By Paul R. La Monica, CNN Business Stocks tumbled sharply in January and the market has remained choppy in February. There are worries globally about earnings, inflation, interest rates and Omicron. But some market experts think investors shouldn’t be too concerned. Why? Volatility is normal. And market corrections, defined as a 10% pullback from a
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By Parija Kavilanz, CNN Business Frustrated shoppers are already dealing with unpredictable product shortages and empty shelves at their favorite grocery stores. But if they’re hoping to pivot to a neighborhood convenience store to fill in some everyday necessities, they might be out of luck there, too. Convenience stores typically serve as an ideal substitute
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By Swati Gupta, CNN Lata Mangeshkar, the “nightingale of India” who gave her voice to Indian movies for more than 70 years, was honored at a state funeral Sunday, after she passed away at the age of 92. “Lata Di died at 8:12 a.m. due to multi-organ failure after over 28 days of Covid-19 diagnosis,”
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By Ramishah Maruf and Brian Stelter, CNN Joe Rogan issued an apology on Instagram Saturday after a compilation of the podcaster frequently using the n-word on his podcast spread widely on social media. Rogan used the word more than 20 times in the clips from different podcast episodes, which he said were compiled over a
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Reuters Peloton Interactive Inc has drawn interest from potential buyers including e-commerce giant Amazon, according to a person familiar with the matter, as the exercise bike maker struggles to maintain pandemic-fueled growth. Shares of Peloton surged 30% in extended trading on the news, which comes days after activist investor Blackwells Capital urged the company’s board
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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
Continue Reading By Ramishah Maruf and Brian Stelter, CNN Joe Rogan issued an apology on Instagram Saturday after a compilation of the podcaster frequently using the n-word on his podcast spread widely on social media. Rogan used the word more than 20 times in the clips from different podcast episodes, which he said were compiled over a
Continue Reading By Ramishah Maruf and Brian Stelter, CNN Joe Rogan issued an apology on Instagram Saturday after a compilation of the podcaster frequently using the n-word on his podcast spread widely on social media. Rogan used the word more than 20 times in the clips from different podcast episodes, which he said were compiled over a
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By Alicia Wallace, CNN Business As America seeks to train workers for the hundreds of thousands of new infrastructure jobs that are being created, it will have to lean heavily on community colleges. But these workhorses of workforce development are facing some infrastructure issues of their own. Pandemic-related declines in enrollment, particularly in hands-on skilled
Continue Reading By Alicia Wallace, CNN Business As America seeks to train workers for the hundreds of thousands of new infrastructure jobs that are being created, it will have to lean heavily on community colleges. But these workhorses of workforce development are facing some infrastructure issues of their own. Pandemic-related declines in enrollment, particularly in hands-on skilled
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By Jackie Wattles Video by Gabe Ramirez Tim Ellis, an unassuming 31-year-old with glasses who shuffles around his sprawling rocket factory in designer sneakers, has what every space company founder longs for: a seemingly endless well of investors willing to pour money into his company. Relativity Space, the rocket startup Ellis co-founded in 2015 after
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By Jackie Wattles, CNN Business Up to 40 of SpaceX’s Starlink satellites are expected to fall out of orbit thanks to some inopportune timing: The company launched the satellites directly into a solar storm. A batch of 49 Starlink internet satellites were on SpaceX’s latest launch on February 3, and now the company is expecting
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By Nathaniel Meyersohn, CNN Business Costco’s Kirkland Signature brand is perhaps America’s weirdest private label. You can put Kirkland Signature AA batteries alongside Kirkland Signature cashews in your shopping cart. It’s also shockingly successful. Kirkland raked in $58 billion in sales during Costco’s latest fiscal year, making up around a quarter of the company’s total
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By Esha Mitra, CNN Her hair was cut off and her face painted black before she was paraded into the street where some people in a cheering crowd called for her to be raped. But perhaps the most shocking aspect of the attack in a Delhi neighborhood last month is that video shared on social
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Opinion by Emily Parker for CNN Business Perspectives China’s digital yuan is poised to make its debut on the global stage this week, with foreign athletes and others at the Beijing Olympics able to use it for the first time. People can access digital yuan via an app on their smartphone, for example, but it’s
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By Rachel Metz, CNN Business Meta, the parent company of Facebook, has a new feature aimed at cutting down on harassment and assault in virtual reality: It will give avatars in its Horizon Worlds social app and Horizon Venues events app an invisible “personal boundary” of four feet to stop others from getting too close.
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By Matt Egan, CNN Business January’s shockingly strong jobs report suggests the US economy is healthy enough to withstand the Federal Reserve’s plans to raise interest rates in the coming months, former Obama economist Austan Goolsbee told CNN on Friday. “We had an honest-to-God blockbuster positive surprise of a job report. Hopefully, it’s a sign
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By Chris Isidore, CNN Business Employers added a record 6.6 million jobs during Joe Biden’s first 12 months in office, by far the strongest record of any president’s first year in office. The unexpected strength of the January jobs report — along with some revisions in readings for November and December — pushed Biden over
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By Allison Morrow, CNN Business The Labor Department’s monthly jobs report can be hard to interpret, especially as Covid has blown up analysts’ models that measure the economy. But the January report, released Friday, is one to pay attention to. The headline result — 467,000 jobs added last month — came in far better than
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By Anna Bahney, CNN Business Manhattan real estate is back and it is booming. In 2021, prices were near record highs and sales were higher than they’d been in more than three decades. The Big Apple was hit hard at the beginning of the pandemic. Prices dropped and sales activity slowed. But Manhattan came back
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