By Swati Gupta, Rhea Mogul, Sandi Sidhu and Mohit Lathiya, CNN A marigold garland hangs across a photo frame with the faces of 12 members of the Bodha family who died when a bridge collapsed beneath them during a family outing in Gujarat, eastern India. “There have been a lot of deaths,” said grandfather Sundarji
Continue Reading By Brian Fung, CNN A new verification mark intended to better identify prominent Twitter accounts has instead become the latest source of chaos at the company under new owner Elon Musk. Just hours after the feature’s debut, Musk abruptly said Wednesday he had “killed” a new, gray verification badge designed to label government accounts, major
Continue Reading By Catherine Thorbecke, CNN Business Meta CEO Mark Zuckerberg told company executives that major layoffs at the tech giant will begin on Wednesday morning, the Wall Street Journal reported Tuesday afternoon. Meta declined to comment to CNN on the report, which said Zuckerberg told the executives at Facebook’s parent company that he is accountable for
Continue Reading By Frank Pallotta, CNN Business Disney’s fourth quarter earnings were a mix of good and bad news for the company. The good: the company added 12.1 million new Disney+ subscribers, for a total of 164.2 million global subscribers, exceeding Wall Street’s expectations. The bad: Disney missed projections for other aspects of its business, including revenue.
Continue Reading By Paul R. La Monica, CNN Business #RedWave? #VoteBlue? Wall Street saw green on this midterm Election Day. Stocks ended Tuesday with solid gains, extending Wall Street’s winning streak to a third straight day. The Dow finished up almost 335 points, or 1%. The Nasdaq and S&P 500 rose 0.5% and 0.6% respectively. The Dow
Continue Reading By Matt Egan, CNN Business Wall Street is waiting for the results of Tuesday’s midterm election like the rest of the world, but traders say this week’s inflation report may prove to be far more consequential to markets. “Obviously this midterm election — because democracy is on the ballot — is a big deal in
Continue Reading By Brian Fung, CNN Business The European Union is taking a closer look at Microsoft’s proposed $68.7 billion purchase of video game giant Activision Blizzard, citing concerns the deal could hurt competition in the video game industry. A preliminary review of the deal found that Microsoft could try to withhold the games it’s acquiring from
Continue Reading By Paul R. La Monica, CNN Business #RedWave? #VoteBlue? Wall Street saw green on this midterm Election Day. Stocks ended Tuesday with solid gains, extending Wall Street’s winning streak to a third straight day. The Dow finished up almost 335 points, or 1%. The Nasdaq and S&P 500 rose 0.5% and 0.6% respectively. The Dow
Continue Reading By Peter Valdes-Dapena, CNN Business California has long been a leader among states, and even countries, in promoting a shift to electric cars, including with its plans to ban the sale of purely gas-powered cars by 2035. But California voters appear to have rejected a ballot proposal that, its proponents claimed, what have helped accelerate
Continue Reading By Hanna Ziady, CNN Business Three years ago, a hurricane devastated the Bahamas, claiming dozens of lives. Today, the country is building what it claims to be the world’s first carbon-negative housing community to reduce the likelihood of future climate disasters and to ease the shortage of homes caused by the storm. Rick Fox, a
Continue Reading By Paul R. La Monica, CNN Business Many political experts are predicting big Republican wins in the midterm elections that could give the GOP control of at least one, if not both, chambers of Congress. Investors have taken notice too. The blank check firm that might merge with former President Donald Trump’s media company has
Continue Reading By Allison Morrow, CNN Business In an unexpected twist, the cryptocurrency exchange Binance said it is buying its smaller rival FTX after the firm faced a liquidity crisis that rattled digital assets and sparked contagion fears. “This afternoon, FTX asked for our help,” tweeted Zhao “CZ” Changpeng on Tuesday. “There is a significant liquidity crunch.
Continue Reading By Jeanne Sahadi, CNN Business The abrupt and unceremonious way that thousands of Twitter employees got laid off last week was a spectacle. But it was also a helpful reminder that while employers can get rid of many workers at will (and with zero graciousness), employees are not without rights when they are laid off
Continue Reading By Rachel Metz and Catherine Thorbecke, CNN A federal judge has denied Elizabeth Holmes’ request for a new trial, according to court filings on Monday, paving the way for the founder of failed blood testing startup Theranos to be sentenced later this month. The decision comes weeks after an October 17 hearing held in San
Continue Reading By Frank Pallotta, CNN Business “Top Gun: Maverick” was never going to be an easy sell. Sure, the film starred Tom Cruise — arguably one of Hollywood’s most iconic movie stars — and it would be the sequel to “Top Gun,” one of the biggest blockbusters of all time. But the original “Top Gun” was
Continue Reading By Danielle Wiener-Bronner, CNN Business It’s Election Day in America, and some companies are offering deals and freebies to mark the occasion, while others are giving employees time off to vote. Election Day is not a national holiday, though it is a public holiday in some states, so some government offices may be closed. Less
Continue Reading By Danielle Wiener-Bronner, CNN Business It’s Election Day in America, and some companies are offering deals and freebies to mark the occasion, while others are giving employees time off to vote. Election Day is not a national holiday, though it is a public holiday in some states, so some government offices may be closed. Less
Continue Reading By Hanna Ziady, CNN Business Adidas has appointed the head of Puma to succeed outgoing CEO Kasper Rorsted, betting on his ability to replicate its crosstown rival’s comeback. Norwegian Bjørn Gulden, 57, will become CEO of Adidas on January 1, 2023, the German sportswear brand said in a statement on Tuesday. Shares of the company
Continue Reading By Alexandra Peers CNN Business Samuel Roe, regional sales manager for Terlato Wines, had business associates visiting a few weeks ago and called a friend at one of the most expensive rooftop eateries in New York to ask if his group could get a table. He got a reservation, he said, but also a request:
Continue Reading By Julia Horowitz, CNN Business A woman maneuvers her car onto a street called “Wits’ End.” The sky is an ominous red, and strange things are happening. Mailboxes are spitting out letters. Umbrellas aren’t rain-proof. A radio announcer warns of a “crisis on the horizon” and “another tough year.” Arriving home, the woman — carrying
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