By Teele Rebane, CNN Business Intel has apologized in China following a backlash over a directive to suppliers not to source products or labor from the Xinjiang region. The US chipmaker told suppliers in a letter dated December 2021 that it “is required to ensure our supply chain does not use any labor or source
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By Laura He, CNN Business Tencent is dramatically cutting its stake in JD.com, China’s second largest e-commerce company, as it seeks to stay on the right side of Beijing, which has been cracking down on tech giants to rein in their growing power and influence. Tencent plans to distribute more than $16 billion worth of
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By Diksha Madhok, CNN Business India’s stock market celebrated an extraordinary year as some of the country’s buzziest tech firms made their public debuts. And while one high-profile blunder cast a chill over the festivities, that’s probably not enough to stop the excitement in 2022. By December, more than $15 billion had been raised in
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By Paul R. La Monica, CNN Business The year’s last day of trading is shaping up to be a quiet one. Stocks were down just slightly Friday morning. But 2021 was still a banner year for Wall Street. The Dow fell about 65 points in late morning trading Friday, or 0.2%. It is up 19%
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By Anna Bahney, CNN Business Home sales in November were up from the prior month as buyers rushed to take advantage of low interest rates, keeping 2021 on track for the strongest year since 2006. Prices continued double digit annual jumps as inventory remained at historic lows. The affordability challenge of buying a home pushed
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By Paul R. La Monica, CNN Business Despite the Omicron variant of Covid-19, some travel restrictions and event cancellations, it seems many Americans are still getting ready to go away for the holidays — and planning much-needed vacations for 2022. That’s been great news for the beleaguered travel sector. Shares of cruise line operators Carnival
Continue Reading By Paul R. La Monica, CNN Business Despite the Omicron variant of Covid-19, some travel restrictions and event cancellations, it seems many Americans are still getting ready to go away for the holidays — and planning much-needed vacations for 2022. That’s been great news for the beleaguered travel sector. Shares of cruise line operators Carnival
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By Clare Duffy, CNN Business One of the most closely-watched annual tech conferences, CES, is going ahead with plans to hold an in-person event in two weeks, even as a growing number of prominent technology companies are pulling the plug on their plans to attend in person amid a surge in Covid-19 cases. Amazon, Meta,
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By Brian Fung, CNN Business From mask requirements to waived change fees, the pandemic has dramatically changed what it’s like to fly. But beginning early next year, even more changes could be coming to air travel — ones that have nothing to do with the coronavirus. These changes could lead to flight delays or diversions
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By Richard Davis, CNN Business In a series of tweets late Tuesday, Bill Gates says he plans to cancel most of his holiday plans and warned that that the United States “could be entering the worst part of the pandemic.” Asserting that the Omicron variant is spreading faster than any virus in history, the billionaire
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By Anneken Tappe, CNN Business Americans are feeling more optimistic about the recovery, which has continued to go strong into the final month of the year. And this is good news for the New Year as well. A measure of consumer confidence has risen to 115.8 points in December, more than economists had predicted and
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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
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CNN Business Staff Supply shortages are everywhere. New smartphones have been hit by shipping delays and video game consoles are almost impossible to find. But as we do each year, the staff at CNN Business is reflecting on the tech, services and apps that made a big impact on our everyday lives in 2021 —
Continue Reading CNN Business Staff Supply shortages are everywhere. New smartphones have been hit by shipping delays and video game consoles are almost impossible to find. But as we do each year, the staff at CNN Business is reflecting on the tech, services and apps that made a big impact on our everyday lives in 2021 —
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By Walé Azeez, CNN Business OnlyFans is getting a new CEO after a tumultuous year. Tim Stokely, the founder of OnlyFans, announced on Monday that he is stepping down as CEO of the video subscription company. In an Instagram post, Stokely said he is “moving on to new challenges” after five years at the helm
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By Jordan Valinsky, CNN Business Taco Bell is adding a new menu item that fans might not associate with the taco chain — and it’s only available for a week. The fast food restaurant is adding crispy chicken wings beginning January 6 for a limited time at its US locations. Taco Bell said each order
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By Chris Isidore, CNN Business Get ready for booster mandates. Millions of US workers are already required to show proof of a Covid vaccine to their employer. Soon many could be forced to show proof that they also got a booster shot. With the rise of the Omicron variant of Covid-19, public health officials are
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By Oliver Darcy, CNN Business Dr. Anthony Fauci on Tuesday said that Fox News host Jesse Watters should be fired for using violent language at a conservative conference to encourage attendees to conduct an ambush interview with him in hopes of creating a viral moment. “I mean, that’s crazy,” Fauci added. “The guy should be
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By Anna Cooban, CNN Business Lissette Monzon still feels a little guilty about a “crazy” purchase she made three years ago. Monzon, 54, a high school English teacher in Florida, bought a $700 pair of Valentino boots in October 2018. Actress Blake Lively had been photographed wearing the mauve-colored footwear in Paris. Monzon saw the
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By Laura He, CNN Business The World Bank has cut its forecasts for China’s economic growth this year and next, as the world’s second largest economy faces mounting headwinds from the new Omicron variant to a severe property sector downturn. The bank now expects China’s GDP to expand 8% in 2021 compared with a year
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