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By Paul R. La Monica, CNN Novavax, which makes the Nuvaxovid vaccine used to treat Covid-19, posted huge sales gains for the past three years during the height of the pandemic. But the company is now facing serious financial challenges — and has even warned it may not be able to survive. The Gaithersburg, Maryland-based
Continue ReadingBy Chris Isidore and Peter Valdes-Dapena, CNN General Motors is cutting an unspecified number of white-collar jobs globally, part of its announced efforts to slash costs to remain competitive in the shift to electric vehicles. “We are looking at all the ways of addressing efficiency and performance,” said Arden Hoffman, the company’s chief people officer,
Continue ReadingBy Jordan Valinsky, CNN Business As sales of canned cocktails and of tequila soar, High Noon is looking to capitalize on that combo. The top-selling adult beverage is introducing a tequila seltzer to its portfolio, marking the four-year-old brand’s first extension beyond its popular vodka lineup. High Noon Tequila Seltzer hits shelves Wednesday in the
Continue ReadingBy Jordan Valinsky, CNN Kentucky Fried Chicken is bringing back a legend after a nearly a decade. The “KFC Double Down” is coming back for a limited time, as of March 6. The instantly recognizable creation replaces the bread that’s found in a typical sandwich and uses two fried chicken filets as the bun. In
Continue ReadingBy Gregory Wallace, Pete Muntean and Jordan Valinsky, CNN Phil Washington, the White House’s pick to lead the Federal Aviation Administration, is going to face tough questions in his confirmation hearing about his ability to lead an agency facing the challenges the agency faces. Among those challenges: a series of close-call plane accidents in the
Continue ReadingBy Brian Fung, CNN Twitter has unveiled a new policy on violent speech that expands restrictions on some types of threats uttered on its platform, including new prohibitions on using coded language to incite violence indirectly as well as a ban on wishing harm on others and on making direct threats against physical infrastructure. “Healthy
Continue ReadingBy Nathaniel Meyersohn, CNN As consumers pulled back on their holiday spending amid biting inflation, it seems that Kohl’s dropped off many shoppers’ lists. Sales at Kohl’s stores open for at least one year dropped 6.6% during the holiday quarter, the company said Wednesday. The retailer also lost $302 million during the quarter. The losses
Continue ReadingBy Anna Cooban, CNN One of Europe’s biggest media groups has warned journalists that artificial intelligence (AI) could steal their jobs, and has provided tips for how reporters can avoid the chop. The chief executive of Axel Springer — which owns Insider, Politico and German tabloid newspaper Bild — told employees in a memo Tuesday
Continue ReadingCNN, CNN BUSINESS By Clare Duffy, CNN Twitter’s timeline page appeared to experience a prolonged outage on Wednesday morning, marking the latest service disruption for the platform under new owner Elon Musk. Some Twitter users who opened up their “for you” timeline were greeted with a blank screen and a message saying, “welcome to your
Continue ReadingBy Clare Duffy, CNN Twitter’s timeline page appeared to experience a prolonged outage on Wednesday morning, marking the latest service disruption for the platform under new owner Elon Musk. Some Twitter users who opened up their “for you” timeline were greeted with a blank screen and a message saying, “welcome to your timeline,” encouraging them
Continue ReadingBy Oliver Darcy, CNN Business The Fox Corporation board has a huge mess on its hands — and it needs to work quickly to clean it up. That’s according to Jeffrey A Sonnenfeld, the renowned professor and senior associate dean for leadership studies at the Yale School of Management. Sonnenfeld told CNN on Tuesday that
Continue ReadingCNN By Oliver Darcy, CNN Business Former House Speaker Paul Ryan was grilled last week over his decision to remain on the board of directors of Fox News’ parent company after damning court documents showed that the right-wing network knowingly peddled election lies to its audience. In the interview, conducted by conservative commentator Charlie Sykes
Continue ReadingBy Nicole Goodkind, CNN The next generation of traders has blown the doors off an elitist Wall Street ritual, with Goldman Sachs, Chevron and Tesla all holding glitzy and widely publicized “investor days” this week in place of an intimate conference with shareholders. While Tesla’s investor day on Wednesday marks the first such presentation for
Continue ReadingBy Hanna Ziady, CNN UK house prices last month saw their biggest annual decline since November 2012, in the latest sign of the lasting pain that the ill-fated “mini” budget conceived by former Prime Minister Liz Truss inflicted on Britain’s property market. The average price of a house fell 1.1% to £257,406 ($310,000) in February
Continue ReadingBy Catherine Thorbecke, CNN TikTok announced Wednesday that every user under 18 will soon have their accounts default to a one-hour daily screen time limit, in one of the most aggressive moves yet by a social media company to prevent teens from endlessly scrolling. Teenage TikTok users will be able to turn off this new
Continue ReadingBy Julia Horowitz, CNN Russian oil is still finding its way to buyers around the world. But even those who spend their days tracking its movement across oceans struggle to work out exactly who is ferrying it. As Western sanctions against Russia have escalated over its invasion of Ukraine, more ships have joined an existing
Continue ReadingCNN, POOL, HOST TV, ROSSIYA 1, KREMLIN, NSA, RUSSIAN MINISTRY OF DEFENSE, RADIO FREE EUROPE, RADIO LIBERTY By Julia Horowitz, CNN Russian oil is still finding its way to buyers around the world. But even those who spend their days tracking its movement across oceans struggle to work out exactly who is ferrying it. As
Continue ReadingBy Laura He, CNN The team of Communist Party officials running China’s economy is about to get a major makeover. Party elites have just finalized nominations for key government positions ahead of the annual gathering of the National People’s Congress, the country’s rubber-stamp legislature, which starts on Sunday. They include the four men tapped to
Continue ReadingBy Heather Chen, CNN Nestlé has announced that it will close its sole factory and head office in Yangon, Myanmar’s largest city, as it switches to a more “sustainable” business model amid ongoing turmoil in the country. Myanmar has been rocked by violence and instability since 2021 when a military coup ousted democratically elected leader
Continue ReadingBy Rhea Mogul, CNN India imposed the highest number of internet shutdowns globally in 2022, a new report has revealed, in what critics say is yet another blow to the country’s commitment to freedom of speech and access to information. Of 187 internet shutdowns recorded worldwide, 84 took place in India, according to the report
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