By Nicole Goodkind, CNN Business Persistent inflation remains the Federal Reserve’s No. 1 concern, even as the banking sector remains on edge after two big bank failures last month. This week’s Consumer Price Index, due to be announced Wednesday at 8:30 am ET, could determine whether the central bank raises rates again in May. That
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By Jordan Valinsky, CNN An enormous Whole Foods in downtown San Francisco that opened just last year is temporarily closing. The company said rampant crime in the area forced it to shut down. The nearly 65,000-square foot location at Trinity Place in the city’s Mid-Market neighborhood shut its doors Monday to “ensure the safety” of
Continue Reading By Jordan Valinsky, CNN An enormous Whole Foods in downtown San Francisco that opened just last year is temporarily closing. The company said rampant crime in the area forced it to shut down. The nearly 65,000-square foot location at Trinity Place in the city’s Mid-Market neighborhood shut its doors Monday to “ensure the safety” of
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By Anna Cooban, CNN Cineworld’s stock plummeted 36% Tuesday afternoon to an all-time low after the company said it had filed a plan to reorganize its business and shareholders would not recover any of their funds. The embattled owner of Regal Cinemas said it had submitted a final version of the plan to a US
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By Duarte Mendonca and Olesya Dmitracova, CNN The head of the most influential business lobby in the United Kingdom has been fired following a probe into complaints about his workplace conduct. Tony Danker is leaving the Confederation of British Industry with immediate effect, the group said in a statement Tuesday. Three other employees have been
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By Michelle Toh, CNN Alibaba showed off its answer to the ChatGPT craze on Tuesday, demonstrating new software that it plans to eventually roll out across all its platforms. The Chinese tech giant unveiled Tongyi Qianwen, a large language model that will be embedded in its Tmall Genie smart speakers and workplace messaging platform DingTalk.
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By Ramishah Maruf, CNN West Virginia has settled a lawsuit with e-cigarette maker Juul Labs for a total of $7.9 million, the state’s attorney general announced Monday. The company was accused of unfair, deceptive acts or practices in the advertising and marketing of Juul products in the state, specifically targeting teenagers. The lawsuit claimed Juul
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By Allison Morrow, CNN Democratic lawmakers sent letters to 14 of the largest depositors at Silicon Valley Bank, seeking details about the lender’s “unusually cozy” relationships with its well-heeled clients. Senator Elizabeth Warren of Massachusetts and Representative Alexandria Ocasio-Cortez of New York sent the letters Sunday to executives at Roku, Roblox, Circle and BlockFi, among
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By Alicia Wallace, CNN US consumers are starting to feel that credit is getting harder to come by, according to survey results released Monday by the Federal Reserve Bank of New York. Consumer perceptions of credit access and availability declined in March, with the share of respondents reporting it’s harder to obtain credit than one
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By Jeanne Sahadi, CNN Parents invest so much of themselves, emotionally and financially, in raising their children — but the time comes when a parent has to stop subsidizing their adult children’s everyday expenses. Think housing, health insurance, car payments, cell phones, credit cards, subscription services, student loans and travel. And, as it turns out,
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By Jordan Valinsky, CNN Tupperware shares fell nearly 50% Monday following a bleak warning that its future is looking murky. In a regulatory filing late Friday, the container maker said there’s “substantial doubt about the company’s ability to continue as a going concern,” and that it’s working with financial advisers to find financing to stay
Continue Reading By Jordan Valinsky, CNN Tupperware shares fell nearly 50% Monday following a bleak warning that its future is looking murky. In a regulatory filing late Friday, the container maker said there’s “substantial doubt about the company’s ability to continue as a going concern,” and that it’s working with financial advisers to find financing to stay
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By Oliver Darcy, CNN Fox News has settled a defamation lawsuit from a Venezuelan businessman who had accused the network of making false claims about him and the 2020 election, attorneys for the man and Fox News said Saturday in a court filing. The details of the settlement were not made public. “This matter has
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By Hilary Whiteman, CNN Australian broadcaster Sky News has left TikTok because of security concerns that have led several Western governments to ban the video app on devices used by officials. In an article published on the Sky News Australia website Monday, digital editor Jack Houghton said the security risks posed by the “Beijing-controlled platform”
Continue Reading By Hilary Whiteman, CNN Australian broadcaster Sky News has left TikTok because of security concerns that have led several Western governments to ban the video app on devices used by officials. In an article published on the Sky News Australia website Monday, digital editor Jack Houghton said the security risks posed by the “Beijing-controlled platform”
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By Nicole Goodkind, CNN In an unusual coincidence, the US jobs report was released on a holiday Friday — meaning stock markets were closed when the closely-watched economic data came out. It was the first monthly payroll report since Silicon Valley Bank and Signature Bank collapsed. It also marked a full year of jobs data
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By Manveena Suri and Rhea Mogul, CNN The Dalai Lama has apologized after a video emerged showing the spiritual leader kissing a child on the lips and then asking him to “suck my tongue” at an event in northern India. In a statement Monday, the office for the Dalai Lama said he “wishes to apologize
Continue Reading By Manveena Suri, Rhea Mogul and Tenzin Dharpo, CNN The Dalai Lama has apologized after a video emerged showing the spiritual leader kissing a child on the lips and then asking him to “suck my tongue” at an event in northern India. In a statement Monday, the office for the Dalai Lama said he “wishes
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By Ramishah Maruf and Juliana Liu, CNN Tesla will open a Megapack battery factory in Shanghai, it said on Sunday, as it doubles down on its investment in China even as political tension rises between Beijing and Washington. The news was announced just days after Airbus unveiled plans for a second final-assembly line in the
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By Jessie Yeung, CNN Tigers once roamed across Asia, their numbers as high as 100,000 at the start of the 20th century, before the species plummeted to the brink of extinction. By 2006, their population in India — home to the majority of the world’s remaining wild tigers — hit a record low of just
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