By Samantha Murphy Kelly, CNN Business Apple is about to hold its annual developer conference this week where it’s expected to show off new software coming to its most popular devices and possibly offer the biggest hint yet about a new product long rumored to be in development. At its Worldwide Developers Conference, which kicks
Continue Reading By Danielle Wiener-Bronner, CNN Business Non-alcoholic alternatives to booze have been around for a while. But recently, the sector has been booming. For a long time “you had ‘near beer,’ which was kind of a joke,” said Duane Stanford, editor of Beverage Digest. “People would be discreet about drinking them. And now that’s completely changed.”
Continue Reading By Paul R. La Monica, CNN Business For many average investors, the price of just one Amazon share has been prohibitively expensive. There are a lot of things a person can spend about $2,500 on instead of one tiny piece of “Prime” stock market real estate. A nice vacation? That home entertainment system? Season tickets
Continue Reading By Danielle Wiener-Bronner, CNN Business Non-alcoholic alternatives to booze have been around for a while. But recently, the sector has been booming. For a long time “you had ‘near beer,’ which was kind of a joke,” said Duane Stanford, editor of Beverage Digest. “People would be discreet about drinking them. And now that’s completely changed.”
Continue Reading By Ramishah Maruf, CNN Cryptocurrency scammers have stolen over $1 billion from 46,000 people since the start of 2021, a new Federal Trade Commission report says. The FTC rang the alarm bells on Friday, saying crypto-related crimes amount to about one out of every four dollars reported lost to fraud — more than any other
Continue Reading By Jackie Wattles, CNN Business A rocket built by Jeff Bezos’ Blue Origin carried its fifth group of passengers to the edge of space, including the first-ever Mexican-born woman to make such a journey. The 60-foot-tall suborbital rocket took off from Blue Origin’s facilities in West Texas at 9:26am ET, vaulting a group of six
Continue Reading By Parija Kavilanz, CNN Business Many working parents who rely on local summer camps to keep their kids busy when school’s out for the summer won’t have that option this year because of a serious staffing shortage. The start of summer vacation has arrived, but instead of preparing to welcome campers, several camps have had
Continue Reading By Nathaniel Meyersohn, CNN Business Gas station bathrooms are the last place most people want to stop to do their business. But that wasn’t always the case. Spotless bathrooms were once a crucial selling point for gas stations. In fact, oil giants’ gas station ads in the early and mid-20th century assured travelers that their
Continue Reading By Peter Valdes-Dapena, CNN Business The Michigan-based arm of the international automaker Stellantis has pleaded guilty and agreed to pay $300 million in penalties to settle an investigation into alleged cheating on emissions tests for some of its diesel-powered vehicles. The vehicles in question are more than 100,000 diesel-powered Jeep Grand Cherokee SUVs and Ram
Continue Reading By Catherine Thorbecke, CNN Business Dave Clark, Amazon’s Worldwide Consumer CEO, is resigning after 23 years at the e-commerce giant. Amazon announced Clark’s resignation, effective July 1, in a regulatory filing with the US Securities and Exchange Commission Friday. In a tweet, Clark said: “I’ve had an incredible time at Amazon but it’s time for
Continue Reading The pandemic pushed over 2.6 million more people into retirement than projected, according to the Federal Reserve Bank of St. Louis. The reasons for the early exits varied: some workers saw an unexpected financial boost from the strong stock market and high home prices, others were laid off or left their jobs over health and
Continue Reading Opinion by Kara Alaimo for CNN Business Perspectives Earlier this week, Tesla CEO Elon Musk sent emails announcing that the company’s employees all have to be in the office full time — or else. “Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40
Continue Reading By Julia Horowitz, CNN Business In recent years, when a company announced it was splitting its stock, Wall Street went wild. When Tesla revealed such plans in 2020, its shares immediately shot up. They climbed 66% over the following 12 months. But as concerns about the Federal Reserve, inflation and the economy plague investors, those
Continue Reading By Peter Valdes-Dapena, CNN Business A Jeep Wrangler tipped over onto its side during a crash test by the Insurance Institute for Highway Safety. This is the second time a Wrangler flipped onto its side during this type of crash test by the IIHS, and it comes after engineers said they had worked to fix
Continue Reading By Danielle Wiener-Bronner, CNN Business Starbucks is reopening in Shanghai, a sign of hope as the city slowly emerges from its strict Covid restrictions. Shanghai lifted its two-month lockdown on Wednesday. So far the coffee chain has reopened about 600 of its 940 stores in the city, according to Starbucks spokesperson Jaime Riley. Employees “are
Continue Reading By Jordan Valinsky, CNN Business Tesla reportedly paid a consultancy firm to monitor employees’ Facebook interactions when some workers wanted to form a union at the company’s factory in Fremont, California. CNBC cited invoices and “other documents” that reportedly showed MWW PR monitored employees’ discussions on the platform regarding the company’s labor practices and a
Continue Reading By Kathryn Vasel, CNN Business The strong labor market has given us near record low unemployment, higher wages — and an unfortunate uptick in the number of reports of job seekers getting scammed. “We are definitely seeing job scams,” said Rhonda Perkins, attorney and chief of staff of the Federal Trade Commission’s division of marketing
Continue Reading By Jordan Valinsky, CNN Business LeBron James is a billionaire, marking the first time an active NBA player has achieved that milestone, according to one calculation. Forbes said that the Los Angeles Lakers star has “maximized his business,” generating more than $1.2 billion in pretax earnings. His NBA salary from three different teams during the
Continue Reading By Rishi Iyengar, CNN Business Russia has spent months either driving out American tech firms or watching them leave of their own accord over its war in Ukraine. But the country now finds itself stuck in a stalemate with one big tech company: Google. Many of Google’s services, including search, maps, Gmail and, perhaps most
Continue Reading By Julia Horowitz, CNN Business Fears about whether America could fall into a recession are dominating conversations among investors and pose a risk to the Biden administration ahead of midterm elections this fall. In the meantime, the US economy is humming along — though there are signs it is sliding into a lower gear. That
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