By Nicole Goodkind, CNN Business Volkswagen is gunning for Tesla. Tesla is still king, with over 936,000 electric vehicles sold in 2021 and a share of about 14% of the global electric car market. But Volkswagen isn’t far behind. having grabbed about 11% of the market last year and doubled its EV sales compared with
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By Paul R. La Monica, CNN Business Disney investors aren’t having as awful a year as Netflix shareholders. But that’s not saying much. Netflix’s stock has plunged more than 40% this year, ahead of its first quarter earnings release after the closing bell Tuesday. Meanwhile, shares of Disney have dropped nearly 15% so far in
Continue Reading By Paul R. La Monica, CNN Business Disney investors aren’t having as awful a year as Netflix shareholders. But that’s not saying much. Netflix’s stock has plunged more than 40% this year, ahead of its first quarter earnings release after the closing bell Tuesday. Meanwhile, shares of Disney have dropped nearly 15% so far in
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By Julia Horowitz, CNN Business The International Monetary Fund has slashed its expectations for global economic growth over the next two years because of Russia’s invasion of Ukraine, comparing the ripple effects from the conflict to an “earthquake.” “The economic effects of the war are spreading far and wide,” the organization said in its latest
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By Matt Egan, CNN Business Prices at the pump have stopped falling from their recent highs — and some forecasters are warning of another uptick as the summer driving season looms and the war in Ukraine continues. After a slow-but-steady decline, the national average price for regular gasoline bottomed out at $4.07 a gallon last
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By Brian Fung, CNN Business Face masks are now optional for Uber and Lyft riders and drivers in the United States, the ride-hailing companies said Tuesday, shortly after several major airlines announced a similar change in policy. “The CDC order requiring masks while using rideshare platforms such as Uber is no longer in effect, and
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By Danielle Wiener-Bronner, CNN Business Popeyes has big expansion plans for 2022. The chicken chain is set to open more than 200 new locations in the United States and Canada this year, the company announced Tuesday. Popeyes also said it will launch additional locations in several other places around the world, including in South Korea,
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By Jeanne Sahadi, CNN Business Most people who are required to file 2021 tax returns will have done so by the official filing due date — Monday, April 18. Or they applied for an extension, giving them until October 17 to file their returns. But you’re not most people. You did neither. The question now
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By Rachel Metz, CNN Business On March 24, weeks before he offered to buy Twitter, Elon Musk posted a poll on the social media platform: “Twitter algorithm should be open source,” he wrote, with options for users to vote “yes” or “no.” Some of Twitter’s technology is already open source, which means it’s publicly available
Continue Reading By Julia Horowitz, CNN Business The International Monetary Fund has slashed its expectations for global economic growth over the next two years because of Russia’s invasion of Ukraine, comparing the ripple effects from the conflict to an “earthquake.” “The economic effects of the war are spreading far and wide,” the organization said in its latest
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By Brian Stelter, CNN Business Joe Kahn, the managing editor of The New York Times, will succeed Dean Baquet as executive editor in June. Kahn, a 24-year veteran of the news organization and Baquet’s second in command, was thought to be the favorite for the top Times newsroom job. Publisher A. G. Sulzberger confirmed it
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By Jackie Wattles, CNN Business The first all-private mission to the International Space Station is slated to complete the final leg of its journey this week, capping off what will be about a 12-day, multimillion-dollar journey. The mission, called AX-1, was brokered by the Houston, Texas-based startup Axiom Space, which books rocket rides, provides all
Continue Reading By Rachel Metz, CNN Business On March 24, weeks before he offered to buy Twitter, Elon Musk posted a poll on the social media platform: “Twitter algorithm should be open source,” he wrote, with options for users to vote “yes” or “no.” Some of Twitter’s technology is already open source, which means it’s publicly available
Continue Reading By Brian Fung, CNN Business Face masks are now optional for Uber and Lyft riders and drivers in the United States, the ride-hailing companies said Tuesday, shortly after several major airlines announced a similar change in policy. “The CDC order requiring masks while using rideshare platforms such as Uber is no longer in effect, and
Continue Reading By Brian Fung, CNN Business Face masks are now optional for Uber and Lyft riders and drivers in the United States, the ride-hailing companies said Tuesday, shortly after several major airlines announced a similar change in policy. “The CDC order requiring masks while using rideshare platforms such as Uber is no longer in effect, and
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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
Continue Reading 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
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