By Laura He, CNN China’s economy expanded by just 3% in 2022, far below the government’s own target, marking one of the worst performances in nearly half a century. Growth was impacted heavily by months of widespread Covid lockdowns and a historic downturn in the property market. Still, the number came in slightly better than
Continue Reading By Diksha Madhok, CNN Getting urgent work emails from colleagues even during vacation? This is a common occurrence for many white-collar workers, especially in India where employees feel overworked and underpaid compared to their global peers, according to several studies over the years. But one Mumbai-based firm has come up with a novel way to
Continue Reading By Kristen Holmes, CNN Former President Trump’s campaign sent a letter to Facebook’s parent company, Meta, Tuesday petitioning them to unblock his Facebook account, a source familiar with the letter tells CNN. NBC first reported the news. Trump’s Facebook and Twitter accounts were blocked following the January 6, 2021, attack on the US Capitol. Facebook
Continue Reading Story by Donie O’Sullivan, Clare Duffy, Kristen Holmes, Gabby Orr and Brian Fung Video by Zach Wasser and John General Facebook-parent Meta is preparing to announce one of the most consequential decisions in the company’s history, a landmark move that will set a precedent for online speech and could affect the course of the 2024
Continue Reading By Tami Luhby and Celina Tebor, CNN The law firm for a union representing licensed practical nurses (LPNs) in New York City sent a cease-and-desist letter to Montefiore Medical Center alleging the health care system involuntarily redeployed LPNs to replace striking nurses in violation of their collective bargaining agreement. In a letter sent Tuesday to
Continue Reading By David Goldman, CNN The Walt Disney Company has named Nike executive chairman Mark Parker as its new board chair, replacing longtime director Susan Arnold, whose term limit is expiring. Parker, a Disney board member since 2016, takes over Disney’s board at a time of transition for America’s largest media company. Bob Iger recently returned
Continue Reading By Matt Egan, CNN BlackRock, the world’s largest asset manager, is cutting about 500 jobs following a period of rapid hiring. A spokesperson for BlackRock told CNN on Wednesday that the layoffs amount to less than 3% of the company’s workforce. BlackRock, a leader on Wall Street, has been on a major hiring spree in
Continue Reading By Oliver Darcy, CNN Business CNN on Wednesday announced a revamped dayside programming lineup that the network said will employ a new format for shows to deliver the news to viewers. The cable news channel — which has been led since last spring by a new chairman and chief executive, Chris Licht — said in
Continue Reading By Clare Duffy, CNN A law firm representing dozens of former UK Twitter employees is accusing the company of “unlawful, unfair and completely unacceptable treatment” of workers following recent mass layoffs, which the firm referred to as a “sham redundancy process.” In a letter sent to the company on Monday, law firm Winckworth Sherwood alleged
Continue Reading By Jeanne Sahadi, CNN The pandemic has transformed work over the past three years in ways few expected. It normalized remote work, created a shortage of critical workers and drove home to organizations that employees’ mental health and need for a sane work-life balance are critical to retention and engagement. So what does 2023 likely
Continue Reading By Matt Egan The federal government isn’t going to take away your gas stove, a top consumer regulator told CNN on Wednesday. Richard Trumka Jr, a US Consumer Product Safety commissioner, set off a firestorm this week by suggesting the agency could ban gas stoves because they have been linked to childhood asthma. Trumka confirmed
Continue Reading By Matt Egan The federal government isn’t going to take away your gas stove, a top consumer regulator told CNN on Wednesday. Richard Trumka Jr, a US Consumer Product Safety commissioner, set off a firestorm this week by suggesting the agency could ban gas stoves because they have been linked to childhood asthma. Trumka confirmed
Continue Reading By Oliver Darcy, CNN Business NBC News president Noah Oppenheim will exit the network as part of a restructuring announced Wednesday that will replace his role with three executives, including Rebecca Blumenstein, a deputy managing editor of The New York Times. Blumenstein, who has a lengthy history working in print and digital, but notably lacks
Continue Reading By Brian Fung, CNN President Joe Biden called on members of Congress Wednesday to set aside partisan differences and pass groundbreaking legislation to rein in Big Tech, focusing on digital privacy, antitrust and the industry’s liability shield, Section 230 of the Communications Decency Act. In a Wall Street Journal op-ed, Biden said that despite making
Continue Reading By Catherine Thorbecke, CNN Workers at Apple’s first unionized retail store began collectively bargaining with management on Wednesday, in a milestone moment not only for the iPhone company but for all of Big Tech. Apple store workers in Towson, Maryland, who made history in June by voting to form the first union at one of
Continue Reading By Paul R. La Monica, CNN Netflix had the kind of year in 2022 that only the ghoulishly morbid Wednesday Addams would love. But, now, in part due to a sagging dollar, the picture is getting brighter. Netflix shares plunged more than 50% last year due to concerns about streaming subscription fatigue, increased competition from
Continue Reading By Brian Fung and Christopher Hickey, CNN More than half of all US states have partially or fully banned TikTok from government devices, according to a CNN analysis, reflecting a wave of recent clampdowns by governors and state agencies targeting the short-form video app. The accelerating backlash by states against TikTok, which has at least
Continue Reading By Vanessa Yurkevich, CNN Jerome Yankey said he used to pull all-nighters when he was in college — not studying or partying, but scrolling on TikTok until the sun came up. “I saw me not putting the effort into my own life, rather just trying to live vicariously through what I’m seeing,” said 23-year old
Continue Reading By Allison Morrow, CNN FTX officials overseeing its bankruptcy have recovered more than $5 billion in cash and other liquid assets that may be used to help repay creditors, a lawyer for the failed crypto firm said during a bankruptcy court hearing Wednesday. That disclosure significantly raises the estimated amount of funds FTX claims to
Continue Reading By Julia Horowitz, CNN Business executives, politicians and academics are bracing for a gloomy world battered by intersecting crises, as rising volatility and depleted resilience boost the odds of painful simultaneous shocks. In its annual survey of risks published Wednesday, the World Economic Forum found that more than 80% of respondents expected either “persistent crises”
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