By Jennifer Korn, CNN Business A staggering $1.9 billion worth of cryptocurrency was stolen in hacks of various services in the first seven months of this year, marking a 60% increase from the same period in the year prior, according to a report released Tuesday from blockchain analysis firm Chainalysis. The surge comes even as
Continue Reading By Brian Fung, CNN More than a dozen companies in the cybersecurity space are developing a single, open standard for sharing data about hacking threats, a project the companies say could help organizations detect cyberattacks more quickly. The initiative, which involves Amazon, Cloudflare, CrowdStrike, IBM, Okta and Salesforce, among others, aims to solve a critical
Continue Reading By Oliver Darcy, CNN Business Media critic Margaret Sullivan is retiring her acclaimed column and leaving The Washington Post this month. “Working at the legendary Washington Post has been one of the greatest privileges of my life,” Sullivan said in a memo sent to her colleagues at The Post. “I’m so grateful to my editors
Continue Reading By Parija Kavilanz, CNN Business Kohl’s can’t seem to catch a break, and it may have only itself to blame. The department store chain on Thursday presented a dour outlook for 2022, saying it expects full-year sales to fall 5% to 6% compared to a year ago and blaming high inflation for preventing shoppers —
Continue Reading Martha C. White for CNN Business Runaway inflation took a breather in July, with consumer prices increasing by 8.5% year over year, a slower pace than the 9.1% increase in June, the Bureau of Labor Statistics reported Wednesday. On a month-to-month basis, inflation was 0%, compared to the 1.3% increase in June. Prices began rising
Continue Reading Opinion by Mike Litt for CNN Business Perspectives America’s credit reporting system is broken. We saw the latest evidence of this last week, when news broke that Equifax sent lenders millions of incorrect credit scores, some of which were off by at least 25 points, for consumers applying for auto loans, mortgages and credit cards.
Continue Reading By Danielle Wiener-Bronner, CNN Business Coca-Cola’s latest experimental, limited-time flavor is here. It’s called … wait for it … Dreamworld. And it tastes like … dreams? “We wanted to create a dream-inspired drink that was recognizably Coca-Cola but with additional cues that bring to life the playfulness and brightness of dreams,” a company spokesperson said
Continue Reading By Parija Kavilanz, CNN Business Trendy eyewear brand Warby Parker is the latest in a string of retailers struggling to stay the course as a wobbly economy forces households to pare back and rethink their discretionary buying. Warby Parker, which pioneered the direct-to-consumer model for stylish eyewear under $100, announced job cuts to its staff
Continue Reading By Paul R. La Monica, CNN Business Is the crypto winter finally over? (And in the scorching heat of summer no less?) Bitcoin prices have stabilized around the $23,000 to $24,000 level after plunging below $20,000 in June. The prices of ethereum and other leading digital currencies have also rallied in the past two months,
Continue Reading By Laura He, CNN Business US gaming software developer Unity is partnering with some of the biggest names in China tech to establish a billion-dollar joint venture aimed at growing its business in the world’s largest market for online games. The venture will “unlock new opportunities” to enhance cooperation with local companies and increase its
Continue Reading By Chris Isidore, CNN Business Tesla CEO Elon Musk sold 7.9 million shares of Tesla in recent days, raising $6.9 billion with the sales. The sales from Friday through Tuesday were disclosed in a series of filings with the Securities and Exchange Commission late Tuesday night. They mark the first sale of Tesla shares by
Continue Reading By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Fox News largely refrains from criticizing Donald Trump. But, in private, Lachlan Murdoch has denounced some of the former President’s behavior in harsh terms. In private this year, the Fox
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The Boone County Sheriff’s Office is warning about the latest phone scam where scammers are posing as a deputy and attempting to steal the victim’s money.
Continue Reading By Peter Valdes-Dapena, CNN Business Ford on Thursday will once again begin taking orders for its popular F-150 Lightning electric pickup truck. But this time the base model of the pickup will cost about $7,000 more than before. When the Lightning first went on sale, the Pro version — the base model intended mostly as
Continue Reading By Rishi Iyengar, CNN Business The technological arms race between the United States and China has cut across everything from smartphones and cellular equipment to social media and artificial intelligence. But a new battleground is emerging that goes a layer deeper: to the components that power our smartphones, computers, automobiles and home appliances. President Joe
Continue Reading By Rishi Iyengar, CNN Business The technological arms race between the United States and China has cut across everything from smartphones and cellular equipment to social media and artificial intelligence. But a new battleground is emerging that goes a layer deeper: to the components that power our smartphones, computers, automobiles and home appliances. President Joe
Continue Reading By Clare Duffy, CNN Business Kaicheng Yang, a researcher at Indiana University’s Observatory on Social Media, received quite the surprise last week. Botometer, a tool he helped build to examine automated activity on Twitter, had been mentioned in court documents in the legal battle between Twitter and Elon Musk over their $44 billion acquisition deal.
Continue Reading By Samantha Murphy Kelly, CNN Business Snapchat on Tuesday introduced its first parental control center, nearly 10 months after an executive from the company told Congress it was developing tools aimed at helping parents keep their teens safe. The new tool, called Family Center, promises to give parents more insight into who their teenagers are
Continue Reading By Paul R. La Monica, CNN Business Crypto brokerage Coinbase has been hit hard by the meltdown in bitcoin prices this year. The stock has plunged 65% so far in 2022. And the company’s latest earnings, due out after the closing bell Tuesday, are likely to be miserable. Wall Street is forecasting a more than
Continue Reading Opinion by Sarah Anderson and Rebekah Entralgo for CNN Business Perspectives Imagine if America’s ultra-wealthy invested the financial gains they made during the pandemic in affordable housing, child care centers or any of our country’s other urgent human needs. As of May, US billionaires had seen their wealth rise by more than $1.7 trillion —
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