By Brian Fung, CNN The president of the Amazon Labor Union warned Sen. Lindsey Graham on Thursday that he risks ignoring the concerns of workers at his own political peril. At the opening of a Senate Banking Committee hearing focused on Amazon (AMZN), in which Graham used his initial remarks to blast the “demonization of
Continue ReadingCNN By Brian Fung, CNN The president of the Amazon Labor Union warned Sen. Lindsey Graham on Thursday that he risks ignoring the concerns of workers at his own political peril. At the opening of a Senate Banking Committee hearing focused on Amazon (AMZN), in which Graham used his initial remarks to blast the “demonization
Continue ReadingCNN, CNN BUSINESS By Brian Fung and Clare Duffy, CNN Elon Musk said Tuesday that he would restore former President Donald Trump’s banned account on Twitter if his deal to acquire the company is completed. Musk’s remarks at an automotive conference mark his first public acknowledgment of what had been widely expected since the billionaire
Continue ReadingBy Brian Fung, CNN Bill Gates sounded a note of caution this week on Elon Musk’s $44 billion acquisition of Twitter, saying the Tesla CEO “actually could make it worse” despite a strong track record with his other business ventures. While Gates did not precisely define what he meant by “worse” in remarks at the
Continue ReadingCNN By Jennifer Korn and Clare Duffy, CNN Business A wave of new legislation taking aim at abortion rights across the country is raising concerns about the potential use of personal data to punish people who seek information about or access to abortion services online. In some of the most restrictive states, digital rights experts
Continue ReadingBy Jennifer Korn and Clare Duffy, CNN Business Update: This story was originally published on May 6. It has been updated to reflect the Supreme Court’s final decision. The Supreme Court’s Friday ruling to overturn Roe v. Wade is almost certain to spark a wave of new state legislation taking aim at abortion rights, and
Continue ReadingBy Rachel Metz, CNN Business If you believe Mark Zuckerberg, the future is virtual. Last year, Meta plowed $10 billion into Facebook Reality Labs, the part of the company that develops virtual- and augmented-reality gadgets and software. The division is responsible for bringing to life the Facebook founder’s vision of a world where virtual reality
Continue ReadingBy Rachel Metz, CNN Business On a recent April afternoon I tossed a few things into a basket at Target — cereal, graham crackers, kids’ sunglasses — then sat down at the end of an aisle filled with beauty items, placed a hand into a box-like machine, and let a robot paint my fingernails. Made
Continue ReadingBy Jackie Wattles, CNN Business Three NASA astronauts and a European astronaut are returning home from the International Space Station, capping off their six-month mission during which they worked alongside Russian cosmonauts and hosted the first all-private crew to visit the orbiting outpost. The crew climbed aboard their SpaceX Crew Dragon capsule after midnight and
Continue ReadingBy Brian Fung, CNN New York City pension fund officials sued Activision Blizzard late last month in a bid to force the company to disclose records that may uncover whether CEO Bobby Kotick breached his fiduciary duty to investors, according to a newly released copy of the complaint. The complaint by the New York City
Continue ReadingCatherine Thorbecke, CNN Business Elon Musk said Twitter might soon charge fees for certain users, as the billionaire continues to tease how he might change the platform as its new owner. Musk, who struck a roughly $44 billion deal to buy Twitter last week, said in a tweet the platform will “always be free for
Continue ReadingBy Sara Ashley O’Brien, CNN Business Airbnb is once again trying to stop people from using its platform to host unauthorized parties ahead of key summer holidays. The company said Wednesday it will be instituting “strict anti-party measures” for Memorial Day weekend for the first time and will reapply the same approach for July 4th
Continue ReadingBy Brian Fung and Sara O’Brien, CNN Business Vice President Kamala Harris and Labor Secretary Marty Walsh will meet with union leaders Thursday including Christian Smalls, the former Amazon employee who helped successfully organize workers at an Amazon facility in Staten Island. The meeting, which will take place at the White House, will also involve
Continue ReadingBy Sara Ashley O’Brien, CNN Business Airbnb reported more than 100 million bookings during the first quarter of this year, a record for the company that underscores the turnaround from when its business was decimated in the early months of the pandemic. The resurgence in demand has sent the company’s rental rates to new heights
Continue ReadingBy Jackie Wattles, CNN Business Rocket Lab this week made an ostentatious attempt to catch a rocket as it fell from space using a hook-wielding helicopter that snagged the rocket mid-air only for the pilots to intentionally drop it moments later because of safety concerns. The display is all part of the company’s plan to
Continue ReadingCNN By Brian Fung, CNN Elon Musk appeared to endorse a key European law regulating social media on Monday when he appeared in a video with Thierry Breton, a top EU commissioner and digital regulator. In the video, Breton said he met with Musk to explain the finer points of the Digital Services Act, a
Continue ReadingCNN, CNN BUSINESS By Jackie Wattles, CNN Business Two passengers that flew on one of Blue Origin’s supersonic flights to the edge of space have shared footage of the 10-minute journey captured behind the scenes or inside the capsule during flight, giving a rare glimpse into the full experience. Cameron Bess — who rode alongside
Continue ReadingBy Jackie Wattles, CNN Business Two passengers that flew on one of Blue Origin’s supersonic flights to the edge of space have shared footage of the 10-minute journey captured behind the scenes or inside the capsule during flight, giving a rare glimpse into the full experience. Cameron Bess — who rode alongside their father, venture
Continue ReadingBy Brian Fung, CNN Business The Securities and Exchange Commission is vastly expanding its fight against cryptocurrency fraud by hiring more than a dozen new employees to combat cybercrime, the agency said Tuesday. The additional 20 positions will result in almost a doubling in size of the agency’s Cyber Unit, which is also being renamed
Continue ReadingCNN By Clare Duffy, CNN Business Meta said Thursday it is cutting back on hiring. The move is one of several shifts the Facebook parent company is making following a period of slower-than-usual growth. “We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this
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