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By Anna Bahney, CNN US home sales fell in March, after a turnaround in February that followed a full year of declining home sales due to surging mortgage rates, according to a National Association of Realtors report released Thursday. Sales of existing homes in March — which include single-family homes, townhomes, condominiums and co-ops —
Continue ReadingBy Anna Cooban, CNN Ikea is planning to splash €2 billion ($2.19 billion) to expand its furniture empire in the United States in what will be the retailer’s biggest-ever investment in a single country. Ingka Group, Ikea Retail’s Dutch holding company, said in a statement Thursday that it hoped to open eight large stores and
Continue ReadingBy Brian Fung, CNN Late last year, Facebook-parent Meta quietly phased out certain content labels on its platforms that for much of the pandemic had directed viewers to its central Covid-19 information page, after internal research concluded the labels may be ineffective at changing attitudes or stopping the spread of misinformation, according to a report
Continue ReadingCNN, CNN BUSINESS By Jordan Valinsky, CNN Business Tuesday Morning is going out of business and closing all of its stores. It is the second major US home goods retailer to go bust in recent days. The retailer announced on Facebook and its website that it has started a going-out-of-business sale with 30% off discounts
Continue ReadingBy Danielle Wiener-Bronner, CNN Several Anheuser-Busch facilities received threats last week, a company spokesperson confirmed, following weeks of backlash against Bud Light because it sponsored two Instagram posts from a transgender woman. “The safety of our employees is always our top priority,” the company spokesperson said in a statement to CNN. “We worked quickly with
Continue ReadingBy Nicole Goodkind, CNN Banks have pledged to go green, but last year they poured billions of dollars into expanding the capacity of fossil fuel production despite the accelerating climate crisis. Banks provided $673 billion to finance the fossil fuel industry last year, even as oil and gas companies made $4 trillion in profits, according
Continue ReadingBy Nathaniel Meyersohn, CNN In early February, Diane Zaccagna learned that the Bed Bath & Beyond store in New Jersey where she had been working for 18 and a half years was closing and she would be laid off. “We knew Bed Bath was in trouble, but we thought we would have at least a
Continue ReadingCNN By Jennifer Korn, CNN Fox News’ legal battle with Dominion Voting Systems is over. It now has to deal with Smartmatic, which is seeking billions of dollars more than its rival wanted in damages. The voting technology company filed a lawsuit against Fox in New York state courts for defamation following the 2020 election,
Continue ReadingBy Jennifer Korn, CNN Fox News’ legal battle with Dominion Voting Systems is over. It now has to deal with Smartmatic, which is seeking billions of dollars more than its rival wanted in damages. The voting technology company filed a lawsuit against Fox in New York state courts for defamation following the 2020 election, and
Continue ReadingBy Manveena Suri and Michelle Toh, CNN Apple CEO Tim Cook met with Indian Prime Minister Narendra Modi on Wednesday, pledging to invest further in the fast-growing economy as his company ramps up retail and manufacturing activities. The visit underscores how the world’s most valuable company is continuing to pivot to India, eyeing its potential
Continue ReadingBy Laura He, CNN Shares in Tesla’s Chinese rivals fell on Thursday, after CEO Elon Musk signaled that the company will continue cutting prices to boost demand for electric cars in an increasingly competitive market. XPeng plunged 8% in Hong Kong, while Nio sank 5.6%. Li Auto and Leapmotor tumbled 4.2% and 2.4% respectively. BYD,
Continue ReadingBy Samantha Kelly, CNN Snapchat is about to give new meaning to the “chat” part of its name. Snap, the company behind Snapchat, announced on Wednesday that its customizable My AI chatbot, is now accessible to all users within the app. The feature, which is powered by the viral AI chatbot ChatGPT, was previously only
Continue ReadingBy Peter Valdes-Dapena, CNN Polestar, the electric vehicle brand spun off from Volvo, just unveiled a new SUV that will be for sale in the United States next year. It finally does away with something that’s become increasingly pointless in new vehicles, anyway: The back window. The Polestar 4 is a “coupe-shaped” SUV, with a
Continue ReadingBy Chris Isidore, CNN Tesla helped kick off an EV price war. Now, those lower prices are hitting the company’s sales and profits. Tesla, which has cut prices on its electric vehicles four times in the quarter and twice so far this month, earned $2.9 billion excluding special items, down 22% from a year ago.
Continue ReadingBy Chris Isidore, CNN More than half of gas stations in the Miami-Fort Lauderdale area were without gasoline Wednesday after flooding from last week’s massive storm caused a wave of panic buying by drivers topping off their gas tanks. “I would estimate that 80% of [station closings] are due to panic buying,” said Patrick De
Continue ReadingBy Bryan Mena, CNN Businesses across the country said banks have tightened their lending standards since last month’s banking crisis, according to an economic survey from the Federal Reserve released Wednesday. Overall economic activity held steady in recent weeks, with nine of the central bank’s 12 regional districts reporting no change, or slight growth; and
Continue ReadingBy Clare Duffy, CNN Facebook parent Meta on Wednesday began its latest round of layoffs focusing on technical workers, who are often thought of as more immune to job cuts in Silicon Valley. Meta spokesperson Nkechi Nneji confirmed to CNN that some previously announced layoffs were taking place Wednesday, and pointed to CEO Mark Zuckerberg’s
Continue ReadingCNN By Marshall Cohen and Oliver Darcy, CNN Veteran mediator Jerry Roscoe was on a relaxing river cruise from Budapest to Bucharest celebrating his 70th birthday on Sunday when he received an urgent phone call. The voice on the other end asked Roscoe if he would serve as an eleventh-hour mediator in the massive defamation
Continue ReadingBy Danielle Wiener-Bronner, CNN McDonald’s announced changes to its signature burgers earlier this week, including adding more Big Mac sauce. Now, it’s giving fans a way to get even more sauce. Starting next week, for a limited time, customers who order through the app will be able to get Big Mac sauce in a dip
Continue ReadingBy Peter Valdes-Dapena, CNN Maserati did something very strange in 2020. The brand unveiled a high-powered supercar with a new, radically designed, V6 gasoline engine. Versions of the new engine would be used in other Maserati models, too, executives said. That’s strange mostly because Maserati had already announced plans to go fully electric by 2030.
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