By Peter Valdes-Dapena, CNN Business The Audi Grandsphere, revealed Wednesday, is the German automaker’s idea of what self-driving luxury car could be, with controls that fold away and lounge-style seats in the front. Audi has yet to release anything like a fully self-driving car, but the Grandsphere concept plays with the idea of how we
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By Sara Ashley O’Brien, CNN Business A jury of seven men and five women has been selected for the long-awaited criminal trial of Elizabeth Holmes, the former CEO and founder of Theranos. The twelve jurors and five alternates were sworn in Thursday. The jury appeared to be diverse, both ethnically and in terms of age.
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By Jackie Wattles, CNN Business The Federal Aviation Administration confirmed late Wednesday it is investigating Richard Branson’s flight to space, saying the rocket-powered plane operated by his company, Virgin Galactic, veered off course during its descent. The FAA’s statement came not long after the New Yorker’s Nicholas Schmidle reported that warning lights had shown up
Continue Reading By Jackie Wattles, CNN Business The Federal Aviation Administration confirmed late Wednesday it is investigating Richard Branson’s flight to space, saying the rocket-powered plane operated by his company, Virgin Galactic, veered off course during its descent. The FAA’s statement came not long after the New Yorker’s Nicholas Schmidle reported that warning lights had shown up
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By Paul R. La Monica, CNN Business Online pet supply retailer Chewy got a huge boost during the pandemic as more consumers shopped on their phones and laptops — and adopted more kittens and puppies. But it looks like Chewy’s Covid lift is fading, and that’s sending the stock to Wall Street’s dog house. Shares
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Opinion by Gad Levanon for CNN Business Perspectives The sharp decline in Covid cases during the first half of 2021 raised expectations that the pandemic would gradually die down and the jobs market would return to normal by year’s end. But the Delta variant has scrambled that labor market outlook for this year and beyond,
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By Julia Horowitz, CNN Business Last month, Before the Bell observed early signs that the red-hot global housing market could be starting to cool, as elevated prices appeared to hurt demand and home improvement spending eased. We may have called the top too soon. What’s happening: US home prices rose 18.6% in June compared to
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By Michelle Toh, CNN Business Two of China’s leading tech companies are setting up labor unions for their staff as the industry comes under intense political pressure to rethink how it treats its workers. Chinese ride-hailing company Didi (DIDI) announced on an internal forum last month that it had established a union for its workers,
Continue Reading By Laura He, CNN Business China will set up a new stock exchange in Beijing, giving the nation’s capital and political center more influence in the world of business and finance. President Xi Jinping announced the Beijing-based exchange at an international trade fair on Thursday, saying that he wanted to create a venue for “service-oriented”
Continue Reading By Anneken Tappe, CNN Business The US jobs recovery is about to get a reality check. It was a strong summer, with nearly 2.5 million jobs added back between May and July even as the Delta variant started to increase Covid-19 infections — but economists are now growing cautious that August may not have been
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By Anneken Tappe, CNN Business The US jobs recovery is about to get a reality check. It was a strong summer, with nearly 2.5 million jobs added back between May and July even as the Delta variant started to increase Covid-19 infections — but economists are now growing cautious that August may not have been
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By Jill Disis, CNN Business Apple will allow companies such as Spotify and Netflix to direct customers to their own websites to make payments, allowing them to more easily avoid fees levied by the App Store. The iPhone maker’s latest concession in a long-standing fight with app developers was announced Wednesday in response to an
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By Michelle Toh, CNN Business Hong Kong has reclaimed its status as the host of a marquee Asian tech conference it lost last year, as organizers cite the city’s success in battling the coronavirus pandemic. Rise, an annual tech conference whose recent speakers have included executives from Uber, Alibaba and Stripe, said Thursday that it
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By Jessie Yeung and Meenketan Jha, CNN The air pollution in India is so bad that it could be reducing the life expectancy of hundreds of millions of people by as much as nine years, according to a new study. The report, released Wednesday by the United States-based research group Energy Policy Institute at the
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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. ABC News President Kim Godwin hasn’t even been on the job for six months, but she has already infuriated her bosses over at Disney. When Godwin called for an independent,
Continue Reading 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. ABC News President Kim Godwin hasn’t even been on the job for six months, but she has already infuriated her bosses over at Disney. When Godwin called for an independent,
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By Lauren del Valle, CNN Business A federal bankruptcy judge ruled that Purdue Pharma, the maker of the addictive painkiller OxyContin, will be dissolved under a settlement deal and that its owners, members of the Sackler family, will pay out more than $4 billion to address the opioid epidemic that’s killed more than 500,000 Americans.
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By Kerry Flynn, CNN Business Joe Rogan, one of the world’s highest paid and most influential podcast hosts, announced Wednesday he has tested positive for Covid-19 and said he’d embarked on a fringe treatment regime. In a video posted to his official Instagram account, Rogan said he felt “very weary” on Saturday and got tested
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By Rishi Iyengar, CNN Business After days of controversy over its decision not to crack down on misinformation about Covid-19, Reddit is somewhat backtracking, taking action against dozens of its groups known as “subreddits.” The social media site on Wednesday banned one prominent subreddit called r/NoNewNormal, which described itself as hosting a “[skeptical] discussion of
Continue Reading By Kerry Flynn, CNN Business Joe Rogan, one of the world’s highest paid and most influential podcast hosts, announced Wednesday he has tested positive for Covid-19 and said he’d embarked on a fringe treatment regime. In a video posted to his official Instagram account, Rogan said he felt “very weary” on Saturday and got tested
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