Opinion by Mark Zandi for CNN Business Perspectives The pandemic continues to call the shots for the economy. Each wave of the virus has done significant damage, with Omicron now hitting the economy hard. December retail sales slumped as households pulled back on spending, including travel, dining out at restaurants and attending Broadway shows. The
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By Samantha Murphy Kelly, CNN Business Many mobile device users in the United States now have access to blazing-fast internet speeds stemming from the rollout of Verizon and AT&T’s new C-band 5G networks earlier this week. While telecom companies have rolled out 5G networks to various locations across the country over the last few years,
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By Peter Valdes-Dapena, CNN Business If you want a Ford Maverick pickup but haven’t placed an order already yet, time’s running out. On Thursday, Ford will stop accepting any new retail orders for the 2022 model year Maverick, company spokesman Michael Levine said in an email. After that, buyers will have to wait until order
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By Julia Horowitz, CNN Business Uncertainty around the Federal Reserve’s plans just drove Wall Street to its worst week since the start of the pandemic. But it’s not the only reason traders are jittery. Investors are starting to tune in to the situation in Ukraine as fears grow that Russian President Vladimir Putin, who has
Continue Reading By Julia Horowitz, CNN Business Uncertainty around the Federal Reserve’s plans just drove Wall Street to its worst week since the start of the pandemic. But it’s not the only reason traders are jittery. Investors are starting to tune in to the situation in Ukraine as fears grow that Russian President Vladimir Putin, who has
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By Jordan Valinsky, CNN Business The knives are out for Peloton and CEO John Foley. Blackwells Capital, an activist investor that owns less than 5% of Peloton, says it has “grave concerns” about its performance and is calling on its board of directors to fire Foley immediately and explore a sale. In an open letter
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By Jordan Valinsky, CNN Business Krispy Kreme is giving away free doughnuts to help combat a nationwide blood shortage. This week, the chain will give away a dozen original glazed doughnuts to people that donated blood to the American Red Cross. The promotion comes after the organization recently announced that it’s dealing with the worst
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By Peter Valdes-Dapena, CNN Business Ford just unveiled the Bronco Raptor, a high-performance version of its off-road Jeep Wrangler competitor. Based on desert racing trucks, this version has more power, bigger tires and taller suspension than a standard Bronco’s for bounding across sand dunes at “highway speeds,” according to Ford. The Bronco Raptor is powered
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By Angus Watson, Jill Disis and Yong Xiong, CNN Business Australia has accused WeChat of taking down Prime Minister Scott Morrison’s account and redirecting his followers to a site that claims to provide information for Chinese Australians. The removal of the account was first confirmed Monday by James Paterson, chairman of Australia’s Parliamentary Joint Committee
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By Greg Wallace and Pete Muntean, CNN Business Washington is suspending more than three dozen flights from Chinese carriers over the next couple of months, the latest escalation in a spat over pandemic-related travel rules between the United States and China. On Friday, the US Transportation Department said it would suspend 44 China-bound flights operated
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By Ramishah Maruf, CNN Business It’s been a rough few weeks for Peloton. And to round it off, another TV show character experienced a heart attack on the interactive bike — this time (spoiler alert) it’s Mike Wagner (David Costabile) on the season 6 premiere of Showtime’s “Billions.” Last month, Peloton saw an 11% stock
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By Ramishah Maruf, CNN Business Former NBC sportscaster Bob Costas, who has covered 12 Olympic Games as a host and commentator, did not hold back when discussing the challenges journalists will face during the Beijing Winter Olympics next month. “The IOC deserves all of the disdain and disgust that comes their way for going back
Continue Reading By Ramishah Maruf, CNN Business Former NBC sportscaster Bob Costas, who has covered 12 Olympic Games as a host and commentator, did not hold back when discussing the challenges journalists will face during the Beijing Winter Olympics next month. “The IOC deserves all of the disdain and disgust that comes their way for going back
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By Chris Isidore, CNN Business As if consumers weren’t being squeezed enough by rising prices for a wide range of goods, this month’s blast of winter weather will mean that many Americans could face record high heating costs this year. Cold weather, ice and snow have blanketed much of the United States in recent days
Continue Reading By Chris Isidore, CNN Business As if consumers weren’t being squeezed enough by rising prices for a wide range of goods, this month’s blast of winter weather will mean that many Americans could face record high heating costs this year. Cold weather, ice and snow have blanketed much of the United States in recent days
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By Claudia Dominguez and Alaa Elassar, CNN SpaceX’s unmanned Dragon cargo ship successfully undocked from the International Space Station (ISS) Sunday morning and is making its return to Earth. The CRS-24 cargo ship successfully exited the Space Station’s “keep out sphere” at 10:40 a.m. after a previously scheduled attempt was postponed due to bad weather
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By Jordan Valinsky, CNN Business From M&Ms’ mascots becoming more inclusive to a bologna face mask, there was lots of wild food news this week. We’ve done the dutiful task of rounding it all up if you need a change of pace from the doom and gloom of all that other “news.” Here’s what happened:
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By Paul R. La Monica, CNN Business The Bank of England has already started to raise interest rates to fight inflation. The Federal Reserve is likely to follow soon. But how aggressive will America’s central bank be? Investors will be looking for clues when chair Jerome Powell holds a press conference after the Fed’s meeting
Continue Reading By Paul R. La Monica, CNN Business The Bank of England has already started to raise interest rates to fight inflation. The Federal Reserve is likely to follow soon. But how aggressive will America’s central bank be? Investors will be looking for clues when chair Jerome Powell holds a press conference after the Fed’s meeting
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By Hande Atay Alam and Isil Sariyuce, CNN A Turkish journalist has been sent to prison for “insulting” the nation’s President Recep Tayyip Erdogan. Sedef Kabas was arrested in Istanbul on Saturday following a live interview on the opposition TV channel Tele1 last Friday, according to Turkey’s state broadcaster Turkish Radio and Television, TRT Haber.
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