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By Brian Fung, CNN Washington (CNN) — Google’s advertising business should be broken up, European Union officials said Wednesday, alleging that the tech giant’s involvement in multiple parts of the digital advertising supply chain creates “inherent conflicts of interest” that risk harming competition. The formal accusations mark the latest antitrust challenge to Google over its
Continue ReadingBy Jordan Valinsky, CNN New York (CNN) — America’s top-selling beer is no longer American. Modelo Especial, the Mexican lager brewed near Mexico City by Constellation Brands, became the top-selling beer in May, overthrowing Bud Light from the top spot it has held for more than two decades. The fall from the top further highlighted
Continue ReadingCNN By Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve said Wednesday it would pause its historic rate-hiking campaign as it waits for the effects to trickle further through the economy, but signaled that additional rate hikes are likely this year. The vote to skip a rate increase this meeting was unanimous. Since
Continue ReadingBy Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve said Wednesday it would pause its historic rate-hiking campaign as it waits for the effects to trickle further through the economy, but signaled that additional rate hikes are likely this year. The vote to skip a rate increase this meeting was unanimous. Since March
Continue ReadingCNN By Oliver Darcy, CNN (CNN) — The operation was devised on the eve of the arraignment. The chief judge presiding over the Miami federal court in which former President Donald Trump was arraigned on Tuesday had made the decision to prohibit electronics inside the courthouse, presenting a major hurdle for news organizations needing to
Continue ReadingBy Oliver Darcy, CNN (CNN) — The operation was devised on the eve of the arraignment. The chief judge presiding over the Miami federal court in which former President Donald Trump was arraigned on Tuesday had made the decision to prohibit electronics inside the courthouse, presenting a major hurdle for news organizations needing to quickly
Continue ReadingBy Catherine Thorbecke, CNN (CNN) — Amazon Web Services was briefly hit by a wide-ranging outage on Tuesday afternoon that impacted a large number of major websites, including the Boston Globe and New York City’s Metropolitan Transit Authority. The afternoon outage affected some news organization’s ability to publish coverage of former President Donald Trump’s court
Continue ReadingBy Samantha Delouya, CNN Los Angeles (CNN) — As the dust begins to settle on the Covid-fueled economic tumult of the last few years, one pandemic-era trend appears to be on its way out: The Great Resignation. Almost 50 million people quit their job in the two years following the worst of the pandemic, citing
Continue ReadingBy Samantha Murphy Kelly, CNN Business (CNN) — Amazon is experimenting with using artificial intelligence to sum up customer feedback about products on the site, with the potential to cut down on the time shoppers spend sifting through reviews before making a purchase. On the Amazon product page for Apple’s third-generation AirPods, for example, the
Continue ReadingBy Jordan Valinsky, CNN New York (CNN) — Bored at work? Annoyed with your boss? You’re not alone. A new Gallup poll released Tuesday revealed that workers around the world are historically stressed, disengaged with their work and increasingly fighting with their bosses. Gallup’s “State of the Global Workplace 2023” examined how “employees feel about
Continue ReadingBy Chris Isidore, CNN New York (CNN) — Instant Brands, the maker of Instant Pot, Corelle, and Pyrex, among other products, has filed for bankruptcy. The Chapter 11 bankruptcy filing came on Monday. Chapter 11 bankruptcy allows for a reorganization of the company, rather than its liquidation in a Chapter 7 filing, The company blamed
Continue ReadingCNN, KGO By Catherine Thorbecke, CNN (CNN) — Elizabeth Holmes, the disgraced former Theranos CEO, has “limited financial means” and should not be forced to pay $250 a month to victims of her crimes after she is released from prison, her lawyers argued in a court filing on Monday. The move from Holmes’ attorneys comes
Continue ReadingBy Catherine Thorbecke, CNN (CNN) — Elizabeth Holmes, the disgraced former Theranos CEO, has “limited financial means” and should not be forced to pay $250 a month to victims of her crimes after she is released from prison, her lawyers argued in a court filing on Monday. The move from Holmes’ attorneys comes after federal
Continue ReadingBy Danielle Wiener-Bronner, CNN New York (CNN) — US grocery prices ticked up in May after dipping in March and April. Inflation in America continued to fall significantly, but rising prices at the supermarket is unwelcome news to those struggling to pay for food. From April to May, adjusted for seasonal swings, grocery prices got
Continue ReadingBy Clare Duffy, CNN New York (CNN) — When Tim Cook took over as Apple CEO from Steve Jobs nearly 12 years ago, some thought the company was already at its peak. Under Cook, however, Apple’s market cap has surged by more than 700% to nearly $3 trillion. Its iPhone business has continued to be
Continue ReadingCNN By Clare Duffy, CNN New York (CNN) — When Tim Cook took over as Apple CEO from Steve Jobs nearly 12 years ago, some thought the company was already at its peak. Under Cook, however, Apple’s market cap has surged by more than 700% to nearly $3 trillion. Its iPhone business has continued to
Continue ReadingBy Hanna Ziady, CNN London (CNN) — The number of people in work in the United Kingdom has climbed above its pre-pandemic level for the first time, reaching a record high. But that hasn’t plugged worker shortages that are pushing up wages and making Britain’s inflation problem harder to solve. Employment hit a record 33.1
Continue ReadingBy Alicia Wallace, CNN Minneapolis (CNN) — US inflation is leaving those sky-high days behind: Consumer prices in May rose at the slowest annual pace since March 2021, according to data released Tuesday by the Bureau of Labor Statistics. The Consumer Price Index, a key inflation gauge that measures price changes for a basket of
Continue ReadingBy Bryan Mena, CNN Washington (CNN) — A greater number of small businesses are worried about inflation and future business conditions, according to a survey released Tuesday by the National Federation of Independent Business. If even more business owners become concerned about inflation in the coming months, then that might be a problem for the
Continue ReadingBy Laura He, CNN Hong Kong (CNN) — China’s central bank on Tuesday made a surprise cut to one of its key lending rates in a bid to shore up sputtering growth in the world’s second largest economy. The cut to the 7-day reverse repo rate — the first since August last year — will
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