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CNN By Paul R. La Monica, CNN Business Disney investors aren’t having as awful a year as Netflix shareholders. But that’s not saying much. Netflix’s stock has plunged more than 40% this year, ahead of its first quarter earnings release after the closing bell Tuesday. Meanwhile, shares of Disney have dropped nearly 15% so far
Continue ReadingBy Paul R. La Monica, CNN Business Disney investors aren’t having as awful a year as Netflix shareholders. But that’s not saying much. Netflix’s stock has plunged more than 40% this year, ahead of its first quarter earnings release after the closing bell Tuesday. Meanwhile, shares of Disney have dropped nearly 15% so far in
Continue ReadingCNN, CNNBUSINESS By Julia Horowitz, CNN Business The International Monetary Fund has slashed its expectations for global economic growth over the next two years because of Russia’s invasion of Ukraine, comparing the ripple effects from the conflict to an “earthquake.” “The economic effects of the war are spreading far and wide,” the organization said in
Continue ReadingBy Matt Egan, CNN Business Prices at the pump have stopped falling from their recent highs — and some forecasters are warning of another uptick as the summer driving season looms and the war in Ukraine continues. After a slow-but-steady decline, the national average price for regular gasoline bottomed out at $4.07 a gallon last
Continue ReadingBy Danielle Wiener-Bronner, CNN Business Popeyes has big expansion plans for 2022. The chicken chain is set to open more than 200 new locations in the United States and Canada this year, the company announced Tuesday. Popeyes also said it will launch additional locations in several other places around the world, including in South Korea,
Continue ReadingBy Jeanne Sahadi, CNN Business Most people who are required to file 2021 tax returns will have done so by the official filing due date — Monday, April 18. Or they applied for an extension, giving them until October 17 to file their returns. But you’re not most people. You did neither. The question now
Continue ReadingBy Brian Stelter, CNN Business Joe Kahn, the managing editor of The New York Times, will succeed Dean Baquet as executive editor in June. Kahn, a 24-year veteran of the news organization and Baquet’s second in command, was thought to be the favorite for the top Times newsroom job. Publisher A. G. Sulzberger confirmed it
Continue ReadingBy Julia Horowitz, CNN Business The International Monetary Fund has slashed its expectations for global economic growth over the next two years because of Russia’s invasion of Ukraine, comparing the ripple effects from the conflict to an “earthquake.” “The economic effects of the war are spreading far and wide,” the organization said in its latest
Continue ReadingCNN, CNNBUSINESS By Laura He, CNN Business Investors are ditching China at an unprecedented scale as a cocktail of political and business risks, and rising interest rates elsewhere, make the world’s second biggest economy a less attractive place to keep their money. China witnessed $17.5 billion worth of portfolio outflows last month, an all-time high,
Continue ReadingBy Julia Horowitz, CNN Business As the World Bank and the International Monetary Fund kick off their spring meetings this week, both are sounding a warning: The global economy, they say, is quickly losing steam. What’s happening: The World Bank has slashed its forecast for global growth in 2022 to 3.2% from 4.1%, anticipating a
Continue ReadingCNN 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. Netflix will report first quarter earnings on Tuesday afternoon, setting the bar for a season of financial reports that will reveal a whole lot about the state of streaming.
Continue ReadingBy Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Netflix will report first quarter earnings on Tuesday afternoon, setting the bar for a season of financial reports that will reveal a whole lot about the state of streaming. The
Continue ReadingBy Pete Muntean and Dave Alsup, CNN After a federal judge in Florida struck down the Biden administration’s mask mandate for airplanes and other public transport methods, airlines are starting to act. Several US airlines announced Monday that masks are now optional on their aircraft — Delta Air Lines, American Airlines, United Airlines, Southwest Airlines,
Continue ReadingCNN By Pete Muntean and Dave Alsup, CNN After a federal judge in Florida struck down the Biden administration’s mask mandate for airplanes and other public transport methods, airlines are starting to act. Several US airlines announced Monday that masks are now optional on their aircraft — Delta Air Lines, American Airlines, United Airlines, Southwest
Continue ReadingBy Chris Isidore and Sara Ashley O’Brien, CNN Business Some employees at the Apple store at New York’s Grand Central Terminal are seeking to form a union, the latest high-profile labor organizing effort to take root in the pandemic era. A person familiar with the matter told CNN Business that workers at the Grand Central
Continue ReadingBy Matt Egan, CNN Business Natural gas futures surged on Monday to levels unseen since 2008 as the Northeast braces for a rare April blast of heavy snow. The looming nor’easter will force millions of families to crank up the heat in the coming days, driving up demand for natural gas, the most popular way
Continue ReadingBy Matt Egan Faced with a white-hot real estate market, renters are losing confidence they will ever own a home. On average only 43.3% of renters expect to own a home at some point in the future, down sharply from 51.6% in 2021, according to a Federal Reserve Bank of New York survey released on
Continue ReadingBy Paul R. La Monica, CNN Business Tesla is in a highly competitive electric car market. It has no chief operating officer. And CEO Elon Musk was already busy juggling leadership roles at SpaceX, The Boring Company and Neuralink before he launched an unsolicited takeover offer for Twitter. That’s a lot of distractions. And it
Continue ReadingCNN By Paul R. La Monica, CNN Business Tesla is in a highly competitive electric car market. It has no chief operating officer. And CEO Elon Musk was already busy juggling leadership roles at SpaceX, The Boring Company and Neuralink before he launched an unsolicited takeover offer for Twitter. That’s a lot of distractions. And
Continue ReadingBy Uliana Pavlova, Chris Liakos and Anna Cooban, CNN Business The exodus of Western companies from Russia could cost hundreds of thousands of jobs in Moscow alone. The city’s mayor, Sergey Sobyanin, said in a blog post Monday that 200,000 people were at risk of losing their jobs. Authorities were setting aside 3.36 billion rubles
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