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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 ReadingIn 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 ReadingBy 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 ReadingBy 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 ReadingIn 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 ReadingCapitol 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 ReadingBy 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 ReadingBy 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 ReadingIn 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 ReadingBy 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 ReadingUS 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 ReadingBy 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 ReadingBy 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 ReadingBy 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
Continue ReadingOpinion by Mark Zandi for CNN Business Perspectives Long-dormant inflation has suddenly come back to life, putting a heavy financial weight on already hard-pressed American families struggling with the economic fallout from the Covid-19 pandemic. But hyperventilated rants about how uncomfortably high inflation is here to stay are misplaced. As the pandemic recedes, so too
Continue ReadingBy Alicia Wallace, CNN Business Job growth is outpacing economists’ expectations, and there’s still a long way — and 6.8 million jobs — to go before the nation’s labor market returns to levels seen before Covid-19. Economic recoveries, however, are not created equal, especially during a global pandemic that significantly altered the employment landscape. Many
Continue ReadingBy Paul R. La Monica, CNN Business Back in March, people were freaking out about rising long-term interest rates and inflation fears. But now the 10-year US Treasury yield has fallen back again. Does this mean: So much for inflation worries? Maybe higher prices are in fact, to cite Federal Reserve chair Jerome Powell’s favorite
Continue ReadingBy Chris Isidore and Gregory Wallace, CNN Business The seats are full on most planes, but in some cases, the fuel tanks are not. At several western US airports, there’s not enough jet fuel to meet the increased demand for leisure travel. That could end up causing some flights to be canceled or force airlines
Continue ReadingBy Jordan Valinsky, CNN Business The labels on Campbell’s soup cans are getting their first redesign in about 50 years. Eagled-eyed customers will notice that the famed red and white design remains, but the Campbell’s logo is receiving a “modernized logo scripture,” which includes eliminating the shadow and a slightly changed font that is based
Continue ReadingBy Julia Horowitz, CNN Business The economic outlook for rich countries is getting better while developing economies are falling behind. That’s according to the latest forecast from the International Monetary Fund. The organization on Tuesday confirmed its prediction that the global economy will expand by 6% this year. But while growth estimates for countries like
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