By Matt Egan, CNN Business Senator Elizabeth Warren is accelerating her push to break up Amazon, arguing that the $1.7 trillion company is simply too powerful. “Amazon has the power and uses it to smash little businesses before they ever get a foothold,” the Massachusetts Democrat told CNN in a phone interview. Warren argues it’s
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By Paul R. La Monica, CNN Business Wall Street powerhouse Goldman Sachs reported earnings that easily topped analysts’ expectations, capping a stellar week of bank results and helping to power the broader market to solid gains Friday. Goldman Sachs said that it posted a profit of $5.4 billion for the third quarter, which works out
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By Paul R. La Monica, CNN Business Bitcoin prices continued their October surge on Friday, topping $60,000 on hopes that the Securities and Exchange Commission will soon approve a bitcoin futures exchange-traded fund. Cryptocurrency investors were excited by a tweet from the verified account of the SEC’s Office of Investor Education and Advocacy late Thursday
Continue Reading By Paul R. La Monica, CNN Business Bitcoin prices continued their October surge on Friday, topping $60,000 on hopes that the Securities and Exchange Commission will soon approve a bitcoin futures exchange-traded fund. Cryptocurrency investors were excited by a tweet from the verified account of the SEC’s Office of Investor Education and Advocacy late Thursday
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Opinion by Chuck Collins for CNN Business Perspectives The revelations from the Pandora Papers have rocked the world. They showed that wealthy celebrities, political figures, billionaires and heads of state around the globe are sheltering assets in offshore tax havens, including here in the United States. As with the Panama Papers that were released five
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By Peter Valdes-Dapena, CNN Business The all-electric Mercedes EQS may well be one of the most important cars in company’s history. And that’s saying a lot, because that’s a whole bunch of history. Mercedes-Benz and its direct ancestor companies have been making internal combustion-powered automobiles longer than any company on Earth. Karl Benz applied for
Continue Reading By Peter Valdes-Dapena, CNN Business The all-electric Mercedes EQS may well be one of the most important cars in company’s history. And that’s saying a lot, because that’s a whole bunch of history. Mercedes-Benz and its direct ancestor companies have been making internal combustion-powered automobiles longer than any company on Earth. Karl Benz applied for
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By Nathaniel Meyersohn, CNN Business Prices on consumer goods are rising in the United States and tangled supply chains are making it harder for shoppers to always get exactly what they want. But these factors are not yet slowing down US shoppers. Consumers are still dishing out on sporting goods, clothing, furniture, and groceries and
Continue Reading By Julia Horowitz, CNN Business The biggest US banks move trillions of dollars around the world every day. That gives them a unique lens on how the economy is functioning, both in the United States and globally. And despite concerns about inflation, workers quitting, supply chain issues and slowing growth, bank executives just delivered a
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By Walé Azeez, CNN Business Virgin Galactic has pushed back the start of full commercial service to the fourth quarter of next year, sending shares in the space tourism company founded by billionaire Richard Branson down sharply. The stock dropped 14% in early trading on Friday after Virgin Galactic said it was making schedule changes
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By Charles Riley, CNN Business William Shatner is firing a rhetorical rocket back at Prince William after the future king criticized space tourism. Shatner, who blasted into space earlier this week on one of Amazon founder Jeff Bezos’ rockets, said the British royal has “got the wrong idea” by saying that solving problems on Earth
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By Michelle Toh, CNN Business Evergrande‘s unraveling is still commanding global attention, but its troubles are part of a much bigger problem. For weeks, the ailing Chinese real estate conglomerate has made headlines as investors wait to see what will happen to its enormous mountain of debt. As the slow-moving crisis unfolds, analysts are pointing
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By Chris Isidore, CNN Business A federal grand jury has indicted a former key executive of Boeing for fraud, alleging he deceived the Federal Aviation Administration while it was first certifying the 737 Max jet that would go on to have two fatal crashes caused by design flaws. The charges are the first criminal charges
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By Sean Lyngaas, CNN Missouri Gov. Mike Parson on Thursday called for an investigation of a journalist for finding, helping fix and reporting about a vulnerability in a government website that exposed the Social Security numbers of teachers in the state. Parson said he had notified the Cole County prosecutor and that the Missouri State
Continue Reading By Walé Azeez, CNN Business Microsoft chief digital officer Jacky Wright has been named the United Kingdom’s most influential Black person. But the US-based executive says she might not have reached the top of her profession had she stayed in Britain. Wright, who topped the Powerlist 2022 ranking from Powerful Media, told CNN Business that
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By Matt Egan, CNN Business Democratic Senator Elizabeth Warren voiced her support Thursday for striking John Deere workers, saying that the recent spate of high-profile strikes signals a shift in the balance of power between business and workers. “Workers have gotten the short end of the stick for decades now,” Warren told CNN in a
Continue Reading By Matt Egan, CNN Business Democratic Senator Elizabeth Warren voiced her support Thursday for striking John Deere workers, saying that the recent spate of high-profile strikes signals a shift in the balance of power between business and workers. “Workers have gotten the short end of the stick for decades now,” Warren told CNN in a
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By Julia Chatterley In its efforts to battle rising inflation, the Federal Reserve may start rolling back some of its massive pandemic-related stimulus. In minutes from its September meeting released Wednesday, the Federal Reserve signaled that it could begin tapering its monthly purchases of Treasury and mortgage-backed securities as soon as November. The bond purchases
Continue Reading By Alicia Wallace, CNN Business Pork, much like everything else these days, has gotten more expensive due in part to the supply chain issues and inflationary pressures spurred by the pandemic. And now comes another wildcard: The pork industry’s ability — and desire — to adapt to a new animal welfare law in California, its
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By Alexis Benveniste, CNN Business Butterball issued a recall on more than 14,100 pounds of ground turkey products Wednesday after consumers told food safety regulators that they found pieces of blue plastic embedded in their raw ground turkey. The items being recalled are the company’s 2.5-pound “farm to family Butterball all natural Ground Turkey” trays
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