By Katharina Krebs and Anna Chernova, CNN Marina Ovsyannikova, a Russian journalist who staged a daring protest live on state-run television, has been declared a fugitive after going on the run, Russian media reported. Ovsyannikova was placed under house arrest in August. She had been charged with disseminating false information about the Russian military after
Continue Reading By Clare Duffy, CNN Business When Parag Agrawal took over as Twitter’s CEO last November following co-founder Jack Dorsey’s surprise resignation from the role, he was little known outside the company. Ten months later, Agrawal has featured prominently in a whistleblower disclosure, been rebuked by name in a Congressional hearing and fielded criticism from the
Continue Reading By Paul R. La Monica, CNN Business Is the worst really over on Wall Street? It’s too soon to say. But stocks rose sharply again Tuesday following Monday’s big rally. The Dow surged 825 points, or 2.8%. The Dow has soared more than 1,500 points in the past two days. It is now back above
Continue Reading By Jordan Valinsky, CNN Business For the “Why didn’t I think of that?” file: A startup that sells water in beer cans — that’s literally it — is approaching a $1 billion valuation. Liquid Death raised a fresh funding round Monday, bringing its valuation to $700 million. Since its launch in 2019, the brand has
Continue Reading By Nicole Goodkind, CNN Business The Federal Reserve’s aggressive tightening policy has led the US dollar to appreciate to multi-decade highs, squashing currencies around the world. Now, a United Nations agency is warning that its actions, along with those of other central banks, risk pushing the global economy into recession. What’s happening: In a new
Continue Reading By Nicole Goodkind, CNN Business The Federal Reserve’s aggressive tightening policy has led the US dollar to appreciate to multi-decade highs, squashing currencies around the world. Now, a United Nations agency is warning that its actions, along with those of other central banks, risk pushing the global economy into recession. What’s happening: In a new
Continue Reading By Catherine Thorbecke, CNN Business Elon Musk drew backlash on Monday from Ukrainian officials, including President Volodymyr Zelensky, for his unsolicited advice on how to bring about “peace” amid Russia’s ongoing invasion of the country. In a Twitter poll, Musk suggested a path to “Ukraine-Russia Peace” that included re-doing elections “under UN supervision” in the
Continue Reading By Parija Kavilanz, CNN Business What staffing shortage? One Miami Chick-fil-A owner/operator has been deluged with applications after switching his staff to a three-day, 14-hour workweek. Justin Lindsey was looking for a novel way to reward workers who were “literally working 70 hours a week, week in and week out,” he recently told QSR magazine.
Continue Reading By Anna Cooban, CNN Business It wasn’t hard for Samantha Losey, managing director of Unity, a public relations firm in London, to convince her team to work fewer hours for the same paycheck. But it was an uphill battle to persuade her own board to join the world’s biggest pilot of the four-day work week.
Continue Reading By Paul R. La Monica, CNN Business Major CEOs aren’t buying the notion that the US economy could have a soft landing following a series of historically large interest rate hikes by the Federal Reserve to fight inflation. According to a survey of 400 leaders of large US companies by consulting firm KPMG, a whopping
Continue Reading By Parija Kavilanz, CNN Business South Korean internet giant Naver is acquiring leading online resale platform Poshmark for $1.2 billion, the companies announced Monday. Under the terms of the deal, Naver is paying $17.90 a share in an all-cash deal. Poshmark shares rose 14% in after-hours trading on the news. Naver, which operates a search
Continue Reading By Matt Egan, CNN Business US Rep. Ro Khanna is calling for the White House to retaliate against Saudi Arabia if OPEC and its allies slash oil production in a bid to boost prices. “This is beyond the pale,” the California Democrat told CNN in a phone interview on Monday. “They are actively fleecing the
Continue Reading By Catherine Thorbecke, CNN Business Elon Musk drew backlash on Monday from Ukrainian officials, including President Volodymyr Zelensky, for his unsolicited advice on how to bring about “peace” amid Russia’s ongoing invasion of the country. In a Twitter poll, Musk suggested a path to “Ukraine-Russia Peace” that included re-doing elections “under UN supervision” in the
Continue Reading By Parija Kavilanz, CNN Business Tupperware containers will now be available at Target, in a major shift for the 76-year-old brand. Generally the company has sold its plastic food storage containers solely through in-home “Tupperware parties” or its own website — save a few brief and limited pilot programs with retailers HomeGoods, Bed Bath and
Continue Reading By Alicia Wallace, CNN Business The devastation wrought by Hurricane Ian likely caused more than $50 billion in damages — and also dinged overall US economic output, economists say. Initial damages from the deadly storm are estimated to be in the range of $45 billion to $55 billion in Florida and at least several billion
Continue Reading By Alicia Wallace, CNN Business The devastation wrought by Hurricane Ian likely caused more than $50 billion in damages — and also dinged overall US economic output, economists say. Initial damages from the deadly storm are estimated to be in the range of $45 billion to $55 billion in Florida and at least several billion
Continue Reading By Rachel Metz, CNN Business Elizabeth Holmes, the founder of failed blood testing startup Theranos who was convicted of fraud earlier this year, may not be sentenced until next year after the judge in the case decided to allow a hearing later this month to address defense concerns about a key witness’s testimony. During a
Continue Reading By Chris Isidore, CNN Business Could Wall Street’s love affair with Elon Musk be over? Six months ago Tesla shares were flying high. The company was valued at $1.1 trillion — more than a dozen other top automakers combined — and announcing plans for a proposed stock split. Then Musk disclosed he had become the
Continue Reading By Parija Kavilanz, CNN Business In the spirit of holiday cheer, here’s the good news first: Christmas tree farms say this year’s harvest looks good and they don’t expect shortages. But here’s the reality check. Expect to pay more for that perfect fir, pine or spruce compared to last year. As with so many products
Continue Reading By Parija Kavilanz, CNN Business In the spirit of holiday cheer, here’s the good news first: Christmas tree farms say this year’s harvest looks good and they don’t expect shortages. But here’s the reality check. Expect to pay more for that perfect fir, pine or spruce compared to last year. As with so many products
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