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By Alicia Wallace, CNN The US economy expanded again during the fourth quarter, registering solid growth to end 2022 even as consumers and businesses battled historically high inflation and rising interest rates. Gross domestic product — the broadest measure of economic activity — increased at an annualized rate of 2.9% from October to December last
Continue ReadingBy Nicole Goodkind, CNN Wall Street analysts are holding their breath and crossing their fingers this morning as they await gross domestic product numbers for the final quarter of 2022. Traders have recently been celebrating dismal economic news in the hopes that it will prompt the Federal Reserve to pivot away from rate hikes and
Continue ReadingCNN, CNN BUSINESS By Alicia Wallace, CNN A week that has been chock-full of economic data will be capped off Friday morning with the first US jobs report of 2023. Economists estimate that 185,000 positions were likely added in January, according to Refinitiv. That would be a considerable drop from the 504,000 jobs added in
Continue ReadingBy Chris Isidore, CNN Southwest Airlines reported a loss for the fourth quarter because of the company’s service meltdown over the holiday travel season, and it warned the costs from those problems will result in another loss in the first quarter. The airline was forced to cancel more than 16,700 flights between December 21 and
Continue ReadingBy Chris Isidore, CNN If airlines are to avoid repeats of recent service problems, they’ll need to have a lot more back-up in place, according to United CEO Scott Kirby. “You can’t run an airline like it’s 2019, and the reason is because the system is just stressed to the max,” Kirby told CNN’s Christine
Continue ReadingBy Michelle Toh, CNN Toyota’s longtime president and CEO Akio Toyoda is stepping down and handing over the reins of the world’s largest automaker to Lexus chief Koji Sato. The Japanese company announced the shakeup Thursday, saying that Toyoda would be appointed chairman of the board as Sato takes over daily management. Takeshi Uchiyamada, Toyota’s
Continue ReadingBy Michelle Toh and Hanna Ziady, CNN IBM and SAP are the latest tech companies to slash thousands of jobs, as they reorganize businesses and profits come under pressure from a slowing global economy. IBM announced the cuts Wednesday, saying they were related to the previously announced spinoff and sale of two business units. Some
Continue ReadingBy Allison Morrow, CNN This week, Microsoft confirmed it’s planning to invest billions in OpenAI, the company behind the viral new chatbot tool ChatGPT. The prospect of Microsoft, maker of software that people mostly hate, getting involved with ChatGPT, a product people generally like, is raising a lot of eyebrows. Almost immediately, people began joking
Continue ReadingCNN By Allison Morrow, CNN This week, Microsoft confirmed it’s planning to invest billions in OpenAI, the company behind the viral new chatbot tool ChatGPT. The prospect of Microsoft, maker of software that people mostly hate, getting involved with ChatGPT, a product people generally like, is raising a lot of eyebrows. Almost immediately, people began
Continue ReadingBy Pete Muntean and Greg Wallace, CNN The US Transportation Department said it is in the early stages of an investigation into the Southwest Airlines holiday travel meltdown in December. The probe includes an examination of whether Southwest is scheduling more flights than it can handle. “DOT is in the initial phase of a rigorous
Continue ReadingBy Hanna Ziady, CNN UK car manufacturing hit a 66-year low in 2022, as the closure of two plants, a global shortage of semiconductors and the effect of Covid lockdowns in China on auto supply chains crippled output. Figures published Thursday by the Society of Motor Manufacturers and Traders (SMMT), an industry body, showed that
Continue ReadingCNN By Donie O’Sullivan, CNN Donald Trump’s Facebook and Instagram accounts were restored on Thursday, allowing the former president to once again post on the social media platforms, a Meta spokesperson confirmed to CNN. As of Thursday afternoon, Trump had not yet resumed posting on the accounts. Trump’s reinstatement comes weeks after Facebook’s landmark announcement
Continue ReadingBy Clare Duffy, CNN Facebook-parent Meta said on Wednesday that it will restore former President Donald Trump’s accounts on Facebook and Instagram in the coming weeks, just over two years after suspending him in the wake of the January 6 Capitol attack. “Our determination is that the risk [to public safety] has sufficiently receded,” Meta
Continue ReadingBy Catherine Thorbecke, CNN News outlet CNET said Wednesday it has issued corrections on a number of articles, including some that it described as “substantial,” after using an artificial intelligence-powered tool to help write dozens of stories. The outlet has since hit pause on using the AI tool to generate stories, CNET’s editor-in-chief Connie Guglielmo
Continue ReadingCNN, TWITTER, CHATGPT By Samantha Murphy Kelly, CNN Business ChatGPT is smart enough to pass prestigious graduate-level exams — though not with particularly high marks. The powerful new AI chatbot tool recently passed law exams in four courses at the University of Minnesota and another exam at University of Pennsylvania’s Wharton School of Business, according
Continue ReadingBy Anna Bahney, CNN In response to rent payments soaring across the country in recent years, the Biden administration unveiled new actions Wednesday to protect tenants, make renting more affordable and improve fairness in the rental housing market. Multiple agencies are expected to take part in improving conditions for renters, taking actions in tandem with
Continue ReadingBy Chris Isidore, CNN Tesla reported record profits for the fourth quarter and the full year, but its profit margins were tighter due to higher costs, recent price cuts, and sales in the quarter that were weaker than hoped. The leading electric vehicle maker posted adjusted earnings of $1.19 per share in the quarter, up
Continue ReadingBy Nathaniel Meyersohn, CNN California voters will decide next year on a referendum that could overturn a landmark new state law setting worker conditions and minimum wages up to $22 an hour for fast-food employees in the nation’s largest state. Chipotle, Starbucks, Chick-fil-A, McDonald’s, In-N-Out Burger and KFC-owner Yum! Brands each donated $1 million to
Continue ReadingBy Scottie Andrew, CNN James Bond fans may be waiting on the next actor who will play the British spy onscreen, but a beloved Bond adventure of yore is making its return. “GoldenEye 007,” a classic first-person shooter made for Nintendo 64 in 1997, is being revived for Nintendo Switch and Xbox more than 25
Continue ReadingBy Oliver Darcy, CNN The New York Times and NPR asked a judge on Wednesday to unseal a trove of documents in Dominion Voting Systems $1.6 billion defamation lawsuit against right-wing channel Fox News. “This lawsuit is unquestionably a consequential defamation case that tests the scope of the First Amendment,” the pair of news organizations
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