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By Julia Horowitz, CNN Business The risk to tech stocks from increased regulation isn’t new. But it’s clearly increasing. What’s happening: A House of Representatives committee just moved forward sweeping bills meant to rein in big tech companies like Google and Facebook. Meanwhile, authorities in the European Union and the United Kingdom have announced new
Continue ReadingBy Rishi Iyengar, CNN Business Last year, Google and Facebook collectively bet more than $10 billion on Asia’s richest man and his plan to bring hundreds of millions of Indians online. The investments quickly established Mukesh Ambani, the billionaire head of sprawling Indian conglomerate Reliance, as a gatekeeper for Silicon Valley in the country —
Continue ReadingBy Rishi Iyengar, CNN Business Last year, Google and Facebook collectively bet more than $10 billion on Asia’s richest man and his plan to bring hundreds of millions of Indians online. The investments quickly established Mukesh Ambani, the billionaire head of sprawling Indian conglomerate Reliance, as a gatekeeper for Silicon Valley in the country —
Continue ReadingBy Clare Duffy and Alan Goodman, CNN Business John McAfee, the controversial antivirus software magnate who’d had multiple recent run-ins with the US law, has died at 75. McAfee was awaiting extradition in a Spanish prison after being charged with tax evasion in the United States last year. McAfee was found dead in his cell
Continue ReadingBy Alexis Benveniste, CNN Business Coca-Cola thought personalized bottles might bring some summer fun to its fans. Instead, it met the internet. The company’s make-your-own label promotion lets customers write short messages on custom Coke bottles. Although Coca-Cola tried to block some slurs and trademarks, social media users were quick to discover that the company’s
Continue ReadingBy Parija Kavilanz, CNN Business When walking into a traditional department store or browsing your favorite online retailer, shoppers typically navigate clothing options by first choosing a section based on its gender label: Men’s or Women’s, Girl’s or Boy’s. But some fashion-lovers don’t identify within this gender binary, and they, and in particular Gen Z
Continue ReadingBy Alicia Wallace, CNN Business Amazon certainly wasn’t the first major corporation to arrive at the cannabis reform party, but it sure made one of the biggest entrances to-date when it publicly pledged to relax its drug testing policies and also to back federal legalization efforts. And now it’s a question of how many others
Continue ReadingHong Kong’s biggest pro-democracy newspaper, Apple Daily, will close its print and digital production as Beijing tightens its grip.
Continue ReadingBy Nathaniel Meyersohn, CNN Business Shoppers aren’t showing any signs of getting tired of Amazon Prime Day, even though some sellers had said they weren’t planning on offering deals this year. Amazon said that Prime Day, held this past Monday and Tuesday, was the biggest two-day sales period for third-party sellers in the company’s history.
Continue ReadingBy Frank Pallotta, CNN Business Dating is hard. But at least it doesn’t require you to woo your beloved while dressed as a dolphin and they’re in full makeup, wearing a scarecrow outfit. Unless you’re a contestant on Netflix’s new series,”Sexy Beasts.” More fever dream than dating competition, “Sexy Beasts” is the latest reality series
Continue ReadingBy Brian Fung and Clare Duffy, CNN Business Over the last two decades, a handful of large tech companies have pushed into nearly every corner of our lives — from communications and retail to financial services, healthcare and automobiles. The companies’ biggest critics accuse them of scooping up rivals, launching copycat products and, in some
Continue ReadingBy Brian Fung and Clare Duffy, CNN Business Over the last two decades, a handful of large tech companies have pushed into nearly every corner of our lives — from communications and retail to financial services, healthcare and automobiles. The companies’ biggest critics accuse them of scooping up rivals, launching copycat products and, in some
Continue ReadingBy Anneken Tappe, CNN Business The US economy is inching back to normal. But the recovery remains uneven and some states are lagging behind in the race to get back to pre-pandemic strength — especially New York. Although several states’ economies have already fully recovered — and are even outpacing — their pre-Covid levels of
Continue ReadingBy Paul R. La Monica and Rob McLean, CNN Business Morgan Stanley plans to ban workers from its New York headquarters if they have not received a Covid-19 vaccine. The rule will apply to non-vaccinated guests and clients as well. According to a source close to the company, Morgan Stanley said in a memo to
Continue ReadingBy Hanna Ziady, CNN Business A deal to release the Ever Given could soon be reached, freeing the quarter-mile-long container ship and the hundreds of millions of dollars worth of cargo it was carrying when it blocked the Suez Canal three months ago. An Egyptian court seized the ship and its 18,300 containers, after the
Continue ReadingBy Jordan Valinsky, CNN Business Warren Buffett has resigned from his trustee position at the Bill and Melinda Gates Foundation, the 90-year-old investor announced Wednesday. In a statement, Buffett didn’t specify why he’s leaving the foundation, but noted he has already resigned from all corporate boards other than Berkshire Hathaway’s. Buffett added that the foundation’s
Continue ReadingBy Julia Horowitz, CNN Business Supply chain issues and other post-pandemic headaches can’t mask this reality: The global economic recovery is powering ahead. What’s happening: Business activity within the 19 countries that use the euro grew at the fastest rate in 15 years in June, according to the Purchasing Managers’ Index from IHS Markit, a
Continue ReadingBrian Stelter speaks with WSJ reporter Elaine Yu about the recent arrests at Apple Daily, a pro-democracy newspaper in Hong Kong. Then he interviews Mark Simon, assistant to Apple Daily chairman Jimmy Lai, who is also behind bars. “Folks, if you don’t have a free press, you do not have a free society,” Simon says.
Continue ReadingBy Jenni Marsh, CNN Business One year was all it took for a Beijing-imposed National Security Law to take down Hong Kong’s largest and loudest pro-democracy newspaper. Next Media announced Wednesday that Apple Daily, its flagship tabloid, would publish its final copy Thursday due to an untenable environment in which its journalists had been arrested
Continue ReadingBy Michelle Toh, CNN Business Bitcoin returned above the $30,000 mark on Wednesday, highlighting the extreme volatility that has plagued cryptocurrencies in recent months. The digital currency has jumped 5.4% over the last 24 hours, reaching $34,368 per coin, according to CoinDesk. That’s a U-turn from Tuesday, which saw bitcoin plunge below $30,000 for the
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