By Chris Isidore, CNN Business Time could be running out for the Chevrolet Bolt, the electric vehicle that only five years ago was positioned as General Motors’ best chance to overtake Tesla. On Tuesday, GM announced a $35 billion investment in EVs by 2025, including $4 billion to build electric versions of its best-selling pickups,
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By Samantha Murphy Kelly, CNN Business Apple posted record revenue during the all-important holiday quarter even as it continued to grapple with supply chain shortages. The company on Thursday reported $123.9 billion in revenue for the final months of the year, an 11% increase from the year prior, fueled by demand for its latest lineup
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By Paul R. La Monica, CNN Business It’s been a little more than a year since the meme mania in GameStop began. It’s shaped up to be, to put it extremely mildly, a wild ride for it and other meme stocks like movie theater chain AMC ever since. GameStop and AMC are up sharply from
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By Anneken Tappe, CNN Business The Omicron variant put America’s recovery through the ringer. But the post-Thanksgiving timing may mean the economic scorecard for the final quarter of 2021 could still look decent. At least that’s what economists are hoping. Omicron caused infections to skyrocket, businesses to struggle and workers to stay home sick in
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By Nectar Gan and CNN’s Beijing Bureau, CNN Business More than two decades after its release, “Fight Club” has been given a very different ending in China — and this time, the authorities win. Chinese fans of David Fincher’s cult classic were enraged over the weekend when they noticed a version of the movie available
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By Laura He, CNN Business China’s top cybersecurity regulator is vowing to crack down on “illegal” online content as part of a campaign to clean up the internet ahead of the Beijing Winter Olympics and one of the country’s most important annual holidays. The Cyberspace Administration of China announced Tuesday that its month-long internet “purification”
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The Southern Boone School District is asking the public to vote on the $3 million no-tax-increase bond issue.
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By Samantha Murphy Kelly, CNN Business Apple has been granted a restraining order against a woman who allegedly threatened, harassed and stalked CEO Tim Cook for more than a year. In a court filing late last week with the Santa Clara County Superior Court, Apple said a woman from Virginia has exhibited “erratic, threatening and
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By Clare Duffy, CNN Business Some manufacturers that rely on semiconductors are down to less than five days’ worth of inventory, according to a report released Tuesday by the Commerce Department, in the latest indication of the extent of the computer chip shortage. The report, based on more than 150 responses to a Commerce Department
Continue Reading By Chris Isidore, CNN Business Johnson & Johnson, the world’s largest health care products company, reported that sales of its Covid vaccine have accelerated, but they’ll still lag far behind other vaccines for the foreseeable future. Its 2021 sales of its single-dose vaccine came to $2.4 billion, the company reported Tuesday, just short of its
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By Julia Horowitz, CNN Business The pandemic will continue to stoke uncertainty and inflation in its third year, undermining the global recovery from the coronavirus and pushing total economic losses toward $14 trillion. That’s according to the International Monetary Fund, which on Tuesday slashed its global growth forecast for 2022 by half a percentage point
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By Matt Egan, CNN Business Bank of America is handing out $1 billion worth of restricted stock to virtually its entire workforce as the bank seeks to gain an upper hand in the war for talent. In a memo shared exclusively with CNN, Bank of America CEO Brian Moynihan said Tuesday the company is for
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By Robert North, Radina Gigova and Sana Noor Haq, CNN A car that can transform into a small aircraft has passed flights tests with flying colors in Slovakia, developers say. The “AirCar” was awarded an official Certificate of Airworthiness by the Slovak Transport Authority after completing 70 hours of “rigorous flight testing,” according to Klein
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By Brian Stelter, CNN Business None of the headwinds facing legacy broadcast television are strong enough to stop the NFL right now. This past weekend’s four divisional games averaged 37 million viewers at any given time. That’s 20 percent higher than the audience size for the equivalent games last year. The totals now count some
Continue Reading By Robert North, Radina Gigova and Sana Noor Haq, CNN A car that can transform into a small aircraft has passed flights tests with flying colors in Slovakia, developers say. The “AirCar” was awarded an official Certificate of Airworthiness by the Slovak Transport Authority after completing 70 hours of “rigorous flight testing,” according to Klein
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By Anneken Tappe, CNN Business Investors better fasten their seat belts because there’s no sign of volatility letting up on Wall Street. Stocks resumed their selloff for most of day, but the Dow offered a glimmer of hope for turnaround Tuesday when it briefly turned green in the afternoon. But even though stocks ended off
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By Paul R. La Monica, CNN Business American Express customers clearly didn’t leave home without their credit cards when they went shopping this holiday season. The company said Tuesday that revenue in the fourth quarter soared 30% from a year ago, thanks in large part to record spending by its members. Investors were pleased. Shares
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By Anna Bahney Overheated home prices continue to show signs of cooling off a bit. Home prices rose 18.8% year-over-year in November, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. But that staggering jump was down from a 19.1% increase in October. For the past several months, prices have continued to rise
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By Danielle Wiener-Bronner, CNN Business Starbucks is giving customers new ways to perk up: a line of energy drinks called Starbucks Baya Energy and a bunch of fresh flavors in the grocery aisle. Baya will be available for purchase at stores and online starting this week, and will go on sale at US Starbucks stores
Continue Reading By Julia Horowitz, CNN Business The pandemic will continue to stoke uncertainty and inflation in its third year, undermining the global recovery from the coronavirus and pushing total economic losses toward $14 trillion. That’s according to the International Monetary Fund, which on Tuesday slashed its global growth forecast for 2022 by half a percentage point
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