By Chris Isidore, CNN Business In 2021, ExxonMobil posted its largest profit in seven years, as soaring energy prices added more than $100 billion in revenue to the company’s top line. The nation’s largest oil company earned $23 billion for the year, compared to a loss of $1.4 billion, excluding special items, in 2020. The
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By Anneken Tappe, CNN Business The pandemic economy is one of imbalances: supply chain woes and rising inflation have been with us for a while now, with few solutions in sight. But there’s another big shock to the global economy taking shape: climate change. Although the pandemic will eventually end — whether it takes months
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By Jennifer Korn, CNN Business The New York Times has acquired Wordle, the explosively popular game that gives players six chances to guess a five-letter word daily. The Times, which announced the purchase of the game on Monday, is adding the puzzle to their portfolio of word games such as The Crossword, The Mini and
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By Julia Horowitz, CNN Business Stocks haven’t experienced a start to the year this rough in a very long time. What’s happening: After rallying almost 27% in 2021, the S&P 500 finished January down 5.3%. It was the index’s worst January since 2009. The tech-heavy Nasdaq Composite shed 9%, its worst kickoff since 2008. It’s
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By Peter Valdes-Dapena, CNN Business Aston Martin has unveiled a new version of the British luxury brand’s first SUV. Called the DBX707, it’s powered by a 697-horsepower turbocharged V8 engine, and Aston is calling it “the world’s most powerful luxury SUV.” The claim depends, to some degree, on how you define a “luxury SUV.” Aston
Continue Reading By Peter Valdes-Dapena, CNN Business Aston Martin has unveiled a new version of the British luxury brand’s first SUV. Called the DBX707, it’s powered by a 697-horsepower turbocharged V8 engine, and Aston is calling it “the world’s most powerful luxury SUV.” The claim depends, to some degree, on how you define a “luxury SUV.” Aston
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By Charles Riley, CNN Business The UK government has threatened to take action against Kremlin-linked oligarchs who have turned London into their playground if President Vladimir Putin orders an invasion of Ukraine. But decades of loose regulation and courting of Russian investors mean that some Putin allies are now so deeply integrated into UK society
Continue Reading By Charles Riley, CNN Business The UK government has threatened to take action against Kremlin-linked oligarchs who have turned London into their playground if President Vladimir Putin orders an invasion of Ukraine. But decades of loose regulation and courting of Russian investors mean that some Putin allies are now so deeply integrated into UK society
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By Chris Isidore, CNN Business Put America’s most popular sporting event in its second-largest metropolitan area. Put the stadium’s home team in the game facing an opponent that has never won a championship. What do you get? Unsurprisingly, you get record Super Bowl ticket prices. SeatGeek said that the average price customers are paying for
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By Diksha Madhok, CNN Business India is planning to launch a digital version of the rupee, becoming the latest country to join the rush to create state-backed virtual currencies. The country’s central bank expects to introduce the currency “using blockchain and other technologies” some time in the new fiscal year, which begins in April, according
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By Michelle Toh, CNN Business Rio Tinto has found disturbing patterns of racism, sexism, harassment and sexual assault among its global workforce of 47,500, according to a new investigation. On Tuesday, the mining giant published the findings of an external review it commissioned last year after months of scrutiny about how workers were being treated.
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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. The new 9am hour of “Morning Joe” is starting to come into focus. Eugene Daniels and Katty Kay have had discussions about taking on fixed roles on the show with
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. The new 9am hour of “Morning Joe” is starting to come into focus. Eugene Daniels and Katty Kay have had discussions about taking on fixed roles on the show with
Continue Reading By Jennifer Korn, CNN Business The New York Times has acquired Wordle, the explosively popular game that gives players six chances to guess a five-letter word daily. The Times, which announced the purchase of the game on Monday, is adding the puzzle to their portfolio of word games such as The Crossword, The Mini and
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By Gregory Wallace and Pete Muntean, CNN The United Aviate Academy officially opened Thursday outside Phoenix, putting the school’s first class of about 60 students on a streamlined path to a new career. “I am very excited for it,” student pilot Adela Gallegos told CNN. The 23-year-old studied business administration in college and had no
Continue Reading By Gregory Wallace and Pete Muntean, CNN The United Aviate Academy officially opened Thursday outside Phoenix, putting the school’s first class of about 60 students on a streamlined path to a new career. “I am very excited for it,” student pilot Adela Gallegos told CNN. The 23-year-old studied business administration in college and had no
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By Charles Riley, CNN Business China is facing an economic crisis after a real estate boom ended with a bang last year, according to investor George Soros. The billionaire said in a speech at Stanford University’s Hoover Institution Monday that President Xi Jinping may not be able to restore confidence in the troubled industry, which
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By Brian Fung, CNN Business Sony is acquiring Bungie, the video game studio that created hit franchises such as “Halo” and “Destiny,” in a $3.6 billion deal that further centralizes the rapidly consolidating game industry. In a blog post, Sony (SONY) said the acquisition would help take its PlayStation platform “beyond the console” and flesh
Continue Reading By Charles Riley, CNN Business China is facing an economic crisis after a real estate boom ended with a bang last year, according to investor George Soros. The billionaire said in a speech at Stanford University’s Hoover Institution Monday that President Xi Jinping may not be able to restore confidence in the troubled industry, which
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By Jennifer Korn, CNN Business The world’s first all-electric passenger aircraft is preparing to take flight. The Alice, a plane developed by Israeli company Eviation, went through engine testing last week at Arlington Municipal Airport north of Seattle. According to Eviation CEO Omer Bar-Yohay, the Alice is just weeks away from its first flight. With
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