By Heather Chen, CNN Nestlé has announced that it will close its sole factory and head office in Yangon, Myanmar’s largest city, as it switches to a more “sustainable” business model amid ongoing turmoil in the country. Myanmar has been rocked by violence and instability since 2021 when a military coup ousted democratically elected leader
Continue Reading By Rhea Mogul, CNN India imposed the highest number of internet shutdowns globally in 2022, a new report has revealed, in what critics say is yet another blow to the country’s commitment to freedom of speech and access to information. Of 187 internet shutdowns recorded worldwide, 84 took place in India, according to the report
Continue Reading By Laura He, CNN China’s factory activity has expanded at the fastest pace in more than a decade, as the world’s second largest economy staged what economists are calling a “very rapid” rebound after reopening from zero-Covid. The government’s official purchasing managers’ index (PMI) for the manufacturing industry hit 52.6 in February, the highest level
Continue Reading By Xiaofei Xu, Eve Brennan and James Frater, CNN The European Parliament on Tuesday banned TikTok from staff devices over cybersecurity concerns, meaning the Chinese video-sharing app is now barred in all three of the EU’s main institutions. “In view of cybersecurity concerns, in particular regarding data protection and collection of data by third parties,
Continue Reading By Peter Valdes-Dapena, CNN Business Nissan is recalling more than 700,000 Rogue and Rogue Sport compact SUVs because they can be shut off accidentally while driving. Some model year 2016 through 2020 Nissan Rogue and 2017 through 2022 Rogue Sports, have jackknife-style keys — the type in which the metal blade of the key flips
Continue Reading By Kara Scannell, CNN A former top executive of failed cryptocurrency trading platform FTX pleaded guilty and is cooperating with federal prosecutors investigating the alleged billion-dollar fraud at the now collapsed exchange. Nishad Singh, the former director of engineering at FTX, pleaded guilty to six conspiracy charges, including conspiracy to commit wire fraud, conspiracy to
Continue Reading By Allison Morrow, CNN Fox Chairman Rupert Murdoch said under oath that he made a business decision when allowing a conspiracy theorist to promote election lies on Fox News. “It is not red or blue; it is green,” he told lawyers in a deposition made public Monday. But spreading falsehoods about the 2020 presidential election
Continue Reading By Brian Fung, CNN The US government is reviewing a policy that permits certain US exports to continue to Huawei, despite an overall push by the Trump and Biden administrations to block the Chinese telecommunications giant from receiving American technology. Alan Estevez, a Commerce Department official, told lawmakers Tuesday that the policy is “under assessment”
Continue Reading By Catherine Thorbecke, CNN Mark Zuckerberg said Meta is creating a new “top-level product group” to “turbocharge” the company’s work on AI tools, as it attempts to keep pace with a renewed AI arms race among Big Tech companies. In a Facebook post late Monday, Zuckerberg said the elite new group will initially be formed
Continue Reading By Catherine Thorbecke, CNN Mark Zuckerberg said Meta is creating a new “top-level product group” to “turbocharge” the company’s work on AI tools, as it attempts to keep pace with a renewed AI arms race among Big Tech companies. In a Facebook post late Monday, Zuckerberg said the elite new group will initially be formed
Continue Reading By Paul R. La Monica, CNN Last year’s stock market zeroes are so far turning out to be this year’s Wall Street heroes. The best performer in the S&P 500 year to date through Monday’s close is Tesla. Elon Musk’s electric car giant is up nearly 70% in the first two months of this year,
Continue Reading By Nathaniel Meyersohn, CNN Planning to hit the gym during rush hour? You’ll have much better luck finding an open elliptical machine than a bench press, squat rack or 30-pound dumbbells. Strength training — also called weight training or resistance training — has surged in popularity, driven by new research on its health benefits, the
Continue Reading By Brian Fung, CNN A powerful House committee voted to advance legislation on Wednesday that would make it easier to ban TikTok from the United States and crack down on other China-related economic activity, amid vocal objections from some lawmakers and civil liberties advocates who argue the proposal is unconstitutionally broad and threatens a wide
Continue Reading By Anna Cooban, CNN A measure of UK grocery price inflation soared to a record high this month — that’s more bad news for consumers already facing a shortage of fruit and vegetables that has led to rationing at major supermarkets. Grocery prices rose 17.1% in the four weeks to February 19, compared with the
Continue Reading By Anna Bahney, CNN US home prices fell for the sixth month in a row in December, as rising mortgage rates pushed prospective buyers out of the housing market, according to the latest S&P CoreLogic Case-Shiller US National Home Price Index, released Tuesday. The National Composite declined by 0.8% in December, and now stands 4.4%
Continue Reading By Alicia Wallace, CNN American consumers felt much worse about the US economy in February amid rising interest rates and concerns about a potential recession, according to the latest survey data released Tuesday by the Conference Board. The business research group’s consumer confidence index fell to 102.9 in February from a downwardly revised 106 the
Continue Reading By Jordan Valinsky, CNN Baked goods company Entenmann’s is bringing back its cellophane window packaging after a two-year absence caused by flood damage at the factory that produces the iconic white and blue cartons. The cellophane window has been a recognizable feature for more than 70 years, allowing shoppers to view the tasty treats they’re
Continue Reading By Samantha Murphy Kelly, CNN Business Microsoft will roll out on Tuesday an update to Windows 11 that puts its new AI-powered Bing capabilities front and center on its taskbar, one of the operating system’s most widely used features, in the latest sign the company is doubling down on the buzzy technology despite some recent
Continue Reading By Nicole Goodkind, CNN 2022 was the worst year on record for bonds. Despite a promising start, 2023 is starting to look rough, too. The recent global bond rally appears to be tapering off as investors are getting a cold wet dose of reality about Fed rate hikes. Bad news for bonds could spell bad
Continue Reading By Jordan Valinsky, CNN Target’s decision to cut prices to boost sales has paid off. The retailer’s holiday-quarter sales at stores open at least a year rose nearly 1% compared to same period in 2021. That came in well above analysts’ expectations: Wall Street had expected sales to slip. Consumers spent more of their money
Continue Reading