CNN By Jackie Wattles, CNN Business The director of the United Nations’ World Food Programme laid out a plan to spend $6.6 billion to combat world hunger — a direct response to a back-and-forth with Tesla CEO Elon Musk, who claimed he would sell Tesla stock to fund a plan if the WFP could describe
Continue ReadingBy Jackie Wattles, CNN Business The director of the United Nations’ World Food Programme laid out a plan to spend $6.6 billion to combat world hunger — a direct response to a back-and-forth with Tesla CEO Elon Musk, who claimed he would sell Tesla stock to fund a plan if the WFP could describe “exactly
Continue ReadingBy Sara Ashley O’Brien, CNN Business Journalist Roger Parloff, who wrote the first major cover story on Theranos’ Elizabeth Holmes and later issued a retraction, was called to testify in her criminal trial Thursday. The government has alleged Holmes used the media, and Parloff’s Fortune Magazine story titled “This CEO is Out for Blood” in
Continue ReadingCNN By Clare Duffy, CNN Business Entering the new Amazon Web Services Skills Center is a bit like walking into a high-tech museum. Among its exhibits are a rotating, globe-shaped screen that displays images of planets or weather patterns, an interactive “smart home” model and a table full of small robot vehicles trained by machine
Continue ReadingBy Clare Duffy, CNN Business Entering the new Amazon Web Services Skills Center is a bit like walking into a high-tech museum. Among its exhibits are a rotating, globe-shaped screen that displays images of planets or weather patterns, an interactive “smart home” model and a table full of small robot vehicles trained by machine learning.
Continue ReadingBy Yoonjung Seo, CNN Business Tim Sweeney is on a mission. The Epic Games CEO has been mounting a relentless attack on Apple, after the tech giant kicked his company’s hugely popular video game Fortnite off the App Store. Apple said at the time that Epic flouted rules on digital payments by establishing its own
Continue ReadingBy Rishi Iyengar, CNN Business Apple plans to give customers the ability to repair their own devices amid growing pressure from regulators and consumers around the world for manufacturers to ease restrictions on fixing products. The company on Wednesday announced a new program that will make spare parts for Apple products available to purchase starting
Continue ReadingBy Rishi Iyengar, CNN Business Activision Blizzard confronted its second employee walkout in less than six months after a report raised new questions about CEO Bobby Kotick’s knowledge of longstanding and widespread sexual harassment and discrimination allegations at the video game company. More than 100 Activision Blizzard employees staged a walkout on Tuesday calling for
Continue ReadingBy Michelle Toh, CNN Business Google is making its largest-ever investment in Australia, after a clash with the government that saw the tech giant threaten to shut down search there earlier this year. CEO Sundar Pichai announced Monday that the company would devote 1 billion Australian dollars (about $736 million) to the country over the
Continue ReadingBy Clare Duffy, CNN Business Ohio Attorney General Dave Yost on Monday announced that he is suing Meta, the social media giant formerly known as Facebook, based on revelations from whistleblower Frances Haugen and the trove of internal company documents she leaked. The securities lawsuit, filed on behalf of the Ohio Public Employees Retirement System
Continue ReadingCNN By Matt McFarland, CNN Business The indoor cycling craze has come for America’s kids, and child development experts aren’t happy. Little Tikes, the children’s toymaker, watched sales of Peloton’s stationary bikes soar last year when the pandemic hit. It saw a chance to create something for children to enjoy alongside their parents, according to
Continue ReadingBy Samantha Murphy Kelly, CNN Business The global chip shortage is making it harder for shoppers to get their hands on some of the most sought after tech gadgets of the holiday season. In the six weeks leading up to Christmas, some of Apple’s biggest new products — including certain iPhone 13 models, some newer
Continue ReadingBy Sara Ashley O’Brien, CNN Business The biggest news this week in the criminal trial of Elizabeth Holmes is that the government expects to rest its case against the former CEO and founder of failed blood testing company Theranos in a matter of days. In a surprise disclosure after jurors were excused for a long
Continue ReadingBy Michelle Toh, CNN Business China’s leading chipmaker is going through another massive leadership shake-up. Semiconductor Manufacturing International Corporation (SMIC) announced a wave of resignations in stock exchange filings Thursday evening. As many as four directors stepped down effective immediately, including Vice Chairman Chiang Shang-yi, who had joined the company just barely a year ago
Continue ReadingBy Jackie Wattles, CNN Business A SpaceX Crew Dragon capsule carrying four astronauts approached the International Space Station, which orbits more than 200 miles above Earth, and made a gentle in-orbit meet-up, kicking off the astronauts’ six-month stay at the space station. This mission, called Crew-3, is the fourth mission in a partnership between SpaceX
Continue ReadingBy Jackie Wattles, CNN Business A SpaceX Crew Dragon capsule carrying four astronauts roared into outer space atop a Falcon 9 rocket on Wednesday, marking the kick off of SpaceX’s fifth crewed mission to orbit. The spacecraft, with three NASA astronauts and one European astronaut onboard, will spend all day Wednesday maneuvering closer to the
Continue ReadingBy 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
Continue ReadingBy 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,
Continue ReadingBy 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 ReadingBy 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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