Jeff Bezos reignites battle for NASA moon contract
Jeff Bezos is offering NASA up to $2 billion in a bid to reignite the battle for space between his rocket company Blue Origin and Elon Musk’s SpaceX. CNN’s Kristin Fisher reports.
Continue ReadingJeff Bezos is offering NASA up to $2 billion in a bid to reignite the battle for space between his rocket company Blue Origin and Elon Musk’s SpaceX. CNN’s Kristin Fisher reports.
Continue ReadingBy Julia Horowitz, CNN Business Tesla is making strides in its transformation from scrappy upstart to mature carmaker. And it has the numbers to prove it. What’s happening: The electric vehicle company netted a record $1.1 billion in profit during the second quarter. That’s more than double the $438 million it made in the first
Continue ReadingBy Matt Egan, CNN Business Home prices are climbing at the fastest pace in history, eclipsing even the boom in the days leading up to the Great Recession. Bidding wars have become common, many are forced to pay all cash and some bids are coming in $1 million over asking. It’s all sparking fears that
Continue ReadingBy Diksha Madhok, CNN Business Jeff Bezos wants to spot NASA up to $2 billion in a bid to reignite the battle for space between his rocket company Blue Origin and Elon Musk’s SpaceX. The world’s richest man appealed to NASA Administrator Bill Nelson in an open letter Monday, offering to cover billions of dollars
Continue ReadingBy Eric Cheung and Hanna Ziady, CNN Business WeChat is suspending all new user registrations until early August, the popular social messaging app announced on Tuesday. In a brief post on social media, WeChat, known as Weixin in China, said the suspension relates to an upgrade of security technology “according to relevant laws and regulations.”
Continue ReadingBy Michelle Toh, CNN Business Chinese tech stocks keep getting slammed with a stunningly massive sell-off that has wiped out hundreds of billions of dollars in market value as investors continue to digest Beijing’s widening crackdown on private enterprise. Meituan closed down 17.7% in Hong Kong on Tuesday, eclipsing Monday’s massive 14% loss — making
Continue ReadingAllianz Chief Economic Adviser Mohamed El-Erian discusses China’s regulatory crackdown on private education firms.
Continue ReadingDuring a CNN town hall, President Joe Biden said he is confident the Senate will vote to move forward with a bipartisan infrastructure deal.
Continue ReadingBy Matt Egan, CNN Business Dozens of business leaders, including the CEOs of BlackRock, United Airlines and Macy’s, called on lawmakers Monday to swiftly enact the $1.2 trillion bipartisan infrastructure bill that is stalled in Congress. More than 140 executives signed the public letter to congressional leaders expressing strong support for the bipartisan infrastructure framework,
Continue ReadingBy Allison Morrow, CNN Business Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. In today’s business news: Yes, your cereal boxes are shrinking; a $30 billion insurance merger gets called off; and Philip Morris wants to ban cigarettes in
Continue ReadingBy Rishi Iyengar, CNN Business Pressure on Activision Blizzard is mounting as more than 2,000 current and former employees signed a petition slamming what they see as the video game company’s “abhorrent and insulting” response to a California lawsuit. The petition, which was circulated Monday and seen by CNN Business, criticized the company’s statements following
Continue ReadingBy Chris Isidore, CNN Business Tesla reported stronger-than-expected second quarter, with a record net income of $1.1 billion. It was far more than double the $438 million it made in the first quarter, and more than 10 times the net income it reported a year ago. And it answered a major criticism of investors who’ve
Continue ReadingPhilip Morris International says it will stop selling Marlboro cigarettes in Britain within a decade as it called on the UK government to ban the sale of its tobacco products. CNN’s Christine Romans reports.
Continue ReadingBy Paul R. La Monica, CNN Business Chip giant Nvidia is the ninth-most valuable company in the S&P 500. With a market capitalization of almost $500 billion, the company is now worth nearly as much as semiconductor rivals Intel, Advanced Micro Devices and Qualcomm — combined. Could Nvidia soon wind up listed on the venerable
Continue ReadingBy Alexis Benveniste, CNN Business Amazon listed a job opening for a digital currency and blockchain product lead, sending cryptocurrencies soaring Monday. Bitcoin climbed to a six-week high of nearly $39,043, while ethereum reached $2,363. Dogecoin was last trading at about 22 cents per coin, giving it a $28.8 billion market cap. As of Monday
Continue ReadingBy Chris Isidore, CNN Business A proposed $30 billion insurance industry merger is off, one month after the Justice Department’s antitrust regulators sued to block it. It’s another sign of the tough stance the Biden administration is taking against corporate deal-making. The deal between Aon, which is incorporated in England and Wales, and Ireland-based Willis
Continue ReadingBy Anneken Tappe, CNN Business Goldman Sachs slashed its forecast for US economic activity in the second half of the year, pointing to sluggish consumer spending on services as well as the threats posed by the Covid-19 Delta variant. During the pandemic and the start of the recovery, Americans spent big on goods: Used car
Continue ReadingBy Frank Pallotta, CNN Business The Tokyo Olympics officially kicked off this weekend, and on the face of it, the ratings for Friday’s opening ceremony looked like a flop. According to early numbers, only 17 million people watched the opening ceremony on TV in the US. That’s down a sharp 36% from the Rio 2016
Continue ReadingWill NBC be one of the winners or losers of the Summer Olympics? Claire Atkinson discusses the relatively weak ratings for the opening ceremony and says NBC will also be judged “on whether this is a big success for Peacock, which is their big entrant into the streaming arena.”
Continue ReadingBy Hanna Ziady, CNN Business Philip Morris International says it will stop selling Marlboro cigarettes in Britain within a decade as it called on the UK government to ban the sale of its tobacco products. The remarks come amid dwindling smoker numbers in the United Kingdom — where cigarettes have been sold in plain packaging
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