By Laura He, CNN Business Car sales saw a record decline last month in China, the world’s largest automobile market, as strict Covid-19 lockdowns take a severe economic toll. And no auto maker suffered more than Tesla. The EV maker sold 1,512 vehicles in mainland China last month, down 98% from March, according to data
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By Swati Gupta and Rhea Mogul, CNN India’s top court on Wednesday ordered the temporary suspension of the country’s controversial sedition law, putting pressure on the government which has been accused of misusing it to stifle free speech. The colonial-era law will be paused until the government completes a review, the Supreme Court said. No
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By Parija Kavilanz, CNN Business Laura Modi is fielding dozens of emails, calls, and texts daily from anxious parents asking about how they can get baby formula. Modi is CEO and cofounder of Bobbie, a San Francisco-based direct-to-consumer seller and subscription service for organic milk-based baby formula that is produced in a Vermont facility and
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By Rishi Iyengar, CNN Business One of the video game industry’s most iconic franchises will soon look very different. Electronic Arts and its subsidiary EA Sports will end a three-decade partnership with FIFA — global soccer’s governing body — the gaming company announced on Tuesday. Starting next year, the hugely popular FIFA video game franchise
Continue Reading By Parija Kavilanz, CNN Business Laura Modi is fielding dozens of emails, calls, and texts daily from anxious parents asking about how they can get baby formula. Modi is CEO and cofounder of Bobbie, a San Francisco-based direct-to-consumer seller and subscription service for organic milk-based baby formula that is produced in a Vermont facility and
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By Clare Duffy, CNN Business In the days following the January 6 Capitol riot, Twitter became the first major social media platform to permanently suspend then-President Donald Trump for violating its rules against inciting violence. It was a huge step and one that instantly put pressure on other big platforms to take action. Within days,
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By Catherine Thorbecke, CNN Business Apple said Tuesday it would discontinue production of the last iPod model it still sells, effectively bringing an end to the iconic product line that helped usher in a new era for the music industry and the tech giant. Apple said customers can continue to purchase an iPod Touch device
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By Matt Egan, CNN Business Treasury Secretary Janet Yellen addressed the economic consequences of overturning Roe v. Wade on Tuesday during testimony before the Senate Banking Committee. “I believe that eliminating the right of women to make decisions about when and whether to have children would have very damaging effects on the economy and would
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By Brian Fung and Clare Duffy, CNN Business Elon Musk said Tuesday that he would restore former President Donald Trump’s banned account on Twitter if his deal to acquire the company is completed. Musk’s remarks at Financial Times’ Future of the Car conference mark his first public acknowledgment of what had been widely expected since
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By Matt McFarland, CNN Business Tesla recalled 129,960 vehicles this month to fix infotainment systems that may overheat before and during fast charging. Tesla says it is resolving the flaw with an over-the-air software update, which refreshes software wirelessly like a smartphone app update, making the recall less burdensome for Tesla and affected owners. Tesla
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By Alicia Wallace, CNN Business With daily life now the most expensive it’s been in 40 years, single parents say they are running out of places to cut costs. The price of groceries, gas, rent and utilities has marched higher over the past year; but wages have not kept up — and more than half
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By Paul R. La Monica, CNN Business Many investors, including Warren Buffett, are betting that higher crude oil prices are here to stay for a while. It’s a good wager, thanks to the spike in oil prices from about $75 a barrel at the end of last year to above $100 now. Nearly all of
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By Jorge Engels and Karol Suarez Three journalists have been killed in Mexico over the past week according to government officials. Two journalists were killed Monday in the Mexican state of Veracruz, according to the state’s prosecutor’s office, which said it had launched an investigation into the killings. Veracruz’s prosecutor’s office said on Twitter that
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By Frank Pallotta, CNN Business Netflix recently told employees that the the company’s new lower-priced ad tier may come by the end of the year, according to a report from the New York Times Tuesday. The company is struggling as streaming competition heats up: Shares plunged last month after Netflix reported its first quarterly subscriber
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Opinion by Evan Greer for CNN Business Perspectives It’s official: Elon Musk could soon become the king of Twitter. After agreeing to purchase his new crown for some $44 billion, Musk has promised big changes. In truth, no one really knows what Musk will do with Twitter if his bid succeeds. He could make it
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By Jordan Valinsky, CNN Business Kelly Ripa, co-host of “Live With Kelly and Ryan,” revealed that she recently tested positive for Covid-19, forcing her to miss some upcoming shows. Ripa made the announcement on Instagram late Monday, writing that she was diagnosed with the illness this past weekend. “I am taking all necessary precautions and
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By Matt Egan, CNN Business US Treasury Secretary Janet Yellen told lawmakers on Tuesday the Covid-19 pandemic and the war in Ukraine may continue to add turbulence to the world economy. “There is the potential for continued volatility and unevenness of global growth as countries continue to grapple with the pandemic,” Yellen said during a
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By Brian Fung, CNN The dating-app company behind Tinder, OkCupid and Match.com sued Google on Monday, alleging that the technology giant runs an illegal monopoly in the Google Play Store and that its in-app payment policies, including its 30% cut of some in-app purchases, are anticompetitive. The suit by Match Group is the latest antitrust
Continue Reading By Brian Fung, CNN The dating-app company behind Tinder, OkCupid and Match.com sued Google on Monday, alleging that the technology giant runs an illegal monopoly in the Google Play Store and that its in-app payment policies, including its 30% cut of some in-app purchases, are anticompetitive. The suit by Match Group is the latest antitrust
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By Beth Braverman It can be exciting to think about making a big purchase — like putting a down payment on a house, throwing your dream wedding reception, buying a new car or taking a bucket-list vacation. Less exciting: thinking about how to save up for it. But any major expense requires major planning. Taking
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