By Sara O’Brien, CNN Business Uber’s business is showing signs that it’s moving past the pandemic slowdown. The company reported Wednesday that its revenue grew 83% year-over-year to $5.8 billion in the final three months of 2021, as people increasingly turned to its ride-hail platform to get around and ordered food through its delivery service.
Continue Reading
By Sonia Moghe, CNN Former Alaska Governor Sarah Palin took the witness stand Wednesday in her defamation trial against the New York Times. Palin testified for about 15 minutes before court ended for the day. She sued the New York Times and former editorial page editor James Bennet in 2017 over an editorial they published
Continue Reading
By Frank Pallotta, CNN Business Disney+ regained some of its magic on Wednesday with subscriber totals that exceeded Wall Street’s expectations. The streaming service now has 129.8 million subscribers, a gain of nearly 12 million in the company’s fiscal first quarter. Those results beat expectations and were a rebound for the media company after a
Continue Reading
By Matt Egan, CNN Business Oil prices could soar to $120 a barrel if Russia’s crude exports are derailed by tensions with Ukraine, according to projections from JPMorgan. The forecast underscores how a potential invasion of Ukraine would cause wide-ranging ripple effects that would be felt by inflation-weary consumers around the world. “Any disruptions to
Continue Reading
By Brian Fung, CNN Microsoft is trying to persuade regulators to approve its $68.7 billion acquisition of Activision Blizzard with a series of new app store commitments that it says will put the company “on the right side of history” as policymakers worldwide debate new laws to force competition open in digital marketplaces. The 11-point
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. The traffic to the cancellation page for Spotify Premium has jumped in recent weeks as the audio streaming company faces a wave of backlash over its support for podcaster Joe
Continue Reading
By Paul R. La Monica, CNN Business The priciest Super Bowl commercials will cost a record $7 million this year, according to NBC. To put that into terms many of the big game’s advertisers will understand, that’s about 160 bitcoin or 2,200 ether. Cryptocurrencies will be taking center stage during the ad breaks of Super
Continue Reading
By Jackie Wattles, CNN Business Up to 40 of SpaceX’s Starlink satellites are expected to fall out of orbit thanks to some inopportune timing: The company launched the satellites directly into a solar storm. A batch of 49 Starlink internet satellites were on SpaceX’s latest launch on February 3, and now the company is expecting
Continue Reading
By Matt Egan, CNN Business Sick workers. Computer chip shortages. Supply chain stress. Carrier Global, like countless other companies right now, is navigating a minefield of challenges to get orders out to its customers. Absent these operational headaches, the manufacturing giant estimates it would have been able to ship another $200 million to $300 million
Continue Reading
By Matt McFarland, CNN Business The California Department of Fair Employment and Housing will sue Tesla, alleging systematic racial discrimination and harassment, the automaker said in a blog post Wednesday. Department spokesperson Fahizah Alim declined to confirm or comment on the expected lawsuit. If filed, the lawsuit would be the latest in a series of
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. The traffic to the cancellation page for Spotify Premium has jumped in recent weeks as the audio streaming company faces a wave of backlash over its support for podcaster Joe
Continue Reading
By Samantha Murphy Kelly, CNN Business Samsung’s Galaxy Note smartphone line appears to be discontinued. But for those who miss it, the Note lives on in one of Samsung’s new flagship devices. The company announced during a virtual event on Wednesday its next-generation flagship Galaxy S smartphones: the Galaxy S22, Galaxy S22 Plus and the
Continue Reading
By Brian Stelter, CNN Business Discovery and AT&T received a long-awaited green light from the Justice Department on Wednesday, driving the two companies closer to completing Discovery’s takeover of WarnerMedia. AT&T is planning to spin off CNN and the rest of WarnerMedia in the coming months, at which point Discovery will merge with WarnerMedia, creating
Continue Reading
By Julia Horowitz, CNN Business Economists and investors have been closely watching climbing producer prices and wages for clues on where inflation is heading. They’re rising, which could add to inflationary pressure in the coming months. But on another front — supply chain backlogs — there are some welcome signs of relief. What’s happening: An
Continue Reading By Samantha Murphy Kelly, CNN Business Samsung’s Galaxy Note smartphone line appears to be discontinued. But for those who miss it, the Note lives on in one of Samsung’s new flagship devices. The company announced during a virtual event on Wednesday its next-generation flagship Galaxy S smartphones: the Galaxy S22, Galaxy S22 Plus and the
Continue Reading
By Rob North and Chris Liakos Maersk has a front-row seat to global supply chains. It says more trouble is ahead. The supply chain issues that have walloped the global economy and spurred inflation during the coronavirus pandemic are not getting much better, Maersk CEO Søren Skou told CNN Business on Wednesday. “Right now the
Continue Reading
By Christine Romans, CNN Business There’s an uninvited guest coming to your Super Bowl party this year: inflation. Last year’s shindig may have been a casualty of Covid hibernation. This year, with mass vaccinations and more widespread testing, such a get-together is finally possible. And with it comes a grocery bill that reflects the surging
Continue Reading
By Danielle Wiener-Bronner, CNN Business The tide could be turning on consumers’ willingness to pay higher prices, Coca-Cola CEO James Quincey warned Thursday. Consumer goods companies have been steadily hiking prices as their own production costs rise, and so far, shoppers seem to be accepting the increases. Executives at McDonald’s, Chipotle and elsewhere have recently
Continue Reading
By Kathryn Vasel, CNN Business Job listings can be extremely detailed, with long lists of responsibilities and required skills, descriptions of company culture and perks, and numerous other reasons for why you might want to work there. But there’s often one glaring omission: the pay. Only about 12% of postings from US online job sites
Continue Reading
By Danielle Wiener-Bronner, CNN Business Gaming is big business. And snack makers want in. Beverage brands have long been advertising directly to gamers. Red Bull has been active in the esports world for years, Monster Energy made waves when it appeared prominently in the game Death Stranding and PepsiCo has even developed a product, Mountain
Continue Reading