By Michelle Toh, CNN Business Dipali Roy couldn’t afford to eat. She and her husband, Pradip Roy, were garment workers in Bangladesh when the Covid-19 pandemic hit last spring, leading to mass layoffs at their factory. Like millions of people around the world, both lost their jobs in the capital city of Dhaka, where they
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By Chris Isidore, CNN Business Finding the next Tesla among electric vehicle stocks is proving to be difficult. A number of upstart electric vehicle makers’ stock prices soared in recent years, as investors looked for the next company to shake up the car market. But all have struggled recently — as has Tesla itself. Lucid,
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By Peter Valdes-Dapena, CNN Business The great American pickup truck has been basically one thing for quite awhile now: a big — and always getting bigger — gas- or diesel-powered lane-hogging beast with a big open bed. Trucks like the Ford F-150 and GMC Sierra have gotten more comfortable with added luxury options like heated
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By Paul R. La Monica, CNN Business The Covid-19 pandemic is far from over. But life in many ways has returned to something resembling normal for many. That’s in large part because there are now multiple coronavirus vaccines, including one from Pfizer. And that’s one of the main reasons CNN Business has named Pfizer CEO
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By Reuters A New York state judge on Friday ordered the New York Times to return internal documents to the conservative activist group Project Veritas, a restriction the newspaper said violates decades of First Amendment protections. In an unusual written ruling, Justice Charles Wood of the Westchester County Supreme Court directed the New York Times
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By Pete Muntean, CNN Business Major US airlines canceled hundreds more flights Sunday, the third day in a row of mass cancellations and delays over Christmas weekend, as staff and crew call out sick amid the Omicron surge. More than 1,200 US flights were canceled and more than 5,000 were delayed Sunday, according to FlightAware.
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By Anneken Tappe and Allison Morrow, CNN Business Twenty-one months into the pandemic, America is no longer struggling with an astronomically high unemployment rate. Instead, it’s big problem remains a shortage of workers. That makes it hard for businesses to keep up with rampant demand. Economists worry how long it will take for people on
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By Matt Egan, CNN Business Thousands of flights canceled. Back-to-the-office plans shelved. College football bowl games and Broadway shows called off. Shuttered Apple stores in New York City. Covid is once again causing mayhem in the economy. The disruption is different this time, though. Vaccines and boosters are widely available, symptoms from Omicron appear to
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By Nathaniel Meyersohn, CNN Business Editor’s note: A previous version of this report said Fight for $15 advocate Deatric Edie was currently a manager at a McDonald’s restaurant in Hollywood, Florida, and that she was worried that the restaurant was not prioritizing safety. CNN Business was not able to independently verify that Edie was a
Continue Reading By Pete Muntean, CNN Business Major US airlines canceled hundreds more flights Sunday, the third day in a row of mass cancellations and delays over Christmas weekend, as staff and crew call out sick amid the Omicron surge. More than 1,200 US flights were canceled and more than 5,000 were delayed Sunday, according to FlightAware.
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By Sara Ashley O’Brien, CNN Business Elizabeth Holmes’ fate in her criminal fraud trial will not be decided before Christmas as the jury failed to reach a verdict in its first week of deliberations. After more than 20 hours of deliberating across three days this week, the jury of eight men and four women concluded
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By Chris Isidore, CNN Business The blast at a Texas oil refinery early Thursday will probably push already high gasoline prices even higher — although not immediately. The blast and resulting fire at the ExxonMobil plant in the Houston-area city of Baytown, Texas, injured at least four workers. The accident could hamper output at one
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By Anneken Tappe, CNN Business Prices remain high in America, and inflation shows no sign of slowing down anytime soon. A key measure of US inflation rose 5.7% in the 12 months ended in November, the Bureau of Economic Analysis said Thursday. It was the fastest increase in the consumer spending price index since July
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By Chris Isidore, CNN Business Tesla reversed course Thursday and will no longer allow video games to be played on its cars’ touchscreens when they are in motion, bowing to an investigation of the feature by federal safety regulators. “Following the opening of a preliminary evaluation of Tesla’s ‘Passenger Play,’ Tesla informed the agency that
Continue Reading By Chris Isidore, CNN Business Tesla reversed course Thursday and will no longer allow video games to be played on its cars’ touchscreens when they are in motion, bowing to an investigation of the feature by federal safety regulators. “Following the opening of a preliminary evaluation of Tesla’s ‘Passenger Play,’ Tesla informed the agency that
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Opinion by Davis Smith for CNN Business Perspectives When I was 4 years old, my family left the United States and moved to Latin America, where I spent my childhood and much of my adult life. My father always had a new outdoor adventure planned, whether fishing for piranha on a self-made raft in the
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By Rachel Metz, CNN Business For many, 2021 was a mix of hopeful and challenging, as covid vaccines became more widely available but the pandemic dragged on for another year. And while technology continued to keep us entertained and connected during the pandemic, it also made our lives harder. There were times this year when
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By Charles Riley, CNN Business Electric cars are taking over the streets, big companies are trying to be nicer to the environment and people are taking action to stop climate change. But here’s a reality check: The world could consume more oil in 2022 than ever before. Global energy demand rebounded strongly this year as
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By Teele Rebane, CNN Business Intel has apologized in China following a backlash over a directive to suppliers not to source products or labor from the Xinjiang region. The US chipmaker told suppliers in a letter dated December 2021 that it “is required to ensure our supply chain does not use any labor or source
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By Laura He, CNN Business Tencent is dramatically cutting its stake in JD.com, China’s second largest e-commerce company, as it seeks to stay on the right side of Beijing, which has been cracking down on tech giants to rein in their growing power and influence. Tencent plans to distribute more than $16 billion worth of
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