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CNN By Sean Lyngaas, CNN Business Apple on Tuesday sued NSO Group and its parent company, accusing the Israeli firm of violating a federal anti-hacking law by selling potent software that clients have used to spy on Apple customers. The lawsuit, filed in a federal court in California, alleges that NSO’s spyware, known as Pegasus,
Continue ReadingBy Sean Lyngaas, CNN Business Apple on Tuesday sued NSO Group and its parent company, accusing the Israeli firm of violating a federal anti-hacking law by selling potent software that clients have used to spy on Apple customers. The lawsuit, filed in a federal court in California, alleges that NSO’s spyware, known as Pegasus, and
Continue ReadingBy Evan Simko-Bednarski, CNN A jury in Ohio ruled Tuesday that three major pharmaceutical chains bore responsibility for the opioid epidemic in two Ohio counties. The civil case, brought in federal court against CVS, Walmart and Walgreens, marks the first time pharmacies have been found responsible in the nationwide epidemic. “It is a precedent setting
Continue ReadingCNN, KPIX, SALESFORCE, CRAIG CANNON, NORTHBROOK POLICE DEPARTMENT, OAK BROOK POLICE DEPARTMENT, CONCORD POLICE, STRINGER, ONSCENE, Stringer/OnScene By Parija Kavilanz, CNN Business Best Buy CEO Corie Barry said theft is a growing problem at the company’s stores — and it is implementing added security measure to safeguard employees and shoppers. “This is traumatizing for our
Continue ReadingCNN By Chris Isidore, CNN Business The holiday travel season is off to a relatively smooth start, with good weather and few canceled flights. But many in the industry are worried that luck won’t hold all the way until the holiday season ends just after New Year’s. Major US airlines are operating with fewer pilots
Continue ReadingBy Chris Isidore, CNN Business The holiday travel season is off to a relatively smooth start, with good weather and few canceled flights. But many in the industry are worried that luck won’t hold all the way until the holiday season ends just after New Year’s. Major US airlines are operating with fewer pilots and
Continue ReadingBy Nathaniel Meyersohn, CNN Business Store workers at major US chains are getting to spend Thanksgiving at home as more retailers decide to close their doors for the holiday. But not all retail staff will get the day off. Target said Monday that it will close all of its stores on Thanksgiving every year from
Continue ReadingBy Parija Kavilanz, CNN Business Best Buy CEO Corie Barry said theft is a growing problem at the company’s stores — and it is implementing added security measure to safeguard employees and shoppers. “This is traumatizing for our associates and is unacceptable,” Barry said on a call with analysts Tuesday. “We are doing everything we
Continue ReadingBy Paul R. La Monica, CNN Business President Biden and Federal Reserve chair Jerome Powell are committed to fighting inflation. But the two may face an uphill battle bringing consumer prices down due to a factor that many experts may not be pricing into the economic picture: the rise of ESG investing. Investors have increasingly
Continue ReadingCNN, KYW By Anneken Tappe, CNN Business US price surges eased in the third quarter of the year. But they climbed to a more than 30-year high in October — showing the pandemic price hikes are clearly not behind us yet. A deluge of economic data ahead of the Thanksgiving holiday highlights how the pandemic
Continue ReadingBy Walé Azeez, CNN Business China confirmed on Wednesday that it would join the United States and other major energy-consuming nations in releasing strategic oil reserves to try to cool high prices and tame inflation. The White House announced Tuesday that the United States would release about 50 million barrels from its Strategic Petroleum Reserve,
Continue ReadingCNN, CNNBUSINESS By Matt Egan, CNN Business The surge in oil prices this year has angered drivers, tainted Americans’ views on the economy and confounded both the White House and Federal Reserve. Unfortunately, JPMorgan Chase says the oil spike is just getting started. In a new report on Monday, JPMorgan warned clients that Brent crude
Continue ReadingBy Jordan Valinsky, CNN Business Perhaps one of the greatest mysteries of Thanksgiving is the cranberry sauce — and we’re not talking about why people eat it: Why are the labels on Ocean Spray cans upside down? Observant consumers have noticed that the labels on jellied cranberry sauce cans are flipped, meaning the rounded edge
Continue ReadingBy Nathaniel Meyersohn, CNN Business Dollar Tree will soon be $1.25 tree. The company — one of America’s last remaining true dollar stores — said Tuesday it will raise prices from $1 to $1.25 on the majority of its products by the first quarter of 2022. The change is a sign of the pressures low-cost
Continue ReadingBy Nathaniel Meyersohn, CNN Business Expect to pay more for some of your favorite cereals, snacks, soups and cooking brands next year. General Mills notified retail customers that it’s raising prices in mid-January on hundreds of items across dozens of brands. They include Annie’s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch,
Continue ReadingBy Anna Cooban, CNN Business A British bank has adopted a four-day work week for all its employees without cutting pay, saying it’s the largest UK company so far to make such a move. Atom Bank announced on Tuesday that it had also reduced the weekly hours of its 430 staff to 34 from 37.5
Continue ReadingBy Jackie Wattles, CNN Business Jeff Bezos’ rocket company, Blue Origin, announced that it would be launching Good Morning America host Michael Strahan to the edge of space. Strahan will be joined by the daughter of the first American astronaut and four paying customers. Liftoff is slated for 9:30 am CT on December 9 from
Continue ReadingBy Julia Horowitz, CNN Business The news moves fast. Yesterday, we looked at whether President Joe Biden would reappoint Federal Reserve Chair Jerome Powell, one of the most powerful figures guiding the global economy. The answer came quickly. What’s happening: On Monday morning, Biden formally announced his intent to nominate Powell to a second four-year
Continue ReadingBy Michelle Toh, CNN Business Xiaomi stumbled in the third quarter as it grappled with fallout from the global chip shortage and fiercer competition. The Chinese company, which only recently became the world’s second-biggest smartphone maker, fell back to third place behind Apple in the three months ended September, according to Counterpoint Research and Canalys.
Continue ReadingBy Jill Disis, CNN Business Paytm is starting to stage a recovery from its disastrous stock market debut last week, but the digital payments firm faces an uphill battle winning over investors worried about its ability to turn a profit in the face of growing competition. Shares of the Indian company — trading under the
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