By Charles Riley, CNN Business China is facing an economic crisis after a real estate boom ended with a bang last year, according to investor George Soros. The billionaire said in a speech at Stanford University’s Hoover Institution Monday that President Xi Jinping may not be able to restore confidence in the troubled industry, which
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By Brian Fung, CNN Business Sony is acquiring Bungie, the video game studio that created hit franchises such as “Halo” and “Destiny,” in a $3.6 billion deal that further centralizes the rapidly consolidating game industry. In a blog post, Sony (SONY) said the acquisition would help take its PlayStation platform “beyond the console” and flesh
Continue Reading By Charles Riley, CNN Business China is facing an economic crisis after a real estate boom ended with a bang last year, according to investor George Soros. The billionaire said in a speech at Stanford University’s Hoover Institution Monday that President Xi Jinping may not be able to restore confidence in the troubled industry, which
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By Jennifer Korn, CNN Business The world’s first all-electric passenger aircraft is preparing to take flight. The Alice, a plane developed by Israeli company Eviation, went through engine testing last week at Arlington Municipal Airport north of Seattle. According to Eviation CEO Omer Bar-Yohay, the Alice is just weeks away from its first flight. With
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By Paul R. La Monica, CNN Business The Los Angeles Rams or Cincinnati Bengals? No one knows what the outcome of the Super Bowl will be. But one thing seems certain. No matter who wins, sports betting companies could score financial touchdowns. This year stands to be the biggest one yet for the industry —
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By Ramishah Maruf, CNN Joe Rogan has responded to the backlash he’s received from Spotify artists surrounding Covid-19 misinformation on his popular podcast. “I’m not trying to promote misinformation, I’m not trying to be controversial. I’ve never tried to do anything with this podcast other than just talk to people and have interesting conversations,” Rogan
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By Frank Pallotta, CNN Business Spotify has had a rough couple of weeks. Its stock took a big hit Wednesday because of a slowing growth forecast, and the company has seen creators from the music and podcasting world desert the platform because of comments by comedian and podcast host Joe Rogan. While the departures are
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Opinion by Asutosh Padhi for CNN Business Perspectives As the managing partner for McKinsey in North America, I talk to CEOs every week, and I keep hearing the same thing across all industries and regions of the US: We’re in one of the most bewildering labor markets in a generation. Job openings remain dramatically higher
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By Scottie Andrew, CNN Within weeks of a Tennessee school district moving to ban “Maus,” a Pulitzer Prize-winning graphic novel depicting the horrors of the Holocaust, readers are propelling it to the top of best seller lists more than 30 years after it was first published. The hardcover edition of “The Complete Maus,” which includes
Continue Reading By Scottie Andrew, CNN Within weeks of a Tennessee school district moving to ban “Maus,” a Pulitzer Prize-winning graphic novel depicting the horrors of the Holocaust, readers are propelling it to the top of best seller lists more than 30 years after it was first published. The hardcover edition of “The Complete Maus,” which includes
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By Julia Horowitz, CNN Business What do banks, airlines and fast food chains have in common? They’re all keeping a close eye on rising wages, which could hold the key to where inflation heads next. This just in: Compensation for American workers climbed 4% in the year to December 2021, the biggest increase in two
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By Gabe Cohen, CNN Business Grocery costs keep climbing. Prices of meat, seafood, produce, cereal and other kitchen staples shot up 9% in 2021. That’s according to data from IRI, a Chicago-based market research firm, and the trend is continuing this year. Big-name brands are raising prices: Kraft Heinz announced hikes on Velveeta cheese, Oscar
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By Danielle Wiener-Bronner, CNN Business Stress eating is about to get more expensive: Hershey is raising prices this year. “Pricing will be an important lever for us this year and is expected to drive most of our growth,” Hershey CEO Michele Buck said in prepared remarks discussing the company’s financial results Thursday. In its 2022
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By Ramishah Maruf, CNN Business Spotify responded to criticism it has received regarding Covid-19 content Sunday after a number of prominent artists said they will leave the platform if it continues to host comedian Joe Rogan, whose podcast has spread misleading and inaccurate claims about vaccines and the virus. Spotify said it is adding a
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By Diksha Madhok, CNN Business China’s government is using new intimidation methods against journalists and their sources, according to an annual survey by the Foreign Correspondents’ Club of China. The report, which was released Monday, said foreign correspondents are facing “unprecedented hurdles” covering the world’s most populous nation. Those hurdles include online trolling, cyber hacking,
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By Jessie Yeung and CNN’s Beijing Bureau, CNN Business A Chinese subway system’s attempt to spread some Lunar New Year cheer backfired over the weekend, as panicked passengers mistook seasonal red QR codes for positive Covid tests. Chinese social media users reported Sunday that the Shanghai metro’s QR code — which passengers scan when they
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By Laura He, CNN Business Coronavirus outbreaks and strict lockdowns in China are continuing to take their toll on the country’s factories. A private index measuring activity at factories in China fell to 49.1 in January from December’s 50.9. It’s the lowest level for the Caixin/Markit manufacturing Purchasing Managers Index since February 2020, when the
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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. Every day, there’s another tug-of-war over who gets heard and where and how, another power struggle over platforming. “The battle lines over truth and falsehood aren’t just cutting across 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. Every day, there’s another tug-of-war over who gets heard and where and how, another power struggle over platforming. “The battle lines over truth and falsehood aren’t just cutting across the
Continue Reading By Ramishah Maruf, CNN Business Spotify responded to criticism it has received regarding Covid-19 content Sunday after a number of prominent artists said they will leave the platform if it continues to host comedian Joe Rogan, whose podcast has spread misleading and inaccurate claims about vaccines and the virus. Spotify said it is adding a
Continue Reading