by Matt Egan, CNN Walmart is laying off about 200 corporate employees, a person familiar with the matter told CNN, in a move that comes days after the retail giant issued a rare profit warning. In a statement, Walmart confirmed it is “updating our structure and evolving select roles to provide clarity and better position
Continue Reading By Jackie Wattles, CNN Business Chunks of space debris were reportedly found on farmland in the Australia mountains, and this week NASA and Australian authorities confirmed that the objects are “likely” a scrap of hardware from a SpaceX Dragon capsule that was intentionally jettisoned as the spacecraft reentered the Earth’s atmosphere last May. SpaceX did
Continue Reading By Oliver Darcy, CNN Business The dishonesty of right-wing conspiracy theorist Alex Jones was spotlighted in a Texas court on Wednesday as a lawyer for a pair of Sandy Hook parents cross-examined the Infowars founder and fact-checked his answers in real-time. The jury hearing the case will determine how much Jones will have to pay
Continue Reading By Parija Kavilanz, CNN Business Imagine taking heaps and heaps of earth-polluting, unusable plastic waste and actually transforming it into something constructive? Plastic pollution is a proliferating and increasingly overwhelming problem. By 2040, estimates indicate that as much as 710 million tons of solid plastic waste will clog up the earth’s ecosystem, in oceans, rivers
Continue Reading By Parija Kavilanz, CNN Business Imagine taking heaps and heaps of earth-polluting, unusable plastic waste and actually transforming it into something constructive? Plastic pollution is a proliferating and increasingly overwhelming problem. By 2040, estimates indicate that as much as 710 million tons of solid plastic waste will clog up the earth’s ecosystem, in oceans, rivers
Continue Reading By Sara Ashley O’Brien, CNN Business Tinder’s newest CEO is out after less than a year on the job, marking the second high-profile female executive to depart its parent company, Match Group, in a matter of months. Match Group’s newly tapped CEO Bernard Kim announced Tinder CEO Renate Nyborg’s departure on Tuesday in a letter
Continue Reading By Jackie Wattles, CNN Business US House Speaker Nancy Pelosi’s flight to Taiwan, which bolstered American support for the island nation but angered China, was the single most heavily tracked flight in the history of the online flight tracking site Flightradar24. The website, which uses a network of receivers to track planes’ location and speed,
Continue Reading By Jackie Wattles, CNN Business US House Speaker Nancy Pelosi’s flight to Taiwan, which bolstered American support for the island nation but angered China, was the single most heavily tracked flight in the history of the online flight tracking site Flightradar24. The website, which uses a network of receivers to track planes’ location and speed,
Continue Reading By Jennifer Korn Heists continue to plague the crypto world, with news of large sums stolen from digital currency firms seemingly every month. But while crypto exchanges were once the main point of attack, hackers now appear to have a new target: blockchain bridges. Bridges are the infrastructure that allow users to exchange assets between
Continue Reading By Jennifer Korn Heists continue to plague the crypto world, with news of large sums stolen from digital currency firms seemingly every month. But while crypto exchanges were once the main point of attack, hackers now appear to have a new target: blockchain bridges. Bridges are the infrastructure that allow users to exchange assets between
Continue Reading By Parija Kavilanz, CNN Business TJX, which operates popular discount chains TJ Maxx, Marshalls and Home Goods, agreed to pay a fine of $13 million for selling recalled infant products that had been removed from the market due to risks of infant suffocation and death. The recalled products the company continued selling included Kids II
Continue Reading By Nicole Goodkind, CNN Business It’s no secret that Warren Buffett isn’t a fan of Robinhood. The Oracle of Omaha has been sparring with the online brokerage platform since 2021. Until now, the fight has been over a difference in their philosophical views of the stock market. A recent paper by three academics may have
Continue Reading By Danielle Wiener-Bronner, CNN Business Taco Bell can thank Mexican Pizza for a boost in sales last quarter. Sales at US Taco Bell stores open at least a year jumped 8% in the three months ending June 30. In that period, Taco Bell sold more than 20 million Mexican Pizzas across the country and saw
Continue Reading By Alexandra Peers, CNN Business Credit giant Equifax sent lenders incorrect credit scores for millions of consumers this spring, in a technology snafu with major real-world impact. In certain cases the errors were significant enough — the differential was at least 25 points for around 300,000 consumers — that some would-be borrowers may have been
Continue Reading By Alexandra Peers, CNN Business Credit giant Equifax sent lenders incorrect credit scores for millions of consumers this spring, in a technology snafu with major real-world impact. In certain cases the errors were significant enough — the differential was at least 25 points for around 300,000 consumers — that some would-be borrowers may have been
Continue Reading By Oliver Darcy, CNN Business The dishonesty of right-wing conspiracy theorist Alex Jones was spotlighted in a Texas court on Wednesday as a lawyer for a pair of Sandy Hook parents cross-examined the Infowars founder and fact-checked his answers in real-time. The jury hearing the case will determine how much Jones will have to pay
Continue Reading By Anna Cooban, CNN Business The world’s oil-exporting countries have agreed to a tiny increase in output next month amid fears that a global recession will crimp demand. The Organization of the Oil Exporting Countries and its allies — which includes Russia — also known as OPEC+, said on Wednesday that it would produce an
Continue Reading By Matt Egan, CNN Business Prices at the pump continue to sink, providing relief to inflation-weary consumers and an economy mired in a slowdown. The national average for regular gasoline dropped three cents to $4.16 a gallon on Wednesday, according to AAA. That marks the 50th consecutive day of falling prices. Gas prices have tumbled
Continue Reading By Nicole Goodkind, CNN Business Americans may be wondering why they’re forced to spend more than $4 per gallon at the pump while energy companies are raking in record profits. Even more aggravating: Exxon and Chevron announced last week they’d spend billions of dollars of their earnings buying back their own stock, fattening investors’ portfolios.
Continue Reading By Julia Horowitz, CNN Business China’s yuan has fared better than many other major currencies this year. It’s shed 6.5% against the US dollar, holding its ground as the greenback has gone on a breakneck rally. The euro, the British pound and South Korea’s won have all dropped more than 10%, while Japan’s yen has
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