Money

Russia’s shadowy energy trade is raising fears of a devastating oil spill

April 21, 2023 4:23 AM CNN Newsource

By Clare Sebastian, Livvy Doherty and Julia Horowitz, CNN The waters of the Bay of Lakonikos, on the south-eastern side of Greece’s Peloponnese peninsula, are a bright turquoise color. Its shores are an important nesting site for sea turtles. Yet it’s not just a place of natural beauty. The area has become a key hub

BMW’s Mini apologizes after meltdown over ice cream at Shanghai auto show

April 21, 2023 2:07 AM CNN Newsource

By Nectar Gan, CNN BMW has landed in hot water in China over tubs of ice cream. The luxury German automaker’s Mini unit had to apologize repeatedly after being accused of discrimination against Chinese visitors when handing out free ice cream at the Shanghai auto show this week. Videos circulating widely on social media Thursday

Smartmatic could be Fox’s next big problem

April 21, 2023 12:57 AM CNN

CNN By Jennifer Korn, CNN Fox News’ legal battle with Dominion Voting Systems is over. It now has to deal with Smartmatic, which is seeking billions of dollars more than its rival wanted in damages. The voting technology company filed a lawsuit against Fox in New York state courts for defamation following the 2020 election,

Lachlan Murdoch drops defamation suit against Australian outlet Crikey in wake of massive Dominion settlement

April 20, 2023 7:09 PM CNN Newsource

By Oliver Darcy, CNN Fox Corporation chief executive Lachlan Murdoch on Friday dropped his defamation lawsuit against the publisher of Crikey, the scrappy Australian news and commentary site, after it published an article last year that called him an “unindicted co-conspirator” in the January 6 attack, his lawyer said. Murdoch’s lawyer, John Churchill, said Murdoch

Fox agrees to give more Murdoch docs to Smartmatic in its defamation case

April 20, 2023 4:50 PM CNN

CNN By Marshall Cohen, CNN Fox News has agreed to provide voting technology company Smartmatic with additional material about its corporate chairman Rupert Murdoch and other top executives, as part of Smartmatic’s $2.7 billion lawsuit against the right-wing network. The agreement was announced Wednesday at a court hearing in Manhattan regarding the defamation case, which

Smartmatic wants more than Dominion’s $787 million payout, plus a retraction from Fox for its 2020 election lies, lawyer says

April 20, 2023 4:50 PM CNN Newsource

By Marshall Cohen, CNN A top lawyer for Smartmatic, the voting technology company whose defamation lawsuit against Fox News is still pending, said Thursday that he won’t accept any settlement smaller than the $787 million Fox agreed to pay Dominion, and that his client needs a “full retraction” from the right-wing network disavowing the lies

Blackstone is the latest victim of the weakening commercial real estate market

April 20, 2023 3:18 PM CNN Newsource

By Nicole Goodkind, CNN The ongoing commercial real estate slowdown has a new victim: Blackstone, the largest owner of commercial real estate globally. The company saw its distributable earnings — the profit distributed to shareholders after expenses — plunge 36% since last year. That’s raising eyebrows on Wall Street as investors assess the fallout from

The $787.5 million settlement Fox agreed to pay is a lot. But its net cost will likely be much less

April 20, 2023 3:10 PM CNN Newsource

By Jeanne Sahadi, CNN The $787.5 million settlement that Fox News has agreed to pay in the historic defamation case from Dominion Voting Systems is a blockbuster number by any measure — but when all is said and done, the chances that the right-wing network will end up absorbing the full cost is highly unlikely.

Markets are starting to get worried about the debt ceiling

April 20, 2023 2:58 PM CNN

CNN Elisabeth Buchwald, CNN You’d hardly know by looking at financial markets that the US debt limit was breached in January. But that’s starting to change, in what is shaping up to be a nail-biting game of debt ceiling squabbling as the shot clock is winding down. If lawmakers don’t raise the nation’s borrowing limit

Markets are starting to get worried about the debt ceiling

April 20, 2023 2:58 PM CNN Newsource

Elisabeth Buchwald, CNN You’d hardly know by looking at financial markets that the US debt limit was breached in January. But that’s starting to change, in what is shaping up to be a nail-biting game of debt ceiling squabbling as the shot clock is winding down. If lawmakers don’t raise the nation’s borrowing limit by

Tesla shares plunge on lower prices, tighter profit margins

April 20, 2023 2:45 PM CNN Newsource

By Chris Isidore, CNN Tesla has cut the prices of its EVs repeatedly this year. Now investors are cutting the price of its shares. Shares of Tesla tumbled nearly 10% Thursday following its disappointing earnings report on Wednesday evening, as it reported that its profit margins fell below the 20% mark that analysts had been

CEO questions whether parents who are primary caregivers are being ‘fair’ to employers and children

April 20, 2023 2:11 PM CNN

CNN By Chris Isidore, CNN A Utah CEO who is demanding that many of his remote employees start working in the company’s offices says staff members must make sacrifices, and questions whether people who serve as primary caregivers for their children, specifically working mothers and single mothers, are doing right by both their employers and

CFPB says employee sent confidential data of 256,000 consumers to personal email

April 20, 2023 12:57 PM CNN Newsource

By Krystal Hur, CNN An employee at the Consumer Financial Protection Bureau sent confidential data about hundreds of thousands of consumer accounts to their personal email, the agency told CNN on Thursday. Approximately 14 emails included consumer personally identifiable information, or PII. The employee also sent two spreadsheets that listed names and transaction-specific account numbers

CEO questions whether parents who are primary caregivers are being ‘fair’ to employers and children

April 20, 2023 12:07 PM CNN Newsource

By Chris Isidore, CNN A Utah CEO who is demanding that many of his remote employees start working in the company’s offices says staff members must make sacrifices, and questions whether people who serve as primary caregivers for their children, specifically working mothers and single mothers, are doing right by both their employers and their

Secretary Yellen says national security may come at a cost in US-China relationship

April 20, 2023 10:11 AM CNN Newsource

Bryan Mena, CNN The United States will safeguard its national security, even if it comes at an economic cost to its relationship with China, US Treasury Secretary Janet Yellen said on Thursday. “Even though these policies may have economic impacts, they’re driven by straightforward national security considerations, and we will not compromise on these concerns

US Chamber of Commerce warns of major increase in risks for businesses in China

April 20, 2023 9:53 AM CNN

CNN By Michelle Toh, CNN The United States Chamber of Commerce has warned that rising scrutiny of American firms in China “dramatically increases” the uncertainties and risks of doing business in the country. The influential business lobby said Friday it was closely monitoring “heightened official scrutiny” of US firms by the Chinese authorities, following the

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