By Kashif Kakvi, Rhea Mogul and Esha Mitra, CNN Shahdullah Baig stands among the rubble of what was once his modest two-bedroom home, his belongings buried under debris and broken bricks. “In the blink of an eye, my home was demolished,” said the 45-year-old fruit seller, whose kitchen, fruit cart, and cattle shed have ​all
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By Oliver Darcy, CNN Business Spotify and the Obamas are headed for a split. The streaming service and former first family will not be inking a new deal, a person familiar with the matter told CNN. The person said that Spotify did not make an offer for the rights to distribute the content from Higher
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By Brian Fung, CNN Business The European Union is warning Apple about possible antitrust violations after an investigation into the iPhone maker’s dominance in mobile retail payments. The European Commission said Monday that it believes Apple has unfairly blocked competitors from using the wireless communications technology behind Apple Pay’s tap-to-pay capabilities. According to a statement
Continue Reading By Rishi Iyengar, CNN Business Workers at an Apple Store in Atlanta filed for a union election on Wednesday in a bid to become the first group of retail employees at the tech giant to unionize. The Apple workers filed with the Atlanta office of the National Labor Relations Board, the agency confirmed to CNN
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By Chris Isidore, CNN Business Tesla has posted record profits once again, overcoming supply chain issues that have dogged the broader auto industry to blow away Wall Street’s forecast for the company for the first quarter of 2022. But the company warned that it is not immune from supply chain problems, which it said limited
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By Oliver Darcy, CNN Business A Texas judge on Wednesday postponed a trial that will determine how much right-wing conspiracy theorist Alex Jones will have to pay the families of two Sandy Hook shooting victims. The trial had been set to start next week. The delay came after three companies tied to Jones, including the
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By Matt McFarland, CNN Business Amtrak is embroiled in a fight that may have vast implications for the future of US rail service, including the billions of dollars devoted to it from the bipartisan infrastructure bill. Amtrak, which typically speaks in a mild-mannered tone on social media, has reinvented itself as a flamethrower that’s launching
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By Frank Pallotta, CNN Business Call Eleven and Sheriff Hopper of “Stranger Things,” because Netflix’s world has been turned upside down. The company reported Tuesday that it lost subscribers for the first time in more than a decade. The news shocked Wall Street and sent shares plummeting 35% Wednesday morning, wiping out $50 billion in
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By Frank Pallotta, CNN Business Netflix shares plunged this week after the platform reported its first subscriber loss in more than a decade. One factor the company pointed to as hurting revenue: widespread password sharing. Does this mean the streamer is about to kick millions of viewers off shared accounts? Not quite. But it could
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By Anna Bahney, CNN Business Home prices hit an all-time high in March as buyers scrambled to close deals before mortgage rates rise even further. The median existing-home price for all housing types in March was $375,300, up 15% from the year before, according to the National Association of Realtors. That marks more than a
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By Mark Thompson and Chris Liakos, CNN Business One of Russia’s richest men has quit as CEO of Lukoil, the country’s second-largest oil company. In a brief statement Thursday, Lukoil said Vagit Alekperov informed the company “about his decision to resign” as a director and president of the company. The company did not disclose the
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By Kathryn Vasel Your resume can be the first impression you make with a potential employer. So you want to put your best foot forward when crafting one. “This is a storytelling exercise about what makes you so compelling,” said Debra Wheatman, certified resume writer and career coach. “You need to look at this as
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Opinion by Philip Baggaley for CNN Business Perspectives Ever since Covid-19 nearly shut down travel two years ago, US airlines and travelers have been dealing with frustration and uncertainty. They’ve endured several waves of the virus, government-mandated restrictions on travel and service problems as airlines struggled to staff up for a resurgence in demand. All
Continue Reading By Anneken Tappe, CNN Business A half-percentage point interest rate hike is officially on the table, Federal Reserve Chairman Jerome Powell said Thursday, as the central bank prepares to get inflation under control. “50 basis points will be on the table for the May meeting,” Powell said during a panel at the International Monetary Fund
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By Clare Sebastian and Chris Liakos, CNN Oleg Tinkov, the billionaire founder of a big Russian digital bank, has blasted Russia’s “insane war” in Ukraine and urged the West to help President Vladimir Putin find an off-ramp to “stop this massacre.” Russia’s brutal assault on its neighbor began nearly two months ago. Thousands of Ukrainian
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By Julia Horowitz, CNN Business Shares of Netflix are imploding after the company reported its first quarterly loss of subscribers in more than a decade, far underperforming expectations and worrying investors that had been betting that a handful of big tech companies would continue to grow at a rapid clip. What’s happening: Netflix’s stock dropped
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By Peter Valdes-Dapena, CNN Business Electric vehicles, with their need for lots of expensive batteries, have often trended towards luxury. Electric cars from Porsche, Mercedes, and Audi have all hit the market in recent years. BMW has come out with its own electric cars like the iX and i4 and now the new i7, a
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By Michelle Toh, Jake Kwon and Lizzy Yee, CNN Business Hong Kong’s Covid-19 curbs are continuing to severely limit travel into the city, with only one flight from outside the Asia Pacific region landing on Tuesday and Wednesday. The government recently allowed flights from nine countries, including Australia, the United Kingdom and the United States,
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By Alicia Wallace, CNN Business April is typically a pretty eventful month for the cannabis industry, with 4/20 celebrations bringing abundant attention — and sales. But things have been heating up much earlier this year. In the first four days of April, the US House of Representatives (once again and narrowly) passed a bill to
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By Anna Cooban, CNN Business The price of goods leaving German factories has passed an eye-watering milestone. German annual producer price inflation topped 30% in March, the country’s Federal Statistics Office said on Wednesday. That’s its highest level since the agency began collecting data 73 years ago. The biggest culprit? Energy prices, which rose nearly
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