By Rachel Metz, CNN Business Mark Zuckerberg has bet his company’s future on an ambitious long-term vision of people carrying out greater portions of their lives in virtual spaces through digital alter egos. But an image Zuckerberg recently posted to his Facebook page served as a reality check of sorts for virtual reality, at least
Continue Reading By Brian Fung, CNN Business An explosive whistleblower disclosure by Twitter’s former head of security this week exposes the company to new federal investigations and potentially billions of dollars in fines, tougher regulatory obligations or other penalties from the US government, according to legal experts and former federal officials. Twitter faces tremendous legal risks stemming
Continue Reading By Laura He, CNN Business China has unveiled 19 new measures to shore up its economy and “secure drinking water” supply as the country continues to struggle with its worst heatwave in 60 years and rigid Covld lockdowns. The new measures announced by China’s cabinet on Wednesday amount to more than 1 trillion yuan ($146
Continue Reading By Paul R. La Monica, CNN Business Tesla’s stock price is set to drop at the opening bell Thursday, but not because of anything Elon Musk tweeted about demand for electric vehicles, ‘full self-driving’ features, SpaceX updates, silly memes or his legal battle with Twitter. The electric car company completed a 3-for-1 stock split after
Continue Reading By Jessie Yeung and Shawn Deng, CNN The island of Hainan in southern China plans to ban the sale of fossil fuel-powered vehicles by 2030, aiming to become the first province in the country to do so, according to provincial authorities. In a statement, the provincial government vowed to be “at the forefront of the
Continue Reading By Brian Fung and Clare Duffy, CNN Business Twitter’s former head of security, who filed a whistleblower disclosure about the company, will testify in a Senate hearing next month, the same day that Twitter shareholders are set to vote on whether to approve Elon Musk’s takeover deal. Peiter “Mudge” Zatko, whose disclosure was first reported
Continue Reading By Clare Duffy, CNN Business Elon Musk’s lawyers repeatedly referenced claims from a Twitter whistleblower in court on Wednesday, in an early preview of how the billionaire’s side might use the new allegations in his legal battle with the social media company over their $44 billion acquisition agreement. The hearing, which was focused on how
Continue Reading By Danielle Wiener-Bronner, CNN Business Chick-fil-A’s grilled nuggets and grilled filets have a dairy allergen due to an accidental contamination at its supplier, according to the company. “A supplier notified us they had unintentionally added an undeclared dairy allergen in the recipe for our Grilled Filets and Grilled Nuggets,” the company said in a statement,
Continue Reading By Matt Egan, CNN Business President Joe Biden’s student loan plan is a potential game changer for Americans drowning in debt. And yet the impact on the economy at large is likely to be so tiny that it will be hard to measure. Biden announced Wednesday that his administration will forgive $10,000 for borrowers who
Continue Reading By Matt Egan, CNN Business President Joe Biden’s student loan plan is a potential game changer for Americans drowning in debt. And yet the impact on the economy at large is likely to be so tiny that it will be hard to measure. Biden announced Wednesday that his administration will forgive $10,000 for borrowers who
Continue Reading By Clare Duffy, CNN Business After years of users clamoring for such a feature, Twitter is finally testing edited tweets. Twitter said in — where else? — a tweet Thursday morning that some users may start seeing edited tweets in their feed because it is testing the long-awaited edit button. “This is happening and you’ll
Continue Reading By Donie O’Sullivan and Sean Lyngaas, CNN Twitter’s executives defended the company, and themselves, in a meeting with employees on Wednesday, one day after news broke that a former executive had blown the whistle on the company. CEO Parag Agrawal opened the company-wide meeting by pushing back on claims made by Peiter “Mudge” Zatko, Twitter’s
Continue Reading By Donie O’Sullivan and Sean Lyngaas, CNN Twitter’s executives defended the company, and themselves, in a meeting with employees on Wednesday, one day after news broke that a former executive had blown the whistle on the company. CEO Parag Agrawal opened the company-wide meeting by pushing back on claims made by Peiter “Mudge” Zatko, Twitter’s
Continue Reading By Parija Kavilanz, CNN Business Party City expects Halloween will be back with a vengeance this year — in a good way. The seller of themed party products, clothing, decorations and other paraphernalia said it has upped its seasonal hiring ahead of the costumed festivities because it anticipates Halloween sales to be much more robust
Continue Reading By Catherine Thorbecke, CNN Business Apple customers could soon get a look at the next generation of iPhones. Apple sent out press invites on Wednesday for an event on September 7, where the company is widely expected to unveil the new iPhone 14 lineup. The company’s invite, which is always closely scrutinized for hidden meanings,
Continue Reading By Paul R. La Monica, CNN Business Some would argue that Wall Street is just one big casino. And for investors wagering on gambling stocks, it’s been a big losing bet so far this year. Shares of sports betting giant DraftKings are down about 35% in 2022. UK-based Flutter Entertainment, which owns DraftKings rival FanDuel,
Continue Reading By Kathryn Vasel, CNN Business Having kids is a major life change — and it can also be very expensive. And over the past several years, more workers are seeking out company benefits that help cover some of the costs. Some companies are offering coverage for things like egg freezing, in vitro fertilization and breast
Continue Reading Martha C. White Inflation talk is expected to dominate the Federal Reserve’s annual summer gathering in Jackson Hole, Wyoming, later this week. Wall Street will be closely watching the Jackson Hole Economic Symposium — which will return to an in-person format after two years of being held virtually — searching for clues about where the
Continue Reading By Anna Cooban, CNN Business The United Kingdom will have to find an answer to soaring energy bills soon or risk a humanitarian crisis. But freezing gas and electricity prices over the next two winters could cost the government over £100 billion ($118 billion), more than it spent paying millions of people’s salaries during the
Continue Reading By Brian Fung, CNN Twitter’s former head of security is blowing the whistle on company practices that he says have jeopardized US national security and misled investors and regulators. With a nearly 200-page disclosure to the US government, Peiter “Mudge” Zatko has become the latest whistleblower to come forward from the tech industry. Zatko levels
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