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By Allison Morrow, CNN Netflix is officially winding down the business that helped make it a household name. This fall, the streaming giant will officially say goodbye to its DVD rental service and all of the red envelopes that made it possible. “On September 29th, 2023, we will send out the last red envelope,” the
Continue ReadingCNN, CNN BUSINESS By 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
Continue ReadingBy Christine Romans, CNN Chief Business Correspondent The post-pandemic US economy has tortured economists and defied expectations. It’s anybody’s guess what happens next. In the optimist camp is Treasury Secretary Janet Yellen, who told CNN’s Fareed Zakaria last week a damaging recession can be averted. “I think what people call a soft landing is possible,”
Continue ReadingCNN By Jennifer Korn Geoffrey Hinton, who has been called the ‘Godfather of AI,’ confirmed Monday that he left his role at Google last week to speak out about the “dangers” of the technology he helped to develop. Hinton’s pioneering work on neural networks shaped artificial intelligence systems powering many of today’s products. He worked
Continue ReadingBy Brian Fung, CNN Artificial intelligence tools such as ChatGPT could lead to a “turbocharging” of consumer harms including fraud and scams, and the US government has substantial authority to crack down on AI-driven consumer harms under existing law, members of the Federal Trade Commission said Tuesday. Addressing House lawmakers, FTC chair Lina Khan said
Continue ReadingBy Peter Valdes-Dapena, CNN Business Lincoln unveiled a redesigned version of its Nautilus SUV, which it says will have the largest display screen of any competitor and a selection of built-in scents to create a more relaxing atmosphere. But perhaps the most notable change is where the car will be manufactured: The new model will
Continue ReadingBy Allison Morrow, CNN One boss is learning the hard way how a pep talk can quickly go off the rails. Andi Owen, CEO of office furniture company MillerKnoll, was asked in a recent video town hall about how workers should stay motivated if they don’t get a bonus. A clip of the video began
Continue ReadingBy Hanna Ziady, CNN HSBC’s biggest shareholder has called on the bank to create a separately listed Asian business headquartered in Hong Kong to fix what it sees as a lack of competitiveness. In a strongly worded statement Tuesday, the CEO of Ping An Asset Management said that despite improvements, the insurer remained “deeply concerned”
Continue ReadingBy Anna Cooban, CNN More companies around the world defaulted on their debts in the first three months of this year than in any quarter since late 2020, when businesses were still hamstrung by restrictions to stop the spread of Covid. In a report Tuesday, credit rating agency Moody’s said 33 of the corporations it
Continue ReadingBy Jeanne Sahadi, CNN It’s April 18, the official deadline to file your federal and state income tax returns for 2022. (It is also, apparently, National Animal Crackers Day for those who celebrate.) Whether you have already filed your tax return or still need to, the good news is this tax filing season has gone
Continue ReadingBy Anna Bahney, CNN US home building pulled back in March, falling 0.8% in March from February as a decline in multifamily home construction failed to balance out an increase in single-family homes. Housing starts, a measure of new home construction, was down 17.2% from a year ago, according to data released Thursday by the
Continue ReadingCNN By Vanessa Yurkevich, CNN Universal Music Group — the music company representing superstars including Sting, The Weeknd, Nicki Minaj and Ariana Grande — has a new Goliath to contend with: artificial intelligence. The music group sent urgent letters in April to streaming platforms, including Spotify and Apple Music, asking them to block artificial intelligence
Continue ReadingBy Vanessa Yurkevich, CNN Universal Music Group — the music company representing superstars including Sting, The Weeknd, Nicki Minaj and Ariana Grande — has a new Goliath to contend with: artificial intelligence. The music group sent urgent letters in April to streaming platforms, including Spotify and Apple Music, asking them to block artificial intelligence platforms
Continue ReadingCNN By Nicole Goodkind, CNN Apple and Goldman Sachs launched a new high-yield savings account on Monday that offers a 4.15% interest rate, more than 10 times higher than the US national average. The move is one of many that Apple has made in recent months to increase its financial services footprint — adding some
Continue ReadingBy Nicole Goodkind, CNN Apple and Goldman Sachs launched a new high-yield savings account on Monday that offers a 4.15% interest rate, more than 10 times higher than the US national average. The move is one of many that Apple has made in recent months to increase its financial services footprint — adding some lofty
Continue ReadingBy Oliver Darcy and Marshall Cohen, CNN The high-stakes showdown between Dominion Voting Systems and Fox News finally commences in earnest Tuesday when the $1.6 billion defamation trial begins, shining a spotlight on Fox’s election denialism and the toxic role of its disinformation on American politics. The trial, initially set to begin with opening statements
Continue ReadingCNN By Oliver Darcy and Marshall Cohen, CNN The high-stakes showdown between Dominion Voting Systems and Fox News finally commences in earnest Tuesday when the $1.6 billion defamation trial begins, shining a spotlight on Fox’s election denialism and the toxic role of its disinformation on American politics. The trial, initially set to begin with opening
Continue ReadingBy Michelle Toh, CNN Apple’s CEO Tim Cook is in India this week to open its first physical stores in the country, marking a milestone for the iPhone maker in the world’s second largest smartphone market. Cook was seen personally welcoming customers as employees cheered and clapped at the company’s new outlet in Mumbai, which
Continue ReadingBy Clare Duffy, CNN YouTube on Tuesday announced a series of changes to how it deals with content related to eating disorders. The platform has long removed content that glorifies or promotes eating disorders, and YouTube’s Community Guidelines will now also prohibit content that features behaviors such as purging after eating or extreme calorie counting
Continue ReadingBy Laura He, CNN China’s economy got off to a solid start in 2023, as consumers went on a spending spree after three years of strict pandemic restrictions ended. Gross domestic product grew by 4.5% in the first quarter from a year ago, according to the National Bureau of Statistics on Tuesday. That beat the
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