By Julia Horowitz, CNN Business Astronomical increases in natural gas prices. Skyrocketing coal costs. Predictions of $100 oil. A global energy crunch caused by weather and a resurgence in demand is getting worse, stirring alarm ahead of the winter, when more energy is needed to light and heat homes. Governments around the world are trying
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By Anneken Tappe, CNN Business Friday’s jobs report will shed some light on whether August’s disappointing numbers were just a blip — or the start of an unwelcome trend. Either way, the recovery could be bumpy until America gets all the way through the Covid crisis. “The pandemic has always been in the driver’s seat
Continue Reading By Anneken Tappe, CNN Business Friday’s jobs report will shed some light on whether August’s disappointing numbers were just a blip — or the start of an unwelcome trend. Either way, the recovery could be bumpy until America gets all the way through the Covid crisis. “The pandemic has always been in the driver’s seat
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By Laura He, CNN Business Chinese Estates Holdings plans to go private after its stock was slammed by fallout from the crisis at Evergrande. The Hong Kong developer had seen its shares plunge as much as 44% this year to their lowest level in nearly two decades as Evergrande teetered on the edge of collapse.
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By Michelle Toh, CNN Business India’s richest man is bringing 7-Eleven to the country, adding the convenience store chain to a sprawling business empire that spans energy, chemicals, retail and telecommunications. Reliance Retail, the commerce arm of Mukesh Ambani’s conglomerate, announced Thursday that it will open India’s first 7-Eleven stores, just days after the quick-service
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Rupert Murdoch and Roger Ailes launched Fox News 25 years ago Thursday. Is the United States better off? For all the rightful scrutiny of Facebook in recent days, let’s recognize
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Rupert Murdoch and Roger Ailes launched Fox News 25 years ago Thursday. Is the United States better off? For all the rightful scrutiny of Facebook in recent days, let’s recognize
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By Oliver Darcy, CNN Business AT&T executives played a key role in the birth of far-right conspiracy channel One America News (OAN), according to court documents reviewed by CNN. The court documents were first reported by Reuters on Wednesday in an in-depth story detailing how AT&T, which is also the parent company of CNN, “helped
Continue Reading By Oliver Darcy, CNN Business AT&T executives played a key role in the birth of far-right conspiracy channel One America News (OAN), according to court documents reviewed by CNN. The court documents were first reported by Reuters on Wednesday in an in-depth story detailing how AT&T, which is also the parent company of CNN, “helped
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By Pamela Brown, Zachary Cohen, Ryan Nobles, Annie Grayer and Donie O’Sullivan, CNN Business The Facebook whistleblower who released thousands of documents that she says shows the company knows its platforms are used to spread hate, violence and misinformation is expected to meet with the House select committee investigating the January 6 riot at the
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By Sara Ashley O’Brien, CNN Business Former Safeway CEO Steven Burd testified Wednesday during the criminal trial of Elizabeth Holmes about his company’s decision to invest heavily in a partnership with her blood testing startup Theranos that ultimately failed to get off the ground. Burd, who served as CEO of the grocery chain from 1993
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By Sara Ashley O’Brien, CNN Business In the criminal trial of Elizabeth Holmes, one witness has hogged the spotlight so far: former Theranos lab director Adam Rosendorff. Rosendorff, who ran Theranos’ clinical lab during a crucial period for the startup as it launched blood testing to consumers with Walgreens, has occupied the witness stand for
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By Matt Egan Concern is rising on Wall Street over Washington’s debt ceiling game of chicken. Goldman Sachs warned clients on Wednesday that Congress may fail to raise or suspend the debt ceiling prior to the October 18 deadline. “It looks unlikely that Congress will address the debt limit before the last minute, and there
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By Rishi Iyengar, CNN Business Twitch has experienced a major data breach, the game streaming service confirmed on Wednesday. “We can confirm a breach has taken place,” Twitch, which is owned by Amazon, said on Twitter. “Our teams are working with urgency to understand the extent of this.” The company’s statement came after an anonymous
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By Alexis Benveniste, CNN Business Driving and flying are huge contributors to carbon emissions and climate change. So Google is helping users make more informed decisions about how they travel. The company is releasing features on Google Maps and Google Flights to show how travel plans may contribute to climate change. Eco-friendly routes In addition
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By Chris Isidore, CNN Business General Motors’ transition to an all-electric vehicle lineup will help the environment. It will also help make GM a 100% more successful business, the company says. GM announced Wednesday that it forecasts doubling global revenue by the end of the decade and improving its profit margin as it does so.
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By Paul R. La Monica, CNN Business Bitcoin is back, and it has a prominent new supporter. The price of the world’s most valuable cryptocurrency spiked nearly 10% Wednesday morning to around $55,000, following news that the investment firm founded by billionaire George Soros owns bitcoin. Soros, who is famous for making big money on
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By Parija Kavilanz, CNN Business Levi’s says it could take a while before consumers are ready to toss aside a pair of comfy baggy jeans for dressier clothing. “The casualization trends that have been accelerated by the pandemic globally are here to stay, and the denim cycle we started pre-pandemic is continuing to drive growth,”
Continue Reading By Donie O’Sullivan, CNN Hours after Facebook whistleblower Frances Haugen testified before Congress about how the social network poses a danger to children and democracy, Mark Zuckerberg took to the platform he built and posted a 1,300-word screed trying to undermine her. His main argument was that Haugen was taking Facebook’s research on its impact
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By Donie O’Sullivan, CNN Hours after Facebook whistleblower Frances Haugen testified before Congress about how the social network poses a danger to children and democracy, Mark Zuckerberg took to the platform he built and posted a 1,300-word screed trying to undermine her. His main argument was that Haugen was taking Facebook’s research on its impact
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