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By Jeanne Sahadi, CNN The US Supreme Court decided this week to hear a case that will consider the constitutionality of funding for the Consumer Financial Protection Bureau and, in doing so, test the constraints of US regulators’ power. The case would be heard in the fall, with a decision likely by summer 2024. But
Continue ReadingBy Catherine Thorbecke, CNN Meta is cutting prices for two of its virtual reality headsets as it continues trying to boost adoption for the nascent technology on which it has bet its future. The company announced Friday that it is slashing the price of its higher-end Meta Quest Pro headset by some $500, bringing its
Continue ReadingBy Peter Valdes-Dapena, CNN Ford has some interesting ideas on what self-driving cars might soon be able to do. Besides freeing us from the tedium of commuting, the company envisions cars that could repossess themselves. According to a document recently published on the United States Patent and Trademark Office website, Ford said it is considering
Continue ReadingBy Danielle Wiener-Bronner, CNN Business The Raspberry Rally Girl Scouts cookie, a raspberry-flavored version of the beloved Thin Mint, was always supposed to be a limited edition item. Just not this limited. The new Girl Scouts cookie sold out in hours. Now, people desperate to try it can search eBay. The Girl Scouts would really
Continue ReadingBy Catherine Thorbecke, CNN Amazon is pausing construction on its second headquarters in northern Virginia, the company confirmed in a statement to CNN on Friday. John Schoettler, Amazon’s real estate chief, said the company is pushing back the groundbreaking of the second phase of the sprawling new headquarters. The first phase is still under construction
Continue ReadingBy Clare Duffy, CNN Facebook-parent Meta on Friday announced a revamp of its “cross-check” moderation system after facing criticism for giving VIPs special treatment by applying different review processes for VIP posts versus those from regular users. But Meta stopped short of adopting all the recommended changes that had previously been put forward by its
Continue ReadingBy Olesya Dmitracova, CNN Russia could find itself with no money as soon as next year and needs foreign investment, outspoken Russian oligarch Oleg Deripaska has said. “There will be no money already next year, we need foreign investors,” he said at an economic conference in Siberia Thursday, according to comments reported by TASS, a
Continue ReadingBy Michelle Toh and Richard Quest, CNN The billionaire mastermind behind some of the world’s biggest K-pop stars is pushing back on accusations that he’s trying to monopolize the Korean music industry, just days before a major potential deal is expected. Bang Si-Hyuk, chairman of HYBE, the management agency behind bands including BTS and NewJeans,
Continue ReadingCNN By Michelle Toh and Gawon Bae, CNN Kakao, one of South Korea’s top internet giants, has doubled down on its quest to take control of SM Entertainment, the iconic K-pop music agency. The tech firm announced Tuesday that it would seek to buy up to 35% of the music label, just days after a
Continue ReadingBy Samantha Murphy Kelly, CNN Business When Scott Rogowsky auditioned to be the host of an unreleased online quiz show called HQ Trivia back in 2017, after a decade of grinding gigs in the New York City comedy scene, he didn’t think it’d be his ticket to instant fame. Not long after landing the job,
Continue ReadingCNN By Samantha Murphy Kelly, CNN Business When Scott Rogowsky auditioned to be the host of an unreleased online quiz show called HQ Trivia back in 2017, after a decade of grinding gigs in the New York City comedy scene, he didn’t think it’d be his ticket to instant fame. Not long after landing the
Continue ReadingCNN By Samantha Murphy Kelly, CNN Business When Scott Rogowsky auditioned to be the host of an unreleased online quiz show called HQ Trivia back in 2017, after a decade of grinding gigs in the New York City comedy scene, he didn’t think it’d be his ticket to instant fame. Not long after landing the
Continue ReadingCNN By Samantha Murphy Kelly, CNN Business When Scott Rogowsky auditioned to be the host of an unreleased online quiz show called HQ Trivia back in 2017, after a decade of grinding gigs in the New York City comedy scene, he didn’t think it’d be his ticket to instant fame. Not long after landing the
Continue ReadingBy Anna Cooban, CNN Shares in some of Indian billionaire Gautam Adani’s companies soared Friday after a US private equity firm agreed to invest nearly $1.9 billion in his embattled conglomerate. The Adani Group said Thursday that GQG Partners had bought $1.87 billion of stock in secondary market trades across four of its companies. Shares
Continue ReadingBy Chris Isidore, CNN Norfolk Southern CEO Alan Shaw sold $448,000 worth of the company’s stock this week, a month after the toxic train derailment in East Palestine, Ohio, that is still being cleaned up. Shaw’s stock sale came the same week the company announced Shaw had personally set up a $445,000 scholarship endowment fund
Continue ReadingBy Nimi Princewill and Stephanie Busari, CNN Nigeria’s botched attempt to replace its banknotes has been declared invalid by the country’s Supreme Court. In a ruling Friday, the country’s highest court said a presidential directive to discontinue the use of old naira notes following a redesign was illegal. The court said the old banknotes should
Continue ReadingBy Nicole Goodkind, CNN About 99% of all S&P 500 companies have reported their fourth quarter earnings and the results, particularly for tech companies, are underwhelming. Companies listed in the S&P 500 index beat analysts’ earnings estimates by an average of just 1.3% last quarter. For context, that’s way down on the index’s 5-year average
Continue ReadingBy Paul R. La Monica, CNN There have been a LOT of changes on Wall Street since I first joined CNN in November 2001. The Dow was trading just below 10,000 at the time. It’s now a little above 33,000. And some of the companies that were still among that blue chip average are no
Continue ReadingBy Philip Wang and Kathleen Magramo, CNN The United States on Thursday added two subsidiaries of Chinese genetics company BGI to a trade blacklist over allegations it conducted genetic analysis and surveillance activities for Beijing, which Washington says was used to repress ethnic minorities in China. The US Department of Commerce, which oversees export controls,
Continue ReadingBy Peter Valdes-Dapena, CNN Business Following an issue with a battery fire during testing, Ford will restart production of its popular F-150 Lightning electric pickup on Monday, March 13, the company announced Thursday. By then, the truck will have been out of production for about a month. During pre-delivery inspections, one of the trucks caught
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