By Ramishah Maruf, CNN Business PricewaterhouseCoopers, the accounting and consulting giant, will allow all its 40,000 US-based service employees to work virtually from anywhere in the United States, the company confirmed to CNN Friday. The company said this is the first announcement of its kind from a professional services firm in the US, marking a
Continue Reading By Bridget O’Brian and Ramishah Maruf, CNN Business Tesla said Saturday that it produced 237,823 vehicles in its third quarter and delivered 241,300, more than double the number of vehicles for the same period a year ago. In the 2020 third quarter, the company produced 145,036 vehicles and sold 139,300. That 64% increase in production
Continue Reading By Rishi Iyengar and Sara Ashley O’Brien, CNN Business The trial of Theranos founder Elizabeth Holmes concluded its fourth week on Friday, with the lengthiest witness testimony of the trial so far. That testimony has come from former Theranos lab director Adam Rosendorff, who has been on the stand for four days and will continue
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By Ramishah Maruf, CNN Business Bill Gross, billionaire and the ‘bond king,’ was found guilty in contempt of court for tormenting his California neighbors by blasting music — again. Orange County Superior Court Judge Kimberly Knill ruled that Gross and his wife, Amy Gross, violated a 2020 order that prohibited the couple from playing loud
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By Rachel Metz, CNN Business One mid-September evening in 2018, Joel Cusick found himself pointing a laser scanner at the butt of a bear named Otis. Cusick was taking a break from work, standing on a platform along the Brooks River in Alaska’s Katmai National Park and Preserve — a world-famous spot for bear watching,
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By Alexis Benveniste, CNN Business Companies like Beyond Meat Inc and Impossible Foods are seeing strong sales. Earlier this year, Target launched its own line of 30 vegan food options. Even giant Tyson Foods Inc is getting in on the act with its recent introduction of vegan bratwurst and burger patties. Plant-based meat sales are
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By Parija Kavilanz, CNN Business Surging shopper demand coupled with shipping container shortages and bottlenecks at ports have already triggered tighter supply of products, from cars to shoes. In particular, some of America’s biggest sellers of clothing and shoes cite one catalyst that has compounded the pressure: factory closures in Vietnam stemming from a second
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By Kerry Flynn, CNN Business Ozy Media announced on Friday that it will cease operations. The decision comes five days after the The New York Times published a bombshell report about its business practices, which kicked off additional scrutiny from other media outlets. “At Ozy, we have been blessed with a remarkable team of dedicated
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By Sara Ashley O’Brien, CNN Business Pulitzer Prize-winning reporter John Carreyrou is responsible for breaking open the story of Theranos six years ago, prompting broader scrutiny into blood testing startup that would land its CEO and founder Elizabeth Holmes in a federal courtroom over criminal fraud charges. Perplexingly, Carreyrou’s name is among dozens of possible
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By Frank Pallotta, CNN Business Scarlett Johansson vs. Disney is over. On Thursday, the actress and Disney resolved their dispute over the lawsuit that Johansson filed against the company in July. The lawsuit alleged Disney breached her contract by releasing “Black Widow,” a Marvel film starring the actress, on Disney+ on the same day it
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By Jackie Wattles, CNN Business A group of 21 current and former employees at Blue Origin, the rocket company founded by Jeff Bezos, co-signed an essay speaking out against what they describe as a toxic workplace where “professional dissent” is “actively stifled,” and certain male leaders routinely engage in sexist behavior. All but one of
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By Nathaniel Meyersohn, CNN Business The holiday season isn’t looking so merry for Dena Fargo this year. Her best-selling toy, a multi-colored, smiling stuffed animal called Snowcone the Happy Unicorn, won’t make it to eager parents and kids this year. Fargo, who imports Snowcone from a manufacturer in China, paid $1,300 in May for 500
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By Matt Egan Fitch Ratings warned Friday that the fight in Washington over raising the debt ceiling could force the firm to downgrade America’s AAA credit rating. “The failure of the latest efforts to suspend the U.S. federal government’s debt limit indicates that the current stand-off could be among the most protracted since 2013,” Fitch
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By Anna Bahney, CNN Business The housing market has recently cooled from white hot to merely red hot. But it’s still a great time to get top dollar on a home, even one that needs a little work. Or one that is a charred shell of a house. That’s the case with a home outside
Continue Reading By Anna Bahney, CNN Business The housing market has recently cooled from white hot to merely red hot. But it’s still a great time to get top dollar on a home, even one that needs a little work. Or one that is a charred shell of a house. That’s the case with a home outside
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By Chris Isidore, CNN Business New car sales plunged over the last three months in the United States despite strong demand, as the shortage of computer chips and other supply chain issues caused shutdowns at auto factories and choked off the supply of vehicles. General Motors reported sales fell a third from a year-ago last
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By Matt Egan Fitch Ratings warned Friday that the fight in Washington over raising the debt ceiling could force the firm to downgrade America’s AAA credit rating. “The failure of the latest efforts to suspend the U.S. federal government’s debt limit indicates that the current stand-off could be among the most protracted since 2013,” Fitch
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By Moira Ritter, CNN Business Low-wage workers are making “eye-popping” gains in their paychecks, according to Goldman Sachs. The bank told clients in a note Thursday that low-wage-worker pay rose 5.3% year-over-year in the second quarter. For the third quarter, the data isn’t complete yet, but preliminary readings are on pace for a three-decade high
Continue Reading By Moira Ritter, CNN Business Low-wage workers are making “eye-popping” gains in their paychecks, according to Goldman Sachs. The bank told clients in a note Thursday that low-wage-worker pay rose 5.3% year-over-year in the second quarter. For the third quarter, the data isn’t complete yet, but preliminary readings are on pace for a three-decade high
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By Frank Pallotta, CNN Business An alien symbiote, cinema’s most famous spy, its most infamous masked murderer and a film adaptation of one of the most beloved science fiction novels of all time. That sums up the lineup at the box office in October — a vital month for the movie theater industry since it
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