By Chris Isidore, CNN Business The blast at a Texas oil refinery early Thursday will probably push already high gasoline prices even higher — although not immediately. The blast and resulting fire at the ExxonMobil plant in the Houston-area city of Baytown, Texas, injured at least four workers. The accident could hamper output at one
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By Anneken Tappe, CNN Business Prices remain high in America, and inflation shows no sign of slowing down anytime soon. A key measure of US inflation rose 5.7% in the 12 months ended in November, the Bureau of Economic Analysis said Thursday. It was the fastest increase in the consumer spending price index since July
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By Chris Isidore, CNN Business Tesla reversed course Thursday and will no longer allow video games to be played on its cars’ touchscreens when they are in motion, bowing to an investigation of the feature by federal safety regulators. “Following the opening of a preliminary evaluation of Tesla’s ‘Passenger Play,’ Tesla informed the agency that
Continue Reading By Chris Isidore, CNN Business Tesla reversed course Thursday and will no longer allow video games to be played on its cars’ touchscreens when they are in motion, bowing to an investigation of the feature by federal safety regulators. “Following the opening of a preliminary evaluation of Tesla’s ‘Passenger Play,’ Tesla informed the agency that
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Opinion by Davis Smith for CNN Business Perspectives When I was 4 years old, my family left the United States and moved to Latin America, where I spent my childhood and much of my adult life. My father always had a new outdoor adventure planned, whether fishing for piranha on a self-made raft in the
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By Rachel Metz, CNN Business For many, 2021 was a mix of hopeful and challenging, as covid vaccines became more widely available but the pandemic dragged on for another year. And while technology continued to keep us entertained and connected during the pandemic, it also made our lives harder. There were times this year when
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By Charles Riley, CNN Business Electric cars are taking over the streets, big companies are trying to be nicer to the environment and people are taking action to stop climate change. But here’s a reality check: The world could consume more oil in 2022 than ever before. Global energy demand rebounded strongly this year as
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By Teele Rebane, CNN Business Intel has apologized in China following a backlash over a directive to suppliers not to source products or labor from the Xinjiang region. The US chipmaker told suppliers in a letter dated December 2021 that it “is required to ensure our supply chain does not use any labor or source
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By Laura He, CNN Business Tencent is dramatically cutting its stake in JD.com, China’s second largest e-commerce company, as it seeks to stay on the right side of Beijing, which has been cracking down on tech giants to rein in their growing power and influence. Tencent plans to distribute more than $16 billion worth of
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By Diksha Madhok, CNN Business India’s stock market celebrated an extraordinary year as some of the country’s buzziest tech firms made their public debuts. And while one high-profile blunder cast a chill over the festivities, that’s probably not enough to stop the excitement in 2022. By December, more than $15 billion had been raised in
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By Paul R. La Monica, CNN Business The year’s last day of trading is shaping up to be a quiet one. Stocks were down just slightly Friday morning. But 2021 was still a banner year for Wall Street. The Dow fell about 65 points in late morning trading Friday, or 0.2%. It is up 19%
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By Anna Bahney, CNN Business Home sales in November were up from the prior month as buyers rushed to take advantage of low interest rates, keeping 2021 on track for the strongest year since 2006. Prices continued double digit annual jumps as inventory remained at historic lows. The affordability challenge of buying a home pushed
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By Paul R. La Monica, CNN Business Despite the Omicron variant of Covid-19, some travel restrictions and event cancellations, it seems many Americans are still getting ready to go away for the holidays — and planning much-needed vacations for 2022. That’s been great news for the beleaguered travel sector. Shares of cruise line operators Carnival
Continue Reading By Paul R. La Monica, CNN Business Despite the Omicron variant of Covid-19, some travel restrictions and event cancellations, it seems many Americans are still getting ready to go away for the holidays — and planning much-needed vacations for 2022. That’s been great news for the beleaguered travel sector. Shares of cruise line operators Carnival
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By Clare Duffy, CNN Business One of the most closely-watched annual tech conferences, CES, is going ahead with plans to hold an in-person event in two weeks, even as a growing number of prominent technology companies are pulling the plug on their plans to attend in person amid a surge in Covid-19 cases. Amazon, Meta,
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By Brian Fung, CNN Business From mask requirements to waived change fees, the pandemic has dramatically changed what it’s like to fly. But beginning early next year, even more changes could be coming to air travel — ones that have nothing to do with the coronavirus. These changes could lead to flight delays or diversions
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By Richard Davis, CNN Business In a series of tweets late Tuesday, Bill Gates says he plans to cancel most of his holiday plans and warned that that the United States “could be entering the worst part of the pandemic.” Asserting that the Omicron variant is spreading faster than any virus in history, the billionaire
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By Anneken Tappe, CNN Business Americans are feeling more optimistic about the recovery, which has continued to go strong into the final month of the year. And this is good news for the New Year as well. A measure of consumer confidence has risen to 115.8 points in December, more than economists had predicted and
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By Brian Fung, CNN AT&T and Verizon have agreed to postpone their planned rollouts of 5G infrastructure near airports by two weeks, averting — for now — feared widespread disruptions to air travel and shipping as well as a potential legal battle over the matter. Both carriers confirmed late Monday evening that they will hold
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CNN Business Staff Supply shortages are everywhere. New smartphones have been hit by shipping delays and video game consoles are almost impossible to find. But as we do each year, the staff at CNN Business is reflecting on the tech, services and apps that made a big impact on our everyday lives in 2021 —
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