By Michelle Toh and Selina Wang, CNN Business Sponsors of the Olympics are walking a tightrope ahead of the Beijing Winter Games next month as worsening geopolitical tensions force them to consider downplaying their involvement without upsetting China. Political fervor in the United States reached a high last month as the White House called for
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By Brian Fung and Laura He, CNN Business The Federal Communications Commission on Thursday voted to ban China Unicom, a state-owned Chinese telecommunications carrier, from offering telecom services in the United States. The decision marks the regulators’ latest move to lock down US networks against the risk of Chinese espionage, a threat that national security
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Last week’s frightening sight of a local TV reporter being hit by a car during a live shot is sparking conversations and calls for change. The reporter, Tori Yorgey of
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By Rhea Mogul and Vedika Sud, CNN Dharini Mathur’s son had just turned 4 when he started pre-school online. More than 600 days later, he still sits behind his computer screen, attempting to learn virtually — while making zero contact with his classmates and teachers. He is one of more than 4 million children in
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By Rachel Metz, CNN Business The next time you try to log in to the Internal Revenue Service’s website you’ll be urged to use facial-recognition software to verify you are who you say you are. The verification process includes taking a picture of a photo ID, like a driver’s license or passport, and then taking
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By Samantha Murphy Kelly, CNN Business Apple posted record revenue during the all-important holiday quarter even as it continued to grapple with supply chain shortages. The company on Thursday reported $123.9 billion in revenue for the final months of the year, an 11% increase from the year prior, fueled by demand for its latest lineup
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By Paul R. La Monica, CNN Business Stocks have slumped this year. So has bitcoin. But gold, by comparison, has had a fairly solid start to the year. The price of the yellow metal is roughly unchanged, hovering just below $1,800 an ounce. Gold prices are up slightly over the past three months as well.
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By Matt Egan, CNN Business The Covid era of free money is coming to an end. After dropping interest rates to zero in March 2020 to revive the economy, the Federal Reserve is shifting gears and going into inflation-fighting mode. Fed officials indicated Wednesday they plan to raise interest rates in March, launching a series
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By Paul R. La Monica, CNN Business The Federal Reserve may have a playbook for how it plans to tackle inflation and keep the economy humming along. But as any sports fan knows, the best coaches always have to adapt to what’s happening in the game. Sometimes, the strategy has to change. Investors understandably don’t
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By Allison Morrow, CNN Business Editor’s Note: This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. RETAIL THERAPY Never underestimate just how much Americans are willing to spend to soothe ourselves in the midst of a crisis. The US economy grew 5.7% last year,
Continue Reading By Allison Morrow, CNN Business Editor’s Note: This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. RETAIL THERAPY Never underestimate just how much Americans are willing to spend to soothe ourselves in the midst of a crisis. The US economy grew 5.7% last year,
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By Anneken Tappe, CNN Business Thursday’s stock market rally didn’t last long. The major indexes gave back sharp gains from earlier in the day. Both the S&P 500 and the Nasdaq Composite ended in negative territory, down 0.5% and 1.4%, respectively. The S&P 500 has fallen for three straight days and is now down 10%
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By Paul R. La Monica, CNN Business It’s been a tough start to the year for investors in big tech companies. Cathie Wood’s ARK Innovation fund, a big owner of Tesla, Zoom and Roku, has plunged nearly 30%. And speculative meme stocks like GameStop and AMC have been crushed. But that’s not causing Berkshire Hathaway’s
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Kathryn Vasel, CNN Business As the pandemic heads into yet another year, companies are still grappling with uncertainty in the workplace. Many have attempted to reopen their offices, only to be stymied by new variants or outbreaks that necessitated yet another shutdown or a delayed re-opening. So some businesses are removing the guesswork altogether by
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By Matt Egan, CNN Business Bank of America slashed its first-quarter economic outlook for the United States on Friday because of disruptions caused by the Omicron coronavirus variant. Economists at Bank of America said in a report to clients they now expect US gross domestic product to increase at an annual rate of just 1%
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By Anneken Tappe, CNN Business The US economic recovery from the depths of the Covid pandemic continued through the end of last year. But the strong finish to 2021 likely won’t last into this year. The economy is grappling with the fallout from the Omicron variant that began weighing on businesses in the second half
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Opinion by Gerry Connolly for CNN Business Perspectives Our workforce is the lifeblood of the US federal government. Without individuals committed to public service, taxpayers, vulnerable populations and small businesses would not have access to critical resources and services. If the federal government fails to attract and hire the best and the brightest into service,
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By Sara Ashley O’Brien, CNN Business Microsoft’s nearly $70 billion deal to buy Activision Blizzard could make it a leader in gaming. But it also risks creating a new headache for the tech giant in a key part of its operations: corporate culture. For months, Activision Blizzard has been under pressure to overhaul its workplace
Continue Reading By Rachel Metz, CNN Business Jeremy Bailenson has studied virtual reality for decades. But it wasn’t until last year that the Stanford professor felt the technology was good enough that he could actually teach a class in VR. Over the summer and again in the fall, Bailenson, the founding director of Stanford’s Virtual Human Interaction
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By Danielle Wiener-Bronner, CNN Business Higher prices and chicken sandwiches are helping boost McDonald’s sales. But earnings disappointed Wall Street Thursday morning. Last year, sales at US stores open at least 13 months jumped 13.8%, the largest annual increase since McDonald’s started reporting comparable sales in 1993, the company said Thursday. In the fourth quarter,
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