By Laura He, CNN Business China’s inflation headache is getting worse. The cost of goods leaving China’s factories surged by another record rate last month, and there are increasing signs that consumers are starting to feel the pain. The Producer Price Index jumped 13.5% in October from a year ago, accelerating from September’s 10.7%, China’s
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By Rhea Mogul and Esha Mitra, CNN A layer of toxic foam coated parts of a sacred river near India’s capital on Wednesday as Hindus gathered on its banks to celebrate a religious festival and some devotees bathed in the waters. The white froth, a mixture of sewage and industrial waste, formed over the last
Continue Reading By Rhea Mogul and Esha Mitra, CNN A layer of toxic foam coated parts of a sacred river near India’s capital on Wednesday as Hindus gathered on its banks to celebrate a religious festival and some devotees bathed in the waters. The white froth, a mixture of sewage and industrial waste, formed over the last
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By Diksha Madhok, CNN Business “The Lord of the Rings” director Peter Jackson is selling most of his visual effects studio Weta Digital to Unity, which makes development software for video games, for $1.6 billion. The cash-and-stock deal will see the American platform acquire Weta Digital’s “tools, pipeline, technology, and engineering talent,” the companies said
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. MSNBC has a talent problem on its hands. Brian Williams told network management on Tuesday that he is passing on their offer of a new contract. He is ending a
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By Brian Stelter, CNN Business Anchorman Brian Williams, a 28-year veteran of NBC News and MSNBC, said Tuesday that he is leaving the company at the end of this year. “This is the end of a chapter and the beginning of another,” Williams said in a statement. “There are many things I want to do,
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By Allison Morrow, CNN Business Editor’s note: Sign up for Royal News, a new weekly newsletter from CNN bringing you the inside track on the royal family, what they are up to in public and what’s happening behind palace walls. Sign up here. Meghan, the Duchess of Sussex, opened up Tuesday about her campaign for
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By Clare Duffy, CNN Business Meta, the company formerly known as Facebook, said Tuesday it plans to limit advertisers’ ability to target users based on certain sensitive categories. Starting next year, it will remove thousands of “Detailed Targeting” keywords to target ads to specific users in categories such as health, race or ethnicity, political affiliation,
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by Sonia Moghe, CNN Oklahoma Supreme Court justices have reversed a district court decision that ordered Johnson & Johnson to pay $465 million to the state for its role in the opioid crisis. In the justices’ decision filed Tuesday, they wrote that the district court “erred” by holding Johnson & Johnson liable under the state’s
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By Nathaniel Meyersohn, CNN Business Shoppers are already taking a hit at the grocery store. Soon, even their cheapest meat options will get more expensive. Tyson Foods, Conagra and Kraft Heinz have notified their retail customers in recent weeks that they will raise prices in January for some frozen and refrigerated meats. Products that will
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By Chris Isidore, CNN Business Kmart is shuttering its last-remaining store in Michigan, the state where the once-proud retail chain launched in 1899. It’s one of series of store closings that will leave the company with only six locations in the continental United States still in business by year’s end. Kmart is owned by Sears,
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By Parija Kavilanz, CNN Business If you’ve already started your online holiday shopping this year, you may be seeing a lot more of those three dreaded words every shopper hates: “out of stock.” There were more than 2 billion instances of a product being out of stock online across 18 categories tracked in October by
Continue Reading By Samantha Murphy Kelly, CNN Business Just weeks after WeWork’s much-anticipated public offering, its infamous co-founder and former CEO Adam Neumann opened up about the lessons he’s learned after he all but ran the company into the ground. “I’ve had a lot of time to think, and there’ve been multiple lessons and multiple regrets,” said
Continue Reading By Jordan Valinsky, CNN Business Former Starbucks CEO Howard Schultz told a story about the Holocaust to promote the company’s benefits to a group of employees in a meeting this past weekend. Schultz, who is Jewish, said a rabbi in Israel told him about the experiences of prisoners at concentration camps in Poland: They were
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By Jeanne Sahadi, CNN Business If you’re among the millions of people who use payment apps like PayPal, Venmo, Square, and other third-party electronic payment networks, you could be affected by a tax reporting change that goes into effect in January. Payment app providers will have to start reporting to the IRS a user’s business
Continue Reading By Clare Duffy, CNN Business Tim Cook is a cryptocurrency owner. But don’t call him a bitcoin bull. “I don’t want to put any labels on me, it’s just that it’s something, from a personal point of view, I’m interested in,” the Apple CEO told journalist Andrew Ross Sorkin at the New York Times DealBook
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By Brian Stelter and Virginia Langmaid, CNN Business The information landscape about Covid-19 is bewildering, with factual and fictional claims competing for attention. And most American adults have heard at least a couple of the fictions, according to new data from the Kaiser Family Foundation. Kaiser, which is widely respected for its top-notch work on
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By Clare Duffy, CNN Business If your Tuesday morning started out with internet connectivity problems, it’s not just you. Comcast customers in various areas across the United States, including parts of New Jersey, Pennsylvania and Illinois, reported outages early Tuesday with their Xfinity internet service. Outage tracking service Downdetector recorded more than 52,000 outage reports
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By Reuters The US auto safety regulator announced on Tuesday its first-ever reward to a whistleblower, handing out more than $24 million to a former Hyundai employee who provided key information about safety lapses at the South Korean carmaker. The award to ex-Hyundai Motor engineer Kim Gwang-ho is the biggest ever in a whistleblower case
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By Allison Morrow, CNN Business The world’s wealthiest people have unfathomable riches. But there’s a huge difference between wealth and income, and that’s what makes Elon Musk’s weekend Twitter stunt, polling his followers about whether to sell 10% of his Tesla stock, both fascinating and jarring. For the uninitiated: Musk, like many ultra-wealthy heads of
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