By Julia Horowitz, CNN Business As the World Bank and the International Monetary Fund kick off their spring meetings this week, both are sounding a warning: The global economy, they say, is quickly losing steam. What’s happening: The World Bank has slashed its forecast for global growth in 2022 to 3.2% from 4.1%, anticipating a
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By Laura He, CNN Business Investors are ditching China at an unprecedented scale as a cocktail of political and business risks, and rising interest rates elsewhere, make the world’s second biggest economy a less attractive place to keep their money. China witnessed $17.5 billion worth of portfolio outflows last month, an all-time high, according to
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Story by Samantha Murphy Kelly, CNN Business Video by John General, CNN Business Christopher James Dawley, known as CJ to his friends and family, was 14 years old when he signed up for Facebook, Instagram and Snapchat. Like many teenagers, he documented his life on those platforms. CJ worked as a busboy at Texas Roadhouse
Continue Reading Story by Samantha Murphy Kelly, CNN Business Video by John General, CNN Business Christopher James Dawley, known as CJ to his friends and family, was 14 years old when he signed up for Facebook, Instagram and Snapchat. Like many teenagers, he documented his life on those platforms. CJ worked as a busboy at Texas Roadhouse
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. Netflix will report first quarter earnings on Tuesday afternoon, setting the bar for a season of financial reports that will reveal a whole lot about the state of streaming. The
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. Netflix will report first quarter earnings on Tuesday afternoon, setting the bar for a season of financial reports that will reveal a whole lot about the state of streaming. The
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By Pete Muntean and Dave Alsup, CNN After a federal judge in Florida struck down the Biden administration’s mask mandate for airplanes and other public transport methods, airlines are starting to act. Several US airlines announced Monday that masks are now optional on their aircraft — Delta Air Lines, American Airlines, United Airlines, Southwest Airlines,
Continue Reading By Pete Muntean and Dave Alsup, CNN After a federal judge in Florida struck down the Biden administration’s mask mandate for airplanes and other public transport methods, airlines are starting to act. Several US airlines announced Monday that masks are now optional on their aircraft — Delta Air Lines, American Airlines, United Airlines, Southwest Airlines,
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By Clare Duffy, CNN Business Twitter has indicated that it’s not interested in being bought by the world’s richest man without a fight. The social network’s board made a defensive maneuver that could thwart Elon Musk’s takeover bid, but he still has a range of options that suggest this Silicon Valley showdown is likely far
Continue Reading By Clare Duffy, CNN Business Twitter has indicated that it’s not interested in being bought by the world’s richest man without a fight. The social network’s board made a defensive maneuver that could thwart Elon Musk’s takeover bid, but he still has a range of options that suggest this Silicon Valley showdown is likely far
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By Chris Isidore and Sara Ashley O’Brien, CNN Business Some employees at the Apple store at New York’s Grand Central Terminal are seeking to form a union, the latest high-profile labor organizing effort to take root in the pandemic era. A person familiar with the matter told CNN Business that workers at the Grand Central
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By Matt Egan, CNN Business Natural gas futures surged on Monday to levels unseen since 2008 as the Northeast braces for a rare April blast of heavy snow. The looming nor’easter will force millions of families to crank up the heat in the coming days, driving up demand for natural gas, the most popular way
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By Matt Egan Faced with a white-hot real estate market, renters are losing confidence they will ever own a home. On average only 43.3% of renters expect to own a home at some point in the future, down sharply from 51.6% in 2021, according to a Federal Reserve Bank of New York survey released on
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By Paul R. La Monica, CNN Business Tesla is in a highly competitive electric car market. It has no chief operating officer. And CEO Elon Musk was already busy juggling leadership roles at SpaceX, The Boring Company and Neuralink before he launched an unsolicited takeover offer for Twitter. That’s a lot of distractions. And it
Continue Reading By Paul R. La Monica, CNN Business Tesla is in a highly competitive electric car market. It has no chief operating officer. And CEO Elon Musk was already busy juggling leadership roles at SpaceX, The Boring Company and Neuralink before he launched an unsolicited takeover offer for Twitter. That’s a lot of distractions. And it
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By Uliana Pavlova, Chris Liakos and Anna Cooban, CNN Business The exodus of Western companies from Russia could cost hundreds of thousands of jobs in Moscow alone. The city’s mayor, Sergey Sobyanin, said in a blog post Monday that 200,000 people were at risk of losing their jobs. Authorities were setting aside 3.36 billion rubles
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By Matt Egan, CNN Business Oil prices fell sharply Monday as Covid lockdowns in China stoked concerns that the country’s zero-Covid strategy will sap energy demand in the world’s second-largest economy. US oil dropped 5.6% to a two-week low of $96.33 a barrel Monday morning, while Brent, the world benchmark, fell 4.9% to $101.43 a
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Opinion by Jewher Ilham for CNN Business Perspectives “Go. Go. Don’t look back. This is probably your last chance.” Those were the final words I heard from my father, Ilham Tohti, the last time I saw him. We were at the Beijing Capital International Airport in 2013, about to fly to America together, when he
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By Oliver Darcy, CNN Business Three companies tied to the far-right conspiracy theorist Alex Jones, including his fringe media organization InfoWars, are seeking bankruptcy protection, according to court documents filed Sunday. The move, which could pause civil litigation against the companies, comes after Jones was found legally responsible for damages in three defamation lawsuits related
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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. Richard Roth, CNN’s senior UN correspondent, the last remaining original employee of CNN, is recovering after a successful kidney transplant earlier this week. In a note to colleagues on Friday,
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