By Danielle Wiener-Bronner, CNN The combination of extreme weather and a disease impacting citrus fruit is expected to drive down Florida’s orange crop to its lowest level since before World War II, shrinking the state’s already dwindling supply and promising to send orange juice prices even higher. In the 2022-2023 season, Florida is expected to
Continue Reading By Chris Isidore, CNN United Airlines placed a massive order for at least 200 Boeing planes on Tuesday, split between two models dogged by recent problems: the 737 Max and the 787 Dreamliner. It’s a crucial vote of confidence for Boeing, which took tens of billions of dollars in financial losses due to the problems
Continue Reading By Jennifer Korn, CNN Airbnb on Tuesday said it has found a “meaningful difference” in the booking success rate for users who are perceived to be White compared to those who are perceived to be Black. The findings come after the company launched an initiative to uncover and remedy race-based discrimination on its platform. While
Continue Reading By Danielle Wiener-Bronner, CNN Once again, food inflation is outpacing overall inflation. In the year through November, food got 10.6% more expensive, with grocery prices rising 12% and menu prices jumping 8.5%, not adjusted for seasonal swings, the Bureau of Labor Statistics said Tuesday. In that same period, overall inflation rose 7.1%. Food prices are
Continue Reading By Alicia Wallace, CNN Tuesday brought some encouraging news on the stubbornly high prices that have weighed down Americans: Inflation as measured by the Consumer Price Index cooled considerably in November and is at its lowest level in nearly a year. Prices rose 7.1% annually in November, down from 7.7% in October, according to the
Continue Reading By Jordan Valinsky, CNN Business The “other Sears” is in financial turmoil, just like its more famous parent company. Sears Hometown Stores Inc., a franchise-owned unit of Sears, has filed for Chapter 11 bankruptcy protection. Sears spun off Sears Hometown in 2012 to give the parent company a much-needed infusion of cash. Transformco reacquired the
Continue Reading By Nicole Goodkind, CNN The Federal Reserve is expected to respond to persistently high inflation by hiking interest rates half a point on Wednesday. That will mark its seventh and final painful hike of the year, albeit a smaller one than the last four historically high three-quarter point increases. But the main event at December’s
Continue Reading By Matt Egan and Allison Morrow, CNN FTX founder Sam Bankman-Fried was indicted on eight criminal charges including wire fraud and conspiracy by misusing customer funds, according to an indictment from the US Attorney of the Southern District of New York. The 30-year-old Bankman-Fried was arrested at his home in the Bahamas on Monday and
Continue Reading By Chris Isidore, CNN United Airlines placed a massive order for at least 200 Boeing planes on Tuesday, split between two models dogged by recent problems: the 737 Max and the 787 Dreamliner. It’s a crucial vote of confidence for Boeing, which took tens of billions of dollars in financial losses due to the problems
Continue Reading By Kathleen Magramo and Jake Kwon, CNN Do Kwon, a disgraced tycoon behind the collapse of the TerraUSD and Luna coins that roiled the crypto assets market in May, is hiding in Serbia, according to South Korean prosecutors who are seeking to take him into custody. Kwon, a South Korean national, had made his way
Continue Reading By Nicole Goodkind, CNN The Federal Reserve is expected to raise interest rates by half a point at the conclusion of its two-day policy meeting on Wednesday, an indication that the central bank is pulling back on its aggressive stance as signs begin to emerge that inflation may be easing. Although that increase would be
Continue Reading By Peter Valdes-Dapena, CNN The Ford F-150 Lightning was named MotorTrend’s 2023 Truck of the Year on Tuesday, making it the second electric pickup in a row to win that award. MotorTrend’s panel of judges lauded the F-150 Lightning as “the best-riding, best-handling, and best-driving F-150 yet.” Unlike other versions of the F-150, the Lightning
Continue Reading By Kathleen Magramo, CNN Hong Kong on Tuesday announced it would scrap some remaining restrictions on travelers and end contact tracing, after Beijing shifted away from its hardline zero-Covid stance. The city’s health secretary is due to formally announce the removal of curbs on international visitors and the end of requirements to scan a government
Continue Reading By Laura He, CNN China has challenged a move by the United States to block sales of advanced computer chips and chip-making equipment to Chinese companies by launching a trade dispute at the World Trade Organization, calling the measures “trade protectionism.” The country’s commerce ministry filed a formal complaint against the United States with the
Continue Reading By Donie O’Sullivan, CNN Twitter announced late Monday that it was disbanding its “Trust and Safety Council,” according to an email the company sent to the council’s members that was obtained by CNN. The company said in the email that it was “reevaluating how best to bring external insights into our product and policy development
Continue Reading By Clare Duffy, CNN A series of internal Twitter documents shared on the social media platform Monday offer a glimpse into internal debates among some of the company’s employees ahead of its decision to ban then-President Donald Trump following the January 6, 2021 attack on the US Capitol. The documents — shared by journalist Bari
Continue Reading By Clare Duffy, CNN A series of internal Twitter documents shared on the social media platform Monday offer a glimpse into internal debates among some of the company’s employees ahead of its decision to ban then-President Donald Trump following the January 6, 2021 attack on the US Capitol. The documents — shared by journalist Bari
Continue Reading By Allison Morrow, CNN Sam Bankman-Fried, the founder of failed crypto exchange FTX, was arrested in the Bahamas on Monday after US prosecutors filed criminal charges against him, according to a statement from the government of the Bahamas. The Southern District of New York, which is investigating Bankman-Fried and the collapse of FTX and its
Continue Reading By Ramishah Maruf, CNN Millions of angered Taylor Swift fans didn’t receive tickets to the artist’s latest tour after a widely scrutinized debacle over bungled ticket sales. But ticketing giant Ticketmaster announced Monday that a select group of fans might be able to receive tickets after all. The lucky group is among those fans who
Continue Reading By Chris Isidore and Vanessa Yurkevich, CNN Railroad workers could get the paid sick days that were at the heart of their threat to go on strike — if the Biden administration steps in with an executive order. Workers have been unsuccessful getting their demands for paid sick leave met through months of negotiations with
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