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By Sara Ashley O’Brien, CNN Business Jury selection began Tuesday in a San Jose federal courtroom for the long-awaited trial of Elizabeth Holmes, the former CEO and founder of Theranos. The day kicked off what is likely to be a months-long affair under intense media scrutiny. Central to questioning of potential jurors was the concern
Continue ReadingCNN, HLN, WDSU By Matt Egan, CNN Business The Biden administration is releasing 1.5 million barrels of crude oil from America’s emergency stockpile of oil as Louisiana’s gas crisis worsens. The decision to tap the Strategic Petroleum Reserve, or SPR, comes as two-thirds of the gas stations in New Orleans and Baton Rouge are out
Continue ReadingBy Matt Egan, CNN Business A large chunk of gas stations in Louisiana cities don’t have fuel in the aftermath of Hurricane Ida, according to outage figures compiled by GasBuddy. As of 3:30 pm Central Time, 35.2% of the gas stations in Baton Rouge didn’t have fuel, according to GasBuddy, an app that tracks fuel
Continue ReadingBy Rishi Iyengar, CNN Business Google has yet again postponed a full return to the office, announcing that its employees can continue to work remotely until next year. The decision follows similar ones already made by the company’s tech industry peers like Facebook and Amazon. Google workers around the world will not be required to
Continue ReadingBy Chauncey Alcorn, CNN Business Pearl Milling Company unveiled a new ad campaign this week to remind pancake and syrup lovers that although the brand changed its name from Aunt Jemima earlier this year, it still tastes the same. The only mention of the old brand in the new brand’s commercials is a brief fine-print
Continue ReadingCNN, CNNBUSINESS By Masoud Popalzai and Rob Picheta, CNN Four days after the Taliban’s takeover of Afghanistan, 20-year-old YouTuber Najma Sadeqi sat on her bed and recorded a final video to tens of thousands of followers. Usually, her posts would show her cooking or exploring Kabul alongside her friends, in bright clothes and with cheerful
Continue ReadingBy Kerry Flynn, CNN Business Mike Richards is out as executive producer of “Jeopardy!” and “Wheel of Fortune,” Sony, the company behind the two shows, announced Tuesday. The news comes after a turbulent past month for “Jeopardy!” in which Richards was first named its new host and then stepped down about a week later amid
Continue ReadingBy Paul R. La Monica, CNN Business Investors may still be nervous about the Delta variant and Afghanistan. But Federal Reserve Chair Jerome Powell eased many worriers on Friday when he signaled that the central bank is not going to hit the panic button anytime soon over inflation concerns. Wall Street sentiment has improved dramatically
Continue ReadingBy Jordan Valinsky, CNN Business Microsoft is rolling out its newest operating system, Windows 11, earlier than expected for some PC users. Starting October 5, the company will begin a “phased and measured” approach to the free upgrades, in which newer devices will be given priority over older equipment. Microsoft had previously said it expected
Continue ReadingBy Chauncey Alcorn, CNN Business Advocates for increasing Asian American and Pacific Islander representation in film and television are doing everything they can to ensure Disney and Marvel’s “Shang-Chi and the Legend of the Ten Rings” scores a knockout at the box office when it opens in theaters Friday. The martial arts superhero film featuring
Continue ReadingBy Julia Horowitz, CNN Business Digital payments are booming in India — and Prosus, the tech investment firm, wants a bigger piece of the action. The Netherlands-based company said Tuesday that it had agreed a $4.7 billion deal to buy Indian digital payments provider BillDesk. Prosus plans to merge BillDesk with its own fintech business,
Continue ReadingCNN, CNNBUSINESS By Wayne Chang and Jill Disis, CNN Business The Chinese version of hit video game “Fortnite” is shutting down this month. The game stopped accepting registrations for new players and was no longer available for download as of Monday, according to a statement on its website. Its servers will be shut down November
Continue ReadingBy Matt Egan, CNN Business Progressive Democrats, including New York Rep. Alexandria Ocasio-Cortez, are calling on President Joe Biden to give the Federal Reserve a sweeping makeover by replacing Jerome Powell as chairman. “We urge President Biden to reimagine a Federal Reserve focused on eliminating climate risk and advancing racial and economic justice,” the lawmakers
Continue ReadingBy Jeanne Sahadi, CNN Business So many factors go into deciding whether to quit your job, but pay is a big one. Even if money isn’t your top priority, it’s important to figure out how much you’re actually getting from your current employer because what you make is more than just your salary or wage.
Continue ReadingBy Diksha Madhok, CNN Business India’s economy grew at a record pace in the second quarter, even as the country grappled with a devastating wave of Covid-19. But Asia’s third largest economy isn’t out of the woods yet and remains smaller than at the start of the pandemic. GDP rose 20.1% in the three months
Continue ReadingBy Peter Valdes-Dapena, CNN Business Cruising up a highway heading north out of New York City, the bright white Jeep Grand Wagoneer I was driving got the sort of attention usually given to Lamborghinis and Ferraris. Other vehicles maneuvered to get a better look and smartphones were held out through car windows for a shot.
Continue ReadingBy Paul R. La Monica, CNN Business Zoom Video Communications was one of the clear winners of the pandemic economy. But as more people return to the office and classroom, the company now faces a bigger challenge: living up to Wall Street’s hype. Shares of Zoom plunged more than 15% Tuesday morning and are now
Continue ReadingBy Jordan Valinsky, CNN Business From coffee to candy to macaroni and cheese, it’s possible to think that pumpkin spice has peaked. Not so fast. Bud Light is releasing its first-ever hard seltzer featuring the fall flavor. The alcoholic beverage includes a blend of pumpkin, cinnamon, nutmeg and vanilla flavors that the company describes as
Continue ReadingCNN, CNN BUSINESS By Jordan Valinsky, CNN Business From coffee to candy to macaroni and cheese, it’s possible to think that pumpkin spice has peaked. Not so fast. Bud Light is releasing its first-ever hard seltzer featuring the fall flavor. The alcoholic beverage includes a blend of pumpkin, cinnamon, nutmeg and vanilla flavors that the
Continue ReadingBy Julia Horowitz, CNN Business As the economic recovery from Covid-19 has progressed this year, investors have had plenty of opportunities to place winning bets. Wagering against the bull run in stocks hasn’t been one of them. What’s happening: The S&P 500 and the Nasdaq Composite both closed at all-time highs on Monday after shares
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