By Julia Horowitz, CNN Business Wall Street is convinced it’s discovered the future of Silicon Valley. But early bets on the “metaverse” are running into some turbulence. What’s the metaverse? It’s a virtual world in which people hang out, attend meetings and play games as avatars. It’s generating tons of buzz. But shares of video
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By Jordan Valinsky, CNN Business Here’s more proof that the house always wins: In 2021, America’s gaming industry had its highest-grossing year ever. Again. The industry rolled in $53 billion in revenue last year — breaking the previous industry record by more than 20% registered in 2019, according to the American Gaming Association. Last year’s
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By Matt Egan, CNN Business Russia’s invasion of Ukraine is happening thousands of miles away from the closest major US city. And yet millions of American families will feel the economic consequences. That’s because the world economy and financial markets are interconnected. As Covid demonstrated, events on one side of the planet can set off
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By Matt Egan, CNN Business The Russia-Ukraine crisis is taking place thousands of miles away from the closest major US city. And yet millions of American families would feel the economic consequences of a full-blown conflict. That’s because the world economy and financial markets are interconnected. As Covid demonstrated, events on one side of the
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By Swati Gupta and Rhea Mogul, CNN Indian actor and activist Deep Sidhu, who backed the country’s year-long farmer’s movement, died in a car crash Tuesday, according to police officials. He was 37. Sidhu’s car crashed into the rear end of a truck in the northern state of Haryana, senior official of Sonipat Police, Virender
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By CNN’s Beijing bureau and Michelle Toh, CNN Business Starbucks is facing its second controversy in China in two months, over what the coffee giant has described as a “misunderstanding” between its staff and a police officer. The incident unfolded on Sunday, when the beverage chain said that four police officers visited one of its
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By Swati Gupta and Rhea Mogul, CNN Indian singer and composer, Bappi Lahiri, who lent his talent to Indian cinema for nearly 50 years, died late Tuesday in Mumbai, according to a statement from his doctor. He was 69. “Bappi Lahiri was suffering from obstructive sleep apnea (OSA) and recurrent chest infection,” Dr. Deepak Namjoshi
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By Brian Stelter, CNN Business Nearly two weeks after CNN president Jeff Zucker was forced out of his position, his former lieutenant Allison Gollust has also resigned from the company. In a memo to staffers Tuesday evening, WarnerMedia CEO Jason Kilar said Gollust resigned after an investigation “into issues associated with” former CNN anchor Chris
Continue Reading By Brian Stelter, CNN Business Nearly two weeks after CNN president Jeff Zucker was forced out of his position, his former lieutenant Allison Gollust has also resigned from the company. In a memo to staffers Tuesday evening, WarnerMedia CEO Jason Kilar said Gollust resigned after an investigation “into issues associated with” former CNN anchor Chris
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By Chris Isidore, CNN Business The effort to unionize Starbucks workers is one of the country’s most closely-watched labor organizing drives in years. On Wednesday, that effort was temporarily put on hold. Just as votes by up to 43 workers at a Starbucks in Mesa, Arizona were due to be counted by the National Labor
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By Sonia Moghe, CNN The New York Times has prevailed in defending itself against a defamation lawsuit brought by Sarah Palin after jurors found she had not proven her case. The jury of nine, which had been deliberating since Friday afternoon, found the Times not liable for defamation against Palin. Unbeknownst to them, during deliberations,
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By Frank Pallotta, CNN Business “Paramount.” That’s the new name of ViacomCBS, the company announced on Tuesday. The new name will take effect on February 16 as the company celebrates Paramount+ — its streaming service, which launched roughly a year ago. “An iconic global company deserves an iconic global name. One that reflects the power
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By Jackie Wattles, CNN Business Virgin Galactic is reopening sales of its $450,000 tickets that get customers a 90-minute joyride aboard an air-launched rocket that brushes the edge of space. The company already has about 600 reservations from its first round of ticket sales, which priced a trip to suborbital space at about $200,000 to
Continue Reading By Sonia Moghe, CNN The New York Times has prevailed in defending itself against a defamation lawsuit brought by Sarah Palin after jurors found she had not proven her case. The jury of nine, which had been deliberating since Friday afternoon, found the Times not liable for defamation against Palin. Unbeknownst to them, during deliberations,
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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’s obsession with Hillary Clinton is only growing more fierce. The right-wing talk channel, which has in recent days dishonestly twisted a court filing from special counsel John Durham to
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By Karol Suarez and Abel Alvarado The United States is resuming its avocado inspection program in Mexico’s Michoacán state a week after imposing a temporary ban in response to a US inspector receiving a death threat. The Department of Agriculture’s Animal and Plant Health Inspection Service said Friday that it was working closely with Mexican
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By Clare Duffy, CNN Business Facebook-parent Meta has agreed to pay $90 million to settle a decade-old class action lawsuit over a practice that allowed the social network to track users’ activity across the internet, even if they had logged out of the platform. The settlement, announced on Tuesday, is one of the largest in
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By David Goldman, CNN Business Among the many appeals of the massively successful Wordle game is that it has just one solution per day. Every player in the world is trying to guess the same five-letter word. Well, it had only one until Tuesday. The New York Times, which bought Wordle two weeks ago, eliminated
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By Matt Egan, CNN Business The cost of living is already very high in America. The Russia-Ukraine crisis could make it even worse. Oil prices have jumped well above $90 a barrel in recent weeks as the risk of a Russian invasion has increased. If the Russia-Ukraine crisis drives oil to about $110 a barrel,
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By Paul R. La Monica, CNN Business Microsoft CEO Satya Nadella is on a major shopping spree. The company’s planned purchase of video game maker Activision Blizzard, with a price tag of nearly $70 billion, is Microsoft’s biggest and boldest acquisition. But it’s hardly the only notable deal in the Nadella era. Microsoft scooped up
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