By Chris Isidore, CNN Business Only a year ago almost no one paid the full sticker price when buying a new car. Now you’re lucky if you can. In perhaps the most striking sign of the change in new car pricing, 80% of new car buyers in January paid more than manufacturer’s suggested retail price,
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By Nathaniel Meyersohn, CNN Business Heinz has been linked to the number 57 for more than a century. The company’s “57 varieties” slogan was a key part of its early strategy to attract consumers. It’s still featured on Heinz ketchup bottles today and is central to the brand’s identity. But that famous number is completely
Continue Reading By Nathaniel Meyersohn, CNN Business Heinz has been linked to the number 57 for more than a century. The company’s “57 varieties” slogan was a key part of its early strategy to attract consumers. It’s still featured on Heinz ketchup bottles today and is central to the brand’s identity. But that famous number is completely
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By Jennifer Korn and Vanessa Yurkevich, CNN The fire on board the large car-carrying cargo ship Felicity Ace could soon be extinguished because there might not be anything left to burn. The 656 foot-long Felicity Ace roll-on/roll-off car-carrying ship caught fire in the North Atlantic last Wednesday as it carried around 4,000 vehicles, including Porsches,
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By Karol Suarez and Abel Alvarado The United States is resuming its avocado inspection program in Mexico’s Michoacán state a week after imposing a temporary ban in response to a US inspector receiving a death threat. The Department of Agriculture’s Animal and Plant Health Inspection Service said Friday that it was working closely with Mexican
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By Anneken Tappe, CNN Business The labor shortage has been a defining feature of the pandemic job market and it’s not getting better any time soon. But there is a whole group of workers who are being overlooked even though they could be part of the solution. Criminal records are keeping certain workers from finding
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By Nathaniel Meyersohn, CNN Business Expect to see more bright-red “Rollback” signs at Walmart stores as inflation bites, the company said Thursday. Rollbacks, or temporary price reductions on an item, are Walmart’s version of a sale. Walmart decides which products to drop prices on based on factors like discounts it receives from suppliers or excess
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By Paul R. La Monica, CNN Business The Super Bowl was a bonanza for the gambling business thanks to new customers from New York, which recently legalized sports betting. But now comes the hard part for companies like DraftKings and FanDuel. Betting upstarts need to spend big bucks to attract new users — but like
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By Frank Pallotta, CNN Business After swinging through New York City as Spider-Man, Tom Holland returns this weekend with another film that has him dangling from great heights. This time he does so as adventurer and video game mainstay Nathan Drake. “Uncharted” — based on a best-selling Sony video game — hopes to use Holland’s
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By Anna Bahney, CNN Business Home prices climbed in January as inventory fell to a new record low. The median price for a home last month was $350,300, up 15.4% from a year ago, according to the National Association of Realtors. It was not the highest median price on record, which was $362,800 last June,
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By Clare Duffy, CNN Business It has been about two decades since Microsoft and the US government went head-to-head in one of the country’s biggest-ever antitrust battles. In the years since, Microsoft has managed to mostly stay off the radars of lawmakers and antitrust regulators, even as scrutiny of other tech giants has ramped up.
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By Julia Horowitz, CNN Business Gone are the days when bitcoin, ether and other cryptocurrencies could be thought of as a niche corner of financial markets. What’s happening: In a new report, the Financial Stability Board — an international body that brings together regulators from 24 countries and jurisdictions — said that the “fast evolving”
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By Chris Isidore, CNN Business Billionaire investor Chamath Palihapitiya, who was one of the executives to help take Virgin Galactic public, has stepped down as chariman of the company. The company didn’t say why Palihapitiya was leaving. Evan Lovell, the chief investment officer of Vigin Group, will take his place as interim chairman. Virgin Galactic,
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By Diksha Madhok, CNN Business Beijing said that it is “seriously concerned” about actions India has taken against Chinese companies this week, including banning apps. “Indian authorities have taken a series of repressive measures against Chinese companies and related products in India, which has seriously damaged the legitimate rights and interests of Chinese companies,” said
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By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Fox’s obsession with Hillary Clinton is only growing more fierce. The right-wing talk channel, which has in recent days dishonestly twisted a court filing from special counsel John Durham to
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By Michelle Toh, CNN Business The United States name-checked some of China’s biggest companies, including platforms operated by Tencent and Alibaba, for allegedly dealing in “counterfeit and pirated goods,” and added their businesses to its list of “notorious markets.” In an announcement on Thursday, the Office of the United States Trade Representative (USTR) said that
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By Rishi Iyengar and Michelle Toh, CNN Business US stocks slid Friday as investors continued to track geopolitical developments in Eastern Europe following Thursday’s steep selloff. The Dow closed down nearly 233 points, or 0.7%. The S&P 500 and Nasdaq Composite ended the day with losses of 0.7% and 1.2%. All three indexes finished the
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By Chris Isidore, CNN Business Consumer Reports took a decidedly more negative view of Tesla in this year’s rankings of vehicles. The Model 3, which had been its top pick among EV models, lost that distinction to the Ford Mustang Mach-E. The Model 3 now has the third best ranking among EVs, behind the Mach-E
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By Jennifer Korn An abandoned cargo ship packed with cars is adrift in the Atlantic Ocean, after a rapidly-spreading fire on board forced the crew to escape. The 656 foot-long Felicity Ace roll-on/roll-off car-carrying ship caught fire in the North Atlantic on Wednesday as it carried cargo, including Porsches and Volkswagens, from Emden, Germany to
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By Paul R. La Monica, CNN Business President Joe Biden and Secretary of State Antony Blinken believe a Russian invasion of Ukraine could happen in a matter of days. The news rattled investors, sending the Dow down 622 points, or 1.8%, Thursday. It was the worst day of the year for the index. Stocks dropped
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