By Danielle Wiener-Bronner and Matt Egan, CNN Business The White House on Monday offered a solution to surging meat prices: an action plan that includes investing $1 billion of American Rescue Plan funds to boost competition in the industry and promises to ramp up regulation and enforcement of anticompetition laws. But some experts say the
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By Laura He, CNN Business Walmart has been swept up in controversy in China after one of its retailers was accused of removing products sourced from Xinjiang. It’s more evidence of how difficult it has become for Western businesses to navigate international politics in China. The firestorm began late last month when people on Chinese
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By Laura He, CNN Business Troubled Chinese real estate developer Evergrande is trying to reassure investors about the impact of an official order to demolish a few dozen buildings in China. Chinese media reported over the weekend that authorities in Hainan province — a tropical resort island off the coast of southern China — had
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By Brian Stelter and Donie O’Sullivan, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. In an earlier era, journalists might have made certain assumptions about the aftermath of a violent attack on the Capitol. They might have expected unanimous condemnation and
Continue Reading By Brian Stelter and Donie O’Sullivan, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. In an earlier era, journalists might have made certain assumptions about the aftermath of a violent attack on the Capitol. They might have expected unanimous condemnation and
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By Peter Valdes-Dapena, CNN Business Tesla has opened a new showroom in Xinjiang, a region in western China that is purported to be the site of abuse and brutal repression of the country’s Uyghurs, a predominantly Muslim ethnic minority. The region has become a major geopolitical hotspot in recent years, and a key source of
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By Brian Fung, CNN AT&T and Verizon have agreed to postpone their planned rollouts of 5G infrastructure near airports by two weeks, averting — for now — feared widespread disruptions to air travel and shipping as well as a potential legal battle over the matter. Both carriers confirmed late Monday evening that they will hold
Continue Reading By Brian Fung, CNN AT&T and Verizon have agreed to postpone their planned rollouts of 5G infrastructure near airports by two weeks, averting — for now — feared widespread disruptions to air travel and shipping as well as a potential legal battle over the matter. Both carriers confirmed late Monday evening that they will hold
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By Rishi Iyengar, CNN Business After nearly four months of court proceedings in one of the most high-profile tech trials in recent memory, Elizabeth Holmes has been found guilty on four out of 11 federal fraud and conspiracy charges. Holmes, the former CEO and founder of failed blood testing startup Theranos, was found guilty on
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By Rhea Mogul and Esha Mitra, CNN The throngs of worshipers were mid-prayer when a man emerged from the crowd and jumped over the barrier, entering into the sanctum of Sikhism’s holiest shrine. He would not leave the Golden Temple alive. Within touching distance of Sikhism’s holy book, the man grabbed a bejeweled ceremonial sword
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By Sara Ashley O’Brien, CNN Business Elizabeth Holmes, the former CEO and founder of failed blood testing startup Theranos, was found guilty on four charges of defrauding investors, capping off the stunning downfall of a former tech icon. She was found not guilty on three additional charges concerning defrauding patients and one charge of conspiracy
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By Sara Ashley O’Brien, CNN Business Editor’s Note: The jury has now returned a verdict in the trial of Elizabeth Holmes. Read the full story here. The jury tasked with determining the fate of Elizabeth Holmes, the former CEO and founder of failed blood testing startup Theranos in her criminal trial, said that it remains
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By Paul R. La Monica, CNN Business Wall Street is having a topsy-turvy moment. Long-term Treasury yields have shot up dramatically, and investors in stocks are cheering the bond market’s big moves. That doesn’t happen often. So what gives? Rising rates are supposed to be a bad sign for stocks. In theory, higher yields for
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By Julia Horowitz, CNN Business The first trading day of the year featured a major milestone for Corporate America and financial markets. What’s happening: On Monday, Apple became the first public company to reach a market value of $3 trillion when its shares briefly hit an all-time high. For comparison, the entire UK economy is
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By Donie O’Sullivan, CNN Facebook has blocked Rep. Marjorie Taylor Greene from posting on its platform for 24 hours, the Georgia Republican said Monday. The congresswoman reacted to the temporary Facebook ban through her Telegram account, writing, “Facebook has joined Twitter in censoring me.” A spokesperson for Meta, Facebook’s parent company, said Facebook removed one
Continue Reading By Donie O’Sullivan, CNN Facebook has blocked Rep. Marjorie Taylor Greene from posting on its platform for 24 hours, the Georgia Republican said Monday. The congresswoman reacted to the temporary Facebook ban through her Telegram account, writing, “Facebook has joined Twitter in censoring me.” A spokesperson for Meta, Facebook’s parent company, said Facebook removed one
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By Anneken Tappe, CNN Business Start the year how you intend to spend it, right? For the Dow, that means at all-time highs. The index finished up 0.7%, or nearly 250 points, on Monday, logging a new record high on the first trading day of 2022. Similarly, the S&P 500, the broadest measure of Wall
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By Chris Isidore, CNN Business Toyota is about to become the leader in US auto sales for the first time, taking away a title that General Motors has held for nearly a century. It’s yet another sign that US automakers have lost their dominance in their home market. As recently as 2005, Toyota was No.
Continue Reading By Sara Ashley O’Brien, CNN Business Editor’s Note: The jury has now returned a verdict in the trial of Elizabeth Holmes. Read the full story here. The jury tasked with determining the fate of Elizabeth Holmes, the former CEO and founder of failed blood testing startup Theranos in her criminal trial, said that it remains
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By Peter Valdes-Dapena, CNN Business Mercedes has unveiled a new all-electric concept car, the EQXX, that the company claims can go 620 miles on a single charge. The futuristic luxury car is also made with a host of innovative recycled and sustainable materials including mushroom fibers, ground up cacti and trash such as food scraps.
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