By Frank Pallotta, CNN Business Dan Loeb is fine with Disney keeping ESPN after all. The activist investor and Third Point CEO, who made headlines last month when he proposed that the media giant spin off ESPN, had a change of heart over the weekend. “We have a better understanding of ESPN’s potential as a
Continue Reading By Clare Duffy and Brian Fung, CNN Twitter whistleblower Peiter “Mudge” Zatko is set to testify before Congress Tuesday in his first public appearance since his bombshell allegations against the social media company were reported last month by CNN and The Washington Post. Lawmakers on the Senate Judiciary Committee are expected to question Zatko on
Continue Reading By Rishi Iyengar, CNN Business Elon Musk may be fighting tooth-and-nail to get out of his deal to buy Twitter, but the social media company’s shareholders plan to hold him to it. The vast majority of Twitter shareholders on Tuesday voted in favor of Musk’s $44 billion takeover deal, a value of $54.20 per share.
Continue Reading By Clare Duffy, CNN Business Twitter on Monday pushed back at a new attempt by Elon Musk to walk away from their $44 billion acquisition deal over a payment the company is said to have made to a former employee who later turned whistleblower, calling the billionaire’s move “invalid and wrongful.” Musk on Friday sent
Continue Reading By Chris Isidore and Adrienne Broaddus, CNN Business About 15,000 nurses in Minnesota went on strike Monday morning, saying they are fighting for better staffing and better care for their patients. The strike is against 13 hospitals in the Minneapolis-St. Paul market, as well as Duluth. It is scheduled to last only three days, and
Continue Reading By Paul R. La Monica, CNN Business Few investments have increased in value during this challenging year on Wall Street. But one asset that is in green in 2022 is literally green: the US dollar. The greenback has soared this year thanks to the Federal Reserve jacking up interest rates to fight inflation and hopes
Continue Reading By Catherine Thorbecke, CNN Business A Blue Origin rocket experienced a “booster failure” during an uncrewed launch of its New Shepard rocket from West Texas on Monday morning, triggering an abort system that allowed the capsule to parachute to Earth. “This was a payload mission with no astronauts on board. The capsule escape system functioned
Continue Reading By Alicia Wallace, CNN Business Americans are expecting inflation to fall sharply in both the short and long run, according to new data from the Federal Reserve Bank of New York. In August, the median expectations for one- and three-year inflation dropped to 5.7% and 2.8%, respectively, down from 6.2% and 3.2% in July, according
Continue Reading Opinion by Karen S. Lynch for CNN Business Perspectives Even though mental health challenges aren’t anything new, we are living in a time with a series of unique stressors that are impacting every one of us, such as Russia’s invasion of Ukraine, as well as a pandemic that has stretched two-and-a-half years and continually reminds
Continue Reading By Julia Horowitz, CNN Business In the past week, Ukrainian troops have dealt a huge blow to Russia’s grip on parts of the east of their country with a fast-moving offensive. The stunning campaign has kicked off a new phase of the war and could force Vladimir Putin to reconsider his strategy and objectives. What’s
Continue Reading By Julia Horowitz, CNN Business In the past week, Ukrainian troops have dealt a huge blow to Russia’s grip on parts of the east of their country with a fast-moving offensive. The stunning campaign has kicked off a new phase of the war and could force Vladimir Putin to reconsider his strategy and objectives. What’s
Continue Reading By Laura He, CNN Business Authorities in Shanghai have denied a report by a leading Chinese real estate research firm that claimed more than a third of shops in a major mall had been shuttered because of strict Covid curbs. The report by China Real Estate Information Corp. (CRIC), published late last month, quickly went
Continue Reading By Artemis Moshtaghian, CNN Columbia University said that it relied on “outdated and/or incorrect methodologies” in submitting data to U.S. News & World Report for consideration in the publication’s 2021 college rankings, according to a statement released by the university Friday. “The Columbia undergraduate experience is and always has been centered around small classes taught
Continue Reading By Ramishah Maruf, CNN US credit card giants said they will implement a new merchant category code for the nation’s gun retailers, which gun control activists say will help flag potential mass shooters and gun traffickers. The International Organization for Standardization, based in Geneva, approved the code on Friday. The system will separately categorize sales
Continue Reading By Chris Isidore, CNN Business It’s not just about the money. There has been a surge in union activism — including strikes and organizing efforts — in the last year that is being driven by factors far beyond pay rates and benefits packages. If pay was the only issue, the nation probably wouldn’t be facing
Continue Reading By Zoe Sottile, CNN Holding onto an ex’s stuff may prove profitable later on, at least if your ex turns out to be the wealthiest man in the world. The former girlfriend of tech entrepreneur Elon Musk is auctioning off a cache of photos and Musk memorabilia from her relationship with the billionaire. Jennifer Gwynne,
Continue Reading By Paul R. La Monica, CNN Business Is inflation really peaking? Are consumers growing more confident? We’ll get those answers this week when the latest consumer and producer price indexes as well as retail sales figures for August all come out. The numbers could change the calculus for the Federal Reserve, which is guaranteed to
Continue Reading By Catherine Thorbecke, CNN Business The unveiling of the latest iPhone 14 lineup earlier this week has already spurred a flurry of new promotions from wireless giants including AT&T, T-Mobile and Verizon. All three of the major US carriers have announced deals that allow qualifying customers to get the latest Apple smartphone for free, under
Continue Reading By Peter Taggart and Ramishah Maruf, CNN Aer Lingus canceled all flights scheduled to depart from its Dublin Airport hub that were bound for European countries and the United Kingdom because of a computer malfunction. The carrier said the outage affected 51 flights. “A UK network provider servicing the cloud-based system has experienced a major
Continue Reading Reuters An international standards body has approved creation of a merchant code for gun retailers, a representative said on Friday, following pressure from activists who say it will help track suspicious weapons purchases. At a meeting this week, a subcommittee of the International Organization for Standardization approved what is known as a “merchant category code”
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