By Nicole Goodkind, CNN Business The mission of the Federal Reserve is to foster the stability of US monetary systems. It’s the reason the central bank was created in 1913, and it’s the reason it still exists today. So when inflation threatens to potentially destabilize the dollar, it’s the Fed’s job to spring to action.
Continue Reading By Brian Stelter and Nicole Goodkind, CNN Mark Shields, the political sage and longtime analyst for CNN and PBS, died Saturday morning at the age of 85, the anchor of PBS NewsHour confirmed. Shields was well known for his “encyclopedic knowledge of American politics, his sense of humor and mainly his big heart,” wrote Judy
Continue Reading By Brian Stelter and Nicole Goodkind, CNN Mark Shields, the political sage and longtime analyst for CNN and PBS, died Saturday morning at the age of 85, the anchor of PBS NewsHour confirmed. Shields was well known for his “encyclopedic knowledge of American politics, his sense of humor and mainly his big heart,” wrote Judy
Continue Reading By Nicole Goodkind, CNN Business Americans gained a new federal holiday last year: Juneteenth. This year the holiday, which commemorates of the end of slavery in the United States, falls on Sunday but it will be observed in many places on Monday, June 20. Given that this long summer weekend also coincides with Father’s Day,
Continue Reading By Nicole Goodkind, CNN Business The price of bitcoin breached $19,000 and ethereum fell below $1,000 Saturday morning, extending the brutal crypto bear market to new lows. Bitcoin plunged nearly 10% in less than 24 hours, adding to a series of sustained losses over the last several months. It now sits below $20,000 for the
Continue Reading By Parija Kavilanz, CNN Business In 2020, when the pandemic brought all nonessential travel to a grinding halt, Ami and Jason Richter had to think fast. They were running a flourishing business called Lug that sold fun travel bags and accessories and had a growing legion of fans, which included Oprah. But as travel bans
Continue Reading By Nathaniel Meyersohn, CNN Business Most Americans facing record gas prices cringe when they fill up their tanks. But not people in New Jersey and Oregon. They’re not allowed to touch the gas nozzle. Seriously. In New Jersey, it’s been illegal for drivers to pump their own gas since 1949. A ban on self-service gas
Continue Reading By Zoe Sottile, CNN Cheese-lovers can now wear their favorite dairy product on their fingertips, thanks to Velveeta and British nail polish brand Nails Inc. A limited-edition set of two cheese-scented polishes will cost cheese fanatics $15 on the Nails Inc. website. It includes two shades: “Finger Food,” a bright red, and “La Dolce Velveeta,”
Continue Reading By Frank Pallotta, CNN Business Vince McMahon is in the middle of a corporate firestorm, but he still opened the company’s wrestling telecast “Smackdown” on Friday. “Mr. McMahon,” the executive’s in-ring persona, kept things short. “It’s a privilege as always to stand before you here tonight,” McMahon said to the crowd in Minneapolis, Minnesota. McMahon
Continue Reading By Frank Pallotta, CNN Business Vince McMahon is in the middle of a corporate firestorm, but he still opened the company’s wrestling telecast “Smackdown” on Friday. “Mr. McMahon,” the executive’s in-ring persona, kept things short. “It’s a privilege as always to stand before you here tonight,” McMahon said to the crowd in Minneapolis, Minnesota. McMahon
Continue Reading By Gregory Wallace and Brian Fung, CNN Mobile phone carriers have agreed to another delay in rolling out some 5G service to prevent interference with airplane technology, the Federal Aviation Administration said Friday. The FAA said the delay, for an additional year, will allow more time for the permanent fix: replacing or filtering the devices
Continue Reading By Clare Duffy and Brian Fung, CNN Business Congressional Democrats are urging Google to prevent searches for abortion clinics from returning results and ads that direct users to facilities that oppose the procedure, saying misleading search results on where to get an abortion could put women’s health at risk. Sen. Mark Warner and Rep. Elissa
Continue Reading By Clare Duffy and Brian Fung, CNN Business Congressional Democrats are urging Google to prevent searches for abortion clinics from returning results and ads that direct users to facilities that oppose the procedure, saying misleading search results on where to get an abortion could put women’s health at risk. Sen. Mark Warner and Rep. Elissa
Continue Reading By Jennifer Korn As the Golden State Warriors and their star point guard Steph Curry surged ahead of the Boston Celtics in Game 6 on Thursday to win their fourth NBA championship in eight seasons, it should also have been a win for the crypto industry. The Warriors were said to have previously inked a
Continue Reading By Brian Fung, CNN Business TikTok has moved its US user data to Oracle’s cloud platform, the short-form video app announced Friday. The decision addresses concerns from US officials that the social media company’s Chinese ties could pose national security risks. In a blog post, TikTok said it has “changed the default storage location of
Continue Reading By Brian Fung, CNN Business TikTok has moved its US user data to Oracle’s cloud platform, the short-form video app announced Friday. The decision addresses concerns from US officials that the social media company’s Chinese ties could pose national security risks. In a blog post, TikTok said it has “changed the default storage location of
Continue Reading By Brian Fung, CNN As Senate lawmakers embark on a final, urgent push to pass landmark antitrust legislation to reshape the tech industry, Big Tech is bringing out its heaviest hitters to influence the members whose votes could decide the bill’s fate. Next week, Google CEO Sundar Pichai will travel to Washington to meet with
Continue Reading By Reuters Private rocket company SpaceX fired at least five employees after it found they had drafted and circulated a letter criticizing founder Elon Musk and urging executives to make the firm’s culture more inclusive, two people familiar with the matter said. SpaceX did not immediately respond to a Reuters request for comment. The New
Continue Reading By Clare Duffy, CNN Business Social media company Snap may be jumping on the paid subscription service bandwagon with a new offering called Snapchat+. Rumors swirled on Twitter Thursday about a subscription service for the disappearing-photo app that would cost users around $5 a month and allow them to do things like pin a “best
Continue Reading By Alicia Wallace, CNN Business American workers have seen their wages climb faster than at any time since the mid-1980s. But inflation has risen so fast that workers have actually been handed a pay cut instead. Every time inflation ticks up, it takes a bite out of workers’ pay and chews away at their bank
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