By Paul R. La Monica, CNN Business When PayPal split off from eBay a few years ago, eBay was considered to be the less exciting company. But that’s certainly not the case on Wall Street this year. Shares of eBay have surged more than 30% this year, while PayPal has stumbled more than 20%. The
Continue Reading
By Nathaniel Meyersohn, CNN Business Few companies have gained more of an advantage during the pandemic than America’s warehouse club giants. During the early days of Covid, shoppers flooded into Costco, BJ’s and Sam’s Club — which were deemed “essential” businesses and stayed open through lockdowns — to load up on groceries and household staples
Continue Reading
By Brian Fung, CNN Business Twitter acknowledged on Friday that a new policy it unveiled this week to protect users from harassment is being abused by malicious actors — days after journalists, left-wing activists and self-described “sedition hunters” reported their accounts had been locked for sharing publicly available images of anti-maskers, anti-vaccine protesters and suspected
Continue Reading
By Matt Egan, CNN Business President Joe Biden has already launched the biggest intervention into energy markets in a decade. Big Oil is nervous he’s not nearly done yet. For weeks, Democrats have been calling for Biden to go even further than releasing strategic oil reserves by banning US oil companies from shipping oil overseas.
Continue Reading
By Ramishah Maruf, CNN Business Some people think cilantro is delicious. To others it tastes like soap. And now Chipotle is bringing both sides together. Chipotle launched a $8 Cilantro Soap bar, made of organic oils and coriander essential oil — and it’s already sold out a day after launch. The strange and silly stocking
Continue Reading
By Peter Valdes-Dapena, CNN Business As Elon Musk wrapped up his presentation of the Tesla Cybertruck back in November 2019, he had one more thing he still wanted to show off. “Oh, yeah. We also made an ATV,” he said, as if he had nearly forgotten about it. A rider came out in an electric
Continue Reading
Reuters Tesla is under regulatory investigation after a whistleblower alleged the company failed to properly disclose fire risks associated with solar panel defects. The investigation raises regulatory pressure on the world’s most valuable automaker, which already faces a federal safety probe into accidents involving its driver assistant systems. Concerns about fires from Tesla solar systems
Continue Reading By Ramishah Maruf, CNN Business Some people think cilantro is delicious. To others it tastes like soap. And now Chipotle is bringing both sides together. Chipotle launched a $8 Cilantro Soap bar, made of organic oils and coriander essential oil — and it’s already sold out a day after launch. The strange and silly stocking
Continue Reading
By Allison Morrow, CNN Business Mark Cuban, owner of the Dallas Mavericks, is having a Johnny Rose moment. The billionaire just bought the entire town of Mustang, Texas — a blip on the map off I-45, with a population of 21 people, according to the latest census data. The reason, Cuban told the Dallas Morning
Continue Reading
By Julia Horowitz, CNN Business The era of big Chinese companies heading to the United States to raise money may have just come to an end. What’s happening: China’s Didi announced Friday that it will “immediately” start the process of delisting from the New York Stock Exchange and pivot to Hong Kong. Coming just months
Continue Reading
By Peter Valdes-Dapena, CNN Business Startup automakers, like Lucid and Rivian, often make the point that, as Tesla has shown, electric car shoppers are open to trying new brands. What’s true for startups, though, is also true for big automakers like Ford, General Motors and Volkswagen. For those long-established car companies, new electric vehicles are
Continue Reading
Opinion by Gad Levanon for CNN Business Perspectives Three important trends are likely to dominate the US labor market in 2022: the ongoing economic recovery from the pandemic, the severe labor shortage, and the increasing adjustment to remote work. But there is one wildcard that could upend everything: A new Covid-19 surge, driven by Omicron
Continue Reading
By Paul R. La Monica, CNN Business What an end to a tumultuous week on Wall Street. Friday kicked off with disappointing news as just 210,000 jobs were added last month, much lower than expected. Stocks initially opened higher before dipping into the red. Investors were clearly hoping for better jobs numbers. After all, the
Continue Reading
By Anna Bahney, CNN Business There is still emergency rental assistance available for those struggling to cover their rent because of the pandemic. But some of that aid will soon be shifted to places that have run out of funds and still have people in need of help. The US Department of Treasury will begin
Continue Reading
By Ramishah Maruf, CNN Business Better.com CEO Vishal Garg announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar Wednesday abruptly informing the more than 900 employees on the call they were being terminated just before the holidays. “If you’re on this call, you are part of the unlucky
Continue Reading By Julia Horowitz, CNN Business The era of big Chinese companies heading to the United States to raise money may have just come to an end. What’s happening: China’s Didi announced Friday that it will “immediately” start the process of delisting from the New York Stock Exchange and pivot to Hong Kong. Coming just months
Continue Reading
By Anneken Tappe, CNN Business The November jobs report looked disappointing at first glance, but the details show that the recovery is very much moving along. US employers added another 210,000 jobs to the economy in November, far fewer than expected, the Bureau of Labor Statistics reported Friday. It was the smallest number of jobs
Continue Reading
By Angela Dewan and Julia Horowitz, CNN Business Shell has pulled out of a controversial oil project in Scotland that was strongly opposed by climate activist groups. The company said its decision was based on the economics of the project and the risk of delays, and that it remained committed to its oil and gas
Continue Reading
By Oliver Darcy, CNN Business Dr. Anthony Fauci on Thursday night called out Fox News for staying silent after one of its personalities and streaming hosts, Lara Logan, compared him to an infamous Nazi doctor. Speaking on MSNBC with host Chris Hayes, Fauci said, “What I find striking, Chris, is how she gets no discipline
Continue Reading
By Laura He, CNN Business Didi said Friday that it would “immediately” start the process of delisting from the New York Stock Exchange and pivot to Hong Kong, just months after its disastrous IPO. “After a careful study, the company will start delisting on the New York Stock Exchange immediately, and start preparations for listing
Continue Reading