By Anneken Tappe, CNN Business It’s been a wobbly week on Wall Street and CNN Business’ Fear and Greed Index is flashing “Fear.” The stock market is in a weird place. It has fallen in most of the trading sessions this month. The S&P 500, which is the broadest measure of the US stock market,
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Opinion by Jennifer M. Granholm for CNN Business Perspectives The image of a collapsed electrical tower and power lines that Hurricane Ida tossed into the Mississippi River illustrated a fundamental challenge facing the nation: Our power systems weren’t built to withstand extreme weather events. Without major investments to reinforce, modernize and clean our grid, the
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By Julia Horowitz, CNN Business “Delta? What Delta?” That was the take from Ian Shepherdson, chief economist at Pantheon Macroeconomics, after seeing the data on US retail sales for August. What’s happening: Contrary to expectations, US retail sales increased last month as consumers continued to shell out on clothing, furniture and groceries. It’s a promising
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By Matt Egan, CNN Business In March 2020, the US economy faced the specter of a financial crisis and a full-blown depression as Covid-19 crippled American society. That nightmare scenario was avoided, in large part because of an unprecedented response from the federal government that included stimulus checks, small business loans and emergency credit programs.
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Story by Clare Duffy, CNN Business Video by John General, CNN Business As the Taliban entered Kabul last month, the team behind the crowdsourced news alert app Ehtesab deserted their office in the city. But they continued their work of providing Afghans with critical information, such as which roads were congested and where outbreaks of
Continue Reading Story by Clare Duffy, CNN Business Video by John General, CNN Business As the Taliban entered Kabul last month, the team behind the crowdsourced news alert app Ehtesab deserted their office in the city. But they continued their work of providing Afghans with critical information, such as which roads were congested and where outbreaks of
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By Diksha Madhok, CNN Business China has applied to join a major Asia-Pacific trade partnership that the United States ditched several years ago, as the world’s second largest economy tries to bolster its relationships in the region. Chinese Commerce Minister Wang Wentao applied for membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),
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By Michelle Toh, CNN Business The troubles of Chinese conglomerate Evergrande have dominated headlines after it warned once again that it could default on its astronomical debt because of a cash crunch. Experts have characterized the firm’s struggles as a major test for Beijing that risks turning into China’s Lehman Brothers moment, sending shockwaves across
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By Rishi Iyengar, CNN Business Microsoft has a solution for the familiar problem of needing to remember too many passwords: doing away with them altogether. The company announced Wednesday that it will introduce a “passwordless account” option for all users of several popular services such as Microsoft Outlook and Microsoft OneDrive in the coming weeks.
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By Jeanne Sahadi, CNN Business Maintaining a healthy environment during a pandemic without alienating employees and customers who don’t want to wear masks or get vaccinated has been a headache for small business owners. Although everyone has questions about how it will work, some were relieved by President Biden’s announcement last week that employers with
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By Brian Stelter, CNN Business Sony Pictures Television has bought itself some time to sort out its “Jeopardy!” mess. Mayim Bialik and Ken Jennings, who are both part of the game show’s television family, will host the show “through the end of the calendar year,” Sony said Thursday. This timing will give Sony executives at
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By Chris Isidore, CNN Business United Airlines has achieved a high level of compliance with the strict vaccine mandate it set for its 67,000 US employees. But the airline’s CEO doesn’t believe expanding that requirement to passengers is a good idea. United CEO Scott Kirby told CNN that about 90% of the company’s employees have
Continue Reading By Pete Muntean and Chris Isidore, CNN Business With just five days until United Airlines will start putting unvaccinated US employees on leave, the company says 97% of workers have complied with its mandate. “United will start the separation process as early as September 28,” confirmed spokesperson Leslie Scott, who noted that only a “small
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By Allison Morrow, CNN Business This week the Wall Street Journal released a series of scathing articles about Facebook, citing leaked internal documents that detail in remarkably frank terms how the company is not only well aware of its platforms’ negative effects on users but also how it has repeatedly failed to address them. There’s
Continue Reading By Allison Morrow, CNN Business This week the Wall Street Journal released a series of scathing articles about Facebook, citing leaked internal documents that detail in remarkably frank terms how the company is not only well aware of its platforms’ negative effects on users but also how it has repeatedly failed to address them. There’s
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By Matt Egan, CNN Business The implosion of Lehman Brothers, 13 years ago this week, showed how the collapse of a single entity can send shockwaves around the world. Echoes from that event are resounding today as a massive property developer on the other side of the world teeters on the brink of default. The
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By Matt McFarland, CNN Business Frustrated Tesla owners continue to wait for “full self-driving,” an expensive and long-delayed software feature that isn’t even guaranteed to help their cars’ resale values. Some of the company’s earliest backers of the “full self-driving” option are even beginning to lose faith in the promise of ever enjoying a truly
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By Hanna Ziady, CNN Business The United Arab Emirates will pour £10 billion ($13.8 billion) into the United Kingdom over the next five years, as the Gulf state seeks to diversify its economy beyond fossil fuels. The UK Office for Investment and UAE sovereign wealth fund Mubadala announced the investment in a statement on Thursday,
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By Kristin Fisher, CNN Business The four people aboard SpaceX’s Inspiration 4 mission flew higher than the International Space Station, but that still may not be enough to earn them their official commercial astronaut wings from the federal government. Astronaut wings don’t have any significance beyond their symbolic value, but they are quickly becoming the
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By Julia Horowitz, CNN Business After months of speculation, Piers Morgan has made his next move: teaming up with media mogul Rupert Murdoch. The controversial British TV personality said Thursday that he’s inked a deal with Murdoch’s News Corp and Fox News Media. He’ll launch a new TV show in early 2022, and will join
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