Skip to Content
By Brian Stelter, CNN Business As Netflix licks its wounds and investors worry about big streaming bets, David Zaslav is positioning Warner Bros. Discovery as a “far more balanced” company. “We have the ability to ring any number of cash registers,” Zaslav, the longtime Discovery CEO who took control of WarnerMedia earlier this month, told
Continue ReadingBy Paul R. La Monica, CNN Business Even the world’s richest person needs financial advice. That’s great news for Morgan Stanley, the investment bank of choice for Elon Musk. Morgan Stanley advised the Tesla CEO on his $44 billion acquisition of Twitter. The bank also helped secure $25.5 billion in funding for the deal, including
Continue ReadingBy Michelle Toh, CNN Business Indonesia will start restricting exports of palm oil this week, a move that could make the global food crisis worse and push up the prices of hundreds of consumer products. President Joko Widodo announced Friday that Indonesia would suspend exports of cooking oil, and the raw materials used to make
Continue ReadingCNN By Michelle Toh, CNN Business Indonesia will start restricting exports of palm oil this week, a move that could make the global food crisis worse and push up the prices of hundreds of consumer products. President Joko Widodo announced Friday that Indonesia would suspend exports of cooking oil, and the raw materials used to
Continue ReadingBy Anna Bahney, CNN Business US home prices continued to surge higher in February. Prices rose 19.8% year-over-year in February, an even higher rate than the 19.2% growth seen in January, according to the S&P CoreLogic Case-Shiller US National Home Price Index. Phoenix, Tampa and Miami reported the highest year-over-year gains among the 20 US
Continue ReadingOpinion by Levar Stoney and John Giles for CNN Business Perspectives Families across America are precariously perched on the edge of a hunger cliff. With inflation on the rise and supply chain backlogs, more families have been turning to food banks, forcing programs nationwide to ration supplies and cut services. And now the war in
Continue ReadingBy Julia Horowitz, CNN Business The world’s richest man wasn’t convinced he’d be successful in his bid to buy Twitter, one of the most influential social media companies on the planet. But Tesla CEO Elon Musk pulled it off. On Monday, Twitter announced that it had reached a deal to sell the company to Musk
Continue ReadingCNN, CNNBUSINESS By Julia Horowitz, CNN Business The world’s richest man wasn’t convinced he’d be successful in his bid to buy Twitter, one of the most influential social media companies on the planet. But Tesla CEO Elon Musk pulled it off. On Monday, Twitter announced that it had reached a deal to sell the company
Continue ReadingBy Sara Ashley O’Brien and Clare Duffy, CNN Business Four years ago, Twitter cofounder and then-CEO Jack Dorsey laid out four key focus areas that would propel the company’s growth. Among them: promoting “healthy conversation” on the platform. After years of criticism for Twitter’s apparent failures to prevent its platform from turning toxic, Dorsey acknowledged
Continue ReadingBy Laura He, CNN Business Chinese stocks slumped deeper into a bear market Tuesday and the yuan traded near a 17-month low as investors grow increasingly pessimistic about the impact of Covid-19 lockdowns on the world’s second biggest economy. The Chinese currency traded at 6.57 to the US dollar in offshore trade, after plunging to
Continue ReadingCNN By Laura He, CNN Business China is about to embark on a new infrastructure spending spree in a bid to fix an economy nearing breaking point because of Covid lockdowns. President Xi Jinping told a meeting of senior economic officials Tuesday that “all out efforts” must be made to boost construction to increase domestic
Continue ReadingCNN By Sara Ashley O’Brien and Clare Duffy, CNN Business Four years ago, Twitter cofounder and then-CEO Jack Dorsey laid out four key focus areas that would propel the company’s growth. Among them: promoting “healthy conversation” on the platform. After years of criticism for Twitter’s apparent failures to prevent its platform from turning toxic, Dorsey
Continue ReadingBy Nicole Goodkind, CNN Business The US Senate has retirement on the brain, and it’s not because the average age of the legislative body is 64. A group of new bills that could change the way Americans save for retirement have landed on lawmakers’ desks this spring. The proposals have broad, bipartisan support and a
Continue ReadingCNN By Clare Duffy and Donie O’Sullivan, CNN Business Elon Musk is officially set to buy Twitter, and the company’s employees have questions. At an all-hands meeting Monday afternoon with CEO Parag Agrawal and Board Chair Bret Taylor, Twitter employees raised questions about everything from what the deal would mean for their compensation to whether
Continue ReadingBy Clare Duffy and Donie O’Sullivan, CNN Business Elon Musk is officially set to buy Twitter, and the company’s employees have questions. At an all-hands meeting Monday afternoon with CEO Parag Agrawal and Board Chair Bret Taylor, Twitter employees raised questions about everything from what the deal would mean for their compensation to whether former
Continue ReadingCNN, CNNBUSINESS By Sara Ashley O’Brien and Clare Duffy, CNN Business Four years ago, Twitter cofounder and then-CEO Jack Dorsey laid out four key focus areas that would propel the company’s growth. Among them: promoting “healthy conversation” on the platform. After years of criticism for Twitter’s apparent failures to prevent its platform from turning toxic,
Continue ReadingBy Ramishah Maruf, CNN Business The National Labor Relations Board petitioned in federal court to force Starbucks to rehire three workers who claimed the coffee chain retaliated against them for attempting to unionize. An Arizona-based regional director for the NLRB filed for an injunction asking the court to require Starbucks to reinstate the employees with
Continue ReadingBy Matt Egan, CNN Business Stock markets are turbulent and Morgan Stanley is warning clients the ride is about to get even bumpier. Investors have “very few places to hide” in markets right now, with even defensive stocks succumbing to the pressure in recent days, Morgan Stanley equity strategists led by Mike Wilson wrote on
Continue ReadingBy Matt Egan, CNN Business Elon Musk’s quest to become a social media mogul is dealing a blow to Donald Trump’s social venture. Shares of Digital World Acquisition Corporation, the controversial blank-check firm that plans to merge with Trump Media & Technology Group, fell 13% on Monday to close at $35.71. That’s the lowest level
Continue ReadingCNN, CNNBUSINESS By Amy Cassidy and Anna Cooban, CNN Business Norwegian police arrested seven Greenpeace activists on Monday after they chained themselves to a Russian oil tanker to try to prevent it docking at a port in Norway operated by Exxon. The Ust Luga — loaded with Russian jet fuel worth $116 million — was
Continue Reading