By Matt Egan, CNN Business Stock markets are turbulent and Morgan Stanley is warning clients the ride is about to get even bumpier. Investors have “very few places to hide” in markets right now, with even defensive stocks succumbing to the pressure in recent days, Morgan Stanley equity strategists led by Mike Wilson wrote on
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By Matt Egan, CNN Business Elon Musk’s quest to become a social media mogul is dealing a blow to Donald Trump’s social venture. Shares of Digital World Acquisition Corporation, the controversial blank-check firm that plans to merge with Trump Media & Technology Group, fell 13% on Monday to close at $35.71. That’s the lowest level
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By Amy Cassidy and Anna Cooban, CNN Business Norwegian police arrested seven Greenpeace activists on Monday after they chained themselves to a Russian oil tanker to try to prevent it docking at a port in Norway operated by Exxon. The Ust Luga — loaded with Russian jet fuel worth $116 million — was on its
Continue Reading By Amy Cassidy and Anna Cooban, CNN Business Norwegian police arrested seven Greenpeace activists on Monday after they chained themselves to a Russian oil tanker to try to prevent it docking at a port in Norway operated by Exxon. The Ust Luga — loaded with Russian jet fuel worth $116 million — was on its
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By Peter Valdes-Dapena, CNN Business General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next
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By Rachel Metz, CNN Business The parent company of Facebook and Instagram is taking on a new role as a brick-and-mortar retailer. On Monday, Meta announced the Meta Store, which will be the company’s first attempt at selling its physical products — including the Quest 2 virtual reality headset and Portal video calling device —
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By Paul R. La Monica, CNN Business With lots of worries out there — inflation, Covid, interest rates, Ukraine, stock volatility — consumers are willing to pay a premium when seeking comfort in the form of sweet treats like Coca-Cola. And investors are seeking a safe haven in the company’s stock. Coca-Cola reported first quarter
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By Anna Bahney, CNN Business Anyone looking for a place to live right now is navigating one of the toughest and most expensive housing markets in recent history. The pandemic boom in housing pushed home prices to an all-time high of $375,300 in March, 34% higher than the median price of $280,600 in March 2020,
Continue Reading By Anna Bahney, CNN Business Anyone looking for a place to live right now is navigating one of the toughest and most expensive housing markets in recent history. The pandemic boom in housing pushed home prices to an all-time high of $375,300 in March, 34% higher than the median price of $280,600 in March 2020,
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By Jackie Wattles and Jennifer Korn, CNN The first all-private mission to the International Space Station finally made its way home Monday, making a splash down landing off the coast of Florida and concluding a mission that has lasted a week longer than expected. This mission was brokered by the Houston, Texas-based startup Axiom Space.
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By Matt Egan, CNN Business Oil prices fell sharply Monday as lockdowns in China stoked concerns that the country’s zero-Covid strategy will sap energy demand in the world’s second-largest economy. US oil dropped as much as 6.7% to a two-week low of $95.28 a barrel on Monday. Crude finished the day down 3.5% to $98.54
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Opinion by Gad Levanon for CNN Business Perspectives With the fear of Covid-19 on the wane, consumers are spending much more on in-person services, like travel and entertainment, powering an impressive comeback in that sector. However, something has got to give. And that something is consumer spending on goods, like clothing, furniture, appliances and recreational
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By Julia Horowitz, CNN Business Tesla CEO Elon Musk’s noisy campaign for changes to how Twitter runs its business has grabbed headlines for its twists and bombast. And, of course, for the big surprise — a takeover bid. What’s happening: Twitter’s board of directors convened Sunday to discuss Musk’s offer. The world’s richest man has
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By Laura He, CNN Business Global stocks and oil prices fell on Monday as rising Covid-19 cases in Beijing sparked fears that the Chinese capital could join Shanghai and other major cities in lockdown. China’s benchmark Shanghai Composite Index sank 5.1% to close at a 22-month low. It was the worst day for the index
Continue Reading By Laura He, CNN Business Investors are ditching China at an unprecedented scale as a cocktail of political and business risks, and rising interest rates elsewhere, make the world’s second biggest economy a less attractive place to keep their money. China witnessed $17.5 billion worth of portfolio outflows last month, an all-time high, according to
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The Twitter board of directors convened on Sunday for a dialogue about Elon Musk’s takeover offer — a potential prelude to negotiations with the Tesla CEO about next steps. A
Continue Reading By Jackie Wattles, CNN Business The first all-private mission to the International Space Station began its return trip Sunday evening after a string of delays dragged the mission out for a week longer than expected because of weather and other inopportune circumstances. The mission, called AX-1, was brokered by the Houston, Texas-based startup Axiom Space,
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By Zoe Sottile, CNN Feeling hungry for a new job? Favor, a Texas-based food delivery company, is looking for a voracious eater to sample tacos all over the state as their first-ever “Chief Taco Officer.” The lucky employee will receive $10,000 in exchange for taste-testing tacos and documenting the experience on social media during June
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By Ramishah Maruf, CNN The White House Correspondents’ Dinner returns next Saturday — and the sitting president is set to attend for the first time since 2016. After a two-year hiatus due to the Covid pandemic, President Joe Biden will speak at the century-old press gala after former president Donald Trump famously boycotted the event.
Continue Reading By Ramishah Maruf, CNN The White House Correspondents’ Dinner returns next Saturday — and the sitting president is set to attend for the first time since 2016. After a two-year hiatus due to the Covid pandemic, President Joe Biden will speak at the century-old press gala after former president Donald Trump famously boycotted the event.
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