By Paul R. La Monica, CNN Business So much for a year-end Santa Claus rally? The broader market has pulled back in the past week as worries about the Omicron variant of Covid-19 have rattled investors’ confidence. These latest coronavirus concerns have traders wondering if this is finally the end of the long running bull
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By Paul R. La Monica, CNN Business Fears about the Omicron variant of Covid-19 rattled the world’s financial markets Friday and early Monday morning. But shares of the major coronavirus vaccine makers were getting a boost from the latest pandemic jitters. Moderna soared more than 20% during Black Friday’s abbreviated session of trading on Wall
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By Brian Fung, CNN Business Jack Dorsey, the cofounder and public face of Twitter, will step down from his role as CEO, effective immediately, the company announced Monday. Dorsey will remain a member of Twitter’s board until at least next year. Parag Agrawal, Twitter’s chief technology officer, will take over as CEO. “I’ve decided to
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By Peter Valdes-Dapena, CNN Business Bugatti, the French manufacturer of $3 million supercars, is over a century old. But now it faces what may be the most difficult maneuver it has ever had to carry out: transitioning to an electric future. The man now taking the wheel at Bugatti is Mate Rimac, a 33-year-old Bosnian-born
Continue Reading By Peter Valdes-Dapena, CNN Business Bugatti, the French manufacturer of $3 million supercars, is over a century old. But now it faces what may be the most difficult maneuver it has ever had to carry out: transitioning to an electric future. The man now taking the wheel at Bugatti is Mate Rimac, a 33-year-old Bosnian-born
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By Jordan Valinsky, CNN Business Fans have noticed that an episode of the Simpsons that features a scene in Tiananmen Square is missing from Disney+ in Hong Kong. In the 2005 episode “Goo Goo Gai Pan,” the family travels to China to adopt a baby. The Simpsons clan stops in Beijing’s Tiananmen Square where they
Continue Reading By Jordan Valinsky, CNN Business Fans have noticed that an episode of the Simpsons that features a scene in Tiananmen Square is missing from Disney+ in Hong Kong. In the 2005 episode “Goo Goo Gai Pan,” the family travels to China to adopt a baby. The Simpsons clan stops in Beijing’s Tiananmen Square where they
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By Julia Horowitz, CNN Business Wall Street despises uncertainty. The less information investors have, the harder it is to make decisions about how to position for the future. Unfortunately, this is an example of peak ambiguity. Traders have been left in the lurch as the world rushes to respond to the discovery of the new
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Opinion by Joseph Stiglitz and Lori Wallach for CNN Business Perspectives If international organizations are subject to karma, last week’s abrupt postponement of the World Trade Organization (WTO) Ministerial Conference, the body’s first major decision-making gathering in four years, was fated to be. News of the emergence of Omicron, the latest coronavirus variant, not only
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Opinion by Jen Easterly for CNN Business Perspectives Cyber Monday is here, and while millions of Americans will be looking for the best deals the internet has to offer, cyber criminals will be hard at work looking to target online shoppers. The holiday shopping season is a prime opportunity for bad actors to take advantage
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By Michelle Toh and Mark Thompson, CNN Business Stocks in Asia fell on Monday while European markets and US futures edged higher as investors continued to digest news about a new Covid-19 variant. Japan’s Nikkei 225 closed down about 1.6%, while Hong Kong’s Hang Seng Index fell nearly 1%. European markets rebounded slightly from heavy
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. Friday’s satirical headline by The Onion said it best: “Nation Nearly Strings Together 3 Good Days In Row.” The blessing of Thanksgiving on Thursday was followed by a curse on
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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. One of President Biden’s many fights right now is a fight against perceptions: Of economic peril, a never-ending pandemic, and his own political weakness. In recent speeches, he is issuing
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By Ramishah Maruf, CNN Business The Ahmaud Arbery trial may not have happened without Larry Hobbs, a writer and reporter at The Brunswick News in Georgia. “Every national and global news story begins locally, sometimes with a single reporter who’s determined to follow up and get to the truth,” CNN’s chief media correspondent Brian Stelter
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Reuters Singapore-based virtual currency exchange Coinstore has begun operations in India at a time when the Indian government is preparing legislation to effectively bar most private cryptocurrencies. Coinstore has launched its web and app platform and plans branches in Bangalore, New Delhi and Mumbai which will act as its base in India for future expansion,
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By Ramishah Maruf, CNN Business Amid shortages, Canada is tapping into its strategic reserves. This time, for maple syrup. The Quebec Maple Syrup Producers said it is releasing roughly 50 million pounds from its strategic maple syrup reserves, the trade group confirmed to CNN Business. That’s almost half of the stockpile. The government-supported organization, which
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By Julia Horowitz, CNN Business More than 20 months into the pandemic, the US job market has reached a milestone. What’s happening: Weekly claims for unemployment benefits fell to 199,000 last week after seasonal adjustments, their lowest level since 1969. They hit a peak of 6.15 million in April 2020. So, does that mean employment
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By Nathaniel Meyersohn, CNN Business Video by Sofia Barrett, CNN Business The supply chain crisis means last-minute gift buyers may have little choice but to go shopping the old-fashioned way this holiday season. High demand, combined with supply chain delays, materials’ shortages and troubles hiring workers, are shrinking the availability of items both online and
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by Nathaniel Meyersohn, CNN Business Many Americans are shopping small Saturday to support mom-and-pop clothing, toy, furniture, sporting goods, hardware and electronics’ stores. But this year’s Small Business Saturday promotion is unlikely to change the fortunes of independent shops in America, which have diverged dramatically from their larger rivals. Small retailers have been squeezed out
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By Hannah Ryan, CNN When people think of artificial intelligence, the images that often come to mind are of the sinister robots that populate the worlds of “The Terminator,” “i, Robot,” “Westworld,” and “Blade Runner.” For many years, fiction has told us that AI is often used for evil rather than for good. But what
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