By Ramishah Maruf, CNN Business Elon Musk’s personal wealth is now $222 billion, widening his gap as the richest person in the world according to Bloomberg’s Billionaires Index. Musk’s personal wealth skyrocketed an extra $10.6 billion after a secondary share sale by investors, announced last week, valued SpaceX over $100 billion, CNBC reported. Jeff Bezos,
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By Walé Azeez, CNN Business British companies that produce steel, paper, glass, cement, ceramics and chemicals say they will be forced to close factories or pass on rising costs to consumers unless the UK government provides relief from soaring energy prices. The industries, which are major users of natural gas and electricity, are reeling from
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By Jeanne Sahadi, CNN Business If you don’t have a four-year college degree, you’re hardly alone. The majority of US working age adults do not. You may assume you have little chance of developing a well-paying career with benefits and growth potential at a Fortune 500 company. After all, so many jobs require a Bachelor’s
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Opinion by Hester M. Peirce for CNN Business Perspectives As a commissioner at the Securities and Exchange Commission, an important part of my job is protecting investors from the fraudsters who can cause them so much harm. Although swindlers often change their pitch to reflect the day’s most popular trends — cannabis, crypto and clean
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By Charles Riley, CNN Business A trio of economists were awarded the Nobel Prize on Monday for showing that precise — and surprising — answers to some of society’s most pressing questions can be gleaned from experiments rooted in real life. David Card was recognized by the Royal Swedish Academy of Sciences for groundbreaking work
Continue Reading By Julia Horowitz, CNN Business Goldman Sachs is becoming increasingly pessimistic about the US economy as coronavirus support from the government phases out and consumer spending remains on an uncertain path. What’s happening: Over the weekend, the Wall Street bank downgraded its forecast for America’s economic growth, which is closely monitored by the investment community.
Continue Reading By Julia Horowitz, CNN Business Goldman Sachs is becoming increasingly pessimistic about the US economy as coronavirus support from the government phases out and consumer spending remains on an uncertain path. What’s happening: Over the weekend, the Wall Street bank downgraded its forecast for America’s economic growth, which is closely monitored by the investment community.
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By Chris Isidore, Gregory Wallace and Pete Muntean, CNN The problems at Southwest Airlines run deeper than the operational meltdown that caused more than 2,000 flight cancellations in recent days. And they’ll continue well after the airline is back on schedule. Although this weekend’s problems were mainly limited to Southwest, it is by no means
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By Jordan Valinsky, CNN Business Hasbro CEO Brian Goldner is taking medical leave of absence from his role effective immediately, the company announced. In a press release, Hasbro said Goldner is “undergoing continued medical care” following an August 2020 disclosure that he was seeking treatment for cancer in 2014. He has been the toymaker’s CEO
Continue Reading By Ramishah Maruf, CNN Business The long weekend got a bit longer for Southwest customers after the airline canceled more than 2,000 flights Friday through Sunday. The world’s largest low-cost carrier canceled three of every 10 departures it had scheduled on Sunday and the disruption continued into Monday, a federal holiday, with 337 flights —
Continue Reading By Charles Riley, CNN Business A trio of economists were awarded the Nobel Prize on Monday for showing that precise — and surprising — answers to some of society’s most pressing questions can be gleaned from experiments rooted in real life. David Card was recognized by the Royal Swedish Academy of Sciences for groundbreaking work
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By Jill Disis, CNN Business China’s property crisis is ensnaring yet another developer. Modern Land is asking investors for more time to pay back a $250 million bond, according to a company filing with the Hong Kong Stock Exchange on Monday. The payment was due October 25. Modern Land said it wants to extend that
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By Laura He, CNN Business Flooding in northern China is hitting a major coal production center hard, sending coal prices soaring and complicating efforts by Beijing to tackle ongoing power shortages. Heavy rains have forced the closures of 60 coal mines in Shanxi province, China’s largest coal mining hub, according to a statement released Saturday
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By Ramishah Maruf, CNN Business It’s been a tough week for Facebook. Whistleblower Frances Haugen testified to Congress that the company is aware that its platforms are used to spread hate and misinformation but has failed to take action to prevent it. The social media giant and several of its services were also hit with
Continue Reading By Ramishah Maruf, CNN Business It’s been a tough week for Facebook. Whistleblower Frances Haugen testified to Congress that the company is aware that its platforms are used to spread hate and misinformation but has failed to take action to prevent it. The social media giant and several of its services were also hit with
Continue Reading By Ramishah Maruf, CNN Business The long weekend got a bit longer for Southwest customers after the airline canceled more than 2,000 flights Friday through Sunday. The world’s largest low-cost carrier canceled three of every 10 departures it had scheduled on Sunday and the disruption continued into Monday, a federal holiday, with 337 flights —
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By Alaa Elassar, CNN Teachers are going to get a little extra lovin’ this week with free breakfast “Thank You” meals from McDonald’s as a token of appreciation. Any educator, including teachers, administrators, and school staff can go to McDonald’s from October 11 to October 15 to receive their breakfast meal, McDonald’s said in a
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By Frank Pallotta, CNN Business “No Time to Die,” the latest entry in the James Bond franchise, notched an estimated $56 million at the North American box office this weekend, according to its studio, MGM. That number met the studio’s expectations for the film, which stood at $55 million to $60 million going into the
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By Ramishah Maruf, CNN Business In many parts of the country, what was traditionally known as Columbus Day is now being celebrated as Indigenous Peoples’ Day. But it remains a federal holiday, so some businesses will be closed. President Biden issued a proclamation commemorating Indigenous Peoples’ Day Friday and acknowledged the destruction of native communities
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By Rachel Metz, CNN Business For billions of people around the world, Facebook can be a source for cute baby pictures, vaccine misinformation and everything in between — and all of it surfaces in our feeds with the help of algorithms. Now, hours of testimony and thousands of pages of documents from Facebook whistleblower Frances
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