By Anneken Tappe, CNN Business Bitcoin is among the most polarizing investments in history. Ask a skeptic, and they’ll tell you it’s a bubble that’s about to pop. Ask a believer, and they’ll tell you it’s a bubble that will keep expanding forever. Mike Novogratz, founder and CEO of crypto fund Galaxy Digital, is among
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By Anneken Tappe, CNN Business Wall Street logged its worst month of the year in September, and also ended its final trading day of the quarter in the red. Stocks have been extremely choppy in September, as investors grappled with an abundance of issues: high inflation expectations, rising bond yields, the pace of the economic
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By Chris Isidore, CNN Business Employer Covid-19 vaccine mandates have become increasingly common. So has public acceptance, but opposition to some of those rules remains strong. A series of recent survey questions show a clear majority is on board with various groups of workers, such as health care workers, government employees or teachers, being required
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By Chris Isidore, CNN Business Macy’s flagship store on 34th Street in Manhattan — arguably the most nation’s most prominent department store — is under fresh assault from Amazon, which reportedly wants to advertise on the massive billboard adjacent to the store. And Macy’s is fighting back, going to court to argue the company would
Continue Reading By Chris Isidore, CNN Business Macy’s flagship store on 34th Street in Manhattan — arguably the most nation’s most prominent department store — is under fresh assault from Amazon, which reportedly wants to advertise on the massive billboard adjacent to the store. And Macy’s is fighting back, going to court to argue the company would
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By Nathaniel Meyersohn, CNN Business Have an instant craving for a bag of chips or ice cream and don’t want to run out to the store? A new breed of startups in the United States is trying to deliver to customers with the munchies in as little as 10 minutes. Companies such as Gopuff, Gorillas,
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By Nathaniel Meyersohn, CNN Business Amazon has reached a settlement with two former employees who claimed they were illegally fired after speaking out against the company. Two former Amazon corporate workers, Emily Cunningham and Maren Costa, said that Amazon fired them last year after they organized workers around climate action and warehouse conditions during the
Continue Reading By Nathaniel Meyersohn, CNN Business Amazon has reached a settlement with two former employees who claimed they were illegally fired after speaking out against the company. Two former Amazon corporate workers, Emily Cunningham and Maren Costa, said that Amazon fired them last year after they organized workers around climate action and warehouse conditions during the
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By Samantha Murphy Kelly, CNN Business A Facebook executive was grilled by Senators on Thursday about the impact its apps have on younger users, two weeks after an explosive report indicated the company was aware that Facebook-owned Instagram could have a “toxic” effect on teen girls. The hearing, featuring Facebook’s global head of safety, Antigone
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By Samantha Murphy Kelly, CNN Business A Facebook executive was grilled by Senators on Thursday about the impact its apps have on younger users, two weeks after an explosive report indicated the company was aware that Facebook-owned Instagram could have a “toxic” effect on teen girls. The hearing, featuring Facebook’s global head of safety, Antigone
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By Anna Bahney, CNN Business The days of rent discounts and “pandemic pricing” are over as rents across the US climb back up. The national median rent rose to $1,302 in September, up 15% from a year ago, according to a report from Apartment List, a rental listing site. After falling for much of 2020,
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By Jordan Valinsky, CNN Business Shares of Bed Bath & Beyond plunged nearly 30% in early trading Thursday after the retailer revealed that foot traffic “slowed significantly” in August, pummeling its second-quarter earnings. CEO Mark Tritton said in a release that the chain’s sales were solid in June, but then nosedived in the following two
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Opinion by Jacob J. Lew for CNN Business Perspectives Imagine you’re out to dinner. At the end of the meal, you pay your bill, which helps meet the restaurant’s food, rent and wage costs. But some customers slip out without paying. They disappear into the night, leaving the business to pay the same expenses with
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By Jordan Valinsky, CNN Business McDonald’s has set a return date for the McRib. The limited-time offering is returning to menus nationwide on November 1, McDonald’s announced Thursday. This year marks the 40th anniversary of the McRib, which was a dud on its debut but has bounced back to become a fan-favorite menu item. The
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By Kerry Flynn, CNN Business Around midnight one Saturday late last year, Eva Rodriguez, 24, had trouble breathing. She lost her vision, started sweating and felt a sharp pain in her stomach. She worried she was having a heart attack. For two weeks leading up to that night, Rodriguez said recently, she had been working
Continue Reading By Kerry Flynn, CNN Business Ozy Media announced on Friday that it will cease operations. The decision comes five days after the The New York Times published a bombshell report about its business practices, which kicked off additional scrutiny from other media outlets. “At Ozy, we have been blessed with a remarkable team of dedicated
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By Walé Azeez, CNN Business Millions of people across Europe may not be able to afford to heat their homes this winter as gas and electricity prices soar. Experts, anti-poverty organizations and environmental campaigners are warning that the coronavirus pandemic and rising prices have intensified a longstanding problem tied to a combination of high energy
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By Julia Horowitz, CNN Business A resilient stock market, fueled by central bank and government stimulus, is pushing a record number of companies to raise money by offering shares on public markets. That’s been a huge boon for the Wall Street banks orchestrating the deals. “I honestly thought last year would be the busiest in
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By Charles Riley, CNN Business A fuel crisis that threatened to stop the world’s fifth largest economy in its tracks appears to be easing. For nearly a week, British motorists have found service stations closed and long lines at those that still had gasoline and diesel. The shortages provoked an angry response from some members
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By Jill Disis, CNN Business Factories in China are struggling at a time when the world’s second largest economy has to contend with yet another concern: a growing power supply crunch. A government survey of manufacturing activity released Thursday fell to 49.6 in September, down from 50.1 in August. Any reading below 50 indicates contraction
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