Skip to Content
CNN, CNN BUSINESS By Chris Isidore, CNN Business Elon Musk sold $3.95 billion worth of Tesla stock since completing his purchase of Twitter late last month. Musk’s Tesla stock sales, totaling 19.5 million shares, have been widely anticipated ever since the Tesla CEO reached a deal to buy Twitter for $44 billion. Musk had sold
Continue Readingby Brian Fung, CNN Twitter on Saturday launched an updated version of its iOS app that promises to allow users to pay a monthly subscription to receive a blue checkmark on their profiles, a feature that Elon Musk, the company’s new owner, has proposed as a way to fight spam on the platform. The app’s
Continue ReadingBy Chris Isidore, CNN Business One of the reasons for the record $1.9 billion jackpot for the Powerball drawing Monday night is something you wouldn’t expect — the recent run of steep interest rate hikes from the Federal Reserve. That’s because the size of the advertised $1.9 billion top prize is the amount winners would
Continue ReadingBy Nathaniel Meyersohn, CNN Business Chances are, you’ve been there: You head to Trader Joe’s to buy caramel popcorn, churro bites and roasted gorgonzola crackers, or to Costco for its Kirkland Signature mini peanut butter cups and take-and-bake pizza. But when you get to the store, your favorite treats aren’t on the shelf. And, to
Continue ReadingBy Oliver Darcy, CNN Business NBC News on Friday pulled a report about the attack on Paul Pelosi that the network said did not meet its standards. “The piece should not have aired because it did not meet NBC News reporting standards,” an editor’s note said in place of the story online after it aired
Continue ReadingCNN By Rachel Metz, CNN Business In the week since Elon Musk took over Twitter, the number of people signing up for a small social network called Mastodon has surged. You may not have heard of Mastodon, which has been around since 2016, but now it’s growing rapidly. Some are fleeing Twitter for it or
Continue ReadingBy Rachel Metz, CNN Business In the week since Elon Musk took over Twitter, the number of people signing up for a small social network called Mastodon has surged. You may not have heard of Mastodon, which has been around since 2016, but now it’s growing rapidly. Some are fleeing Twitter for it or at
Continue ReadingBy Jill Martin and Aya Elamroussi, CNN Nike is suspending its relationship with Brooklyn Nets point guard Kyrie Irving, the company said in an emailed statement to CNN Friday. “At Nike, we believe there is no place for hate speech and we condemn any form of antisemitism,” the statement says. “To that end, we’ve made
Continue ReadingCNN, CNN BUSINESS By Donie O’Sullivan and Clare Duffy, CNN Business Twitter’s new owner Elon Musk has given employees until Thursday evening to commit to “extremely hardcore” work or else leave the company, according to a copy of a late-night internal email sent by the billionaire and obtained by CNN. “Going forward, to build a
Continue ReadingCNN By Donie O’Sullivan and Clare Duffy, CNN Twitter on Friday laid off employees in departments across the company, in a severe round of cost cutting that could potentially upend how one of the world’s most influential platforms operates one week after it was acquired by billionaire Elon Musk. Numerous Twitter employees began posting on
Continue ReadingCNN, CNN BUSINESS By Chris Isidore and Vanessa Yurkevich, CNN Business The threat of a freight railroad strike has been pushed back to early December, as four major unions have agreed to coordinate the date on which they could potentially go on strike. The third-largest railroad union, the Brotherhood of Maintenance of Way Employe Division,
Continue ReadingBy Chris Isidore, CNN Business Labor Secretary Marty Walsh says he hopes negotiators between railroads and some rail unions can reach new labor deals and avert a possible strike. But he said without a deal he expects Congress will step in and impose contracts on the unhappy rank-and-file union members. The statement is a blow
Continue ReadingBy Jackie Wattles, CNN Business Rocket Lab, a start-up building small orbital rockets, kicked off another successful mission on Friday — but it failed in its efforts to recapture its rocket booster as it tumbled down toward Earth. The company deployed a helicopter with a hook attachment, but it wasn’t able to catch the booster.
Continue ReadingBy Melissa Alonso, CNN Okabashi, an Adidas manufacturing partner and family-owned footwear company in Buford, Georgia, has laid off 142 employees as a result of Adidas ending its partnership with Ye, formerly known as Kanye West. “As of right now there are not enough orders to keep all employees busy with work. Very regrettably, Okabashi
Continue ReadingBy Julia Horowitz, CNN Business Adidas could snap up the boss of crosstown rival Puma to succeed outgoing CEO Kasper Rorsted. The sportswear company said Friday that it’s in talks with Puma CEO Bjørn Gulden to step in as successor to Rorsted, who is due to depart some time in 2023. Gulden, meanwhile, is set
Continue ReadingCNN By Chris Isidore, CNN Business The white-hot US labor market is showing signs of cooling, with the Labor Department reporting Friday a slower pace of hiring and higher unemployment. While the closely watched October jobs report was strong by historical standards, it suggests a series of rate hikes by the Federal Reserve meant to
Continue ReadingCNN, CNNBUSINESS By Jeanne Sahadi, CNN Business It’s not unusual for two people with the same title to be paid somewhat different salaries. Pay, after all, is based on many factors, including a person’s experience and performance, the market rate for the position when they were hired and their negotiation skills. But it’s hard to
Continue ReadingBy Julia Horowitz, CNN Business Global investors have two big questions on their minds: When will the Federal Reserve become less aggressive in its campaign against inflation? And does Beijing plan to ease its strict “zero-Covid” policy any time soon? Markets were disappointed this week when the Fed indicated it could push interest rates even
Continue ReadingBy Clare Duffy and Catherine Thorbecke, CNN Elon Musk said Friday that Twitter has seen a “massive drop in revenue,” as a growing number of advertisers pause spending on the platform in the wake of his $44 billion acquisition. “Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though
Continue ReadingBy Nicole Goodkind, CNN Business What will the Federal Reserve do at its meeting in December? Analysts can speculate all they want, but Fed officials say they will be using hard economic data to make their next decision. That means key housing, labor, and inflation reports will likely have outsized effects on the market as
Continue Reading