By Chris Isidore, CNN Business Elon Musk recently purchased 9.2% of Twitter stock, according to a filing Monday, making him the largest shareholder in the company. News of the purchase sent shares of Twitter soaring 22% in early trading. Musk did not disclose what he paid for the shares, but his stake was worth $2.9
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By Danielle Wiener-Bronner, CNN Business Coke’s recent foray into bold new flavors has its latest entry, and it’s a doozy. Last month, Coca-Cola announced a new limited-edition beverage: Coca-Cola Starlight, a red version of the iconic soda with a flavor “inspired by space.” Now the company is one-upping itself with another offbeat offering: Coca-Cola Zero
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By Laura He, CNN Business China is extending an olive branch to the United States in a bid to prevent Chinese firms from being kicked off the US stock market. The China Securities Regulatory Commission, the country’s top securities watchdog, has proposed changing a decade-old rule that forbids Chinese firms from sharing sensitive data and
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By Matt Egan, CNN Business Jamie Dimon is worried about the powerful shockwaves set off by the combination of high inflation and Russia’s invasion of Ukraine. Dimon, one of the world’s most influential business leaders, warned Monday in his annual shareholder letter that the conflict poses a significant threat to the economic recovery that began
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By Diksha Madhok, CNN Business India’s Gautam Adani has joined what is probably the most elite club in the world. The infrastructure tycoon’s wealth hit $100 billion over the weekend, according to the Bloomberg Billionaires Index, making him the richest person in Asia. He joins nine other men in the centibillionaires club, including Tesla CEO
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By Danielle Wiener-Bronner and Poppy Harlow, CNN Howard Schultz’s first act on his return as Starbucks CEO is to pause the company’s share buyback program. “Starting immediately, we are suspending our share repurchasing program,” Schultz wrote in an open letter to Starbucks employees, customers and others which was published early Monday. “This decision will allow
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By Brian Stelter, CNN Business In a forthcoming book, a pair of New York Times reporters and CNN political analysts report that President Joe Biden “assessed” Fox News “as one of the most destructive forces in the United States.” The reporters, Jonathan Martin and Alexander Burns, say that Biden was even more critical of Fox
Continue Reading By Brian Stelter, CNN Business In a forthcoming book, a pair of New York Times reporters and CNN political analysts report that President Joe Biden “assessed” Fox News “as one of the most destructive forces in the United States.” The reporters, Jonathan Martin and Alexander Burns, say that Biden was even more critical of Fox
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By Ramishah Maruf, CNN Two Sky News journalists said they are lucky to be alive after their vehicle was ambushed outside Kyiv. Dominique van Heerden and Stuart Ramsay were part of a Sky News team that was traveling back to Kiev when their car was ambushed, the reporters told CNN’s chief media corespondent Brian Stelter
Continue Reading By Ramishah Maruf, CNN Two Sky News journalists said they are lucky to be alive after their vehicle was ambushed outside Kyiv. Dominique van Heerden and Stuart Ramsay were part of a Sky News team that was traveling back to Kiev when their car was ambushed, the reporters told CNN’s chief media corespondent Brian Stelter
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By Ramishah Maruf, CNN Elon Musk’s ongoing legal battle with the Securities and Exchange Commission has a new player — rapper Eminem. Musk’s lawyer, Alex Spiro, quoted Eminem’s 2002 song “Without Me” in the latest effort to overturn a 2018 agreement which requires the billionaire to gain pre-approval for certain tweets. “The [SEC] won’t let
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By Nicole Goodkind, CNN Business The US may have the world’s most powerful military, but the dollar is its greatest weapon. Now, after nearly 80 years of dollar dominance, the US might be in danger of losing its global reserve currency status. About 60% of the $12.8 trillion in global currency reserves are currently held
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By Kelly McCleary, CNN “Saturday Night Live” tackled some of the week’s biggest headlines on its version of “Fox and Friends,” during Saturday’s cold open, including the Will Smith slap at the Academy Awards and Ginni Thomas’ text messages urging a top White House official to keep up the fight to overturn the 2020 presidential
Continue Reading By Kelly McCleary, CNN “Saturday Night Live” tackled some of the week’s biggest headlines on its version of “Fox and Friends,” during Saturday’s cold open, including the Will Smith slap at the Academy Awards and Ginni Thomas’ text messages urging a top White House official to keep up the fight to overturn the 2020 presidential
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By Ramishah Maruf, CNN General Motors is recalling more than 680,000 SUVs due to a defect in their windshield wipers. The 2014 to 2015 Chevrolet Equinox and GMC Terrain vehicles are being recalled because the the windshield wipers could fall, due to the chance of its ball joints corroding or wearing away. The action covers
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By Chris Isidore, CNN Business Tesla once again bucked auto industry trend and reported an increase in car sales, despite the shortages of computer chips and other logistical woes that have forced other carmakers to significantly scale back production. The company said it sold 310,000 cars in the first quarter, up only slightly from the
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By Ramishah Maruf, CNN Alaska Airlines canceled dozens of flights this weekend as its pilots held informational pickets in numerous cities throughout the United States in an almost 3-year-long deadlock in contract negotiations with the airline. On Friday, Alaska Air canceled 111 flights, or 15% of its operations, according to flight tracking website FlightAware. In
Continue Reading By Ramishah Maruf, CNN Alaska Airlines canceled dozens of flights this weekend as its pilots held informational pickets in numerous cities throughout the United States in an almost 3-year-long deadlock in contract negotiations with the airline. On Friday, Alaska Air canceled 111 flights, or 15% of its operations, according to flight tracking website FlightAware. In
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By Anna Bahney, CNN Business New rules rolled out earlier this year by mortgage giants Fannie Mae and Freddie Mac are creating a bottleneck in the real estate market for those seeking to buy or sell condo or co-op apartments, according to agents and condo associations. The new rules are intended to address concerns about
Continue Reading By Anna Bahney, CNN Business New rules rolled out earlier this year by mortgage giants Fannie Mae and Freddie Mac are creating a bottleneck in the real estate market for those seeking to buy or sell condo or co-op apartments, according to agents and condo associations. The new rules are intended to address concerns about
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