Opinion by Geoff Murray, Andrew Medland and Rory Heilakka for CNN Business Perspectives The ongoing pilot shortage has already wreaked havoc on summer vacation travel in the United States — and it’s only the beginning. With too few pilots to meet demand, the industry is likely to be in store for even higher airfares, more
Continue Reading By Clare Duffy, CNN Business In an early victory for Twitter, a judge on Tuesday ruled that the company’s lawsuit against Elon Musk over their $44 billion acquisition agreement should go to a five-day trial in October. The decision came at the end of the first hearing in the case over whether to expedite the
Continue Reading By Julia Horowitz, CNN Business Global supply chains are still a snarled mess, disrupting deliveries of goods, adding to headaches for businesses and feeding the worldwide surge in inflation. The good news: There are some indications that the situation is beginning to get better. The bad news: Huge risks — from another spike in coronavirus
Continue Reading By Chris Isidore, CNN Business General Motors said strong sales and demand for vehicles doesn’t suggest any signs of an economic slowdown, but the company is preparing for a possible recession — just in case. GM reported a sharp drop in earnings Tuesday, but that was caused by Covid lockdowns in China, one of its
Continue Reading By Clare Duffy, CNN Business In an early victory for Twitter, a judge on Tuesday ruled that the company’s lawsuit against Elon Musk over their $44 billion acquisition agreement should go to a five-day trial in October. The decision came at the end of the first hearing in the case over whether to expedite the
Continue Reading By Anna Cooban, CNN Business Workers in the United Kingdom are struggling with the biggest drop in pay in more than two decades, as surging food and energy prices take a giant bite out of wages. Real pay — workers’ wages that take inflation into account — slumped by 2.8% between March and May compared
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The city sent out a survey to the community to see what areas they would like to see the second half of the second half of the funds on.
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors revealed a new electric mid-sized SUV, the Chevrolet Blazer EV, that will go on sale in about a year. Part of GM’s push to go all-electric in a little over a decade, the Blazer EV will join an increasingly competitive market for electric SUVs. But its real appeal
Continue Reading By Chris Isidore, CNN Business Gasoline for less than $4 a gallon is back, at least in some spots. Nearly one in five gas stations is charging under the $4 mark for a gallon of regular gas, according to OPIS, which surveys US gas stations to compute price averages for AAA. That’s about 24,000 stations
Continue Reading By Vanessa Yurkevich, CNN The Staten Island ferry, known for getting residents and commuters to and from Lower Manhattan to Staten Island in 25 minutes, is slowing the frequency of rides, due to an uptick in Covid-19 cases among its staff members, the New York City Department of Transportation announced. New York City’s positivity rate
Continue Reading By Brian Fung, CNN Business Two Democratic senators are planning to reopen a high-stakes battle over internet access in the coming weeks, with a bill aiming to restore net neutrality regulations for broadband providers that a Republican-led Federal Communications Commission gutted in 2017. The draft bill from Sens. Ed Markey and Ron Wyden would explicitly
Continue Reading By Danielle Wiener-Bronner, CNN Business As prices surge and the UK economy struggles more than most of its peers, Starbucks is reportedly looking for an exit. The company is engaged with advisers to determine whether it could — or should — sell its business in the United Kingdom, according to UK newspaper The Times. Asked
Continue Reading By Danielle Wiener-Bronner, CNN Business KFC is trying out a new type of chicken nugget in an effort to attract younger consumers. Starting Monday, the chicken chain is offering Kentucky Fried Chicken Nuggets in restaurants in Charlotte, North Carolina, for a limited time. The nuggets are made with white meat and KFC’s signature 11 herbs
Continue Reading By Eoin McSweeney, Mostafa Salem and Celine Alkhaldi France is in the midst of an energy crisis: Russia continues to cut off supply to Europe while historic heatwaves are causing a spike in demand for gas to cool homes. A cold winter lies ahead if prices continue to rise. But some help, temporary at least,
Continue Reading By Paul R. La Monica, CNN Business One share of Google’s parent company Alphabet is suddenly a lot more affordable for Main Street investors — following a massive stock split that took effect Monday. Alphabet split its two classes of shares by a 20-to-1 margin, a move that reduced the price of one share from
Continue Reading By Ramishah Maruf, CNN Business Once left for dead, Toys “R” Us is making a major comeback. The toy store brand will be just about everywhere for the holidays. Toys “R” Us will be in every US Macy’s in the next few months, part of an expanded partnership with the toy retailer’s parent company, WHP
Continue Reading By Ramishah Maruf, CNN Business Once left for dead, Toys “R” Us is making a major comeback. The toy store brand will be just about everywhere for the holidays. Toys “R” Us will be in every US Macy’s in the next few months, part of an expanded partnership with the toy retailer’s parent company, WHP
Continue Reading By Ramishah Maruf, CNN The attorney general of the state of Ohio couldn’t match the job of a local reporter who confirmed the case of a 10-year-old rape victim who traveled from Ohio to Indiana to receive an abortion, CNN analyst Bill Carter said on “Reliable Sources” Sunday. “There is not a damn scintilla of
Continue Reading By Anna Bahney, CNN Business Anyone who bought a home — or tried to — over the past couple of years knows that it was rip-roaringly competitive, with buyers offering well above asking price and all-cash deals. But it actually could have been worse. One group all but disappeared from the market during the pandemic:
Continue Reading By Paul R. La Monica, CNN Business Goldman Sachs is clearly still the top dog on Wall Street. The investment banking powerhouse reported earnings and revenue Monday morning for the second quarter that easily topped analysts’ forecasts. Goldman Sachs posted a profit of $2.9 billion, or $7.73 a share, during the three months ending in
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