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By Jennifer Korn An abandoned cargo ship packed with cars is adrift in the Atlantic Ocean, after a rapidly-spreading fire on board forced the crew to escape. The 656 foot-long Felicity Ace roll-on/roll-off car-carrying ship caught fire in the North Atlantic on Wednesday as it carried cargo, including Porsches and Volkswagens, from Emden, Germany to
Continue ReadingBy Matt McFarland, CNN Business The National Highway Traffic Safety Administration is investigating reports of Teslas braking unexpectedly while using Autopilot. The braking occurs “without warning, at random, and often repeatedly in a single drive,” according to NHTSA. It estimates that 416,000 vehicles may be affected. The agency did not say whether it was aware
Continue ReadingCNN By Paul R. La Monica, CNN Business President Joe Biden and Secretary of State Antony Blinken believe a Russian invasion of Ukraine could happen in a matter of days. The news rattled investors, sending the Dow down 622 points, or 1.8%, Thursday. It was the worst day of the year for the index. Stocks
Continue ReadingBy Anneken Tappe, CNN Business Prices are soaring in America. The pandemic has spurred inflation not seen in decades. Used and new cars, gas, housing, furniture and food cost more every month. Even though salaries are also rising, they aren’t going up as quickly as prices. Meanwhile, people who have paid-off their mortgage, work from
Continue ReadingBy Peter Valdes-Dapena, CNN Business Michelin has been working with General Motors to develop airless tires that will be sold on a next-generation Chevrolet Bolt electric car, expected to go on sale in the next few years, a Michelin executive said. It could mark the decline of over 130 years of tire tradition but also
Continue ReadingBy Chris Isidore, CNN Business Elon Musk is convinced that the Securities Exchange Commission is gunning for him and his free speech rights because he’s a frequent critic of the government. “The SEC seems to be targeting Mr. Musk and Tesla for unrelenting investigation largely because Mr. Musk remains an outspoken critic of the government,”
Continue ReadingBy Paul R. La Monica, CNN Business Apple is the most valuable company on the planet. And as a reward for the iPhone maker’s success, CEO Tim Cook stands to receive nearly $100 million in compensation for 2021. But one influential shareholder rights group has some issues with Cook getting that big of a payday.
Continue ReadingCNN, CNN BUSINESS By Samantha Murphy Kelly, CNN Business Apple is about to hold its first big product event of 2022 and the focus will be on performance. That likely means faster chips, more devices with 5G connectivity and more powerful cameras. At a virtual event on Tuesday, which has the tagline “peek performance,” Apple
Continue ReadingBy Samantha Murphy Kelly, CNN Business I stood outside a busy New York City subway stop recently, dressed like a celebrity trying not to be recognized. My face was covered with sunglasses, a baseball cap and my black KN95 mask. But my iPhone immediately recognized me as its rightful owner, without needing me to uncover
Continue ReadingBy Allison Morrow, CNN Business An orange tabby cat named Jorts has become something of a mascot of the labor movement in America. And if none of that charms you, you might as well stop reading now. For the uninitiated: Jorts, along with his feline comrade Jean, became internet famous in December when an anonymous
Continue ReadingBy Danielle Wiener-Bronner, CNN Business Coke’s new flavor is out of this world. At least, that’s the idea behind Coca-Cola Starlight, a new limited-edition version of the classic soda that comes in regular and zero sugar. After deciding to discontinue half of its portfolio a few years ago, getting rid of outdated but beloved drinks
Continue ReadingBy Jennifer Korn, CNN Business Eviation, the company behind what is supposed to be the world’s first all-electric passenger airplane, has undergone an unexpected change in leadership just before the plane’s projected first flight — and the company and the now-former CEO are offering different takes on the situation. Eviation, an Israel-based company, has said
Continue ReadingBy Anneken Tappe, CNN Business America’s “Great Resignation” has transformed the workforce, leading to higher wages and better conditions for many. It has also left a mark on the nation’s high rate of inflation. But as the “Great Return” beckons for employees who have spent months working from home, their attitude to in-person work, pay
Continue ReadingBy Jordan Valinsky, CNN Business Taco Bell is bringing back a fan-favorite frozen dessert. The Klondike Choco Taco will be added to menus at 20 Taco Bell locations in Los Angeles and Milwaukee. The sweet treat features a waffle cone that’s shaped like a taco, filled with fudge-swirled vanilla ice cream and topped with a
Continue ReadingBy Frank Pallotta, CNN Business The upside-down world of Eleven, Sheriff Jim Hopper and Hawkins, Indiana, is coming to an end. “Stranger Things” — one of Netflix’s biggest franchises and most popular series — will conclude in season 5, the company announced on Thursday. “Seven years ago, we planned out the complete story arc for
Continue ReadingBy Jeanne Sahadi, CNN Business Want help figuring out how to buy a home or pay down debt? Clueless about budgeting? Just want a second opinion on your decision to retire in a few years or start your own business? You might find it helpful to consult a financial coach. You may even have free
Continue ReadingBy Paul R. La Monica, CNN Business A conversation with 98-year old Berkshire Hathaway vice chairman Charlie Munger is never dull. Munger talked about his reasons for investing in China, how he still hates bitcoin and why windowless dormitories aren’t as bad as people make them out to be in a wide-ranging chat at the
Continue ReadingBy Kathryn Vasel It’s a job seekers’ market, and employers are stepping up their benefits in a bid to attract and retain workers. People are walking away from their jobs in droves, with a record number of workers quitting their jobs last year, according to the Labor Department. And with nearly 11 million job openings
Continue ReadingBy Anna Bahney, CNN Business Mortgage rates increased again, rising to a level not seen since summer 2019. The 30-year fixed-rate mortgage averaged 3.92% in the week ending February 17, up from 3.69% the week before, according to Freddie Mac. It has not been this high since May 2019 when it was at 3.99%. Mortgage
Continue ReadingOpinion by Erik Lundh for CNN Business Perspectives Last year was a tough one for American consumers. Prices for just about everything, from eggs to used cars to electricity, crept higher, and by the end of the year were up 7% from a year earlier. Unfortunately, that number went even higher last month, with the
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