By Matt Egan, CNN Business Facing a mounting supply chain crisis, the White House is exploring whether to deploy the National Guard to ease bottlenecks, though that option is viewed as unlikely, a person familiar with the matter told CNN. Business groups have urged the Biden administration to consider out-of-the-box ideas to address the supply
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By Julia Horowitz, CNN Business Procter & Gamble, the consumer goods giant that makes Pampers diapers, Crest toothpaste and Tide detergent, says that running its business is far from simple right now. “Supply chains are under pressure from tight labor markets, tight transportation markets and overall capacity constraints,” Chief Financial Officer Andre Schulten told analysts
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By Jordan Valinsky, CNN Business Netflix co-CEO Ted Sarandos has some regrets about how he handled Dave Chappelle’s stand-up special, even though he still stands by Netflix’s decision to stream the controversial act. In an interview with Variety late Tuesday, Sarandos admitted that he “screwed up” the internal communication with Netflix’s staff. He said he
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By Charles Riley, CNN Business Facebook is planning to rebrand itself with a new name focused on the metaverse, the Verge reported on Tuesday, as the tech giant comes under fire from regulators around the world over its business practices. The company plans to announce the new name next week, the Verge reported, citing a
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By Charles Riley, CNN Business Facebook is planning to rebrand itself with a new name focused on the metaverse, the Verge reported on Tuesday, as the tech giant comes under fire from regulators around the world over its business practices. The company plans to announce the new name next week, the Verge reported, citing a
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Philip Wang, CNN Business The Chinese government has ordered the country’s coal mines to “produce as much coal as possible” as it tries to increase production as winter approaches, and ease an ongoing energy crunch. The announcement from China’s National Development and Reform Commission comes after weeks of power shortages across many provinces, forcing the
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By Jessie Yeung and Esha Mitra, CNN Record-breaking rains and heavy flooding have killed at least 150 people in India and Nepal over the past few days, according to disaster management officials. According to Nepal’s Home Ministry, 77 people died this week from floods and landslides, after heavy rainfall that began on Monday. Some 22
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By Laura He, CNN Business China’s growth is seriously slowing down as the country lurches from one economic threat to another. And while some of the biggest pain points appear to be easing, an unfolding crisis in real estate is emerging as one of Beijing’s toughest challenges in the coming year. The country’s GDP grew
Continue Reading By Rachel Ramirez, CNN Business Ahead of a critical global climate conference in November, a UN report released Wednesday shows that many of the world’s largest fossil fuel producers are still planning to ramp up production in the coming years, and will be burning far more fossil fuels in 2030 than what is consistent with
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By Rachel Ramirez, CNN Business Ahead of a critical global climate conference in November, a UN report released Wednesday shows that many of the world’s largest fossil fuel producers are still planning to ramp up production in the coming years, and will be burning far more fossil fuels in 2030 than what is consistent with
Continue Reading By Rachel Ramirez, CNN Business Ahead of a critical global climate conference in November, a UN report released Wednesday shows that many of the world’s largest fossil fuel producers are still planning to ramp up production in the coming years, and will be burning far more fossil fuels in 2030 than what is consistent with
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By Vanessa Yurkevich, CNN The trucking industry is short 80,000 drivers, a record high, Chris Spear, President and CEO of the American Trucking Associations, tells CNN. That’s a 30% increase from before the pandemic, when the industry already faced a labor shortage of 61,500 drivers. “That’s a pretty big spike,” Spear added. Many drivers are
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By Brian Stelter, CNN Business Fox News anchor Neil Cavuto has tested positive for Covid-19. Cavuto, who has been public about his health challenges over the years, including a nearly 25-year journey with multiple sclerosis, was off his afternoon Fox program on Tuesday as a result of the diagnosis. “While I’m somewhat stunned by this
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By Jackie Wattles, CNN Business Boeing’s long-awaited spacecraft, called Starliner, is still facing a long road ahead before it’ll be ready to fly astronauts, the company said on Tuesday. It is still working to address an issue with the vehicle’s propulsion system that was discovered just hours before it was slated to launch a crucial
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By Kristin Fisher and Jackie Wattles, CNN Mark “Forger” Stucky, who for six years headed the test pilot program at space company Virgin Galactic before he says he was fired earlier this year, is taking a job with the company’s chief competitor, Blue Origin. Stucky said he will join Blue Origin’s “Advanced Development Programs” team,
Continue Reading By Frank Pallotta, CNN Business Netflix now has 213.5 million subscribers globally, having added 4.4 million subscribers in the third quarter of 2021, the company reported on Tuesday. That number beat the streaming service’s own expectations as well as those of analysts. The company also forecast that it would have 222 million subscribers for the
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By Jordan Valinsky, CNN Business Katie Couric says she has “no relationship” with Matt Lauer, her former ‘Today’ co-anchor who was fired in 2017 for inappropriate sexual behavior. She spoke out on her former show Tuesday to promote the release of her new memoir, “Going There.” In an interview with current ‘Today’ host Savannah Guthrie,
Continue Reading By Vanessa Yurkevich, CNN The trucking industry is short 80,000 drivers, a record high, Chris Spear, President and CEO of the American Trucking Associations, tells CNN. That’s a 30% increase from before the pandemic, when the industry already faced a labor shortage of 61,500 drivers. “That’s a pretty big spike,” Spear added. Many drivers are
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By Paul R. La Monica, CNN Business Forget about The Grinch: It looks like supply chain disruptions may steal Christmas this year. But will these problems be resolved by early 2022? Several retailers, manufacturers and economists have all warned that global supply chain constraints will lead to not only fewer discounts during the holidays but
Continue Reading By Paul R. La Monica, CNN Business Forget about The Grinch: It looks like supply chain disruptions may steal Christmas this year. But will these problems be resolved by early 2022? Several retailers, manufacturers and economists have all warned that global supply chain constraints will lead to not only fewer discounts during the holidays but
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