By Charles Riley, CNN Business The outlook for the American economy is suddenly much darker. Investors around the world sold stocks and oil prices dropped sharply on Monday as Omicron cases surged and governments imposed anti-virus measures that could hamper economic growth. But the US faces a second potential blow after Sen. Joe Manchin, a
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By Mark Thompson, CNN Business Investors hoping for an easy Christmas week could be sorely disappointed as stocks and oil prices slid in the face of growing threats to the global economy. In the US the Dow fell more than 430 points, or 1.2%, on Monday. The S&P 500 was down 1.1% while the tech-heavy
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By Laura He, CNN Business China’s central bank cut its main interest rate for the first time in 20 months, as authorities step up efforts to boost an economy that has been hit by pandemic-related curbs, a real estate slump and an unprecedented crackdown on private enterprises. The People’s Bank of China on Monday lowered
Continue Reading By Mark Thompson, CNN Business Investors hoping for an easy Christmas week could be sorely disappointed as stocks and oil prices slid in the face of growing threats to the global economy. In the US the Dow fell more than 430 points, or 1.2%, on Monday. The S&P 500 was down 1.1% while the tech-heavy
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By Laura He, CNN Business Chinese artificial intelligence giant SenseTime has revived its $767 million initial public offering, just days after it had delayed its public debut after being hit by another US blacklist. SenseTime relaunched the offering Monday, with its first day of trading set for Dec. 30, according to its revised filings to
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. People in major cities waited in long lines for Covid tests over the weekend… but millions also queued up to watch “Spider-Man” in crowded theaters. On Sunday New York state
Continue Reading By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. People in major cities waited in long lines for Covid tests over the weekend… but millions also queued up to watch “Spider-Man” in crowded theaters. On Sunday New York state
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By Matt Egan, CNN Senator Joe Manchin’s opposition to the Build Back Better Act prompted Goldman Sachs to swiftly dim its US economic outlook. The Wall Street firm told clients Sunday it no longer assumes President Joe Biden’s signature legislation will get through the narrowly divided Congress, citing the West Virginia Democrat’s announcement that he’s
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COLUMBIA, MO (KMIZ) Foot traffic in Downtown Columbia has picked up surrounding graduation ceremonies and hotels and restaurants in the area say they’re seeing an uptick in business. The University of Missouri, Columbia College and Stephens College all have graduation ceremonies this weekend and they are being held in-person, which is having a big impact
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By Frank Pallotta, CNN Business Theaters needed a hero, and Spider-Man swung in just in time. “Spider-Man: No Way Home” — the latest movie in the Marvel series — notched a record breaking opening weekend at the domestic box office by bringing in an estimated $253 million, according to its studio, Sony. That is the
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By Sara Ashley O’Brien, CNN Business Elizabeth Holmes’ fate is now in the hands of a jury of eight men and four women. The jury is set to deliberate on Monday and is tasked with determining whether the onetime billionaire who claimed to have revolutionized blood testing knowingly misled investors, doctors, and patients about her
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By Chris Isidore, CNN Business Southwest Airlines CEO Gary Kelly stirred up some controversy Wednesday when he suggested that wearing masks on planes did little to prevent the spread of Covid. “I think the case is very strong that masks don’t add much if anything in the air cabin environment,” he said in response to
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By Allison Morrow, CNN Business Nearly a year ago, a bunch of day traders from the fringes of the internet figured out how to beat Wall Street at its own game. Or so they thought. Around mid-January, shares of GameStop — a brick-and-mortar retailer that most analysts expected to go the way of Blockbuster —
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By Frank Pallotta, CNN Business “Saturday Night Live” wasn’t exactly live from New York on Saturday night. The NBC variety show opened with Tom Hanks greeting a nearly empty studio since the show went without a live audience because of the recent rise in Covid-19 cases. “Tonight everyone at ‘Saturday Night Live’ planned to do
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By Julia Horowitz, Salma Abdelaziz and Li-Lian Ahlskog Hou, CNN Growing up in Finland, Iida Ruishalme had a deep affinity for nature — particularly the forest, where she loved to go trekking with her dogs. Now, she’s worried that her daughters won’t experience such idyllic days as the climate crisis accelerates. So last month, she
Continue Reading By Julia Horowitz, Salma Abdelaziz and Li-Lian Ahlskog Hou, CNN Growing up in Finland, Iida Ruishalme had a deep affinity for nature — particularly the forest, where she loved to go trekking with her dogs. Now, she’s worried that her daughters won’t experience such idyllic days as the climate crisis accelerates. So last month, she
Continue Reading By Frank Pallotta, CNN Business “Saturday Night Live” wasn’t exactly live from New York on Saturday night. The NBC variety show opened with Tom Hanks greeting a nearly empty studio since the show went without a live audience because of the recent rise in Covid-19 cases. “Tonight everyone at ‘Saturday Night Live’ planned to do
Continue Reading By Frank Pallotta, CNN Business The show went on for “Saturday Night Live” Saturday, but without its usual studio audience and its musical guest. The NBC variety show said late Saturday afternoon it would not have a live audience in the studio because of the recent rise in Covid-19 cases. “Due to the recent spike
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By Ramishah Maruf, CNN Business After failing to reach a deal with Disney, YouTube TV will not be able to distribute Disney-owned channels such as ESPN and ABC on its platform, and has dropped the monthly subscription price to its platform by $15, to $49.99. Negotiations between the two companies have been going on for
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By Frank Pallotta, CNN Business Look out, box office records. Here comes Spider-Man. “Spider-Man: No Way Home,” the latest movie in the Marvel series, notched a massive opening day at the domestic box office Friday by bringing in $121.5 million, according to its studio, Sony. That is the second highest opening day in box office
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