimes resulted in people being arrested and even imprisoned. One lawsuit involving dozens of such cases alleged systemic flaws in Hertz’s reporting of thefts, including not recording rental extensions,
Continue Reading By Matt Egan, CNN Business Republicans and Democrats are likely to clash next year over the debt ceiling, a fight that could rock financial markets, unnerve consumers and threaten the economy with the specter of a calamitous default. The looming debt limit battle in Washington could spark the most uncertainty since the 2011 brinksmanship that
Continue Reading By Nathaniel Meyersohn, CNN Business Self-checkout arrived in the late 1980s at supermarkets. A decade later, it began spreading to big-box chains and drug stores. Now, self-checkout, loved by some and hated by others, has entered discount clothing and department stores. Kohl’s is testing self-checkout stations at a handful of stores. H&M added them at
Continue Reading By Oliver Darcy, CNN Amy Robach and T.J. Holmes, co-hosts of ABC News’ “GMA 3,” have been taken off the air following the public disclosure of a romantic relationship, network President Kim Godwin announced to staffers on Monday morning, according to a person familiar with the matter. “I’m going to talk about something that has
Continue Reading By Jennifer Korn, CNN BlocPower, a Brooklyn-based clean energy company, is bringing eco-friendly, all-electric heating and cooling systems to older buildings in lower income communities, with the goal of reducing carbon footprints and energy bills. Backed by investors like Goldman Sachs’ Urban Investment Group and Microsoft’s Climate Innovation Fund, BlocPower brings all-electric smart technology to
Continue Reading By Jennifer Korn, CNN BlocPower, a Brooklyn-based clean energy company, is bringing eco-friendly, all-electric heating and cooling systems to older buildings in lower income communities, with the goal of reducing carbon footprints and energy bills. Backed by investors like Goldman Sachs’ Urban Investment Group and Microsoft’s Climate Innovation Fund, BlocPower brings all-electric smart technology to
Continue Reading By Julia Horowitz, CNN Business Most Russian crude oil exports to Europe are now banned, marking the boldest effort yet by the West to pile financial pressure on President Vladimir Putin as his brutal war in Ukraine enters its tenth month. The oil embargo, which was agreed upon in late May, took effect in the
Continue Reading By Nicole Goodkind, CNN Business The US economy gained 263,000 jobs in November, 63,000 above the consensus estimate. The larger surprise was that average hourly earnings rose by 0.55%, the fastest pace since January. The robust jobs market is good news for American workers, but concerning for the Federal Reserve and equity bulls alike. It
Continue Reading By Ramishah Maruf, CNN Don’t mess with Swifties. More than two dozen Taylor Swift fans are suing Ticketmaster parent Live Nation Entertainment, Inc. for “unlawful conduct” in the pop star’s chaotic tour sale, claiming the ticketing giant violated antitrust laws, among others. The lawsuit, filed in a California court on Friday, alleges Ticketmaster and its
Continue Reading By Hanna Ziady, CNN Business The United Kingdom faces a “lost decade” of growth if action isn’t taken to address slumping business investment and worker shortages, a leading business lobby group has warned. In a bleak economic forecast published on Monday, the Confederation of British Industry (CBI) said that three quarters of companies are struggling
Continue Reading By Juliana Liu, CNN Business Apple supplier Foxconn says it is “gradually” restoring production capacity at its sprawling campus in central China, which has been hit by Covid-19 restrictions and worker protests since October. The “epidemic situation” at the facility, known as iPhone City and normally home to hundreds of thousands of workers, has been
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