By Clare Duffy and Brian Fung, CNN Business Peter Thiel, the controversial billionaire tech founder and investor, has used his fortune to encourage kids to skip college, to back a lawsuit that bankrupted Gawker Media and to donate to the presidential campaign of Donald Trump when many in Silicon Valley were strongly opposed to him.
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By Jordan Valinsky, CNN Business McDonald’s is getting ready for spring with the arrival of the Shamrock Shake. Beginning February 21, the fan-favorite milkshake — as well as an Oreo Shamrock McFlurry — will go on sale at US restaurants for a limited time. Prices vary by location. This year, McDonald’s is also releasing the
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By Julia Horowitz, CNN Business Buying a burrito bowl or a burger will hit your wallet a lot harder these days. What’s happening: An order at Chipotle costs about 10% more than it did one year ago, the restaurant chain said when reporting earnings on Tuesday. That means that if a steak burrito cost $8
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By Samantha Murphy Kelly, CNN Business Samsung’s Galaxy Note smartphone line appears to be discontinued. But for those who miss it, the Note lives on in one of Samsung’s new flagship devices. The company announced during a virtual event on Wednesday its next-generation flagship Galaxy S smartphones: the Galaxy S22, Galaxy S22 Plus and the
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By Frank Pallotta, CNN Business Wall Street was not kind to Netflix when the streaming giant released its year-end results last month. Weak financial guidance sent its stock tumbling. Is Disney+ — the other big name in streaming — about to take a similar beating? Disney is set to report first-quarter earnings on Wednesday and
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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. Reporters who cover the US military are alarmed by a lack of access right now. For decades, American journalists have been granted embed opportunities when American military forces deploy abroad.
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. Reporters who cover the US military are alarmed by a lack of access right now. For decades, American journalists have been granted embed opportunities when American military forces deploy abroad.
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By Rachel Metz, CNN Business On Monday, the Internal Revenue Service halted a plan that would have forced taxpayers to verify their identities with facial recognition software before signing on to its website. A day later, the company behind that software, ID.me, said it will make it possible for people to skip the controversial technology
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By Allison Morrow, CNN Business Starbucks fired seven workers who were involved in unionizing in Memphis, Tennessee, fueling accusations that the company is retaliating against a growing labor movement at its locations across the United States. Starbucks denied that the firings were linked to the employees’ organizing efforts. A company spokesman, Reggie Borges, said the
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By Sonia Moghe, CNN Former New York Times editorial page editor James Bennet took the witness stand in the trial for Sarah Palin’s lawsuit against the paper, telling the court he thought he had apologized to Palin for an editorial that erroneously linked her to the deadly 2011 shooting that injured former Congresswoman Gabrielle Giffords.
Continue Reading By Jennifer Korn, CNN Business TikTok announced Tuesday that it will strengthen efforts to regulate dangerous content, including harmful hoaxes and content that promotes eating disorders and hateful ideologies. The platform plans to use creators to spread awareness of negative hoaxes, broaden the scope of banned eating disorder content and add clarity on prohibited speech
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By Frank Pallotta, CNN Business Leslie Jones can keep posting unfiltered videos of herself commenting on the Olympics, according to NBC. On Monday, Jones said she would stop making the videos, because they were routinely getting blocked. But NBC said Tuesday that the former “Saturday Night Live” cast member can continue offering her commentary while
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By Anna Bahney, CNN Business A big year for car and home shopping helped push Americans to take on a lot more debt last year. Household debt increased by $1 trillion in 2021, the biggest annual increase since 2007, according to data from the Federal Reserve Bank of New York. In the fourth quarter alone,
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American workers keep leaving their jobs, and many are looking for something better. In December alone, 4.3 million workers parted ways with their employer. If you are thinking about making a move, now’s a good time to do it. There were nearly 11 million job openings at the end of 2021 and companies are beefing
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By Peter Valdes-Dapena, CNN Business Hyundai and Kia are telling owners of almost 500,000 cars and SUVs in the United States to park outside and away from buildings due to a possible defect that can cause the vehicles to spontaneously catch fire even when not running. The problem is that, due to “foreign contaminants,” the
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By Jennifer Korn, CNN Business Apple on Tuesday said it plans to introduce a contactless payment option later this year that will let businesses use iPhones to process transactions in stores without any additional hardware, competing with services like Square. The new “Tap to Pay” feature will allow US merchants of all sizes to accept
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By Peter Valdes-Dapena, CNN Business Major automakers are coming out with electric cars and SUVs that could, one day, threaten Tesla’s dominance in that field. But there’s a big fight brewing in another electric vehicle market where Tesla doesn’t even play. Electric work vans. Electric vans present a big opportunity because of two concurrent trends.
Continue Reading By Peter Valdes-Dapena, CNN Business Major automakers are coming out with electric cars and SUVs that could, one day, threaten Tesla’s dominance in that field. But there’s a big fight brewing in another electric vehicle market where Tesla doesn’t even play. Electric work vans. Electric vans present a big opportunity because of two concurrent trends.
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By Sean Lyngaas, CNN Business A New York couple has been arrested and charged with conspiring to launder $4.5 billion in stolen cryptocurrency funds. Law enforcement officials have seized $3.6 billion of those funds in what US Deputy Attorney General Lisa Monaco called “the department’s largest financial seizure ever.” Ilya Lichtenstein, 34, and his wife,
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By Jordan Valinsky, CNN Business Peloton is replacing embattled CEO John Foley and cutting about 20% of its workforce to help reinvigorate the flailing fitness company. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become its CEO and president, effective Wednesday. Foley will become the company’s executive chair, and wrote in
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