By Paul R. La Monica, CNN Business America added far fewer jobs in September than expected, but investors didn’t seem too disappointed: Stocks were mostly unchanged Friday as Wall Street took solace that the unemployment rate continues to drop after the pandemic-fueled spike last year. The Dow finished the day down nearly 10 points, but
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By Rachel Metz, CNN Business For billions of people around the world, Facebook can be a source for cute baby pictures, vaccine misinformation and everything in between — and all of it surfaces in our feeds with the help of algorithms. Now, hours of testimony and thousands of pages of documents from Facebook whistleblower Frances
Continue Reading By Samantha Murphy Kelly, CNN Business A Facebook whistleblower has helped renew concerns that some parents have likely had for years: what impact social media is having on their kids. Frances Haugen, a 37-year-old former Facebook product manager, testified this week that the company’s algorithms can push young Instagram users toward harmful content, such as
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By Hanna Ziady, CNN Business The global economic recovery from the coronavirus pandemic is weakening and risks are rising, according to the International Monetary Fund. The IMF on Tuesday slashed its 2021 growth forecast for the United States by one full percentage point to 6%, the biggest reduction suffered by any G7 economy in its
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By Charles Riley, CNN Business The Senate voted along party lines to raise the debt ceiling on Thursday, authorizing $480 billion in borrowing that avoids a looming US government default but sets up another showdown in early December. Investors no doubt should be relieved. Alarm bells had been ringing on Wall Street for weeks, and
Continue Reading Opinion by Jacob J. Lew for CNN Business Perspectives After weeks of partisan gridlock, Congress is on track to extend the debt ceiling, averting a potential default looming in less than two weeks. But the solution merely moves the new fiscal cliff to December, aligning the deadline with other imminent crises, like a potential government
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By Ben Westcott, CNN For journalist Maria Ressa, reporting the news has always been the priority. But the newly honored Nobel Peace Prize winner says she has been forced to “become the news” simply because of her determination to do the job properly and defend the rule of law. A day before receiving the Nobel
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By Ben Westcott, CNN For journalist Maria Ressa, reporting the news has always been the priority. But the newly honored Nobel Peace Prize winner says she has been forced to “become the news” simply because of her determination to do the job properly and defend the rule of law. A day before receiving the Nobel
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By Hanna Ziady and Mark Thompson, CNN Business A group of 136 countries have agreed to a global treaty that would tax large multinationals at a minimum rate of 15% and require companies to pay taxes in the countries where they do business. Estonia, Hungary and — most notably — Ireland joined the agreement Thursday.
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By Laura He, CNN Business China has ordered its coal mines to ramp up production in a bid to ease a power crisis, as the country struggles to balance its need for electricity with efforts to tackle the climate crisis. Authorities in Inner Mongolia, China’s second largest coal-producing province, have asked 72 mines to boost
Continue Reading By Anneken Tappe, CNN Business America’s economic recovery has hit a roadblock: US employers added only 194,000 jobs in September, another troubling sign that Covid is disrupting the economy. It marked the second-straight month in which the US economy added far fewer jobs than expected. Jobs growth slowed down dramatically in August. The unemployment rate
Continue Reading By Matt Egan, CNN Business The cost of energy was dirt cheap in the spring of 2020 as roads and airports sat nearly empty during the height of the Covid-19 pandemic. Energy demand is back today as the world economy reopens — but supply simply hasn’t kept up. That’s why US oil prices have skyrocketed
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By Rob Picheta, CNN The Nobel Peace Prize has been awarded to journalists Maria Ressa and Dmitry Muratov, for their longstanding efforts to safeguard freedom of expression in the Philippines and Russia. Ressa is the CEO of Rappler, a news outlet critical of Philippine President Rodrigo Duterte’s regime, while Muratov heads the independent Russian newspaper
Continue Reading By Ben Westcott, CNN For journalist Maria Ressa, reporting the news has always been the priority. But the newly honored Nobel Peace Prize winner says she has been forced to “become the news” simply because of her determination to do the job properly and defend the rule of law. A day before receiving the Nobel
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By Rob McLean, CNN Business Tesla HQ is getting a new home. “I’m excited to announce that we’re moving our headquarters to Austin, Texas,” CEO Elon Musk said Thursday during a Tesla shareholders meeting. The electric car company is currently based in Palo Alto, California, near its original headquarters in San Carlos, and its first
Continue Reading By Rob McLean, CNN Business Tesla HQ is getting a new home. “I’m excited to announce that we’re moving our headquarters to Austin, Texas,” CEO Elon Musk said Thursday during a Tesla shareholders meeting. The electric car company is currently based in Palo Alto, California, near its original headquarters in San Carlos, and its first
Continue Reading By Samantha Murphy Kelly, CNN Business Google’s Pixel smartphones are taking a big step toward becoming a true Apple iPhone and Samsung Galaxy competitor. At a virtual press conference on Tuesday, the company showed off the new 6.4-inch Pixel 6 and 6.7-inch Pixel 6 Pro, which run on Android 12, Google’s most significant software update
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By Rishi Iyengar, CNN Business Google is cracking down on the ability of climate change deniers to make money off its platforms and to spread climate misinformation through advertisements. The company said Thursday it will no longer allow advertising to appear alongside “content that contradicts well-established scientific consensus around the existence and causes of climate
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By Frank Pallotta, CNN Business One month into the 2021 season, the NFL’s viewership is up around 17% compared to this time last year. The league is attracting an average of roughly 17 million viewers across its various network partners, according to Nielsen data. Those numbers are not only pretty good, but also represent a
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By Hanna Ziady, CNN Business The United Arab Emirates (UAE) has become the first country in the Persian Gulf to commit to net zero carbon emissions by 2050. But it’s not turning its back on oil just yet. The UAE government made the announcement at Expo 2020 in Dubai on Thursday. Meeting the target would
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