By Peter Valdes-Dapena, CNN Business If you’re tired of getting random calls from companies claiming to be from “dealer services” and offering you an extended warranty on your car, the Federal Trade Commission is taking aim at some companies accused of making those calls. The FTC has filed suit against American Vehicle Protection Corp. of
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It’s Super Bowl week and last year, over 23 million Americans wagered a record $4.3 billion on the Super Bowl, but none of that happened in the state of Missouri.
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By Sara O’Brien, CNN Business Uber’s business is showing signs that it’s moving past the pandemic slowdown. The company reported Wednesday that its revenue grew 83% year-over-year to $5.8 billion in the final three months of 2021, as people increasingly turned to its ride-hail platform to get around and ordered food through its delivery service.
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By Sonia Moghe, CNN Former Alaska Governor Sarah Palin took the witness stand Wednesday in her defamation trial against the New York Times. Palin testified for about 15 minutes before court ended for the day. She sued the New York Times and former editorial page editor James Bennet in 2017 over an editorial they published
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By Frank Pallotta, CNN Business Disney+ regained some of its magic on Wednesday with subscriber totals that exceeded Wall Street’s expectations. The streaming service now has 129.8 million subscribers, a gain of nearly 12 million in the company’s fiscal first quarter. Those results beat expectations and were a rebound for the media company after a
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By Matt Egan, CNN Business Oil prices could soar to $120 a barrel if Russia’s crude exports are derailed by tensions with Ukraine, according to projections from JPMorgan. The forecast underscores how a potential invasion of Ukraine would cause wide-ranging ripple effects that would be felt by inflation-weary consumers around the world. “Any disruptions to
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By Brian Fung, CNN Microsoft is trying to persuade regulators to approve its $68.7 billion acquisition of Activision Blizzard with a series of new app store commitments that it says will put the company “on the right side of history” as policymakers worldwide debate new laws to force competition open in digital marketplaces. The 11-point
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By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The traffic to the cancellation page for Spotify Premium has jumped in recent weeks as the audio streaming company faces a wave of backlash over its support for podcaster Joe
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By Paul R. La Monica, CNN Business The priciest Super Bowl commercials will cost a record $7 million this year, according to NBC. To put that into terms many of the big game’s advertisers will understand, that’s about 160 bitcoin or 2,200 ether. Cryptocurrencies will be taking center stage during the ad breaks of Super
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By Jackie Wattles, CNN Business Up to 40 of SpaceX’s Starlink satellites are expected to fall out of orbit thanks to some inopportune timing: The company launched the satellites directly into a solar storm. A batch of 49 Starlink internet satellites were on SpaceX’s latest launch on February 3, and now the company is expecting
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By Matt Egan, CNN Business Sick workers. Computer chip shortages. Supply chain stress. Carrier Global, like countless other companies right now, is navigating a minefield of challenges to get orders out to its customers. Absent these operational headaches, the manufacturing giant estimates it would have been able to ship another $200 million to $300 million
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By Matt McFarland, CNN Business The California Department of Fair Employment and Housing will sue Tesla, alleging systematic racial discrimination and harassment, the automaker said in a blog post Wednesday. Department spokesperson Fahizah Alim declined to confirm or comment on the expected lawsuit. If filed, the lawsuit would be the latest in a series of
Continue Reading By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The traffic to the cancellation page for Spotify Premium has jumped in recent weeks as the audio streaming company faces a wave of backlash over its support for podcaster Joe
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By Samantha Murphy Kelly, CNN Business Samsung’s Galaxy Note smartphone line appears to be discontinued. But for those who miss it, the Note lives on in one of Samsung’s new flagship devices. The company announced during a virtual event on Wednesday its next-generation flagship Galaxy S smartphones: the Galaxy S22, Galaxy S22 Plus and the
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By Brian Stelter, CNN Business Discovery and AT&T received a long-awaited green light from the Justice Department on Wednesday, driving the two companies closer to completing Discovery’s takeover of WarnerMedia. AT&T is planning to spin off CNN and the rest of WarnerMedia in the coming months, at which point Discovery will merge with WarnerMedia, creating
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By Julia Horowitz, CNN Business Economists and investors have been closely watching climbing producer prices and wages for clues on where inflation is heading. They’re rising, which could add to inflationary pressure in the coming months. But on another front — supply chain backlogs — there are some welcome signs of relief. What’s happening: An
Continue Reading By Samantha Murphy Kelly, CNN Business Samsung’s Galaxy Note smartphone line appears to be discontinued. But for those who miss it, the Note lives on in one of Samsung’s new flagship devices. The company announced during a virtual event on Wednesday its next-generation flagship Galaxy S smartphones: the Galaxy S22, Galaxy S22 Plus and the
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By Rob North and Chris Liakos Maersk has a front-row seat to global supply chains. It says more trouble is ahead. The supply chain issues that have walloped the global economy and spurred inflation during the coronavirus pandemic are not getting much better, Maersk CEO Søren Skou told CNN Business on Wednesday. “Right now the
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By Danielle Wiener-Bronner, CNN Business The tide could be turning on consumers’ willingness to pay higher prices, Coca-Cola CEO James Quincey warned Thursday. Consumer goods companies have been steadily hiking prices as their own production costs rise, and so far, shoppers seem to be accepting the increases. Executives at McDonald’s, Chipotle and elsewhere have recently
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By Christine Romans, CNN Business There’s an uninvited guest coming to your Super Bowl party this year: inflation. Last year’s shindig may have been a casualty of Covid hibernation. This year, with mass vaccinations and more widespread testing, such a get-together is finally possible. And with it comes a grocery bill that reflects the surging
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