Sophia Saifi and Diksha Madhok Pakistan’s economic woes show no signs of letting up in 2023. The South Asian nation announced a new energy conservation plan Tuesday as its fragile economy continues to struggle with multiple challenges. The government has ordered all markets to close by 8.30 pm and restaurants by 10 pm, according to
Continue Reading By Nathaniel Meyersohn, CNN Business Victoria’s Secret brand CEO Amy Hauk has resigned less than a year into the job, the company said Tuesday. Hauk, who was also CEO of the company’s Pink apparel brand geared to teens, notified the company of her resignation last week, the company said. She will leave Victoria’s Secret in
Continue Reading By Jennifer Korn and Catherine Thorbecke, CNN Developers at a Microsoft-owned gaming studio voted on Tuesday to form the first ever US union at the tech giant, in a milestone moment both for the company and the video game industry. Some 300 quality assurance workers at Microsoft’s ZeniMax Studios voted to unionize with the Communications
Continue Reading By Jennifer Korn and Catherine Thorbecke, CNN Developers at a Microsoft-owned gaming studio voted on Tuesday to form the first ever US union at the tech giant, in a milestone moment both for the company and the video game industry. Some 300 quality assurance workers at Microsoft’s ZeniMax Studios voted to unionize with the Communications
Continue Reading By Brian Fung, CNN A commercial landlord is suing Twitter for breach of contract after the company allegedly failed to pay rent for one of its offices in San Francisco. The lawsuit concerns Twitter’s office space at 650 California Street, not its main headquarters on Market Street. But it comes after media reports last month
Continue Reading By Samantha Murphy Kelly, CNN Business Apple’s market cap fell below $2 trillion in trading Tuesday for the first time since early 2021 and one year to the day after the company became the first public tech company valued at $3 trillion. Shares of Apple ended Tuesday down nearly 4% after a report raised concerns
Continue Reading By Matt Egan, CNN Many CEOs, investors and consumers are worried about a recession in 2023. But Moody’s Analytics says the more likely scenario is a “slowcession,” where growth grinds to a near halt but a full economic downturn is narrowly avoided. “Under almost any scenario, the economy is set to have a difficult 2023,”
Continue Reading By Jennifer Korn One tech company is trying to help its employees kick off the new year with a clean slate, or at least an emptier calendar. In a memo to employees Tuesday, Shopify said it would do away with all previously scheduled recurring meetings involving three or more people and impose a “two-week cooling
Continue Reading By Jordan Valinsky, CNN Business “The View” returned from its holiday hiatus to pay tribute to its creator, Barbara Walters, who died last week at 93 years old. Whoopi Goldberg began the show saying tributes were “pouring in from around the world” to celebrate Walters’ life and legacy. “The reason why we’re all sitting here,
Continue Reading By Jordan Valinsky, CNN Business “The View” returned from its holiday hiatus to pay tribute to its creator, Barbara Walters, who died last week at 93 years old. Whoopi Goldberg began the show saying tributes were “pouring in from around the world” to celebrate Walters’ life and legacy. “The reason why we’re all sitting here,
Continue Reading By Hanna Ziady, CNN The number of bank robberies in Denmark fell to zero last year, as beefed-up security and reduced use of cash in the Nordic country make holdups less lucrative. Bank heists have been declining steadily since 2000, when 221 took place, or one for nearly every day that branches were open. In
Continue Reading By Jennifer Korn and Oliver Darcy, CNN The NFL showdown between the Cincinnati Bengals and Buffalo Bills, which was postponed in the first quarter after Bills safety Damar Hamlin suffered a cardiac arrest and collapsed on the field, was the most-watched “Monday Night Football” telecast in ESPN history, averaging 23.8 million viewers, according to preliminary
Continue Reading By Jordan Valinsky, CNN Fox Sports host Skip Bayless apologized for hosting his FS1 show “Undisputed” Tuesday morning following a controversial tweet about a football player who suffered a medical emergency during a game. His co-host, former NFL player Shannon Sharpe, did not appear. Buffalo Bills safety Damar Hamlin collapsed mid-game during Monday night’s contest
Continue Reading By Chris Isidore, CNN Tesla shares plunged more than 12% in trading Tuesday, as weaker than expected global sales caused the company’s massive slide in its share price that began last year to continue. Tesla reported record 2022 sales of 1.3 million vehicles, up 40% from the 2021 total, but well below the 50% growth
Continue Reading By Hanna Ziady, CNN Brits are facing another week of travel chaos as rail strikes drag into the new year, disrupting the return to workplaces following the holidays and dealing another blow to retail and hospitality businesses. Some 40,000 rail workers began five days of strike action over pay on Tuesday, shutting down rail services
Continue Reading By Jordan Valinsky, CNN It’s three days into Dry January for those who observe, but that doesn’t mean you can’t touch the vodka. Tito’s Handmade Vodka has enlisted Martha Stewart for a cheeky campaign that helps people who have temporarily abstained from alcohol with some ideas for what to do with their vodka — besides
Continue Reading By Nicole Goodkind, CNN Business Welcome to the first trading day of 2023. Markets are pushing higher but don’t get comfortable just yet — if last year taught us anything it’s to expect the unexpected. On the first trading day of 2022, the S&P 500 and Dow hit record-highs. Later that week, minutes from the
Continue Reading By Kara Scannell, CNN Sam Bankman-Fried, the founder of bankrupt crypto exchange FTX, pleaded not guilty to criminal charges, setting up a high-stakes legal battle that pits him against two of his closest former business partners. The 30-year-old entrepreneur, who is out on a $250 million bond, was arraigned in federal court in Manhattan on
Continue Reading By Anna Cooban, CNN European and Asian stocks pushed higher on the first major trading day of 2023 as investors try to look beyond a gloomy outlook for the world economy, China’s worst Covid outbreak and stubbornly high inflation in Europe. But after a positive start, Wall Street succumbed to fear again. US stocks opened
Continue Reading By Wayne Chang and Juliana Liu, CNN Production at the world’s biggest iPhone factory, disrupted since October by China’s Covid-19 restrictions and worker protests, is now running at nearly full capacity, according to a Chinese state media report. The sprawling campus in central China, owned by Apple supplier Foxconn, was running at 90% of planned
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