By Paul R. La Monica, CNN Business Only a week ago, Bitcoin hit an all-time high of nearly $67,000. But investors have been dumping the world’s most valuable cryptocurrency in favor of the new kid — or rather, new dog — in town: shiba inu. The price of one bitcoin fell more than 5% Wednesday
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By Allison Morrow, CNN Business We all had to find our own ways to cope with the pandemic lockdowns last year. Some people bought Pelotons and baked bread. Others took a slightly less healthy route. Cigarette sales in America last year rose for the first time in two decades, a new report from the Federal
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By Chris Isidore, CNN Business Housing prices are surging to new records with no end in sight. They’re being fueled by historically low interest rates — but also investors and economists’ belief that the housing market has a unique ability to support runaway prices. That’s the current state of America’s housing market, but it could
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By Rachel Metz, CNN Business Facebook said Tuesday it plans to stop using facial-recognition software that could automatically recognize people in photos and videos posted on the social network, marking a massive shift both for the tech industry and for a company known for collecting vast amounts of data about its billions of users. Facebook,
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By Chris Isidore, CNN Business Boeing’s 737 Max troubles are improving, the company’s quarterly results released Wednesday showed — but it’s facing a host of other problems. The aircraft maker increased production of the Max to 19 a month in the third quarter, up from 16 a month in the quarter prior. The company added
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By Rachel Metz, CNN Business In late 2017, Facebook had a big problem: users were commenting on, “liking” and resharing posts less than they had in the past. The declines in engagement, visualized in charts on an internal document viewed by CNN Business, looked like wiggly black-and-blue frowns. Facebook decided to make a change —
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By Samantha Murphy Kelly, CNN Business Google is now making it easier for minors or their parents to have photos of them deleted from search results. In a blog post published Wednesday, the company said it is rolling out a tool that lets parents and kids under the age of 18 request photos be removed
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By Amy Woodyatt, CNN Business The chief executive and founder of shapewear company Spanx has surprised employees with two first-class plane tickets and $10,000 each to celebrate the company’s $1.2 billion deal with Blackstone. Spanx founder Sara Blakely surprised employees with the news, she revealed in a post on her verified Instagram account Friday. In
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By Peter Valdes-Dapena, CNN Business Land Rover just unveiled what will be the first new, redesigned Range Rover in a decade. This is only the fifth generation of the large off-road luxury SUV since the model was introduced in 1970. A sleek new design, with smoothed off corners and edges, retains the classic proportions, but
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By Danielle Wiener-Bronner, CNN Business Higher menu prices, celebrity meals and chicken sandwiches helped boost McDonald’s sales in the third quarter. The company said Wednesday that in the three months ending on September 30, sales at global restaurants open at least 13 months jumped 12.7% compared to the same period last year. Total revenue jumped
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By Clare Duffy and Rishi Iyengar, CNN Business Two months after former US President Donald Trump was inaugurated in 2017, Twitter executive Vijaya Gadde was asked how she felt about his proposition that he might not have won the White House without the social media platform. “To me, there’s nothing better than having a political
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By Chris Isidore, CNN Business Supply chain issues, especially the computer chip shortage, took a major bite out of General Motors’ sales and earnings in the third quarter, but America’s largest automaker was still able to perform better than expected. GM also gave investors a bullish outlook, saying that its full-year earnings should be at
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By Julia Horowitz, CNN Business The growing clout of everyday investors has shaken up Wall Street, forcing hedge funds and big-time asset managers to start paying attention to armchair traders pumping their extra cash into the market. But after a blockbuster start to the year, when traders coordinating on social media sparked a wild rally
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By Matt Egan, CNN Business Venture capitalist Roger McNamee says Corporate America shares blame for the troubles that exist today at Facebook. “What they are doing is willfully turning a blind eye to catastrophic problems that would not exist if they were not willing to advertise on these platforms,” McNamee, an early investor in Facebook,
Continue Reading By Matt Egan, CNN Business Venture capitalist Roger McNamee says Corporate America shares blame for the troubles that exist today at Facebook. “What they are doing is willfully turning a blind eye to catastrophic problems that would not exist if they were not willing to advertise on these platforms,” McNamee, an early investor in Facebook,
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By Sara Ashley O’Brien, CNN Business The high-profile trial of Theranos founder Elizabeth Holmes was delayed multiple times before kicking off last month. Now there are questions about whether there will be enough jurors to get through the second half of the trial. When the trial started on September 8, 12 jurors and five alternates
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By Anneken Tappe, CNN Business From supply chain chaos to worker shortages, America’s economic recovery ran into some serious challenges in the third quarter of the year. Economists polled by Refinitiv expect that between July and September America’s economy grew at the slowest pace since the recovery began — an annualized rate of 2.7% —
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By Diksha Madhok, CNN Business Shiba inu coin soared to a new record on Wednesday, capping a surge of over 60,000,000% over the past year. The parody cryptocurrency — which appears to be inspired by dogecoin, another meme cryptocurrency — is up almost 30% over the past 24 hours, according to CoinGecko. It has pared
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By Laura He, CNN Business Beijing is making one thing clear to the country’s embattled property developers: Pay your debts. All of them. Two major economic and finance agencies on Tuesday called on companies in “key industries” to redeem the principal and interest on their overseas bonds, according to a government statement. Regulators from the
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By Jill Disis, CNN Business Washington is barring a major Chinese state-owned telecommunications firm from operating in the United States over national security concerns — an action that threatens to once again increase tensions between the world’s two largest economies. The US Federal Communications Commission on Tuesday said it has ordered China Telecom to discontinue
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