By Jordan Valinsky, CNN Business Nike has postponed the release of its latest sneaker collaboration with Travis Scott following the Astroworld concert tragedy that left 10 people dead. “Out of respect for everyone impacted by the tragic events at the Astroworld Festival, we are postponing the launch of the Air Max 1 x Cactus Jack,”
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By Paul R. La Monica, CNN Business Is the red hot housing market finally set to cool off? If so, someone forgot to tell Home Depot shoppers. Home Depot reported earnings for the third quarter Tuesday that easily topped forecasts. Overall sales rose nearly 10% from a year ago to $36.8 billion, also surpassing Wall
Continue Reading By Paul R. La Monica, CNN Business Is the red hot housing market finally set to cool off? If so, someone forgot to tell Home Depot shoppers. Home Depot reported earnings for the third quarter Tuesday that easily topped forecasts. Overall sales rose nearly 10% from a year ago to $36.8 billion, also surpassing Wall
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By Julia Horowitz, CNN Business The stock market is booming, and despite uncertainty about the economy, Wall Street is confident it can keep pressing ahead. But as inflation surges, there’s also an undercurrent of anxiety about what the future holds. Want evidence? Just look at the recent rise in gold and the US dollar. What’s
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By Nathaniel Meyersohn, CNN Business The supply chain crisis isn’t slowing down Walmart. America’s largest retailer and a bellwether of consumer spending reported strong sales growth during its most recent quarter. The company also raised its annual sales and profit growth, a signal that it’s expecting a strong holiday shopping stretch. Walmart on Tuesday said
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By Reuters JPMorgan Chase on Monday sued Tesla for $162.2 million, accusing Elon Musk’s electric car company of “flagrantly” breaching a contract related to stock warrants after its share price soared. According to the complaint filed in Manhattan federal court, Tesla in 2014 sold warrants to JPMorgan that would pay off if their “strike price”
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By Jordan Valinsky, CNN Business McDonald’s Egg McMuffin is turning 50 years old, and it’s giving the breakfast sandwich a price to match. On Thursday, McDonald’s will sell the Egg McMuffin for its original price of 63 cents during breakfast hours (6 am to 10:30 am). The promotion will be offered exclusively on the McDonald’s
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By Mark Thompson and Walé Azeez, CNN Business Natural gas prices in Europe soared on Tuesday after Germany confirmed that it has suspended the process of certifying a controversial new Russian pipeline called Nord Stream 2. The German energy market regulator said in a statement that it could not certify Nord Stream 2 as an
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By Michelle Toh and Lauren Lau, CNN Business Jamie Dimon is the latest big name in business to skip one of the world’s longest quarantines. Hong Kong leader Carrie Lam said Tuesday that the JPMorgan CEO had been granted a government exemption from self-isolation measures, which typically require travelers to stay in hotels at their
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By Chris Isidore, CNN Business Tesla CEO Elon Musk’s sales of his company’s stock continued Monday. His latest filing promises more are coming. Musk sold another $931 million worth of stock on Monday, bringing his total sales of stock during the last six trading days to $7.8 billion. He has sold some shares each of
Continue Reading By Mark Thompson and Walé Azeez, CNN Business Natural gas prices in Europe soared on Tuesday after Germany confirmed that it has suspended the process of certifying a controversial new Russian pipeline called Nord Stream 2. The German energy market regulator said in a statement that it could not certify Nord Stream 2 as an
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By Esha Mitra, Rhea Mogul, Arpit Goel and Manveena Suri, CNN At least seven men have been arrested in western India after a 16-year-old girl claimed she was raped hundreds of times by hundreds of men in the latest horrifying case to highlight the country’s rampant sexual violence problem. In a statement to India’s Child
Continue Reading By Esha Mitra, Rhea Mogul, Arpit Goel and Manveena Suri, CNN At least seven men have been arrested in western India after a 16-year-old girl claimed she was raped hundreds of times by hundreds of men in the latest horrifying case to highlight the country’s rampant sexual violence problem. In a statement to India’s Child
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By Laura He, CNN Business Chinese authorities are ramping up a crackdown on crypto mining, calling it an “extremely harmful” practice that threatens to jeopardize the country’s efforts to reduce carbon emissions. The National Development and Reform Commission spokesperson Meng Wei blasted bitcoin mining during a press conference Tuesday in Beijing. She said that activity
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By Pauline Lockwood, Bex Wright and Cape Diamond, CNN American journalist Danny Fenster has been freed from prison in Myanmar, according to a Myanmar military official and former New Mexico governor Bill Richardson, who had been on a private humanitarian visit to the country. Fenster’s release comes just days after the former managing editor of
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By Michelle Toh, CNN Business Google is making its largest-ever investment in Australia, after a clash with the government that saw the tech giant threaten to shut down search there earlier this year. CEO Sundar Pichai announced Monday that the company would devote 1 billion Australian dollars (about $736 million) to the country over the
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By Chris Isidore, CNN Business Unionized film production workers have narrowly agreed to new contracts, removing the threat of a strike that could have brought production to a halt nationwide. The deals cover technicians, artisans and craftspeople who perform a wide variety of non-acting and non-directing jobs for feature films, television shows and streaming programs.
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By Clare Duffy, CNN Business Ohio Attorney General Dave Yost on Monday announced that he is suing Meta, the social media giant formerly known as Facebook, based on revelations from whistleblower Frances Haugen and the trove of internal company documents she leaked. The securities lawsuit, filed on behalf of the Ohio Public Employees Retirement System
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By Frank Pallotta, CNN Business Adele had a big night. The singer’s new special, “Adele: One Night Only” notched roughly 10 million viewers for CBS on Sunday. The network said it was the most-watched entertainment special since the Oscars seven months ago. In fact, Adele slightly beat the Oscars, which nabbed a record-low 9.8 million
Continue Reading By Frank Pallotta, CNN Business Adele had a big night. The singer’s new special, “Adele: One Night Only” notched roughly 10 million viewers for CBS on Sunday. The network said it was the most-watched entertainment special since the Oscars seven months ago. In fact, Adele slightly beat the Oscars, which nabbed a record-low 9.8 million
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