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By Chris Isidore, CNN Union Pacific, one of the major freight railroads that successfully fought off union demands for paid sick days for workers during contentious labor negotiations in 2022, reported another year of record earnings Tuesday. The company, along with CSX, Norfolk Southern and Burlington Northern Sante Fe, narrowly avoided a strike by its
Continue ReadingBy Oliver Darcy, CNN Justin Bieber has sold the rights to his publishing and artist royalties from his song catalog, adding himself to a growing list of pop stars who have inked rights deals. Bieber sold his catalog to Hipgnosis, the music rights investment company announced Tuesday. “Justin is truly a once in a generation
Continue ReadingBy Brian Fung, CNN The Justice Department and eight states sued Google on Tuesday, accusing the company of harming competition with its dominance in the online advertising market and calling for it to be broken up. The move marks the Biden administration’s first blockbuster antitrust case against a Big Tech company. The eight states joining
Continue ReadingBy Matt McFarland, CNN Business Tesla CEO Elon Musk returned to the witness stand for a third day in a California court room Tuesday, as he testified in a class-action lawsuit over his controversial “funding secured” tweet from 2018. It will likely be Musk’s final day of testimony. Musk, Tesla and company directors are facing
Continue ReadingCNN By Matt McFarland, CNN Business Tesla CEO Elon Musk returned to the witness stand for a third day in a California court room Tuesday, as he testified in a class-action lawsuit over his controversial “funding secured” tweet from 2018. It will likely be Musk’s final day of testimony. Musk, Tesla and company directors are
Continue ReadingBy Nathaniel Meyersohn, CNN Business Walmart, America’s largest private employer, said Tuesday that it will raise its minimum wage from $12 to $14 an hour as it tries to retain store and warehouse workers in a tight labor market for lower-wage industries. Walmart has 1.7 million workers in the United States, 94% of whom are
Continue ReadingBy Oliver Darcy, CNN Business The Washington Post on Tuesday became the latest media company to conduct layoffs, cutting 20 roles in a move that publisher Fred Ryan had indicated last month the newspaper would take in early 2023. Sally Buzbee, executive editor of The Post, described the decision to cut the jobs as “difficult”
Continue ReadingBy Nicole Goodkind, CNN The New York Stock Exchange experienced a technical issue Tuesday morning that led to a brief trading halt for dozens of major companies just after the market opened. As a result of the issue, some trades that occurred before the halt will be made “null and void,” according to an exchange
Continue ReadingBy Danielle Wiener-Bronner, CNN In the past, Oreo has partnered with Lady Gaga, Pokémon and Ritz on new limited-time flavors. Now, it’s working with … itself. And Martha Stewart. The cookie brand’s latest limited-edition cookie is an Oreo stuffed with Oreos. Dubbed “the Most OREO OREO,” the cookie is made with the usual chocolate wafers,
Continue ReadingBy Nathaniel Meyersohn, CNN Amazon is expanding its push into healthcare with a $5 monthly unlimited delivery pass on 60 common generic prescription drugs treating allergies, inflammation, high blood pressure and other conditions. Amazon announced the new delivery service, RXPass, on Tuesday and it will launch immediately in most states except California, Texas, Minnesota and
Continue ReadingBy Chris Isidore, CNN Business America’s largest banks announced plans Tuesday for an electronic wallet that will take aim at Apple Pay and PayPal. The banks are working with Early Warning Services, the company that runs their Zelle electronic payment service. The new electronic wallet, which will operate separately from Zelle, would allow people to
Continue ReadingBy Hanna Ziady, CNN Business activity across the 20 countries that use the euro expanded in January for the first time in six months, according to data published Tuesday, providing fresh evidence that Europe’s economy could confound expectations and dodge a recession this year. An initial reading of the eurozone’s Purchasing Managers’ Index, which tracks
Continue ReadingBy Nicole Goodkind, CNN Big Tech earnings are here, and investors are hoping they don’t wreck the good vibes on Wall Street. Markets are coming off of one of their worst years in history, but have been positive in the first few weeks of 2023. Three giant tech earnings reports this week — Microsoft, Tesla
Continue ReadingBy Parija Kavilanz and Samantha Murphy Kelly, CNN Lawmakers grilled a top executive from Ticketmaster’s parent company after the service’s inability to process orders for Taylor Swift’s upcoming tour left millions of fans unable to buy tickets or without their ticket even after purchase. Joe Berchtold, the president and CFO of Ticketmaster parent company Live
Continue ReadingBy Michelle Toh and CNN’s Beijing bureau Millions of players in China have lost access to the iconic “World of Warcraft” franchise and other popular video games, as Blizzard Entertainment’s servers in the country went offline after two decades. The company’s services in China were suspended at midnight local time on Tuesday, marking the end
Continue ReadingBy Allison Morrow, CNN Reporters often joke that journalists are going to the “dark side” when they go into PR. After reading about Geoff Morrell, a hero I didn’t know I needed, I understand the temptation. Here’s the deal: A regulatory filing from Disney last week, first reported by the Wall Street Journal, has put
Continue ReadingCNN, CNN BUSINESS By Allison Morrow, CNN Reporters often joke that journalists are going to the “dark side” when they go into PR. After reading about Geoff Morrell, a hero I didn’t know I needed, I understand the temptation. Here’s the deal: A regulatory filing from Disney last week, first reported by the Wall Street
Continue ReadingBy Lauren Kent and Amy Cassidy, CNN The Crown Estate, a British commercial property portfolio historically belonging to the monarch, began court proceedings against Twitter over the tech giant’s alleged non-payment of rent in its London offices, a spokesperson of the property business told CNN on Monday. The Crown Estate is run by an independent
Continue ReadingBy Ramishah Maruf, CNN Citing “rising crime and vagrancy,” Chase Bank has shuttered 24-hour access to some of its New York ATMs. Select ATM vestibules are closing at 5 pm or 6 pm, aligning more closely with normal branch hours, the bank tweeted in response to a complaint last week. A JPMorgan Chase spokesperson said
Continue ReadingBy Chris Isidore, CNN Few top executives have ever failed in a job so quickly — or so lucratively — as Geoff Morrell. He became Disney’s chief corporate affairs officer January 24, 2022, and the company promptly announced Morrell’s departure in late April. Morrell made about $150,000 a day for that quick stint in charge
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