By Michelle Toh, CNN Business India’s richest man is bringing 7-Eleven to the country, adding the convenience store chain to a sprawling business empire that spans energy, chemicals, retail and telecommunications. Reliance Retail, the commerce arm of Mukesh Ambani’s conglomerate, announced Thursday that it will open India’s first 7-Eleven stores, just days after the quick-service
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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. Rupert Murdoch and Roger Ailes launched Fox News 25 years ago Thursday. Is the United States better off? For all the rightful scrutiny of Facebook in recent days, let’s recognize
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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. Rupert Murdoch and Roger Ailes launched Fox News 25 years ago Thursday. Is the United States better off? For all the rightful scrutiny of Facebook in recent days, let’s recognize
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By Oliver Darcy, CNN Business AT&T executives played a key role in the birth of far-right conspiracy channel One America News (OAN), according to court documents reviewed by CNN. The court documents were first reported by Reuters on Wednesday in an in-depth story detailing how AT&T, which is also the parent company of CNN, “helped
Continue Reading By Oliver Darcy, CNN Business AT&T executives played a key role in the birth of far-right conspiracy channel One America News (OAN), according to court documents reviewed by CNN. The court documents were first reported by Reuters on Wednesday in an in-depth story detailing how AT&T, which is also the parent company of CNN, “helped
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By Pamela Brown, Zachary Cohen, Ryan Nobles, Annie Grayer and Donie O’Sullivan, CNN Business The Facebook whistleblower who released thousands of documents that she says shows the company knows its platforms are used to spread hate, violence and misinformation is expected to meet with the House select committee investigating the January 6 riot at the
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By Sara Ashley O’Brien, CNN Business Former Safeway CEO Steven Burd testified Wednesday during the criminal trial of Elizabeth Holmes about his company’s decision to invest heavily in a partnership with her blood testing startup Theranos that ultimately failed to get off the ground. Burd, who served as CEO of the grocery chain from 1993
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By Sara Ashley O’Brien, CNN Business In the criminal trial of Elizabeth Holmes, one witness has hogged the spotlight so far: former Theranos lab director Adam Rosendorff. Rosendorff, who ran Theranos’ clinical lab during a crucial period for the startup as it launched blood testing to consumers with Walgreens, has occupied the witness stand for
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By Matt Egan Concern is rising on Wall Street over Washington’s debt ceiling game of chicken. Goldman Sachs warned clients on Wednesday that Congress may fail to raise or suspend the debt ceiling prior to the October 18 deadline. “It looks unlikely that Congress will address the debt limit before the last minute, and there
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By Rishi Iyengar, CNN Business Twitch has experienced a major data breach, the game streaming service confirmed on Wednesday. “We can confirm a breach has taken place,” Twitch, which is owned by Amazon, said on Twitter. “Our teams are working with urgency to understand the extent of this.” The company’s statement came after an anonymous
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By Alexis Benveniste, CNN Business Driving and flying are huge contributors to carbon emissions and climate change. So Google is helping users make more informed decisions about how they travel. The company is releasing features on Google Maps and Google Flights to show how travel plans may contribute to climate change. Eco-friendly routes In addition
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By Chris Isidore, CNN Business General Motors’ transition to an all-electric vehicle lineup will help the environment. It will also help make GM a 100% more successful business, the company says. GM announced Wednesday that it forecasts doubling global revenue by the end of the decade and improving its profit margin as it does so.
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By Paul R. La Monica, CNN Business Bitcoin is back, and it has a prominent new supporter. The price of the world’s most valuable cryptocurrency spiked nearly 10% Wednesday morning to around $55,000, following news that the investment firm founded by billionaire George Soros owns bitcoin. Soros, who is famous for making big money on
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By Parija Kavilanz, CNN Business Levi’s says it could take a while before consumers are ready to toss aside a pair of comfy baggy jeans for dressier clothing. “The casualization trends that have been accelerated by the pandemic globally are here to stay, and the denim cycle we started pre-pandemic is continuing to drive growth,”
Continue Reading By Donie O’Sullivan, CNN Hours after Facebook whistleblower Frances Haugen testified before Congress about how the social network poses a danger to children and democracy, Mark Zuckerberg took to the platform he built and posted a 1,300-word screed trying to undermine her. His main argument was that Haugen was taking Facebook’s research on its impact
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By Donie O’Sullivan, CNN Hours after Facebook whistleblower Frances Haugen testified before Congress about how the social network poses a danger to children and democracy, Mark Zuckerberg took to the platform he built and posted a 1,300-word screed trying to undermine her. His main argument was that Haugen was taking Facebook’s research on its impact
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By Danielle Wiener-Bronner, CNN Business Two years after launching the Impossible Whopper, Burger King is testing out Impossible nuggets. Starting on October 11, Burger King restaurants in Des Moines, Iowa, Boston, Massachusetts and Miami, Florida will serve eight-piece plant-based nuggets made by Impossible Foods for a limited time. While Burger King is following other fast-food
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By Nathaniel Meyersohn, CNN Business Walmart may be delivering the next power drill or can of paint you order from Home Depot. Walmart in August launched a new service called GoLocal to deliver goods to customers on the same day or the following from other businesses’ websites. Home Depot is the first customer for the
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By Diksha Madhok, CNN Business China isn’t the only major Asian economy facing an energy crisis. India may be staring at electricity shortages in the coming months because coal stocks at most of its power plants have dropped to critically low levels. As many as 63 of the 135 coal-fired power plants in Asia’s third
Continue Reading Opinion by Mark Wolfe for CNN Business Perspectives Prices for gasoline, food and other essentials have all risen over the past few months, straining family budgets across the US. And now, prices for natural gas, the most common way to heat homes, are at their highest level in the last seven years. If it’s a
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