By Allison Morrow, CNN Business It seems the Elon Musk mystique — whatever combination of wealth, carefully cultivated charm and A-plus lawyers that have helped him emerge unscathed from countless scandals — is starting to unravel. Here’s the deal: Federal regulators just announced that Musk’s private space tourism company, SpaceX, will no longer receive nearly
Continue Reading By Jackie Wattles, CNN Business In a high-stakes decision, federal regulators announced Wednesday that SpaceX will not receive nearly $900 million in subsidies that the company was awarded in December, citing the fact that its satellite-based service is “still developing technology” and the company “failed to demonstrate that [it] could deliver the promised service.” The
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors is selling three years of OnStar service as a $1,500 “option” on all Buick and GMC vehicles, as well as on Cadillac Escalade SUVs. But this is an option you can’t refuse. A three-year OnStar subscription is now simply standard equipment on all these models, GM spokesman Patrick
Continue Reading By Frank Pallotta, CNN Business Disney+ just got more expensive. Unless you’re willing to watch ads. The Disney+ new ad-supported subscription tier will debut in the US on December 8 at a cost of $7.99 a month, the company announced on Wednesday. If that price point looks familiar, it should. That’s what consumers are paying
Continue Reading By Danielle Wiener-Bronner, CNN Business Inflation may be slowing overall, but food prices are still sky-high. Over the last 12 months, grocery prices soared 13.1% — the largest annual increase since the year ending in March 1979, the Bureau of Labor Statistics said Wednesday. The prices of nearly every grocery item have ballooned over the
Continue Reading By Sara O’Brien and Clare Duffy, CNN Business A Nebraska mother and her 18-year-old daughter are facing multiple charges in a case that involved police obtaining Facebook messages between the two that authorities allege show evidence of an illegal self-managed medication abortion, as well as a plan to hide the remains. Norfolk police began investigating
Continue Reading By Sara O’Brien and Clare Duffy, CNN Business A Nebraska mother and her 18-year-old daughter are facing multiple charges in a case that involved police obtaining Facebook messages between the two that authorities allege show evidence of an illegal self-managed medication abortion, as well as a plan to hide the remains. Norfolk police began investigating
Continue Reading By Jennifer Korn, CNN Business A staggering $1.9 billion worth of cryptocurrency was stolen in hacks of various services in the first seven months of this year, marking a 60% increase from the same period in the year prior, according to a report released Tuesday from blockchain analysis firm Chainalysis. The surge comes even as
Continue Reading By Brian Fung, CNN More than a dozen companies in the cybersecurity space are developing a single, open standard for sharing data about hacking threats, a project the companies say could help organizations detect cyberattacks more quickly. The initiative, which involves Amazon, Cloudflare, CrowdStrike, IBM, Okta and Salesforce, among others, aims to solve a critical
Continue Reading By Oliver Darcy, CNN Business Media critic Margaret Sullivan is retiring her acclaimed column and leaving The Washington Post this month. “Working at the legendary Washington Post has been one of the greatest privileges of my life,” Sullivan said in a memo sent to her colleagues at The Post. “I’m so grateful to my editors
Continue Reading By Parija Kavilanz, CNN Business Kohl’s can’t seem to catch a break, and it may have only itself to blame. The department store chain on Thursday presented a dour outlook for 2022, saying it expects full-year sales to fall 5% to 6% compared to a year ago and blaming high inflation for preventing shoppers —
Continue Reading Martha C. White for CNN Business Runaway inflation took a breather in July, with consumer prices increasing by 8.5% year over year, a slower pace than the 9.1% increase in June, the Bureau of Labor Statistics reported Wednesday. On a month-to-month basis, inflation was 0%, compared to the 1.3% increase in June. Prices began rising
Continue Reading Opinion by Mike Litt for CNN Business Perspectives America’s credit reporting system is broken. We saw the latest evidence of this last week, when news broke that Equifax sent lenders millions of incorrect credit scores, some of which were off by at least 25 points, for consumers applying for auto loans, mortgages and credit cards.
Continue Reading By Danielle Wiener-Bronner, CNN Business Coca-Cola’s latest experimental, limited-time flavor is here. It’s called … wait for it … Dreamworld. And it tastes like … dreams? “We wanted to create a dream-inspired drink that was recognizably Coca-Cola but with additional cues that bring to life the playfulness and brightness of dreams,” a company spokesperson said
Continue Reading By Parija Kavilanz, CNN Business Trendy eyewear brand Warby Parker is the latest in a string of retailers struggling to stay the course as a wobbly economy forces households to pare back and rethink their discretionary buying. Warby Parker, which pioneered the direct-to-consumer model for stylish eyewear under $100, announced job cuts to its staff
Continue Reading By Paul R. La Monica, CNN Business Is the crypto winter finally over? (And in the scorching heat of summer no less?) Bitcoin prices have stabilized around the $23,000 to $24,000 level after plunging below $20,000 in June. The prices of ethereum and other leading digital currencies have also rallied in the past two months,
Continue Reading By Laura He, CNN Business US gaming software developer Unity is partnering with some of the biggest names in China tech to establish a billion-dollar joint venture aimed at growing its business in the world’s largest market for online games. The venture will “unlock new opportunities” to enhance cooperation with local companies and increase its
Continue Reading By Chris Isidore, CNN Business Tesla CEO Elon Musk sold 7.9 million shares of Tesla in recent days, raising $6.9 billion with the sales. The sales from Friday through Tuesday were disclosed in a series of filings with the Securities and Exchange Commission late Tuesday night. They mark the first sale of Tesla shares by
Continue Reading By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Fox News largely refrains from criticizing Donald Trump. But, in private, Lachlan Murdoch has denounced some of the former President’s behavior in harsh terms. In private this year, the Fox
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The Boone County Sheriff’s Office is warning about the latest phone scam where scammers are posing as a deputy and attempting to steal the victim’s money.
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