By Diksha Madhok, CNN Business India’s Gautam Adani has overtaken his fellow countryman Mukesh Ambani to become the wealthiest person in Asia, according to Bloomberg’s list of the world’s richest people. The 59-year-old founder of Adani Group controls companies ranging from ports and aerospace to thermal energy and coal, and now has a net worth
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By Rhea Mogul and Esha Mitra, CNN Business The editor of an independent news website in Kashmir has been arrested as police investigate if he violated India’s sedition and anti-terrorism laws. Fahad Shah, founding editor of The Kashmir Walla, was arrested Friday in Pulwama, a city in the Indian-administered part of Kashmir. The contested territory
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The Boonville Police Department warned the public Monday about people receiving calls from a local or well-known phone number claiming to be Amazon.
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By Sonia Moghe, CNN James Bennet, former head of the New York Times editorial section who is being sued along with the paper by Sarah Palin for defamation is expected to take the witness stand Tuesday, an attorney for Palin said in court. Multiple other Times staffers testified Monday about their roles in the 2017
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By Clare Duffy, CNN Business Peter Thiel, one of Facebook’s longest-serving and most controversial board members, plans to step down from the company’s board later this year, the company said Monday. Thiel, an early investor in Facebook, has served on the board of the company, now known as Meta, since 2005, one year after the
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By Isabelle Jani-Friend and Angela Dewan, CNN Amazon, Google, Ikea and BMW are among some of the world’s biggest companies failing to meet their own proclaimed climate targets and align with international agreements to slash greenhouse gas emissions, a new report claims. The Germany-based NewClimate Institute assessed the climate strategies of 25 major companies and
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By Rachel Metz, CNN Business The Internal Revenue Service is halting a plan that would have required taxpayers to verify their identities with facial recognition software before signing on to its website following backlash from lawmakers and privacy groups. The IRS said in a statement Monday that it will “transition away from using a third-party
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By Matt Egan, CNN Business California Democratic Congressman Ro Khanna is shrugging off potential antitrust issues in the proposed $6.6 billion merger of low-cost carriers Spirit and Frontier Airlines. But he does have one other big concern. “Look, the DOJ should review it,” Khanna told CNN in a phone interview Monday. “But having flown Spirit
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By Anna Bahney, CNN Business How tough is it to afford a home in this wild housing market? A lot depends on how much you earn and how many houses are for sale where you live. Record high prices and record low inventory are creating an affordability crisis for homebuyers, according to a new report
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By Brian Fung, CNN Business Amazon is dramatically increasing salary caps for its US-based technology and corporate workforce, in a nod to how the pandemic has exacerbated an already fierce competition for talent nationwide. The e-commerce and cloud computing giant announced in an internal blog post Monday that the company’s maximum base pay in the
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By Peter Valdes-Dapena, CNN Business Ford shares were down about 1% in trading Monday after the company announced it is suspending or slowing production at several of its North American factories this week due to short supplies of computer chips. Ford is stopping production at its Chicago Assembly plant, which builds Ford Explorer and Lincoln
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By Paul R. La Monica, CNN Business Kids had plenty of Spider-Man, My Little Pony and Peppa Pig toys from Hasbro under the tree during the 2021 holidays. But Hasbro is warning that continued supply chain woes could be a problem going forward. In the fourth quarter, the toy maker found it took three times
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By Paul R. La Monica, CNN Business If you’ve been hurt by the volatile moves in bitcoin lately, you’re in good company. Tesla, run by the world’s richest person, Elon Musk, has been hit by the crypto craziness too. The EV maker disclosed in its annual report to the Securities and Exchange Commission that it
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By Julia Horowitz, CNN Business Politicians are under huge pressure to fight inflation as a rapid uptick in prices hits consumers’ wallets and offsets wage hikes. That could fuel a tougher stance from regulators on mergers, as leaders like US President Joe Biden try to show they’re on the side of anxious voters. “This administration,
Continue Reading Opinion by Christopher Leonard for CNN Business Perspectives Even the smartest Wall Street investors don’t know if markets will be up or down tomorrow, but they do seem to agree on one thing: The coming year will be a wild and dangerous ride. The roller coaster is already underway. Over the course of one day,
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By Chris Isidore, CNN Business Spirit and Frontier Airlines on Monday announced a $6.6 billion merger, a combination of low-fare carriers that would create America’s fifth-largest airline. The companies have yet to say what brand they’ll fly under or who would lead management of the new airline. The combined company would offer more than 1,000
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By Julia Horowitz, CNN Business Peloton has a target on its back. The company’s exercise bikes were a huge hit early in the pandemic. Now, it’s struggling to maintain its growth as people spend more time outside their homes — and would-be buyers are circling. What’s happening: Peloton’s stock gained 17% on Monday following reports
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By Michelle Toh, Nectar Gan, and CNN’s Beijing bureau, CNN Business “Fight Club” is almost back to its original state in China. As of Monday, the film’s ending has largely been restored on the popular Chinese streaming platform Tencent Video, after fans complained in late January about the complete removal of the iconic final scene.
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By Oliver Darcy, CNN Business Daniel Ek, the chief executive of Spotify, addressed Joe Rogan’s past use of racial slurs on Sunday night, telling staff in a memo that while he found the comments “incredibly hurtful” and inconsistent with company values, he did not believe “silencing” the podcaster was the answer. Ek’s comments come as
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By Ramishah Maruf, CNN Lawmakers are trying to find a solution to two intertwined trends: the rise of Big Tech and the decimation of local news. Sen. Amy Klobuchar chaired a hearing on Capitol Hill last week to address the challenge, and is advancing legislation that would attempt to give local news outlets more leverage
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