By Diksha Madhok, CNN Business As Covid-19 wreaked havoc around the world last year, the 39-year-old son of an Indian billionaire was laying the groundwork for a plan he hoped would eventually end the pandemic. Adar Poonawalla — the CEO of Serum Institute of India (SII), the world’s largest vaccine maker — pumped hundreds of
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By Michelle Toh and Yong Xiong, CNN Business Elon Musk is known for setting the internet ablaze with his cryptic tweets. Now he’s doing it in another language. The Tesla and SpaceX CEO tweeted an ancient Chinese poem Monday night. It’s not clear what reference Musk intended, but the tweet, which was titled “Humankind,” included
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “The entire nation is watching” the Virginia governor’s race, Republican candidate Glenn Youngkin told an audience in Richmond on Monday as he urged voters to help him defeat Democrat Terry
Continue Reading By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “The entire nation is watching” the Virginia governor’s race, Republican candidate Glenn Youngkin told an audience in Richmond on Monday as he urged voters to help him defeat Democrat Terry
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By Clare Duffy, CNN Business Facebook whistleblower Frances Haugen said Monday she believes the company would be “stronger” if founder Mark Zuckerberg stepped down as chief executive. “I think it is unlikely the company will change if he remains CEO,” she said during an on-stage interview at the Web Summit tech conference in Lisbon. “I
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By Anneken Tappe, CNN Business Regulators have long been circling cryptocurrencies. Now they have a new target: stablecoins. A Monday report from the President’s Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency urged Congress to slap bank-like rules on the assets. The selling point
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Opinion by Matt Damon and Gary White for CNN Business Perspectives A global shift is happening. Governments are increasingly allocating resources to energy alternatives. Consumers are demanding that companies take active measures to protect the environment through carbon offsets and recyclable packaging. Investors are integrating environmental, social, and governance (ESG) objectives into their investment decisions
Continue Reading Opinion by Matt Damon and Gary White for CNN Business Perspectives A global shift is happening. Governments are increasingly allocating resources to energy alternatives. Consumers are demanding that companies take active measures to protect the environment through carbon offsets and recyclable packaging. Investors are integrating environmental, social, and governance (ESG) objectives into their investment decisions
Continue Reading Opinion by Matt Damon and Gary White for CNN Business Perspectives A global shift is happening. Governments are increasingly allocating resources to energy alternatives. Consumers are demanding that companies take active measures to protect the environment through carbon offsets and recyclable packaging. Investors are integrating environmental, social, and governance (ESG) objectives into their investment decisions
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By Jordan Valinsky, CNN Business A digital currency based off the popular Netflix series “Squid Game” is trading at $0 after its creators cashed out, effectively stealing an estimated $2.1 million from investors. The cryptocurrency, appropriately called SQUID, surged as high as $2,861 before falling to $0 as of Monday, according to CoinMarketCap. The scam,
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By Jackie Wattles, CNN Business Issues with the toilet on board SpaceX’s Crew Dragon capsule will leave a group of four astronauts without a bathroom option during their hours-long trip back home from the International Space Station aboard the 13-foot-wide capsule this month. Instead, the crew will have to rely on “undergarments,” Steve Stich, NASA’s
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By Danielle Wiener-Bronner, CNN Business Coca-Cola has acquired sports-drink maker BodyArmor in a bid to steal market share from Pepsico-owned Gatorade. This is Coca-Cola’s largest brand acquisition, according to a company spokesperson. The beverage giant first took a 15% stake in BodyArmor in 2018. It’s taking control of the remaining part in a $5.6 billion
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By Paul R. La Monica, CNN Business Hertz has made a lot of headlines lately thanks to its deals with Tesla and Uber. Wall Street has noticed, too. But rival rental car company Avis Budget is doing even better. Hertz stock, which currently is listed on Nasdaq’s bulletin board and hopes to return to the
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By Matt Egan, CNN Business Democrats’ $1.75 trillion economic and climate bill could end up delivering a tax cut for the richest 5% of Americans, a new analysis finds. The Build Back Better framework released by the White House last week calls for tax increases on the richest families, including a surtax on multi-millionaires and
Continue Reading By Matt Egan, CNN Business Democrats’ $1.75 trillion economic and climate bill could end up delivering a tax cut for the richest 5% of Americans, a new analysis finds. The Build Back Better framework released by the White House last week calls for tax increases on the richest families, including a surtax on multi-millionaires and
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By Mark Thompson, CNN Business The American chief executive of Barclays, Jes Staley, is stepping down with immediate effect following an investigation by British regulators into his relationship with disgraced financier Jeffrey Epstein, the bank said on Monday. The investigation by the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA)
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By Walé Azeez, CNN Business Elon Musk has offered to sell some of his Tesla stock “right now” if the UN can prove that $6 billion will solve world hunger. His comments came after UN World Food Programme (WFP) director David Beasley challenged the ultra-wealthy — and in particular the world’s two richest men Jeff
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By Pete Muntean and Chris Isidore, CNN Business American Airlines has canceled another 250 flights on Monday, continuing a days-long chain reaction of cancellations that started last week. American says it canceled 1,058 flights on Sunday, or roughly one in every five of its originally scheduled flights. That was on top of the 548 flights
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By Julia Horowitz, CNN Business Another strong earnings season is cheering investors and pushing US stocks to record highs. What’s happening: More than half of the companies in the S&P 500 have reported results. According to FactSet, 82% have beat Wall Street’s profit expectations. That’s helping to produce a “greed” reading on the CNN Business
Continue Reading By Julia Horowitz, CNN Business Another strong earnings season is cheering investors and pushing US stocks to record highs. What’s happening: More than half of the companies in the S&P 500 have reported results. According to FactSet, 82% have beat Wall Street’s profit expectations. That’s helping to produce a “greed” reading on the CNN Business
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