By Paul R. La Monica, CNN Business This year has so far been miserable for investors in social media companies. Shares of Facebook and Instagram owner Meta Platforms have plunged more than 40% so far in 2022. Investors are concerned about CEO Mark Zuckerberg’s plans to transform the company into a metaverse player … whatever
Continue Reading By Chris Isidore, CNN Business Russia’s invasion of Ukraine is a major reason that US drivers are paying record prices for gasoline. But it’s not the only cause of the spike. Numerous factors are pushing prices up, with regular gasoline hitting a record $4.87 a gallon Monday according to AAA’s survey — up 25 cents
Continue Reading By Nicole Goodkind, CNN Business The pandemic brought a wave of new investors into the stock market. And now those newbies are facing their first major market downturn. Some Millennials and Gen Z-ers found themselves jobless and bored during peak Covid, yet flush with sudden access to cash through stimulus programs and increased federal unemployment
Continue Reading By Matt Egan The gas price spike keeps getting worse. The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month. There are now 10 states where the average price of gasoline is $5 a gallon or higher,
Continue Reading By Chris Isidore, CNN Business Tesla may not be cutting staff after all. That’s according to a tweet from its ever-mercurial CEO Elon Musk — an apparent contradiction to two emails he sent staff last week about planned job cuts and a hiring freeze, which pushed Tesla shares lower. Last Thursday, according to a Reuters
Continue Reading By Brian Fung, CNN Business Elon Musk issued his most direct threat yet to walk away from his purchase of Twitter on Monday, openly accusing the social media company of breaching the merger agreement by not providing the data he has requested on spam and fake accounts. In a letter to Twitter’s head of legal,
Continue Reading By Zoe Sottile, CNN Tattooed crew members at British airline Virgin Atlantic are now welcome to show off their ink while in uniform. The airline updated its policy regarding tattoos on Tuesday, according to a news release. They claim they are “the first UK airline to allow visible tattoos.” “Until today, any uniformed Virgin Atlantic
Continue Reading By Matt Egan The gas price spike keeps getting worse. The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month. There are now 10 states where the average price of gasoline is $5 a gallon or higher,
Continue Reading By Matt Egan The gas price spike keeps getting worse. The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month. There are now 10 states where the average price of gasoline is $5 a gallon or higher,
Continue Reading By Anna Cooban, CNN Business Thousands of UK workers are starting a four-day work week from Monday with no cut to their pay in the largest trial of its kind. The pilot, which will last for six months, involves 3,300 workers spanning 70 companies, ranging from providers of financial services to a fish-and-chip restaurant. During
Continue Reading Opinion by Karin Kimbrough for CNN Business Perspectives Young workers who entered the US job market in the throes of the pandemic in 2020 faced an uphill battle. Hiring on LinkedIn dropped off dramatically, and widespread layoffs hit Gen Z more severely than most other groups. Fast forward two years, and the picture looks much
Continue Reading By Julia Horowitz, CNN Business Late last week, Microsoft — the second largest public company in the United States — leveled with its investors. Earnings for the current quarter, it warned, would not be as strong as it had hoped. What’s happening: Microsoft now expects revenue of between $51.9 billion and $52.7 billion between April
Continue Reading By Samantha Murphy Kelly, CNN Business Apple kicked off its annual developer conference by unveiling its next-generation mobile software, iOS 16, with new features that will let users personalize their iPhone lock screens, change how they text friends through iMessage and deepen how its smartphones integrate with cars. These and other updates, which were unveiled
Continue Reading By Anna Cooban, CNN Business Thousands of UK workers are starting a four-day work week from Monday with no cut to their pay in the largest trial of its kind. The pilot, which will last for six months, involves 3,300 workers spanning 70 companies, ranging from providers of financial services to a fish-and-chip restaurant. During
Continue Reading By Michelle Toh, CNN Business Didi’s regulatory nightmare in China may be nearly over. That’s according to the Wall Street Journal, which reported Monday, citing unidentified sources, that Beijing’s cybersecurity review of the ride-hailing giant was about to wrap up. The move would allow Didi to return to app stores in mainland China, potentially as
Continue Reading By Kathleen Magramo, CNN A television commercial for a male body spray has been taken off the air in India, after critics said it made light of gang rape. Bollywood celebrities including Priyanka Chopra, Richa Chadha and Farhan Akhtar are among those to have lambasted the commercial for Layer’r Shot, a brand of male fragrance,
Continue Reading By Ramishah Maruf, CNN When Bob Woodward and Carl Bernstein published their groundbreaking Watergate reporting that led to the resignation of former President Richard Nixon in 1974, the duo thought he would be the last president to openly defy the Constitution and the law. “And then, as we say, along came Trump,” Woodward said on
Continue Reading By Ramishah Maruf, CNN When Bob Woodward and Carl Bernstein published their groundbreaking Watergate reporting that led to the resignation of former President Richard Nixon in 1974, the duo thought he would be the last president to openly defy the Constitution and the law. “And then, as we say, along came Trump,” Woodward said on
Continue Reading By Ramishah Maruf, CNN Starbucks workers at an Ithaca, New York, store claim their location is being shut down in retaliation for their union activism. The worker committee said it is filing an Unfair Labor Practice charge with the National Labor Relations Board, alleging that Starbucks is making a “clear attempt to scare workers across
Continue Reading By Frank Pallotta, CNN Business A week after taking off at the box office, “Top Gun: Maverick” is still flying high. The sequel to the 1986 blockbuster — which has Tom Cruise‘s Pete “Maverick” Mitchell teach a new set of recruits about the need for speed — made an estimated $86 million domestically in its
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