By Peter Valdes-Dapena, CNN Business For those who really don’t want a long term commitment but who may try out living with an electric vehicle, Hyundai is starting a car subscription service. Hyundai’s new Evolve+ program is designed for the “EV-curious,” or for those who only need a car temporarily, like “snowbirds” who move to
Continue Reading By Paul R. La Monica, CNN With more states legalizing gambling on sports, Super Bowl LVII will probably be the biggest event for the industry ever. The American Gaming Association is predicting that more than 50 million people will bet about $16 billion on the National Football League championship game between the Kansas City Chiefs
Continue Reading Story by Clare Duffy, CNN Graphics by Christopher Hickey, CNN More than half of Twitter’s top 1,000 advertisers in September were no longer spending on the platform in the first weeks of January, according to data provided to CNN by digital marketing analysis firm Pathmatics by Sensor Tower, in a striking sign of how far
Continue Reading By Jessie Gretener and Olesya Dmitracova, CNN South Africa’s President Cyril Ramaphosa has declared a national state of disaster in response to the country’s drawn-out energy crisis, calling it “an existential threat” to Africa’s most developed economy. Setting out the government’s key objectives for the year in a state of the nation address Thursday, Ramaphosa
Continue Reading By Alicia Wallace, CNN Easing inflation and a strong labor market are helping consumers feel better about the economy this month, according to a closely watched survey released Friday by the University of Michigan. The preliminary consumer sentiment index for February increased to 66.4 from 64.9 in January, the university reported Friday. That’s the best
Continue Reading By Nicole Goodkind, CNN A Valentine’s Day surprise doesn’t usually include egg and gas prices, but the heart wants what the heart wants, and Wall Street is entranced by January’s Consumer Price Index. What’s happening: Investors will get some market direction clarity on Tuesday morning with the release of key inflation data. And though consumer
Continue Reading By Brian Fung, CNN The Securities and Exchange Commission has reached a $30 million settlement with the cryptocurrency platform Kraken that will force it to unwind a program offering investment returns to US users who committed their digital assets to the company. That practice, known as “staking,” reflected an unregistered offer and sale of securities,
Continue Reading By Brian Fung, CNN The Securities and Exchange Commission has reached a $30 million settlement with the cryptocurrency platform Kraken that will force it to unwind a program offering investment returns to US users who committed their digital assets to the company. That practice, known as “staking,” reflected an unregistered offer and sale of securities,
Continue Reading By Jackie Wattles and Kristin Fisher, CNN SpaceX just attempted to ignite all 33 engines in a test fire of its gargantuan Super Heavy rocket booster. The trial marks the company’s first “static fire” test for what is expected to be the most powerful launch vehicle ever built. The Super Heavy booster started its engines
Continue Reading By Jordan Valinsky, CNN Watching Super Bowl LVII in person will be cheaper than last year’s game, but it will still cost you thousands of dollars. StubHub said that the average price customers are paying for a ticket Thursday was $6,800. The cheapest seats to Sunday’s match up between the Philadelphia Eagles and Kansas City
Continue Reading By Nicole Goodkind, CNN Companies have been eager to please Wall Street in what has so far been a lackluster earnings season by repurchasing shares and boosting dividends for shareholders. What’s happening: Buyback announcements reached a new record of $1.22 trillion last year, and they’re already on track to beat that high in 2023. Companies
Continue Reading By Jordan Valinsky, CNN Adidas’ breakup with Ye, formerly known as Kanye West, is a pricey one. The company warned Thursday that it’s expected to lose $1.3 billion (1.2 billion euro) in revenue this year because it’s unable to sell the designer’s Yeezy clothing and shoes. Adidas ended its nine-year partnership with the rapper last
Continue Reading By Nathaniel Meyersohn, CNN The sports gambling gold rush is coming at a high cost. In 2018, the Supreme Court struck down a federal ban on commercial sports betting in most of the country. Thirty-three states have made sports gambling legal in the wake of the decision. Now, on Super Bowl Sunday, a record 50.4
Continue Reading By Julia Horowitz, CNN When US President Joe Biden signed the Inflation Reduction Act into law, he enacted the biggest climate investment in American history — a landmark moment for a nation that pumps more carbon into the atmosphere than any country bar China. “Our Department of Energy estimates that the new law will reduce
Continue Reading By Anna Cooban and Radina Gigova, CNN Russia will cut crude oil production by half a million barrels per day starting in March, a little over two months after the world’s major economies imposed a price cap on the country’s seaborne exports. “We will not sell oil to those who directly or indirectly adhere to
Continue Reading By Olesya Dmitracova and Rob North, CNN The UK economy flatlined in the last quarter of 2022, meaning that it just managed to avoid falling into a recession. But the outlook for this year is much worse. Gross domestic product (GDP) had fallen 0.2% in the July-September quarter, and two consecutive quarters of contraction would
Continue Reading By Danielle Wiener-Bronner, CNN Coca-Cola is releasing a new limited-edition flavor, Coca-Cola Move, in collaboration with Grammy-award winning singer RosalÃa. As with its other high-concept flavors, Coca-Cola isn’t sharing what Move is actually supposed to taste like. Like Starlight, Byte and Dreamworld before it, Move doesn’t have a traditional flavor, such as cherry. Instead, the
Continue Reading By Danielle Wiener-Bronner, CNN Coca-Cola is releasing a new limited-edition flavor, Coca-Cola Move, in collaboration with Grammy-award winning singer RosalÃa. As with its other high-concept flavors, Coca-Cola isn’t sharing what Move is actually supposed to taste like. Like Starlight, Byte and Dreamworld before it, Move doesn’t have a traditional flavor, such as cherry. Instead, the
Continue Reading By Yoonjung Seo and Michelle Toh, CNN HYBE, the management agency behind superstar boy band BTS, will become the biggest shareholder of its K-pop rival, SM Entertainment. The move strengthens HYBE’s dominance in South Korea’s music industry, where it is already the biggest player, even as it seeks to expand abroad. The South Korean entertainment
Continue Reading By Oliver Darcy, CNN President Joe Biden has not yet committed to a pre-Super Bowl interview with Fox News, a person at the channel familiar with the matter said, a move that suggests the Democrat may buck the tradition of granting the network broadcasting the big game an interview. “We don’t have a formal no,
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