By Kerry Flynn, CNN Business The word “metaverse” is popping up everywhere. Facebook recently changed its name to Meta Platforms. Nike bought a virtual shoe company to help it expand to the metaverse. And other brands like Gucci and Ralph Lauren have been considering the future of fashion with digital personas. With all the attention,
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By Gul Tuysuz, CNN Turkey’s annual rate of inflation has hit a 19-year high as a currency collapse sends the cost of imports soaring. According to the Turkish Statistical Institute, consumer prices soared 36% in December compared to the same month the previous year. Prices are now rising at their fastest pace since September 2002.
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By Diksha Madhok, CNN Business The Indian government says it is investigating a website that purported to offer Muslim women for sale, the second time in less than a year that a fake online auction of this kind has sparked outrage in the country. The website was created on GitHub, an American coding platform which
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By Diksha Madhok, CNN Business Embattled Chinese property developer Evergrande suspended trading in Hong Kong on Monday as the heavily indebted company contends with an ongoing real estate crisis. Evergrande said in a filing to the Hong Kong Stock Exchange that its trading halt was pending an “announcement containing inside information,” though it did not
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By Chris Isidore, CNN Business Tesla bucked the industry-wide trend of reduced sales due to the shortage of computer chips and other parts, posting record sales in the fourth quarter, up 71% from a year earlier. The strong fourth quarter of 308,600 vehicles gave Tesla full-year sales of 936,000, up 87% from the 2020 total,
Continue Reading By Chris Isidore, CNN Business Tesla bucked the industry-wide trend of reduced sales due to the shortage of computer chips and other parts, posting record sales in the fourth quarter, up 71% from a year earlier. The strong fourth quarter of 308,600 vehicles gave Tesla full-year sales of 936,000, up 87% from the 2020 total,
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By Ramishah Maruf, CNN Business One of the defining stories of this year was the Jan. 6 insurrection, and its significance is only growing from here, CNN’s chief media correspondent Brian Stelter said on “Reliable Sources” Sunday. Approaching the one year anniversary, journalists are continuing to report on the attack and its aftermath, and many
Continue Reading By Ramishah Maruf, CNN Business One of the defining stories of this year was the Jan. 6 insurrection, and its significance is only growing from here, CNN’s chief media correspondent Brian Stelter said on “Reliable Sources” Sunday. Approaching the one year anniversary, journalists are continuing to report on the attack and its aftermath, and many
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By Matt Egan Goldman Sachs is joining a growing list of Wall Street firms advising employees to stay home due to soaring Covid cases. The bank sent a memo Sunday encouraging employees who can work remotely to do so until January 18, a Goldman Sachs spokesperson told CNN. Goldman Sachs cited “rising community infections” in
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By Eric Cheung and Tara John, CNN Business The independent Hong Kong news site Citizen News said it will be shutting down on Tuesday, citing the deteriorating media environment in the city and the need to protect its staff. Citizen News was the largest remaining independent news outlet in Hong Kong following the shuttering of
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By Chris Isidore, CNN Business What’s Elon Musk doing with the billions he’s collected in the past two months from selling shares in Tesla? It seems possible, maybe even likely, that he’s put at least some of the money into SpaceX, the other company of which he is CEO and primary shareholder. Most of the
Continue Reading By Peter Valdes-Dapena, CNN Business Tesla has opened a new showroom in Xinjiang, a region in western China that is purported to be the site of abuse and brutal repression of the country’s Uyghurs, a predominantly Muslim ethnic minority. The region has become a major geopolitical hotspot in recent years, and a key source of
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By Julia Horowitz, CNN Business The stock market just wrapped up one of its best years on record. Can it repeat its stellar performance in 2022, even when faced with inflation concerns and rising interest rates? Wall Street certainly thinks so. Jonathan Golub, chief US equity strategist at Credit Suisse, predicts that the S&P 500
Continue Reading By Julia Horowitz, CNN Business The stock market just wrapped up one of its best years on record. Can it repeat its stellar performance in 2022, even when faced with inflation concerns and rising interest rates? Wall Street certainly thinks so. Jonathan Golub, chief US equity strategist at Credit Suisse, predicts that the S&P 500
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By Gregory Wallace and Matt McFarland, CNN Business Thousands of US flights were canceled over New Year’s weekend as a combination of Covid-19 disruptions and wintry weather slowed travel. Flight cancellations have trended up steadily since Christmas Eve, hitting a new peak Saturday as millions travel over the holidays. Data from the website FlightAware shows
Continue Reading By Samantha Murphy Kelly, CNN Business You soon won’t be able to use that old BlackBerry phone sitting at the bottom of your drawer somewhere. Starting Tuesday, January 4, the company will stop running support for its classic devices running BlackBerry 10, 7.1 OS and earlier. This means all of its older devices not running
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By Gregory Wallace and Matt McFarland, CNN Thousands of US flights were canceled on New Year’s Day as a combination of Covid-19 and wintry weather have slowed travel. Flight cancellations have trended up steadily since Christmas Eve, hitting a new peak Saturday morning as millions travel over the holidays. Data from the website FlightAware shows
Continue Reading By Gregory Wallace and Matt McFarland, CNN Business Thousands of US flights were canceled over New Year’s weekend as a combination of Covid-19 disruptions and wintry weather slowed travel. Flight cancellations have trended up steadily since Christmas Eve, hitting a new peak Saturday as millions travel over the holidays. Data from the website FlightAware shows
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By Jackie Wattles, CNN Business When future generations write about the history of space travel, 2021 may well get its own chapter. “The year of the billionaires,” it might be called. Jeff Bezos and Richard Branson each took supersonic joy rides to the edge of space, finally bringing their competing private-sector spacecraft into operation after
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By Anneken Tappe, CNN Business America is finishing the year with decades-high inflation. That doesn’t bode well for 2022. Prices have climbed so high it will take some time for them to come back down to earth. In other words, the uncomfortable inflation numbers of 2021 will likely stay with us well into the New
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