By Uliana Pavlova, CNN Russian businessman Ivan Pechorin, the top manager for the Corporation for the Development of the Far East and the Arctic, has been found dead in Vladivostok, the latest in a string of mysterious deaths among Russian executives. “On September 12, 2022, it became known about the tragic death of our colleague,
Continue Reading By Chris Isidore and Vanessa Yurkevich, CNN Business A freight railroad strike, and the economic upheaval it could cause, is getting closer and closer to reality. While two more rail unions reached tentative agreements with railroad management on new contracts Tuesday, the two most important unions — representing the engineers and conductors who make up
Continue Reading By Clare Duffy, CNN Business Twitter co-founder and former CEO Jack Dorsey will be questioned on Tuesday morning by lawyers for the company and Elon Musk as part of the court fight over their $44 billion acquisition deal, according to a notice of a deposition filed Monday. Dorsey — who stepped down as CEO of
Continue Reading By Clare Duffy and Brian Fung, CNN Business Twitter lacks the resources and motivation to search for and remove foreign intelligence threats within its operations even as it has received warnings of possible spies in its ranks, former head of security Peiter “Mudge” Zatko told lawmakers in his first public appearance since blowing the whistle
Continue Reading By Anna Cooban, CNN Business Royal wills are never made public. That means what happens to much of the Queen’s personal wealth following her death last week will remain a family secret. Forbes estimated last year that the late monarch’s personal fortune was worth $500 million, made up of her jewels, art collection, investments and
Continue Reading By Frank Pallotta, CNN Business Following the death of Queen Elizabeth II, Netflix viewers tuned into the show about her life. Season 1 of “The Crown,” the streaming company’s award-winning series about the Queen’s reign over decades, entered Netflix’s top 10 this week, the company revealed on Tuesday. The series, which stars Claire Foy and
Continue Reading By Peter Valdes-Dapena, CNN Business Ferrari has unveiled the first four-door production vehicle the legendary Italian automaker has ever produced. It has a long hood that houses a gasoline engine and a single large area behind that which holds seats for four people and space for plenty of cargo. It’s also a four-wheel-drive vehicle. But,
Continue Reading By Peter Valdes-Dapena, CNN Business Ferrari has unveiled the first four-door production vehicle the legendary Italian automaker has ever produced. It has a long hood that houses a gasoline engine and a single large area behind that which holds seats for four people and space for plenty of cargo. It’s also a four-wheel-drive vehicle. But,
Continue Reading By Catherine Thorbecke, CNN Business Uber and one of its subsidiaries paid $100 million to New Jersey after an audit by the state’s Department of Labor and Workforce Development determined the ride-share company improperly classified hundreds of thousands of drivers as independent contractors. Workers classified as independent contractors don’t receive benefits such as unemployment, temporary
Continue Reading By Oliver Darcy, CNN Business A lawyer representing Sandy Hook families that have sued right-wing conspiracy theorist Alex Jones asked a jury on Tuesday to “send a message” to the public with its decision in a Connecticut trial that will determine how much money the plaintiffs receive. The trial is taking place a month after
Continue Reading By Rishi Iyengar, CNN Business Elon Musk may be fighting tooth-and-nail to get out of his deal to buy Twitter, but the social media company’s shareholders plan to hold him to it. The vast majority of Twitter shareholders on Tuesday voted in favor of Musk’s $44 billion takeover deal, a value of $54.20 per share.
Continue Reading By Paul R. La Monica, CNN Business Prices at the pump have fallen along with the cost of a barrel of crude oil. But the CEO of Chevron, one of the world’s largest energy companies, thinks consumers in the United States should be prepared for a shock when they get home heating bills this winter.
Continue Reading By Anna Cooban, CNN Business Royal wills are never made public. That means what happens to much of the Queen’s personal wealth following her death last week will remain a family secret. Forbes estimated last year that the late monarch’s personal fortune was worth $500 million, made up of her jewels, art collection, investments and
Continue Reading By Danielle Wiener-Bronner, CNN Business Inflation may be slowing, but food prices are still through the roof. Food costs spiked 11.4% over the past year, the largest annual increase since May 1979, according to data released Tuesday by the Bureau of Labor Statistics. Americans browsing the supermarket aisle will notice most food items are far
Continue Reading By Paul R. La Monica, CNN Business Prices at the pump have fallen along with the cost of a barrel of crude oil. But the CEO of Chevron, one of the world’s largest energy companies, thinks consumers in the United States should be prepared for a shock when they get home heating bills this winter.
Continue Reading By Chris Isidore, CNN Business FedEx warned that a global recession could be coming, as demand for packages around the world tumbles. Shares of FedEx plunged 21% Friday — the biggest one-day drop in its history — after the company warned late Thursday that a slowing economy will cause it to fall $500 million short
Continue Reading By Alicia Wallace, CNN Business US inflation ticked back up in August, despite plunging gas prices, according to data from the Bureau of Labor Statistics released Tuesday. On a monthly basis, consumer prices rose 0.1% from July, according to the Consumer Price Index, which measures a basket of consumer goods and services. Economists had projected
Continue Reading By Nicole Goodkind, CNN Business Federal Reserve Chairman Jerome Powell has a big problem, and he can’t do anything about it. Gasoline prices in the United States, which have fallen for 91 consecutive days, are expected to have driven a slight decline in prices in August compared to July, according to analyst estimates for inflation
Continue Reading Martha C. White for CNN Business Small business sentiment improved in August but remains depressed as business owners face an uncertain economic landscape. Buoyed by marginally better expectations in the near term and a slight reduction in inflation worries, the monthly Small Business Optimism Index from the National Federation of Independent Business rose to 91.8
Continue Reading By Parija Kavilanz, CNN Business The kids, the grandparents, the babysitter, maybe your favorite aunt or uncle. That’s it. You can blame inflation for families knocking friends, co-workers and extended families off your holiday gift lists this year. Persistent inflation — consumer prices increased by 8.5% in July over last year — has reshaped how
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