By Sara Ashley O’Brien, CNN Business This week in the criminal trial of Elizabeth Holmes, jurors heard how the billionaire family of former Education Secretary Betsy DeVos eagerly poured nearly $100 million into failed blood-testing startup Theranos after a visit to its Palo Alto headquarters. The DeVos family, whose fortune stems from multilevel-marketing company Amway,
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By Tara Subramaniam, CNN Business One week ago, a consortium of 17 news outlets, including CNN, began publishing a damning series of stories — collectively called “The Facebook Papers” — based on thousands of pages of internal company documents. These documents are disclosures made to the Securities and Exchange Commission and provided to Congress in
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By Julia Horowitz, CNN Business The people who made their fortunes in the oil capital of Europe need a new plan. For decades, Aberdeen, a port city on Scotland’s northeast coast, has served as the commercial gateway to the North Sea, where powerful companies have navigated deep and dangerous waters to extract tens of billions
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By Ramishah Maruf, CNN Business Billionaire Charlie Munger is bankrolling the design of a massive dormitory at the University of California, Santa Barbara. The $1.5 billion project comes with a major catch — 94% of the dorm’s single occupancy rooms are in the interior of the building, and have no windows. A consulting architect on
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By Paul R. La Monica, CNN Business October may be notorious for big market crashes. But this month was more of a Rocktober than Shocktober for stocks. Despite some notable drops in big techs Friday following disappointing sales from Apple and Amazon, the broader market still finished October with healthy gains. The Dow closed about
Continue Reading By Paul R. La Monica, CNN Business October may be notorious for big market crashes. But this month was more of a Rocktober than Shocktober for stocks. Despite some notable drops in big techs Friday following disappointing sales from Apple and Amazon, the broader market still finished October with healthy gains. The Dow closed about
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By Nathaniel Meyersohn, CNN Business Amazon’s rise has been relentless for more than a decade, with regulators and rivals alike failing to slow it. But now Amazon has taken a hit from a pair of immovable forces: snarled supply chains and worker shortages. The company’s third-quarter earnings and sales fell well short of Wall Street’s
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By Sean Lyngaas, CNN Business A Minnesota man has been charged with hacking into computer systems used by Major League Baseball and trying to extort the league for $150,000, the US Attorney’s Office of the Southern District of New York said Thursday. In emails with an MLB executive, Joshua Streit, 30, threatened to publicize the
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By Chris Isidore, CNN Business Profits soared at the nation’s two largest oil companies, as ExxonMobil and Chevron both benefited from the recent run-up in oil prices. ExxonMobil, America’s largest oil company, posted net income of $6.8 billion, swinging to a profit after a $680 million loss a year ago. Oil prices got crushed in
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Walé Azeez, CNN Business The United Kingdom is pushing ahead with legislation that will force more than 1,300 of its largest companies to disclose climate risks. Announcing the move ahead of the COP26 climate talks that start in Glasgow on Sunday, the UK government said it plans to be the first major economy to require
Continue Reading By Matt Egan, CNN Business Oil prices are unlikely to stay elevated for long, Chevron’s chief financial officer told CNN. “This feels more cyclical than structural,” Pierre Breber, the CFO of Chevron, the No. 2 US oil company, said in a phone interview. “We view these prices as above mid-cycle and above what our price
Continue Reading By Rishi Iyengar, CNN Business In early 2019, a team of Facebook’s researchers spent two weeks interviewing 30 users across two Indian cities, Jaipur and Hyderabad. The goal: to learn about their experiences with misinformation and fact-checking on its platforms. The fact-finding mission, which was described by one of the researchers in an internal document
Continue Reading By Chris Isidore, CNN Business Profits soared at the nation’s two largest oil companies, as ExxonMobil and Chevron both benefited from the recent run-up in oil prices. ExxonMobil, America’s largest oil company, posted net income of $6.8 billion, swinging to a profit after a $680 million loss a year ago. Oil prices got crushed in
Continue Reading By Chris Isidore, CNN Business Profits soared at the nation’s two largest oil companies, as ExxonMobil and Chevron both benefited from the recent run-up in oil prices. ExxonMobil, America’s largest oil company, posted net income of $6.8 billion, swinging to a profit after a $680 million loss a year ago. Oil prices got crushed in
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By Hannah Ritchie and Esha Mitra, CNN Indian actor Puneeth Rajkumar has died aged 46 after suffering cardiac arrest on Friday, according to a statement from Vikram Hospital in the city of Bangalore. “Mr. Puneet Rajkumar, aged 46 years was brought to Vikram Hospital on 29/10/21 with a diagnosis of heart attack with ECG done
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By Julia Horowitz, CNN Business What will dominate this holiday shopping season: Huge demand, as shoppers use pent-up savings to splurge, or supply chain problems leading to empty shelves and presents on back order? Apple’s latest earnings report is amping up fears that production and shipping complications will steal the spotlight. What’s happening: The company
Continue Reading By Laura He, CNN Business For the second time this month, China’s most indebted developer Evergrande has reportedly managed to avoid default at the last minute. The debt-stricken firm paid interest on a dollar-denominated bond that was due in late September, just as a 30-day grace period expired, according to the New York Times and
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OSAGE BEACH, Mo. (KMIZ) Camden and Miller Counties will vote on Tuesday, November 2nd, on a proposed tax that would pay for new fire equipment and a new fire station. The property tax increase will cost residents 30 cents for every 100 dollars of property value. That would cost property owners $114 a year on
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Jefferson City, Mo (kmiz) Sisters of St. Mary’s Hospital hosted it’s hiring event today. The health system is looking to fill a wide range of full and part-time positions in light of the shortage of health care workers since the pandemic started. According to the U.S labor and statistics since the pandemic began the health
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By Anna Bahney, CNN Business Waiting for the wild housing market to calm down before buying a place? Don’t bother, said Barbara Corcoran, the founder of the Corcoran Group real estate firm and star of “Shark Tank,” during a CNN Business Foreseeable Future discussion on the current housing market madness. “I don’t think it is
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