By Chris Isidore and Peter Valdes-Dapena, CNN General Motors is pausing its advertising on Twitter now that the social media platform is owned by Tesla CEO Elon Musk, the company said in a statement Friday. The nation’s largest automaker said that it is making the change while it evaluates “Twitter’s new direction.” It said it
Continue Reading By Danielle Wiener-Bronner, CNN Business McDonald’s stock hit an all time high Friday as Wall Street cheered the company’s third quarter results. The share price hit about $274 on Friday, a jump of roughly 3% for the day. On Thursday, McDonald’s reported consolidated revenues of about $5.87 billion for the third quarter, a year-over-year decline
Continue Reading By Oliver Darcy, CNN Business Newly minted Twitter owner Elon Musk said Friday afternoon that the social media company “will be forming a content moderation council with widely diverse viewpoints.” That means suspended accounts like the one held by former President Donald Trump won’t immediately return to Twitter. “No major content decisions or account reinstatements
Continue Reading By Oliver Darcy, CNN Business Newly minted Twitter owner Elon Musk said Friday afternoon that the social media company “will be forming a content moderation council with widely diverse viewpoints.” That means suspended accounts like the one held by former President Donald Trump won’t immediately return to Twitter. “No major content decisions or account reinstatements
Continue Reading By Jennifer Korn, CNN Business In the hours after Elon Musk completed his purchase of Twitter late Thursday, many avid users began voicing their uncertainty about the future of the platform and whether they want to remain on it. But with few obvious alternatives, Twitter users may be left with nowhere else to go. Musk
Continue Reading By Peter Valdes-Dapena, CNN Business The Pininfarina Battista is an astonishing car. Its base price, $2.2 million, is shocking, but so are its capabilities. With a maximum output of 1,900 horsepower from four electric motors, Automobili Pininfarina claims it can go from zero to 60 miles per hour in under two seconds. It probably took
Continue Reading By Peter Valdes-Dapena, CNN Business The Pininfarina Battista is an astonishing car. Its base price, $2.2 million, is shocking, but so are its capabilities. With a maximum output of 1,900 horsepower from four electric motors, Automobili Pininfarina claims it can go from zero to 60 miles per hour in under two seconds. It probably took
Continue Reading By Tami Luhby, CNN Employers continued hiking wages to attract workers and hold on to existing staff during the third quarter. But the raises did not keep up with inflation — and the continued increase is unwelcome news for the Federal Reserve, since higher wages can contribute to overall inflationary pressures, which the central bank
Continue Reading By Anna Cooban, CNN Business Shoppers in the United Kingdom are snapping up energy-saving air fryers, electric blankets and slow cookers this winter as their fuel bills soar. Sales of hot air fryers were up 286% in September compared to the same month last year, according to market research company GfK. The portable appliance typically
Continue Reading By Danielle Wiener-Bronner, CNN Business Earlier this week Adidas ended its partnership with rapper and fashion designer Ye (who previously went by Kanye West). Its decision came around the same time that a flurry of other companies also cut ties with the artist — but weeks after Ye began making offensive remarks. Many wondered: What
Continue Reading By Danielle Wiener-Bronner, CNN Business Earlier this week Adidas ended its partnership with rapper and fashion designer Ye (who previously went by Kanye West). Its decision came around the same time that a flurry of other companies also cut ties with the artist — but weeks after Ye began making offensive remarks. Many wondered: What
Continue Reading By Jeanne Sahadi, CNN Business Next week, job seekers will start to get a much better grasp on what many employers are willing to pay — and so will a company’s existing employees. While there is already a patchwork of state and local laws aimed at improving pay transparency, many companies still do not advertise
Continue Reading By Chris Isidore, CNN Business The three top Twitter executives whom Elon Musk fired Thursday will walk out the door with about $187 million of Musk’s money. Former CEO Parag Agrawal, former CFO Ned Segal and former Chief Legal Officer Vijaya Gadde were ousted after Musk took control of the company late Thursday, according to
Continue Reading By Paul R. La Monica, CNN Business Stocks rallied heading into the weekend, despite lousy results from Amazon. Solid earnings from Apple and record profits from oil giants Chevron and Exxon Mobil were enough to counter the weak outlook from the retail and cloud giant. The Dow, which has Apple and Chevron as two of
Continue Reading By Paul R. La Monica, CNN Business The Dow fell nearly 130 points, or 0.4% Monday, but it still ended October up 14% — its best monthly gain since January 1976. The blue chips remain off by almost 10% this year, though. Meanwhile, the S&P 500, which closed down 0.8% Monday, has dropped about 20%
Continue Reading By Clare Duffy and Donie O’Sullivan, CNN Elon Musk has completed his $44 billion acquisition of Twitter, the company confirmed in a securities filing Friday, putting the world’s richest man in charge of one of the world’s most influential social media platforms. The company said the deal “became effective” on Thursday, as part of a
Continue Reading By Alicia Wallace, CNN Business A new batch of inflation data released Friday showed that while prices remained uncomfortably high in September, a slowdown in wage growth indicates some relief may be in sight. That’s an encouraging development for the Federal Reserve, which is battling to bring down the highest inflation in 40 years. The
Continue Reading By Clare Duffy, CNN Business After spending months attempting to get out of his deal to buy Twitter, Elon Musk officially owns the hugely influential platform. Now the question is: What will he actually do with it? Musk’s takeover — which was finalized Thursday night, a source familiar with the matter told CNN — not
Continue Reading By Chris Isidore, CNN Business America’s largest oil company ExxonMobil set a profit record for the second-straight quarter as oil and gas prices remained high. No. 2 US oil company Chevron also posted much-better-than-expected results. ExxonMobil earned $18.7 billion, excluding special items, up 6% from the second quarter results which had been the record and
Continue Reading By Nicole Goodkind, CNN Business The US economy grew by a 2.6% adjusted annual rate in the third-quarter, bouncing back from two negative quarters and beating analyst expectations. This ultra-resilient economy stands in the face of the Federal Reserve’s aggressive attempts to quell inflation by slowing growth through aggressive interest rates. But a quick look
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