By Brian Fung, CNN Business Amazon has formally requested that newly appointed Federal Trade Commission chair Lina Khan be recused from all Amazon-related antitrust cases before the agency. The e-commerce giant filed a petition to the FTC on Wednesday suggesting that Khan — an outspoken tech critic who has played a key role in driving
Continue Reading By Matt Egan, CNN Business Democrats are once again taking aim at dreaded bank overdraft fees. New York Congresswoman Carolyn Maloney reintroduced legislation on Wednesday that would crack down on overdraft fees, making it illegal for banks to charge more than one fee per month. The bill, which is very similar to legislation Maloney sponsored
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By Jackie Wattles, CNN Business A 70-foot rocket blasted off from beneath the wing of a Boeing 747 over the Pacific Ocean Wednesday, marking the second successful orbital flight for rocket startup Virgin Orbit. The plane, nicknamed Cosmic Girl, took off from California Wednesday just before 7 am PT, and about an hour later, the
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By Rachel Metz, CNN Business As George Floyd’s death sparked protests in cities across the country, six federal agencies turned to facial-recognition software in an effort to identify people in images of the civil unrest, according to a new report from a government agency. The agencies used facial recognition software from May to August of
Continue Reading By Rachel Metz, CNN Business As George Floyd’s death sparked protests in cities across the country, six federal agencies turned to facial-recognition software in an effort to identify people in images of the civil unrest, according to a new report from a government agency. The agencies used facial recognition software from May to August of
Continue Reading By Jackie Wattles, CNN Business A 70-foot rocket blasted off from beneath the wing of a Boeing 747 over the Pacific Ocean Wednesday, marking the second successful orbital flight for rocket startup Virgin Orbit. The plane, nicknamed Cosmic Girl, took off from California Wednesday just before 7 am PT, and about an hour later, the
Continue Reading By Chris Isidore, CNN Business Consumer Reports and the Insurance Institute for Highway Safety have once again given their thumbs up to the Tesla Model 3 after it passed a test of its new automatic braking system. As of May 1, Tesla switched from a radar-based system to a camera-based system it dubbed Tesla Vision
Continue Reading By Jordan Valinsky, CNN Business The Bill and Melinda Gates Foundation announced Wednesday that it is committing more than $2 billion to gender equality initiatives, including economic empowerment and woman’s health. “The world has been fighting for gender equality for decades, but progress has been slow,” Melinda Gates, co-chair of the Gates Foundation, said in
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Workers, wielding new-found leverage from the pandemic, are being more selective. One company hired 412 employees offering a $2000 bonus if they stayed 90 days – yet many of them left.
Continue Reading Workers, wielding new-found leverage from the pandemic, are being more selective. One company hired 412 employees offering a $2000 bonus if they stayed 90 days – yet many of them left.
Continue Reading By Frank Pallotta, CNN Business David Geffen, one of the most famous business moguls in Hollywood, is giving $150 million to the Yale School of Drama. The gift will make the prestigious school tuition free for all current and future students. “The donation — the largest on record in the history of American theater —
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By Alexis Benveniste, CNN Business Ampex Brands — a franchisee that owns more than 400 Pizza Hut, KFC, Taco Bell, Long John Silver’s and 7-Eleven locations — is buying Au Bon Pain. Panera, which purchased Au Bon Pain in 2017, will sell all 171 of Au Bon Pain’s locations and will allow Ampex to franchise
Continue Reading By Moira Ritter, CNN Business The US Justice Department has filed additional charges against the hacker accused of illegally accessing more than 100 million Capital One customers’ accounts and credit card applications in 2019. Paige Thompson, a former Amazon engineer, now faces six counts of computer fraud and abuse, one count of access device fraud
Continue Reading By Moira Ritter, CNN Business The US Justice Department has filed additional charges against the hacker accused of illegally accessing more than 100 million Capital One customers’ accounts and credit card applications in 2019. Paige Thompson, a former Amazon engineer, now faces six counts of computer fraud and abuse, one count of access device fraud
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In Atlanta, Mary Mac’s Tea Room serves up much more than sweet tea. See how they put their soul into a classic taste of the South.
Continue Reading In Atlanta, Mary Mac’s Tea Room serves up much more than sweet tea. See how they put their soul into a classic taste of the South.
Continue Reading By Danielle Wiener-Bronner, CNN Business McDonald’s is offering you the chance to earn points for chicken sandwiches or vanilla cones. At Popeyes, you could get a special meal not available to anyone else. And at one point, Chipotle even dangled the possibility of winning a car. That’s because restaurants are ramping up their rewards programs.
Continue Reading By Paul R. La Monica, CNN Business Berkshire Hathaway vice chairman Charlie Munger praised the Chinese government for silencing Alibaba’s Jack Ma in a recent interview, adding that he wishes US financial regulators were more like those in China. “Communists did the right thing,” Munger, the 97-year-old longtime friend of Warren Buffett, said about the
Continue Reading By Matt Egan, CNN Business Robinhood is being ordered to pay about $70 million for harming millions of customers. It’s the largest penalty ever imposed by Wall Street’s self-regulator. The controversial trading app was accused Wednesday by the Financial Industrial Regulatory Authority of “systemic supervisory failures” and hurting investors by giving them “false or misleading
Continue Reading By Brian Fung, CNN A group of international law enforcement agencies have taken down DoubleVPN, a virtual private networking service allegedly used by ransomware gangs to hide their online tracks, in a coordinated operation aimed at disrupting cyber criminals. The VPN service was shut down on Tuesday as officials from the US, Canada, and several
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