by Amanda Watts, CNN The biopharmaceutical company Gilead Sciences announced Wednesday a massive web of seizures across several states of “counterfeit and tampered Gilead HIV medication within the U.S. supply chain.” In a statement on its website, Gilead said “in coordination with the US Marshals and local law enforcement, Gilead has executed seizures at 17
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By Anneken Tappe, CNN Business Wall Street has had a rocky start to the year: Stocks again finished lower Wednesday and the Nasdaq Composite closed in correction territory, defined as a minimum 10% drop from its high. For the Nasdaq, that last peak was its record close on November 19. On Wednesday the tech-heavy index
Continue Reading By Anneken Tappe, CNN Business Wall Street has had a rocky start to the year: Stocks again finished lower Wednesday and the Nasdaq Composite closed in correction territory, defined as a minimum 10% drop from its high. For the Nasdaq, that last peak was its record close on November 19. On Wednesday the tech-heavy index
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Opinion by Chuck Collins for CNN Business Perspectives The pandemic has shone a spotlight on how inequality kills. As inequalities in income, wealth and access to health care have accelerated, the world’s most economically precarious people have suffered far more than their fair share of death and economic loss. As a new Oxfam report points
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By Nathaniel Meyersohn, CNN Business It’s going to cost you more to wash your clothes. Procter & Gamble said Wednesday that it was raising prices by an average of about 8% on retail customers next month for its Tide and Gain laundry detergents, Downy fabric softener and Bounce dryer sheets. If retailers decide to pass
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By Paul R. La Monica, CNN Business Microsoft’s massive acquisition of Activision Blizzard is notable for several reasons, not the least of which is that it’s spending nearly $70 billion -— in cash — to make the deal. That means Microsoft CEO Satya Nadella is essentially going to write a check for Activision Blizzard. Many
Continue Reading By Paul R. La Monica, CNN Business Microsoft’s massive acquisition of Activision Blizzard is notable for several reasons, not the least of which is that it’s spending nearly $70 billion -— in cash — to make the deal. That means Microsoft CEO Satya Nadella is essentially going to write a check for Activision Blizzard. Many
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By Matt Egan, CNN Business From startlingly high inflation and empty grocery store shelves to elevated prices at the pump, Americans are frustrated with the state of the economy. Polls indicate voters are every bit as concerned about the economy as they are about the pandemic. And they feel the government is not doing enough
Continue Reading By Matt Egan, CNN Business From startlingly high inflation and empty grocery store shelves to elevated prices at the pump, Americans are frustrated with the state of the economy. Polls indicate voters are every bit as concerned about the economy as they are about the pandemic. And they feel the government is not doing enough
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By Charles Riley and Joseph Ataman, CNN Business Major international airlines are canceling flights to the United States over aviation industry fears that 5G technology could interfere with crucial onboard instruments. But it’s business as usual in Europe, where the latest generation of high speed mobile networks is being rolled out without a hitch. “The
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By Samantha Murphy Kelly, CNN Business The next-generation of wireless technology is now even faster for 5G users in some parts of the country. Telecom companies have rolled out 5G networks to various locations across the United States over the last few years, delivering an experience that’s arguably only a notch above what 4G offers.
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By Peter Valdes-Dapena, CNN Business With the trucking industry facing a shortage of qualified drivers, the US government is setting up an apprenticeship program for young truckers. The new program will allow people as young as 18 to drive big interstate semi trucks. The new program is coming on-line as the industry complains of driver
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By Chris Liakos and Richard Quest, CNN The president of Emirates tells CNN that the airline was not aware of some of the potential 5G rollout issues until yesterday morning, calling the situation “one of the most delinquent, utterly irresponsible” he has seen in his aviation career. Major international airlines are scrambling to modify or
Continue Reading By Samantha Murphy Kelly, CNN Business The next-generation of wireless technology is now even faster for 5G users in some parts of the country. Telecom companies have rolled out 5G networks to various locations across the United States over the last few years, delivering an experience that’s arguably only a notch above what 4G offers.
Continue Reading By Jordan Valinsky, CNN Business The CEO of Better.com, best known for firing 900 employees over Zoom just before Christmas, is coming back to work. Vishal Garg is returning to his “full-time duties” as CEO, according to a letter sent to employees Tuesday from the company’s board of directors. The letter noted that Garg used
Continue Reading By Chris Liakos and Richard Quest, CNN The president of Emirates tells CNN that the airline was not aware of some of the potential 5G rollout issues until yesterday morning, calling the situation “one of the most delinquent, utterly irresponsible” he has seen in his aviation career. Major international airlines are scrambling to modify or
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By Danielle Wiener-Bronner, CNN Business Coca-Cola is fighting for your attention. The company is unveiling a new look for flavored Coke products this month, and it has a new Coke variety coming in a few weeks. It’s part of the company’s renewed focus on its Coke brand, as it dumps niche products and tries to
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By Julia Horowitz, CNN Business Persistently high inflation has dealt investors a wake-up call this year, sending them scrambling to re-engineer their portfolios in anticipation of more aggressive action from the Federal Reserve. The tech-heavy Nasdaq Composite is down almost 10% from the all-time high it notched in mid-November. That means the index is flirting
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By Diksha Madhok, CNN Business Microsoft’s blockbuster purchase of video game developer Activision Blizzard could pose a serious threat for Sony. Shares of the maker of the PlayStation console, a major rival to Microsoft’s Xbox, plummeted nearly 13% in Tokyo on Wednesday after Microsoft announced the nearly $70 billion deal. That was the worst plunge
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By Charles Riley, CNN Business UK consumer price inflation has surged to the highest level in three decades, heaping pressure on households already facing a huge increase in energy costs. Inflation increased to 5.4% in December, the Office for National Statistics said on Wednesday, the highest rate since 1992. The biggest price rises were for
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