By Anneken Tappe, CNN Business America’s inflation problem didn’t abate in March. Prices kept creeping up, hitting a fresh 40-year high, data from the Bureau of Labor Statistics showed Tuesday. The Consumer Price Index rose 8.5% for the year ended in March, not adjusted for seasonal swings. That outpaced February’s elevated reading of 7.9% and
Continue Reading
By Brian Stelter, CNN Business Discovery’s merger with WarnerMedia took effect on Friday afternoon, creating a streaming media giant led by CEO David Zaslav. The deal combines two treasure troves of content and foreshadows further changes in the streaming era. The newly formed company, Warner Bros. Discovery, will begin publicly trading on Monday. Zaslav said
Continue Reading
By Frank Pallotta, CNN Business “Dancing with the Stars” is headed to streaming. Disney announced Friday that the series, in which celebrities compete to be named the best ballroom dancer, will exclusively air on Disney+ in the US and Canada starting in the fall. It’s the first live series to debut on the streaming service,
Continue Reading
By Sara Ashley O’Brien, CNN Business One week after Amazon workers at a New York City warehouse made history by voting to form a union, the tech giant is calling for a do-over election in filing Friday that lays out 25 objections that form the basis of its appeal. In its filing to the National
Continue Reading
By Paul R. La Monica, CNN Business The globally loved Formula 1 racing is winning more US fans, thanks largely to Netflix’s popular “Drive to Survive” reality show and ESPN’s coverage of the races. And F1’s stock is red hot, too. The company is owned by Liberty Media — the conglomerate controlled by John Malone
Continue Reading By Paul R. La Monica, CNN Business The globally loved Formula 1 racing is winning more US fans, thanks largely to Netflix’s popular “Drive to Survive” reality show and ESPN’s coverage of the races. And F1’s stock is red hot, too. The company is owned by Liberty Media — the conglomerate controlled by John Malone
Continue Reading
By Jackie Wattles, CNN Business Three NASA astronauts and a European astronaut splashed down aboard their SpaceX Crew Dragon capsule off the coast of Florida after midnight Friday morning, capping off their six-month mission during which they worked alongside Russian cosmonauts and hosted the first all-private crew to visit the orbiting outpost. The crew of
Continue Reading
By Anna Cooban, CNN Business European leaders have agreed to phase out Russian coal imports as part of a new package of sanctions triggered by evidence of atrocities in Bucha, Ukraine. An oil embargo could be next. All forms of Russian coal will be banned from the European Union, a move that the European Commission
Continue Reading
By Jeanne Sahadi, CNN Business You know you have to pay taxes. So you may not be eager to spend yet more money to work with a tax professional. But since taxes affect most areas of your life — and since tax laws change all the time — there are several situations when it makes
Continue Reading
By Jackie Wattles, CNN Business A SpaceX rocket carrying three paying customers and a former NASA astronaut took off from Kennedy Space Center in Florida on Friday morning, kicking off a first-of-its-kind mission that will take the group on a 10-day mission to the International Space Station. The spacecraft, which separated from the rocket after
Continue Reading
By Catherine Thorbecke, CNN Business Nearly two years before Japanese fashion titan Yusaku Maezawa embarked on his recent tourist visit to the International Space Station, he made global headlines for launching a worldwide search for a “life partner” to go to the moon with him. In his online appeal for love, Maezawa, who was 44
Continue Reading By Catherine Thorbecke, CNN Business Nearly two years before Japanese fashion titan Yusaku Maezawa embarked on his recent tourist visit to the International Space Station, he made global headlines for launching a worldwide search for a “life partner” to go to the moon with him. In his online appeal for love, Maezawa, who was 44
Continue Reading
By Julia Horowitz, CNN Business Investors are worried that the risks of a recession are rising in the United States. In Europe, they fear economies could also stall while inflation soars, delivering the toxic combination known as “stagflation.” That’s encouraging Wall Street to buy up defensive stocks that have historically performed well even under difficult
Continue Reading
By Chris Liakos and Anna Cooban, CNN Business Russian metals company Rusal has called for an investigation into the killing of civilians in Bucha, a suburb of the Ukrainian capital Kiev. Rusal Chairman Bernard Zonneveld said in a statement that recent reports of atrocities from the town, which was occupied by Russian troops for a
Continue Reading
By Danielle Wiener-Bronner, CNN Business A deadly and highly infectious avian flu is forcing US farmers to kill millions of egg-laying hens, reducing the country’s egg supply and driving up prices. On Thursday, retailers paid between $2.80 and $2.89 for a dozen large grade A white eggs in the Midwest, according to the USDA’s daily
Continue Reading
By Michelle Toh and CNN’s Bejiing bureau Chinese food delivery service Meituan has sent almost 1,000 extra workers to Shanghai to help supply groceries to millions of residents struggling with life under a strict Covid lockdown. The company announced Thursday that it had rolled out a host of new measures in China’s financial hub, where
Continue Reading
By Laura He, CNN Business China’s unwavering commitment to stamping out Covid by locking down big cities such as Shanghai threatens to deal a hefty shock to its vast economy, place more strain on global supply chains and further fuel inflation. Shanghai — home to China’s leading financial center and some of its largest sea
Continue Reading
By Laura He, CNN Business Tencent is shutting down its game streaming service, the latest retreat by Big Tech in the face of a sweeping crackdown by Chinese regulators that has sharply slowed growth at some of the country’s most powerful internet companies. The streaming platform, Penguin Esports, announced Thursday that it would terminate all
Continue Reading
By Rishi Iyengar, CNN Business On March 14, the same day Russia banned Instagram, Russian tech entrepreneur Alexander Zobov announced he would soon launch a local version of the popular photo and video sharing app called Rossgram. Zobov and his team “were already prepared for this outcome of events in advance and decided not to
Continue Reading By Matt McFarland, CNN Business Tesla held a party Thursday night to mark the opening of its new manufacturing plant in Austin, Texas. Tesla’s new factory will initially produce the Model Y SUV and, next year, the Cybertruck, which has been delayed since being first revealed in 2019. The Texas factory, Tesla’s fourth assembly plant
Continue Reading