By Nathaniel Meyersohn, CNN Business In a mega-deal that could have a huge impact on grocery shopping in America, Kroger and Albertsons announced Friday plans to merge. If approved by regulators, the nearly $25 billion deal would be one of the biggest in US retail history. The proposed merger, which the companies expect to complete
Continue Reading By Joseph Ataman, Marguerite Lacroix and Natacha Bracken French President Emmanuel Macron called a crisis meeting with senior ministers on Monday to address crippling strikes at gas refineries that has caused fuel pumps to run dry. Macron declared Monday his desire for a solution “as quickly as possible” to the protests, promising to “do his
Continue Reading By Paul R. La Monica, CNN Business Stocks rallied sharply Monday, thanks to more strong earnings from big banks and a sigh of relief about new plans by the United Kingdom to scrap a controversial tax cut plan. The Dow gained more than 550 points, or 1.9%, and moved back above 30,000. Solid results from
Continue Reading By Clare Duffy, CNN Business Google may be the giant in the digital advertising world, but even it is not immune to the impact that the economic downturn and recession fears are having on the online ad market. Google parent company Alphabet on Tuesday reported earnings results for the third quarter that fell short of
Continue Reading By Samantha Murphy Kelly, CNN Business When Google unveiled its new Pixel 7 smartphone lineup earlier this month, the devices looked largely the same as the year prior. But there was at least one subtle change: the colors. Whereas the Pixel 6 had come in sorta seafoam (a light blue) and kinda coral (a pale
Continue Reading By Nicole Goodkind, CNN Business The largest US banks reported relatively solid third-quarter earnings on Friday. But within those reports, investors found ominous clues about the future of the housing market, underscoring fears of an upcoming crisis. What’s happening: JPMorgan reported that third-quarter home lending revenue plunged 34% from a year ago, and Wells Fargo
Continue Reading By Sean Lyngaas and Clare Duffy, CNN Business When Peiter Zatko joined Twitter as head of security in late 2020 at the urging of founder and then-CEO Jack Dorsey, he was surprised by what he discovered. Twitter, a social network with hundreds of millions of users, “was over a decade behind industry security standards,” he
Continue Reading By Brian Fung, CNN Business Kanye West is acquiring Parler, the alternative social media platform favored by many conservatives. Parler’s parent company announced the deal on Monday morning, saying West had made “a groundbreaking move into the free speech media space and will never have to fear being removed from social media again.” The acquisition
Continue Reading By Julia Horowitz, CNN Business Britain’s new finance minister announced a comprehensive retreat on the UK government’s tax-and-spending plans on Monday in a frantic effort to calm jittery markets and restore the government’s credibility. Just four days into the job, Jeremy Hunt said he would reverse “almost all” tax measures announced three weeks ago by
Continue Reading By Laura He, CNN Business Even though China’s economy is beset by problems ranging from a real estate crisis to youth unemployment, Xi Jinping did not offer any grand ideas to set the country back on track during his two-hour opening speech at the Communist Party Congress on Sunday. The Chinese leader is expected to
Continue Reading By Laura He, CNN Business Even though China’s economy is beset by problems ranging from a real estate crisis to youth unemployment, Xi Jinping did not offer any grand ideas to set the country back on track during his two-hour opening speech at the Communist Party Congress on Sunday. The Chinese leader is expected to
Continue Reading By Parija Kavilanz, CNN Business Walmart announced Monday that its customers can for the first time buy over-the-counter hearing aids without a prescription and medical exam by a doctor. The move comes shortly after the US Food and Drug Administration announced a long-awaited rule change in August pertaining to hearing aids. Instead of getting a
Continue Reading By Paul R. La Monica, CNN Business Elon Musk now wants to buy Twitter after all. While that’s good news for Twitter’s long-suffering shareholders, Tesla investors hope he still has some time for them. They need a little help, too. Sure, Musk still has many fans on Wall Street and behind the wheel. But some
Continue Reading By Zoe Sottile, CNN Crack open a cold one this Thanksgiving — for your dog. Just in time for the winter holidays, Busch Beer has debuted a limited-edition turkey-flavored “dog brew.” That’ll give Fido something to be thankful for! But don’t worry, it won’t make your furry friend suspiciously merry. The canine beverage is non-alcoholic,
Continue Reading By Frank Pallotta, CNN Business “Saturday Night Live” opened this week’s episode taking on one of the most notable moments in news as of late: the House Select Committee investigating the January 6, 2021, insurrection. Kenan Thompson, who played Rep. Bennie Thompson, opened the NBC variety show by introducing the crowd to the committee’s ninth
Continue Reading By Frank Pallotta, CNN Business “Saturday Night Live” opened this week’s episode taking on one of the most notable moments in news as of late: the House Select Committee investigating the January 6, 2021, insurrection. Kenan Thompson, who played Rep. Bennie Thompson, opened the NBC variety show by introducing the crowd to the committee’s ninth
Continue Reading By Samantha Beech, Alex Marquardt and Jackie Wattles, CNN US billionaire Elon Musk tweeted on Saturday that SpaceX will continue funding Starlink internet service in war-torn Ukraine, apparently reversing course after SpaceX asked the United States military to pick up the tab. SpaceX’s Starlink satellite internet services have been a vital source of communication for
Continue Reading By Nathaniel Meyersohn, CNN Business It’s a great time to be a closeout store like TJ Maxx. Traditional brands and retailers are overstocked on clothing, home goods, electronics and other merchandise. In July, they were sitting on $713 billion in inventory, according to the latest data from the Census Bureau. That’s a prime opportunity for
Continue Reading By Catherine Thorbecke and Chris Isidore, CNN Business Apple workers in Oklahoma City have voted to form the second-ever labor union at one of the company’s US stores, in the latest sign that organizing efforts are gaining traction inside and outside the tech and retail industries. In a preliminary tally by the National Labor Relations
Continue Reading By Rhea Mogul, Devendra Singh Chauhan and Vedika Sud, CNN Fears are growing for the survival of a 15-year-old girl who was allegedly set on fire by a family member who is also accused of raping her as she fights for her life at a hospital in northern India. In a case that has shocked
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