The latest on the April jobs report
From CNN’s Alicia Wallace, Krystal Hur and Bryan Mena The-CNN-Wire™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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US labor market heats back up, adding 253,000 jobs in April
By Alicia Wallace, CNN The US labor market that was poised for a spring cool just got a touch of heat. The economy added 253,000 jobs in April, according to data released Friday by the Bureau of Labor Statistics. It’s a surprising increase at a time when many indicators were pointing to a slowdown in
Continue ReadingHSBC wins battle with biggest shareholder over call to break up bank
By Michelle Toh and Anna Cooban, CNN HSBC has seen off an attempt by its biggest shareholder to break up the bank, with an “overwhelming majority” of investors voting Friday to keep the business intact. Shareholders of Europe’s biggest bank gathered at its annual general meeting in the English city of Birmingham Friday. One particularly
Continue ReadingThis Asian combat sports promoter wants to crack the US market — without the bloodlust and trash-talking
By Andrew McNicol, CNN First they were seen as cage-fighting meat heads. Then testosterone-fueled trash talkers wearing expensive suits. Could 2023 be the year mixed-martial arts (MMA) in the United States finally returns to its pure, humble beginnings nurtured in Asia nearly 5,000 years ago? “Our mission is not to stage the biggest, bloodiest fights
Continue ReadingAustralia’s exports to China hit record high as relations thaw
By Laura He, CNN Australia’s exports to China hit a record high in March, as Chinese buyers snapped up Australian commodities from coal to iron ore amid a thaw in bilateral relations. The country’s shipments to China reached 19 billion Australian dollars ($12.8 billion) in March, up 28% from the previous month and 31% from
Continue ReadingAuthorities in northeast India give ‘shoot-at-sight’ orders after violent skirmishes over tribal rights
By Rhea Mogul and Manveena Suri, CNN Authorities in the northeastern Indian state of Manipur have issued “shoot-at-sight” orders after violence broke out this week between tribal and non-tribal groups that saw properties and vehicles set ablaze. The state’s governor, Anusuiya Uikey, issued the order on Thursday in a bid to “maintain public order and
Continue ReadingThis is Google’s new folding phone
By Samantha Murphy Kelly, CNN Just a few days ahead of its product launch, Google unveiled an early look at its first foldable smartphone. In a video posted to Twitter and YouTube, the company teased a Pixel phone with a vertical hinge that can be opened to reveal a tablet-like display. The company will host
Continue ReadingApple posts second consecutive quarterly revenue decline
By Catherine Thorbecke and Clare Duffy, CNN Apple on Thursday reported that its revenue fell 3% to $94.8 billion for the first three months of the year, as consumers scale back spending on smartphones and computers due to looming recession fears. The company’s revenue was slightly better than what Wall Street had expected, but it
Continue ReadingBiden administration unveils an AI plan ahead of meeting with tech CEOs
CNN By Brian Fung, CNN The White House on Thursday announced a series of measures to address the challenges of artificial intelligence, driven by the sudden popularity of tools such as ChatGPT and amid rising concerns about the technology’s potential risks for discrimination, misinformation and privacy. The US government plans to introduce policies that shape
Continue ReadingNew York MTA resumes transit alerts on Twitter
By Brian Fung, CNN New York’s Metropolitan Transportation Authority said it would resume posting automated transit alerts to Twitter on Thursday after the social media company backtracked on a plan to charge public service accounts for access to the platform. In a statement Thursday, MTA Acting Chief Customer Officer Shanifah Rieara said Twitter had tried
Continue ReadingMovie theaters are most at risk if the writers’ strike drags on, Moody’s says
CNN By Vanessa Yurkevich, CNN Already strained movie theater companies could be hurt most from the Writers Guild of America strike, according to an analysis released Thursday. The strike by film and TV writers entered its third day Thursday, with no negotiations currently scheduled with the Alliance of Motion Pictures and Television Producers, which represents
Continue ReadingMovie theaters are most at risk if the writers’ strike drags on, Moody’s says
By Vanessa Yurkevich, CNN Already strained movie theater companies could be hurt most from the Writers Guild of America strike, according to an analysis released Thursday. The strike by film and TV writers entered its third day Thursday, with no negotiations currently scheduled with the Alliance of Motion Pictures and Television Producers, which represents management
Continue ReadingParamount shares plunge more than 25% following dismal earnings
By Jordan Valinsky, CNN Business Paramount Global shares plunged more than 25% after a dismal first-quarter earnings report. Citing a weak advertising market in its TV business, the company also cut its dividend sharply. Paramount+ reached 60 million global subscribers and revenue grew 65% year over year. But losses of its direct-to-consumer unit grew to
Continue ReadingJury finds Ed Sheeran did not infringe on the copyright of ‘Let’s Get It On’
By Lauren del Valle, Nicki Brown and Sabrina Souza, CNN A Manhattan jury found Ed Sheeran’s hit “Thinking Out Loud” did not infringe on the copyright of the classic Marvin Gaye song “Let’s Get It On.” The jury determined that Sheeran did not wrongfully copy compositional elements or melodies from “Let’s Get It On.” The
Continue ReadingIt’s ‘too early’ to assess any potential Bud Light backlash, Anheuser-Busch CEO says
By Jordan Valinsky, CNN Business Anheuser-Busch InBev CEO Michel Doukeris addressed the Bud Light controversy in the company’s earnings call Thursday, saying it’s “too early to have a full view” of the impact of sponsoring an Instagram post by transgender influencer Dylan Mulvaney. “The Bud Light volume decline in the US over the first three
Continue ReadingKroger will pay $68 million in West Virginia opioid settlement
By Nathaniel Meyersohn, CNN Kroger will pay $68 million to resolve a lawsuit in West Virginia alleging the company contributed to the oversupply of opioids in the state and failed to maintain effective controls. West Virginia Attorney General Patrick Morrisey on Thursday announced the settlement in a statement. Kroger was the last remaining defendant in
Continue ReadingFox says it settled Dominion lawsuit to ‘buy peace,’ as it tries to block release of more material in the case
By Oliver Darcy, CNN Business Fox said in a court filing Wednesday that it settled the monster defamation lawsuit brought by Dominion Voting Systems for $787.5 million to “buy peace,” and strongly opposed motions to unseal additional redacted material in the case. “Fox agreed to settle this case, with this Court’s encouragement, in large part
Continue ReadingMortgage rates remain volatile, tick down after climbing for two weeks
By Anna Bahney, CNN The only thing consistent about mortgage rates right now is that they are volatile in the wake of mixed economic signals and recent bank failures. Mortgage rates ticked down this week, after climbing for two weeks in a row. The 30-year fixed-rate mortgage averaged 6.39% in the week ending May 4,
Continue ReadingWestern Alliance denies ‘shameful’ report it’s the next bank for sale
By Krystal Hur, CNN Western Alliance Bank denied reports that it’s exploring a sale or has hired an advisor to explore strategic options. Shares of the regional bank tumbled 36% Thursday, slightly paring back its losses after plunging over 50% at one point on reports that the company is the regional bank latest to explore
Continue ReadingWhat to expect from the jobs report
By Alicia Wallace, CNN If the latest employment trends continue and economists’ forecasts prove true, Friday’s jobs report could bring back that pre-pandemic feeling. Economists expect the US economy to have added 180,000 jobs in April, according to consensus estimates on Refinitiv. Excluding the losses during the first year of the pandemic, that would be
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