By Brian Fung, CNN Business Hundreds of thousands of leaked Uber documents obtained by The Guardian and shared with a consortium of news outlets show how during its most aggressive period of growth, the ride-hailing company reportedly employed secret technology to thwart police investigations, sought favors from high-ranking government officials and even perceived a silver
Continue Reading By Lucy Bayly, CNN Business Consumer expectations for prices to continue rising over the next year increased to the highest level on record, according to the latest Survey of Consumer Expectations from the Federal Reserve Bank of New York, released on Monday. Median short-term inflation expectations ticked up to 6.8% in June from 6.6% in
Continue Reading By Julia Horowitz, CNN Business Since the West hit Russia with bruising sanctions following its invasion of Ukraine, a frightening question has loomed: What if Russia turns off natural gas to Europe? It’s a nightmare scenario that would plunge the region’s economy into a deep recession. That possibility is the subject of fresh hand-wringing as
Continue Reading Opinion by Joseph H. Davis for CNN Business Perspectives The United States economy is in jeopardy. Higher prices for essentials like food and energy are crimping household incomes, while stronger consumer demand has pushed up the prices for a range of goods and services, from travel to apartments. Given this backdrop, many economists believe that
Continue Reading Opinion by Joseph H. Davis for CNN Business Perspectives The United States economy is in jeopardy. Higher prices for essentials like food and energy are crimping household incomes, while stronger consumer demand has pushed up the prices for a range of goods and services, from travel to apartments. Given this backdrop, many economists believe that
Continue Reading By Nicole Goodkind, CNN Business For the first time in 20 years, the exchange rate between the euro and the US dollar is nearly the same — the two currencies are less than one cent away from parity. The euro hovered around $1.004 on Monday afternoon, down about 12% since the start of the year.
Continue Reading By Jordan Valinsky, CNN Business McDonald’s and Wendy’s are both giving away free fries this week. On Wednesday, in celebration of the (apparently real) National French Fry Day, McDonald’s will give away free orders of large fries — with no purchase necessary. However, the free fries can only be ordered through the McDonald’s app, and
Continue Reading By Julia Horowitz, CNN Business When Elon Musk announced his intention to buy Twitter almost 90 days ago, the world — and financial markets — looked different. The S&P 500 was 14% higher and had yet to enter a bear market. The war in Ukraine and inflation concerns had pushed investors into selling mode, but
Continue Reading By Jordan Valinsky, CNN Business Bad news for Twitter could turn out to be good news for former President Donald Trump. Shares of Digital World Acquisition Corp., the special purpose acquisition company that has agreed to merge with Trump Media & Technology Group, surged 15% in premarket trading Monday morning after Elon Musk said he
Continue Reading By Chris Isidore, CNN Business Elon Musk mocked Twitter’s efforts to force him to purchase the company — in a tweet, of course. Early Monday, Musk tweeted four images of him laughing next to captions that read: “They said I couldn’t buy Twitter. Then they wouldn’t disclose bot information. Now they want to force me
Continue Reading By Laura He, CNN Business Chinese stocks fell on Monday as the threat of new Covid restrictions and a renewed regulatory offensive against big tech companies sapped investor confidence. Casinos in the gambling hub of Macao were ordered to close for the first time since February 2020 because of a Covid outbreak, sending shares of
Continue Reading By Nectar Gan, CNN Chinese authorities on Sunday violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis. Since April, four rural banks in China’s central Henan province have frozen millions of dollars worth of deposits,
Continue Reading By Ramishah Maruf, CNN After announcing he wants out of his deal to buy Twitter, Elon Musk spent the weekend in Idaho at the Sun Valley Conference. He spoke on stage, essentially off the record, but a source in the room told CNN’s chief media correspondent Brian Stelter that Musk tripled down on his decision
Continue Reading By Matt McFarland, CNN Business Jason Simon placed an order for a Tesla Model 3 this April, eager to own an electric vehicle. He heard from Tesla in June that his car was ready, but he backed out of the purchase, losing the $250 order fee he paid. Simon told CNN Business his feelings changed
Continue Reading By Frank Pallotta, CNN Business Former WWE chief executive Vince McMahon paid more than $12 million to four women to cover up “allegations of sexual misconduct and infidelity,” according to a Wall Street Journal report. The women, all of whom were involved with WWE, signed agreements with McMahon that “prohibit them from discussing potential legal
Continue Reading By Frank Pallotta, CNN Business The God of Thunder still has some pop. “Thor: Love and Thunder,” the latest film in the Marvel Cinematic Universe, made an estimated $143 million domestically for its opening this weekend, according to Disney. That number is on par with industry expectations, which had the film making around $150 million
Continue Reading By Nicole Goodkind, CNN Business Earnings season is upon us once again! It’s just like the holiday season except instead of presents and sweets we get financial results and conference calls. Big bank earnings will mark the unofficial beginning of the second quarter earnings period when they report next week, starting with JPMorgan Chase on
Continue Reading By Catherine Thorbecke, CNN Business In the two decades since it was first included in products available to the general public, Bluetooth has become so widespread that an entire generation of consumers may not be able to remember a time without it. ABI Research estimates that 5 billion Bluetooth-enabled devices will ship to consumers this
Continue Reading by Vanessa Yurkevich, CNN Another record breaking number of imports passed through the US’s major container ports this spring — showing no sign of a slowdown in consumer demand, the National Retail Federation, or NRF, said Friday. “Cargo volume is expected to remain high as we head into the peak shipping season, and it is
Continue Reading By Clare Duffy, CNN Business The Securities and Exchange Commission has continued to examine Elon Musk’s investment in and $44 billion deal to buy Twitter. A letter sent by the SEC to Musk on June 2 includes questions about the billionaire’s use of Twitter to discuss the deal, including his tweets about the deal being
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