By Julia Horowitz, CNN Business The growing clout of everyday investors has shaken up Wall Street, forcing hedge funds and big-time asset managers to start paying attention to armchair traders pumping their extra cash into the market. But after a blockbuster start to the year, when traders coordinating on social media sparked a wild rally
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By Matt Egan, CNN Business Venture capitalist Roger McNamee says Corporate America shares blame for the troubles that exist today at Facebook. “What they are doing is willfully turning a blind eye to catastrophic problems that would not exist if they were not willing to advertise on these platforms,” McNamee, an early investor in Facebook,
Continue Reading By Matt Egan, CNN Business Venture capitalist Roger McNamee says Corporate America shares blame for the troubles that exist today at Facebook. “What they are doing is willfully turning a blind eye to catastrophic problems that would not exist if they were not willing to advertise on these platforms,” McNamee, an early investor in Facebook,
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By Sara Ashley O’Brien, CNN Business The high-profile trial of Theranos founder Elizabeth Holmes was delayed multiple times before kicking off last month. Now there are questions about whether there will be enough jurors to get through the second half of the trial. When the trial started on September 8, 12 jurors and five alternates
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By Anneken Tappe, CNN Business From supply chain chaos to worker shortages, America’s economic recovery ran into some serious challenges in the third quarter of the year. Economists polled by Refinitiv expect that between July and September America’s economy grew at the slowest pace since the recovery began — an annualized rate of 2.7% —
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By Diksha Madhok, CNN Business Shiba inu coin soared to a new record on Wednesday, capping a surge of over 60,000,000% over the past year. The parody cryptocurrency — which appears to be inspired by dogecoin, another meme cryptocurrency — is up almost 30% over the past 24 hours, according to CoinGecko. It has pared
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By Laura He, CNN Business Beijing is making one thing clear to the country’s embattled property developers: Pay your debts. All of them. Two major economic and finance agencies on Tuesday called on companies in “key industries” to redeem the principal and interest on their overseas bonds, according to a government statement. Regulators from the
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By Jill Disis, CNN Business Washington is barring a major Chinese state-owned telecommunications firm from operating in the United States over national security concerns — an action that threatens to once again increase tensions between the world’s two largest economies. The US Federal Communications Commission on Tuesday said it has ordered China Telecom to discontinue
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By Jordan Valinsky, CNN Business Several small SUVs struggled in a new side crash test conducted by the Insurance Institute for Highway Safety, with just one out of the 20 vehicles tested earning the agency’s highest rating. This year’s results included an updated side crash test that uses a heavier 4,180-pound barrier traveling at 37
Continue Reading By Jordan Valinsky, CNN Business Several small SUVs struggled in a new side crash test conducted by the Insurance Institute for Highway Safety, with just one out of the 20 vehicles tested earning the agency’s highest rating. This year’s results included an updated side crash test that uses a heavier 4,180-pound barrier traveling at 37
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By Donie O’Sullivan, Clare Duffy, Tara Subramaniam and Sarah Boxer, CNN Business In public, Facebook has touted the resources it has dedicated to tackling Covid-19 and vaccine misinformation, even scolding US President Joe Biden for his harsh criticism of the company’s handling of the issue. In doing so, it claimed that “more than 2 billion
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By Rachel Metz, CNN Business In late 2017, Facebook had a big problem: users were commenting on, “liking” and resharing posts less than they had in the past. The declines in engagement, visualized in charts on an internal document viewed by CNN Business, looked like wiggly black-and-blue frowns. Facebook decided to make a change —
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By Julia Chatterley Calls for increased regulation of Facebook continue to grow louder after leaked internal documents became public and whistleblower Frances Haugen’s testimony showed that the social media platform has repeatedly failed to rein hate speech and misinformation. On Friday, a consortium of 17 US news organizations began publishing stories — collectively called “The
Continue Reading By Julia Chatterley Calls for increased regulation of Facebook continue to grow louder after leaked internal documents became public and whistleblower Frances Haugen’s testimony showed that the social media platform has repeatedly failed to rein hate speech and misinformation. On Friday, a consortium of 17 US news organizations began publishing stories — collectively called “The
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By Eoin McSweeney and Adam Pourahmadi, CNN Business A small group of ultra-wealthy individuals could help solve world hunger with just a fraction of their net worth, says the director of the United Nations’ World Food Programme. Billionaires need to “step up now, on a one-time basis”, said David Beasley in an interview on CNN’s
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By Peter Valdes-Dapena, CNN Business Land Rover just unveiled what will be the first new, redesigned Range Rover in a decade. This is only the fifth generation of the large off-road luxury SUV since the model was introduced in 1970. A sleek new design, with smoothed off corners and edges, retains the classic proportions, but
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By Frank Pallotta, CNN Business The Dune story continues. Warner Bros. announced on Tuesday that “Dune: Part Two,” the sequel to this weekend’s No. 1 film, will hit theaters in two years. The movie is set to be released on October 20, 2023. The first installment of “Dune,” a science-fiction epic starring Timothée Chalamet, notched
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By Jackie Wattles, CNN Business A SpaceX Crew Dragon capsule is slated to take a group of professional astronauts to space this weekend. But first, NASA must look over and approve some changes SpaceX made to address some issues with a key component — the toilet. A problem with the Crew Dragon toilet was first
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By Jackie Wattles, CNN Business Issues with the toilet on board SpaceX’s Crew Dragon capsule will leave a group of four astronauts without a bathroom option during their hours-long trip back home from the International Space Station aboard the 13-foot-wide capsule this month. Instead, the crew will have to rely on “undergarments,” Steve Stich, NASA’s
Continue Reading By Eoin McSweeney and Adam Pourahmadi, CNN Business A small group of ultra-wealthy individuals could help solve world hunger with just a fraction of their net worth, says the director of the United Nations’ World Food Programme. Billionaires need to “step up now, on a one-time basis”, said David Beasley in an interview on CNN’s
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