Walmart will cover college tuition for its workers
Walmart is expanding its academic program to pay the full college tuition and book costs for its US workers at 10 partner schools.
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All bets are off if the Fed and White House are wrong about inflation
By Matt Egan, CNN Business The White House and the Federal Reserve broadly agree: Inflation isn’t here to stay. Red-hot prices will cool off as the US economy reopens. Most economists seem to concur that inflation is “transitory,” as the Fed puts it. Investors aren’t freaking out either about the biggest price hikes since 2008.
Continue ReadingBeijing calls for calm after historic tech stock rout
By Michelle Toh, CNN Business Chinese state media is urging investors to stay calm following a brutal stock market sell-off this week that has wiped out hundreds of billions of dollars in value. Chinese state-run newspaper Securities Times published a commentary Wednesday acknowledging the “changes in policy for certain industries” after a market rout on
Continue ReadingFacing an employee walkout, Activision Blizzard CEO says his company’s response to lawsuit was ‘tone deaf’
Nowhere is the gaming industry growing faster than the Middle East, and Dubai-based PLG is producing gaming tournaments, talk shows and livestreams for the region.
Continue ReadingFacing an employee walkout, Activision Blizzard CEO says his company’s response to lawsuit was ‘tone deaf’
By Rishi Iyengar, CNN Business Activision Blizzard’s CEO Bobby Kotick admitted that the gaming company’s response to a California discrimination lawsuit was “tone deaf” amid a growing employee backlash and accusations of a “frat boy” work culture. “Every voice matters — and we will do a better job of listening now, and in the future,”
Continue ReadingSee how right-wing networks covered January 6th hearing
CNN’s Brian Stelter takes a look at how One America News and other conservative outlets covered the January 6th hearing on the attack at the Capitol.
Continue ReadingApple posts a record June quarter thanks to iPhone sales
By Clare Duffy, CNN Business More than 14 years after they were first introduced, iPhones are still very much in demand. Apple on Tuesday announced a massive earnings beat for the three months ended June 26, thanks to a nearly 50% year-over-year jump in iPhone sales to $39.6 billion. The company posted total quarterly revenue
Continue ReadingGoogle revenue jumps 62%, fueled by demand for online advertising
In an interview with Bill O’Reilly, former President Donald Trump said he would sit for a deposition in his lawsuit against Facebook, Twitter and Google for banning him after the January 6 Capitol insurrection. CNN’s Jim Acosta and former Nixon White House counsel John Dean discuss.
Continue ReadingGoogle revenue jumps 62%, fueled by demand for online advertising
By Rishi Iyengar, CNN Business This time last year, Google was starting to feel the early pandemic slump as large parts of the global economy shut down. On Tuesday, the company showed just how far it’s come since. Google’s parent company Alphabet reported revenue of $61.9 billion for the quarter ended June 30, a staggering
Continue ReadingRobinhood reveals new regulatory probes on the eve of its blockbuster IPO
By Matt Egan, CNN Business Regulators are investigating the fact that Robinhood CEO Vlad Tenev is not licensed by FINRA, Wall Street’s powerful self-regulator, the online trading platform announced Tuesday. News of the probe comes more than five months after CNN Business reported that Tenev, the public face of Robinhood, is not registered with FINRA,
Continue ReadingIMF Managing Director: Vaccine inequality is ‘not good for anyone’
In an exclusive interview with CNN’s Richard Quest, IMF Managing Director Kristalina Georgieva discusses how vaccine inequality is widening the gap between the poorest and richest nations.
Continue Reading‘Disgraceful!’: Capitol officer confronts lawmakers downplaying riot
Capitol Officer Michael Fanone describes the danger he encountered at the hands of the Pro-Trump mob that breached the US Capitol on January 6 during the House select committee hearing.
Continue ReadingHow right-wing networks covered the January 6 hearing after months of soft-pedaling the Capitol attack
By Brian Stelter, CNN Business While viewers of other TV channels heard House Democrats denouncing the “whitewashing” of the January 6 attack, One America News viewers witnessed the whitewashing first-hand. On OAN, Tuesday’s select committee hearing about the insurrection barely happened at all. The channel’s poorly-produced programs avoided the substance of the hearing; slipped in
Continue ReadingUS sells one-of-a-kind copy of Wu-Tang Clan album seized from ‘Pharma Bro’ Martin Shkreli
By Moira Ritter, CNN Business The United States has sold the only physical copy ever made of the Wu-Tang Clan album “Once Upon a Time in Shaolin” after federal authorities seized it from former pharmaceutical executive Martin Shkreli, who was convicted of fraud in 2017. The Justice Department did not disclose who bought the album
Continue ReadingFacebook recalling 4 million Oculus Quest 2 headset components
In his first TV interview since leaving Facebook, former vice president of partnerships strategy Brian Boland reacts to President Biden’s statement that the platform is “killing people.” He says he quit Facebook partly because the company wasn’t doing enough to understand what it has built. “It can impact communities large and small in ways that we don’t understand,” he says.
Continue ReadingFacebook recalling 4 million Oculus Quest 2 headset components
By Clare Duffy, CNN Business Facebook on Tuesday announced it is temporarily pausing sales of its Oculus Quest 2 virtual reality headsets and recalling a component in around 4 million of the devices, in cooperation with the US Consumer Product Safety Commission. The company is voluntarily recalling the “removable foam facial interfaces” for the devices
Continue ReadingFacebook says it’s moving forward with Instagram for kids despite backlash
By Samantha Murphy Kelly, CNN Business Facebook on Tuesday reaffirmed its intention to build an Instagram for kids under 13, despite pressure from lawmakers to back down on the plan, while simultaneously announcing new updates to address concerns about the safety of younger users on its platforms. In a blog post, the company said it
Continue ReadingFacebook says it’s moving forward with Instagram for kids despite backlash
US Surgeon General Dr. Vivek Murthy says social media companies have taken positive steps against the sharing of health misinformation but that “it’s not enough” and responds to a Facebook official’s claim that the Biden administration is trying to scapegoat the company after failing to meet their July 4 vaccine goal.
Continue ReadingTesla just had a very good quarter. Wall Street is not impressed
By Chris Isidore, CNN Business The last time Tesla reported quarterly earnings this far above Wall Street expectations, in October of 2019, it started the stock on one of the most incredible bull runs ever. Not this time. Shares of Tesla were down 3% in early afternoon trading Tuesday, despite a strong second quarter that
Continue ReadingAmerica’s largest retailer will cover 100% of college tuition for its workers
By Nathaniel Meyersohn, CNN Business Walmart will pay for full college tuition and book costs at some schools for its US workers, the latest effort by the largest private employer in the country to sweeten its benefits as it seeks to attract and retain talent in a tight job market. The program includes 10 academic
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