By Michelle Toh, CNN Business One of China’s top investment bankers says the country’s stock markets appear to be nearing “the bottom.” Chinese markets have been battered in recent months by the impact of Beijing’s “zero Covid” policy, a real estate slump, aggressive regulation and jitters about the country’s close ties with Russia. So far
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By Mark Thompson, CNN Business Renault is selling its business in Russia, including a controlling stake in Lada, becoming the latest carmaker to exit the country over its assault on Ukraine. In a statement on Monday, the French company said it had agreed to sell Renault Russia to the city of Moscow and its stake
Continue Reading By Mark Thompson, CNN Business Renault is selling its business in Russia, including a controlling stake in Lada, becoming the latest carmaker to exit the country over its assault on Ukraine. In a statement on Monday, the French company said it had agreed to sell Renault Russia to the city of Moscow and its stake
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By Laura He, CNN Business China has reported disappointing economic data for the month of April, underscoring the extensive damage Covid lockdowns have wreaked on the country. The world’s second largest economy reported shocking drops in retail sales and factory production, widely missing market expectations. Retail sales plunged 11.1% in April from a year ago,
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By Ramishah Maruf, CNN The GOP Senate primary in Pennsylvania reveals a lot about the state of the Republican Party — and how it uses the media. The seven candidates for the US Senate in the state have conducted at least 19 interviews across Fox and Newsmax so far this month, CNN’s chief media correspondent
Continue Reading By Ramishah Maruf, CNN The GOP Senate primary in Pennsylvania reveals a lot about the state of the Republican Party — and how it uses the media. The seven candidates for the US Senate in the state have conducted at least 19 interviews across Fox and Newsmax so far this month, CNN’s chief media correspondent
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By Brian Stelter and Sharif Paget, CNN A spokesperson for Twitch said the company removed a livestream by the Buffalo grocery store massacre suspect less than two minutes after the violence started. The suspected shooter, an 18-year-old White man, shot and killed 10 people and injured three others at a supermarket in a predominantly Black
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Reuters Elon Musk on Saturday tweeted that Twitter’s legal team accused him of violating a nondisclosure agreement by revealing that the sample size for the social media platform’s checks on automated users was 100. “Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!” tweeted
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By Sara Ashley O’Brien, CNN Business TikTok posts about actor Johnny Depp’s defamation trial against his ex-wife, actress Amber Heard, have turned a stay-at-home mom based in Scotland into an accidental influencer. Or, perhaps more aptly, a DeppTok influencer. Sophie Doggett, whose TikTok was previously populated by videos on everyday things such as herself or
Continue Reading By Sara Ashley O’Brien, CNN Business TikTok posts about actor Johnny Depp’s defamation trial against his ex-wife, actress Amber Heard, have turned a stay-at-home mom based in Scotland into an accidental influencer. Or, perhaps more aptly, a DeppTok influencer. Sophie Doggett, whose TikTok was previously populated by videos on everyday things such as herself or
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Opinion by Adam Weinberg for CNN Business Perspectives High school students and their parents devote an extraordinary amount of time and energy to the college search process. But then an odd thing happens once a student is accepted. Families tend to exhale — “All done!” — and mostly put college out of their mind until
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By Danielle Wiener-Bronner, CNN Business Pizza places have always been experts when it comes to delivery, flexing with remote drop-offs and robot delivery cars. But now they’re facing a problem: not enough drivers. In early March, Domino’s then-CEO Ritch Allison warned that a driver shortage would be a drag on business. “Delivery driver staffing may
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By Danielle Wiener-Bronner, CNN Business Wingstop wants to lower its food supply costs. So it’s considering raising its own chickens. Restaurant brands like Wingstop have struggled with their supply chains in recent years, as the Covid-19 pandemic, extreme weather and the war in Ukraine, among other factors, have tightened food supplies and sent prices soaring.
Continue Reading By Brian Stelter and Sharif Paget, CNN A spokesperson for Twitch said the company removed a livestream by the Buffalo grocery store massacre suspect less than two minutes after the violence started. The suspected shooter, an 18-year-old White man, shot and killed 10 people and injured three others at a supermarket in a predominantly Black
Continue Reading By Brian Stelter and Sharif Paget, CNN A spokesperson for Twitch said the company removed a livestream by the Buffalo grocery store massacre suspect less than two minutes after the violence started. The suspected shooter, an 18-year-old White man, shot and killed 10 people and injured three others at a supermarket in a predominantly Black
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By Paul R. La Monica, CNN Business Worries about an economic slowdown are running wild on Wall Street. Despite concerns about inflation, higher interest rates from the Federal Reserve, supply chain issues and geopolitical turmoil due to Russia’s invasion of Ukraine and Covid outbreaks in China, American consumers continue to do what they do best:
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By Ramishah Maruf, CNN Amazon founder Jeff Bezos accused President Joe Biden of spreading “misdirection” on Twitter, after the president tweeted that wealthy corporations should be paying their fair share of taxes to bring down inflation. “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share,” Biden tweeted from
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By Ramishah Maruf, CNN Mars Wrigley US and Canada issued a voluntary recall of numerous gummy candies Friday, saying there could be a thin metal strand inside the candies or loose in the bag. The gummies were distributed in Canada, the United States and Mexico. The company is recalling certain varieties of Skittle Gummies, Starburst
Continue Reading By Ramishah Maruf, CNN Mars Wrigley US and Canada issued a voluntary recall of numerous gummy candies Friday, saying there could be a thin metal strand inside the candies or loose in the bag. The gummies were distributed in Canada, the United States and Mexico. The company is recalling certain varieties of Skittle Gummies, Starburst
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By Jordan Valinsky, CNN Business Outback Steakhouses of the future won’t be nearly as expansive as the outback itself. Like many casual dining chains, Outback is pivoting toward a post-pandemic future in which delivery and takeout orders are increasingly important to the bottom line. So the chain, known for its Bloomin’ Onions and steaks, is
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