By Chris Isidore, CNN Business Southwest Airlines CEO Gary Kelly stirred up some controversy Wednesday when he suggested that wearing masks on planes did little to prevent the spread of Covid. “I think the case is very strong that masks don’t add much if anything in the air cabin environment,” he said in response to
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By Matt Egan, CNN Business Former President Donald Trump’s new media venture has no known revenue or product. Trump Media & Technology Group (TMTG) posted an investor presentation last week that appears to contain errors and seems to have been partially copied and pasted from the internet. Bizarrely, one slide defines a user as a
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By Pete Muntean, CNN Business Southwest Airlines CEO Gary Kelly, who testified unmasked at a Senate hearing on Wednesday, has since tested positive for the coronavirus, the airline said in a statement. “Although testing negative multiple times prior to the Senate Commerce Committee Hearing, Gary tested positive for COVID-19 after returning home, experiencing mild symptoms,
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By Pete Muntean, CNN Business Southwest Airlines CEO Gary Kelly, who testified unmasked at a Senate hearing on Wednesday, has since tested positive for the coronavirus, the airline said in a statement. “Although testing negative multiple times prior to the Senate Commerce Committee Hearing, Gary tested positive for COVID-19 after returning home, experiencing mild symptoms,
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By Brian Fung, CNN Business The Federal Trade Commission says it’s considering drafting new rules for US businesses that would more strongly regulate how they can use data and algorithms, in the latest move to clamp down on technology companies run amok. The effort could lead to “market-wide requirements” targeting “harms that can result from
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By Kara Scannell Two staffers with Forbes magazine testified before the grand jury investigating the Trump Organization on Thursday as investigators focus on former President Donald Trump’s statements about his net worth. Randall Lane, chief content officer and editor at Forbes, wrote in an article published Friday that he and a colleague Chase Peterson-Withorn were
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By Clare Duffy and Jennifer Korn, CNN A content moderator for TikTok is suing the social media platform after she says she developed psychological trauma as a result of her job, which she alleges required her to review videos featuring graphic violence, conspiracy theories and other disturbing imagery. Candie Frazier, a Las Vegas-based contractor for
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By Frank Pallotta, CNN Business “Everybody loves a hero.” The immortal words of Aunt May from 2004’s “Spider-Man 2” ring truer than ever this weekend as audiences, Hollywood and especially theaters await the biggest film of the year. “Spider-Man: No Way Home,” the latest Spider-Man adventure from Sony and Marvel, opens this weekend, and is
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By Frank Pallotta, CNN Business Theaters needed a hero, and Spider-Man swung in just in time. “Spider-Man: No Way Home” — the latest movie in the Marvel series — notched a record breaking opening weekend at the domestic box office by bringing in an estimated $253 million, according to its studio, Sony. That is the
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By Paul R. La Monica, CNN Business Wall Street is getting nervous about what will happen to the economy next year. The big concern is whether inflation will run too hot, forcing the Federal Reserve to step in with more rate hikes to stop rising prices in their tracks. The Dow fell more than 530
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By Anneken Tappe, CNN Business Volatility is back on Wall Street: Stocks fell as central banks around the world turn more hawkish and worries about the omicron variant increase ahead of the holidays. US stocks mostly added onto their losses from the prior session, with the Dow falling as much as more than 600 points
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By Samantha Murphy Kelly, CNN Business “We’re about to be joined by a very important customer,” said Christian Braun, CEO of collectible e-commerce company hobbyDB, during a recent Zoom meeting with his marketing team. “Over to you, Nick.” That’s St. Nick, actually. A jolly ho-ho-ho-ing Santa entered the virtual room ringing a bell and turning
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By Sara Ashley O’Brien, CNN Business After three months of testimony from 32 witnesses, the criminal fraud case of Theranos founder Elizabeth Holmes has made its way to the jury of eight men and four women who will decide her fate. In dueling closing arguments spanning two court days, the prosecution and defense put forth
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By Walé Azeez, CNN Business A billionaire British aristocrat is taking the publisher of the Daily Mail and Mail Online private after agreeing to buy out minority shareholders in a deal valuing the company at £885 million ($1.2 billion). Lord Rothermere, whose great grandfather founded the newspaper empire in 1896, announced the buyout bid for
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By Brian Fung and Geneva Sands, CNN Business A vague and viral TikTok trend warning of nationwide school violence on Friday — which authorities have dismissed as not credible — has nevertheless prompted widespread school closures, stretched law enforcement resources and put families on edge ahead of a critical holiday travel season. A number of
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By Chris Isidore, CNN Business The nation’s labor shortage just cost FedEx $470 million in its most recent quarter. But its executives believe the hiring situation is going to get better soon. Although FedEx’s revenue was up nearly $3 billion to $23.5 billion in the quarter ended November 30, its adjusted income was essentially unchanged.
Continue Reading By Samantha Murphy Kelly, CNN Business “We’re about to be joined by a very important customer,” said Christian Braun, CEO of collectible e-commerce company hobbyDB, during a recent Zoom meeting with his marketing team. “Over to you, Nick.” That’s St. Nick, actually. A jolly ho-ho-ho-ing Santa entered the virtual room ringing a bell and turning
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By Matt Egan, CNN Business Consumer prices are already rising at the fastest pace in nearly 40 years. Inflation may get worse before it gets better and that would further erode support for President Joe Biden’s Build Back Better legislation, Goldman Sachs says. The Wall Street bank told clients Thursday that the chances Biden’s signature
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By Charles Riley, CNN Business Unnerved by surging prices, the Bank of England on Thursday became the first major central bank to hike interest rates since the pandemic began. The US Federal Reserve will follow in the coming months, with three rate hikes expected next year. You can quibble over the timing or the size
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By Chris Isidore, CNN Business Kellogg says it has reached a second tentative agreement with the union representing 1,400 workers who have been on strike since early October. But the 10-week-long strike will continue until rank-and-file membership at the union ratify the agreement. Membership voted against a previous deal reached two weeks ago, which extended
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