By Paul R. La Monica, CNN Business This summer has long been forecast as a potential boom time for the travel industry. Retailers and economists have been talking a lot about how consumers are starting to buy less stuff and are instead spending more on vacations and other experiences. But that’s not the story the
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By Danielle Wiener-Bronner, CNN Business First Coca-Cola cut Tab, Odwalla and Zico coconut water. Now, Honest Tea is getting axed. “The Honest teas product line will be phased out of The Coca-Cola Company’s beverage portfolio at the end of 2022,” the company said in a statement Monday, noting that the Honest Kids line, which is
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By Anna Bahney, CNN Business The double punch of high home prices and rising mortgage rates took a toll on sales of newly constructed homes in April. New home sales fell by 16.6% in April from March and were down 26.9% from a year ago, according to a joint report from the US Department of
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By Brian Stelter, CNN Business “It’s like the O.J. Simpson trial but with technology.” That’s what Autumn Witbeck, a stay-at-home mother in Utah, told the Wall Street Journal while explaining the public’s fascination with the Johnny Depp-Amber Heard trial. The Journal wrote an entire story about the hairstyles on display in the courtroom — which
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By Kathryn Vasel, CNN Business Millions of employees started working remotely after the pandemic first took hold in 2020. But now, more people are returning to the office — and they’re being greeted by much higher prices for just about everything. Food. Commuting. Daycare. Rising gas prices and soaring inflation have made going back to
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By Paul R. La Monica, CNN Business Wall Street was not in a particularly social mood Tuesday. Social media stocks plummeted following an ominous earnings warning from Snapchat’s parent company. Shares of Snap plunged more than 40% Tuesday and hit their lowest level since March 2020, just after the Covid-19 pandemic hit the United States.
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By Anna Cooban, CNN Business Brits are bracing for another huge hike in their energy bills, and pressure is mounting on the UK government to impose a windfall tax on big suppliers to offset some of the pain. The head of Ofgem, the United Kingdom’s energy regulator, said on Tuesday that annual bills for millions
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By Brian Fung, CNN Key parts of a Florida law restricting social media platforms’ ability to moderate content likely violate the First Amendment, a federal appeals court ruled Monday, in a victory for the tech industry amid a wider battle over digital speech. The opinion by a three-judge panel in the Eleventh Circuit Court of
Continue Reading By Brian Fung, CNN Key parts of a Florida law restricting social media platforms’ ability to moderate content likely violate the First Amendment, a federal appeals court ruled Monday, in a victory for the tech industry amid a wider battle over digital speech. The opinion by a three-judge panel in the Eleventh Circuit Court of
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Opinion by Mark Wolfe for CNN Business Perspectives In March, the US Department of Commerce opened an investigation to determine if four countries that supply the US with solar panels — Cambodia, Malaysia, Thailand and Vietnam — have been using components made in China that should be subject to US tariffs. If the Commerce Department
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By Allison Morrow, CNN Business One of the many buzzwords percolating around Davos this week is “fragmentation,” the force economists there warned could have “devastating human consequences.” By “fragmentation,” they are referring to a breakdown of the kind of free-wheeling, border-crossing trade and investment that’s defined the global economic order over the past three decades.
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By Rachel Metz, CNN Business Cher Scarlett, a software engineer, has a history of being misidentified by face-scanning technology, including one instance that may have surfaced a distant ancestor in a photo. So when she was introduced to an online facial-recognition tool she hadn’t heard of, she wanted to see whether it would mistake photos
Continue Reading By Rachel Metz, CNN Business Cher Scarlett, a software engineer, has a history of being misidentified by face-scanning technology, including one instance that may have surfaced a distant ancestor in a photo. So when she was introduced to an online facial-recognition tool she hadn’t heard of, she wanted to see whether it would mistake photos
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By Rachel Metz, CNN Business Since launching in five US cities in 2007, Google’s Street View cars have been circling the globe, using roof-mounted cameras to map more than 10 million miles of imagery — pictures that have been stitched together to build a visual map of much of the world. Yet while these cameras
Continue Reading By Rachel Metz, CNN Business Since launching in five US cities in 2007, Google’s Street View cars have been circling the globe, using roof-mounted cameras to map more than 10 million miles of imagery — pictures that have been stitched together to build a visual map of much of the world. Yet while these cameras
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By Michelle Toh, CNN Business Samsung on Tuesday outlined a plan to pour more than $350 billion into its businesses and create tens of thousands of new jobs over the next five years. Despite an uncertain economic environment exacerbated by long-running supply chain issues and the war in Ukraine, the South Korean conglomerate said that
Continue Reading By Michelle Toh, CNN Business Samsung on Tuesday outlined a plan to pour more than $350 billion into its businesses and create tens of thousands of new jobs over the next five years. Despite an uncertain economic environment exacerbated by long-running supply chain issues and the war in Ukraine, the South Korean conglomerate said that
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By Reuters Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off. Since late April, “the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will report revenue
Continue Reading By Anna Cooban, CNN Business Brits are bracing for another huge hike in their energy bills, and pressure is mounting on the UK government to impose a windfall tax on big suppliers to offset some of the pain. The head of Ofgem, the United Kingdom’s energy regulator, said on Tuesday that annual bills for millions
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Experts are sounding alarms that the U.S. economy and perhaps much of the globe could be headed toward a recession.
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