By Chris Isidore, CNN Business The 11-week long strike at Kellogg will end next week after workers at four cereal plants ratified a tentative labor deal with the company. About 1,400 members of the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union have been on strike since October 5. They rejected a previous tentative
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By Paul R. La Monica, CNN Business Bitcoin prices have been on a wild ride this year, and they are set to finish 2021 sharply higher than where they began it. One bitcoin currently trades for just under $49,000, a stunning surge of 66% from January levels. But the top crypto is also down nearly
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By Matt McFarland, CNN Business “Lord don’t let me die here. Don’t let me die like this. Not like this. I’d die any other way, but not like this.” Tim Ball, who delivered packages for Amazon until quitting this year, said he prayed the same prayer every time he walked up to a home that
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By Oliver Darcy, CNN Business Dr. Anthony Fauci on Tuesday said that Fox News host Jesse Watters should be fired for using violent language at a conservative conference to encourage attendees to conduct an ambush interview with him in hopes of creating a viral moment. “I mean, that’s crazy,” Fauci added. “The guy should be
Continue Reading By Oliver Darcy, CNN Business Dr. Anthony Fauci on Tuesday said that Fox News host Jesse Watters should be fired for using violent language at a conservative conference to encourage attendees to conduct an ambush interview with him in hopes of creating a viral moment. “I mean, that’s crazy,” Fauci added. “The guy should be
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By Walé Azeez, CNN Business Turkey’s experiment in cutting interest rates to fight inflation has sent its currency crashing to record lows this year. Now, President Recep Tayyip Erdogan is trying to prop up the lira with a raft of new unorthodox economic measures. Erdogan said the government would try to protect Turkish savers worried
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By Diksha Madhok and CNN’s Beijing bureau Chinese live-stream shopping influencer Huang Wei, known as Viya, has been hit with a whopping $210 million penalty for tax evasion and kicked off social media. Viya — also known in China as the “live-streaming queen” — was ordered to pay 1.34 billion yuan in back taxes, late
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By Chris Isidore, CNN Business Nikola, the upstart electric truck maker, agreed to pay $125 million to settle Securities and Exchange Commission charges that it let its founder, Trevor Milton, defraud investors. Milton still faces federal criminal charges as well as his own SEC charges. He resigned as executive chairman in September 2020 after an
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By Anneken Tappe, CNN Business The Dow and the broader US stock market were in the green on Tuesday, as the market bounced back from a sharp selloff at the start of the week. Once again the steep losses of more than 1% for each of the major indexes are being quickly followed by green
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By Matt Egan, CNN Business Senator Joe Manchin is facing calls from a powerful group close to his heart to reconsider his opposition to the Build Back Better Act: Coal miners. A day after the West Virginia Democrat appeared to kill Build Back Better, America’s largest coal mining union put out a statement lauding the
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By Jeanne Sahadi, CNN Business If you’re a high earner who was scrambling to take advantage of a so-called backdoor Roth IRA or Roth 401(k) before new rules go into effect prohibiting you to do so, you just got a reprieve. Senator Joe Manchin’s refusal to vote for the Build Back Better bill puts the
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By Rachel Metz, CNN Business On a chilly December afternoon I played a heart-pounding game of laser tag, flew across town on a magical broom, killed zombies in an abandoned mall, and hung out with an old friend who lives roughly 2,000 miles away — all without leaving my home or, in fact, my living
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Opinion by Jeff Tucker for CNN Business Perspectives Homebuyers will need to be prepared and patient in 2022. Just as baby boomers are hitting retirement, more millennials are reaching peak first-time homebuyer age, and they’re all competing in a market starved for inventory. While the market will slow a bit from the surge in demand
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By Charles Riley, CNN Business Plenty of people want to buy Nike clothes and sneakers. But nearly two years into the coronavirus pandemic, supply chain issues mean the company is struggling to meet that demand and grow its business. Nike sales increased just 1% to $11.4 billion in the quarter ended November 30, the US
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By Jordan Valinsky, CNN Business Rite Aid announced Tuesday it is closing another 63 stores to save about $25 million per year. After years of overexpansion, Rite Aid and other giant American pharmacy chains have struggled. They’ve been closing hundreds of stores over the past few years, despite the pandemic that has drawn people into
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By Pete Muntean, CNN Business The world’s biggest commercial airplane manufacturers are telling the Biden Administration to delay the rollout of 5G cell service next month. Boeing CEO David Calhoun and Airbus Americas CEO Jeffery Knittel sent a letter to Transportation Secretary Pete Buttigieg to say the January 5 rollout could cause interference that could
Continue Reading By Pete Muntean, CNN Business The world’s biggest commercial airplane manufacturers are telling the Biden Administration to delay the rollout of 5G cell service next month. Boeing CEO David Calhoun and Airbus Americas CEO Jeffery Knittel sent a letter to Transportation Secretary Pete Buttigieg to say the January 5 rollout could cause interference that could
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By Nathaniel Meyersohn, CNN Business Early in the Covid-19 pandemic, everybody stuck at home tried their hand at cooking. People posted photos of their elaborate dishes on social media with hashtags like #Coronavriuscooking, and baking sales boomed. Almost two years later, people have given up on their dreams of being a celebrity chef. Consumers across
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By Michelle Toh, CNN Business China Mobile is ending the year with a bang. The Chinese telecom giant announced Tuesday that it wants to raise as much as 56 billion yuan ($8.8 billion) on the Shanghai stock exchange after it was forced to quit Wall Street in January. In a filing to the Hong Kong
Continue Reading By Diksha Madhok and CNN’s Beijing bureau Chinese live-stream shopping influencer Huang Wei, known as Viya, has been hit with a whopping $210 million penalty for tax evasion and kicked off social media. Viya — also known in China as the “live-streaming queen” — was ordered to pay 1.34 billion yuan in back taxes, late
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