By Chris Isidore, CNN Business What’s Elon Musk doing with the billions he’s collected in the past two months from selling shares in Tesla? It seems possible, maybe even likely, that he’s put at least some of the money into SpaceX, the other company of which he is CEO and primary shareholder. Most of the
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By Peter Valdes-Dapena, CNN Business Tesla has opened a new showroom in Xinjiang, a region in western China that is purported to be the site of abuse and brutal repression of the country’s Uyghurs, a predominantly Muslim ethnic minority. The region has become a major geopolitical hotspot in recent years, and a key source of
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By Julia Horowitz, CNN Business The stock market just wrapped up one of its best years on record. Can it repeat its stellar performance in 2022, even when faced with inflation concerns and rising interest rates? Wall Street certainly thinks so. Jonathan Golub, chief US equity strategist at Credit Suisse, predicts that the S&P 500
Continue Reading By Julia Horowitz, CNN Business The stock market just wrapped up one of its best years on record. Can it repeat its stellar performance in 2022, even when faced with inflation concerns and rising interest rates? Wall Street certainly thinks so. Jonathan Golub, chief US equity strategist at Credit Suisse, predicts that the S&P 500
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By Gregory Wallace and Matt McFarland, CNN Business Thousands of US flights were canceled over New Year’s weekend as a combination of Covid-19 disruptions and wintry weather slowed travel. Flight cancellations have trended up steadily since Christmas Eve, hitting a new peak Saturday as millions travel over the holidays. Data from the website FlightAware shows
Continue Reading By Samantha Murphy Kelly, CNN Business You soon won’t be able to use that old BlackBerry phone sitting at the bottom of your drawer somewhere. Starting Tuesday, January 4, the company will stop running support for its classic devices running BlackBerry 10, 7.1 OS and earlier. This means all of its older devices not running
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By Gregory Wallace and Matt McFarland, CNN Thousands of US flights were canceled on New Year’s Day as a combination of Covid-19 and wintry weather have slowed travel. Flight cancellations have trended up steadily since Christmas Eve, hitting a new peak Saturday morning as millions travel over the holidays. Data from the website FlightAware shows
Continue Reading By Gregory Wallace and Matt McFarland, CNN Business Thousands of US flights were canceled over New Year’s weekend as a combination of Covid-19 disruptions and wintry weather slowed travel. Flight cancellations have trended up steadily since Christmas Eve, hitting a new peak Saturday as millions travel over the holidays. Data from the website FlightAware shows
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By Jackie Wattles, CNN Business When future generations write about the history of space travel, 2021 may well get its own chapter. “The year of the billionaires,” it might be called. Jeff Bezos and Richard Branson each took supersonic joy rides to the edge of space, finally bringing their competing private-sector spacecraft into operation after
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By Anneken Tappe, CNN Business America is finishing the year with decades-high inflation. That doesn’t bode well for 2022. Prices have climbed so high it will take some time for them to come back down to earth. In other words, the uncomfortable inflation numbers of 2021 will likely stay with us well into the New
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By Parija Kavilanz, CNN Business It’s New Year’s Day, and many of us are probably staying cocooned in our homes, contemplating the year ahead. But others among us might need to go about our regular weekly routines, including venturing out to shop for groceries, diapers, treats for the pooch and picking up prescription refills. If
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By Reuters Spirit Airlines flight attendants are receiving double pay on any work through January 4, their union said, as the budget carrier scrambles to keep its schedules intact after U.S. airlines were hammered by a week of mass cancellations. The holiday season has been marred by delayed or canceled flights, causing chaos at most
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By Clare Duffy, CNN Business Bob Iger, Disney’s former chief executive and long-time executive chairman, is officially ending his tenure Friday after just shy of half century at the company. Iger announced he would leave the company when his contract ended at the close of this year. “This is the end of my 47 1/2
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By Paul R. La Monica, CNN Business Cruise company stocks had been holding up remarkably well in December despite concerns about Covid outbreaks on ships and the rapidly spreading Omicron variant. But that’s no longer the case. The US Centers for Disease Control and Prevention said Thursday that even vaccinated people should no longer take
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By Gregory Wallace, CNN Business The Federal Aviation Administration is warning more air travel headaches may be in store, even as airlines cancel thousands of flights because of coronavirus crew shortages and other issues. The FAA said Friday an “increased number” of its own employees are testing positive for the virus. That could force it
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By Matt Egan, CNN Business Omicron is messing with back-to-the-office plans for both JPMorgan Chase and Citigroup. Citing the spike in Covid-19 cases, both big banks told US employees on Thursday that they can start 2022 by working remotely. In a memo obtained by CNN, Citi asked its US employees to work from home for
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By Chris Isidore, CNN Business Warren Buffett, the ninth-richest person on the planet, says it’s not up to him to settle a strike by 450 steelworkers at a company he owns. Sen. Bernie Sanders wrote a letter to the Berkshire Hathaway CEO, requesting that he intervene in a United Steelworkers union strike at the Special
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By Paul R. La Monica, CNN Business The year’s last day of trading was a relatively quiet one. Stocks ended the day slightly lower Friday. But 2021 was still a banner year for Wall Street. The Dow fell about 60 points Friday, or 0.2%. It was up 19% this year. The Nasdaq closed down 0.6%
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By Parija Kavilanz, CNN Business Ikea said its customers will pay more when they shop at its stores in 2022. Like many companies with tight profit margins, the world’s biggest furniture seller is struggling to absorb higher costs because of ongoing global supply chain problems. Ikea said prices at its stores will increase by an
Continue Reading By Parija Kavilanz, CNN Business Ikea said its customers will pay more when they shop at its stores in 2022. Like many companies with tight profit margins, the world’s biggest furniture seller is struggling to absorb higher costs because of ongoing global supply chain problems. Ikea said prices at its stores will increase by an
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