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By Oliver Darcy and Brian Stelter, CNN Business WarnerMedia chief executive Jason Kilar announced Tuesday that he will depart the company given that Discovery’s acquisition of the media conglomerate is almost complete. “With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be
Continue ReadingBy Sara Ashley O’Brien, CNN Business Instacart is once again tweaking its tipping policy in a bid to address the effects on its workers of a practice known as “tip baiting,” where customers zero out a tip after an order is delivered. The company said Tuesday that it will cover the cost of a shopper’s
Continue ReadingBy Samantha Murphy Kelly, CNN Business Microsoft is unveiling new Windows features in an attempt to improve the experience of virtual meetings and make sure the needs of people with disabilities are supported in a new era of hybrid work. During a virtual event on Tuesday, the company showed off its vision for the future
Continue ReadingCNN, CNNBUSINESS By Chris Isidore, CNN Business Elon Musk has gotten a lot of attention from buying a 9.1% stake in Twitter, along with landing a seat on the company’s board. He’s also worth an additional $1 billion. In a new filing late Tuesday, Musk disclosed how much he paid for the 73 million shares
Continue ReadingBy Paul R. La Monica, CNN Business How crazy rich is Elon Musk? The Tesla and SpaceX CEO’s net worth is now about a stratospheric $300 billion, according to Forbes’ real time rankings of the world’s wealthiest people. That means the 50-year-old Musk has a more than a $100 billion lead over second place Jeff
Continue ReadingOpinion by Scott Galloway for CNN Business Perspectives Remember when Adam Neumann, the CEO of WeWork, pronounced that his startup was going to “elevate the world’s consciousness” versus what the company really did, which was renting desks? There’s a term for that: “Yogababble.” Yogababble is an attempt to smear Vaseline over the lens of truth,
Continue ReadingCNN, CNN BUSINESS Opinion by Scott Galloway for CNN Business Perspectives Remember when Adam Neumann, the CEO of WeWork, pronounced that his startup was going to “elevate the world’s consciousness” versus what the company really did, which was renting desks? There’s a term for that: “Yogababble.” Yogababble is an attempt to smear Vaseline over the
Continue ReadingBy Beth Braverman Millions of Americans left or lost their jobs during the pandemic and many have decided that they don’t want to go back to work …. at least not for someone else. There were nearly 5.4 million new business applications in the United States last year, according to an analysis of Census data
Continue ReadingBy Clare Duffy, CNN Business Elon Musk — once again — has everyone on Twitter talking. But this time, the talk is about Twitter itself. On Monday, the company disclosed that Musk has purchased 9.2% of its shares, making him Twitter’s largest individual shareholder. And on Tuesday, Twitter announced that it is appointing Musk to
Continue ReadingCNN By Clare Duffy, CNN Business Elon Musk — once again — has everyone on Twitter talking. But this time, the talk is about Twitter itself. On Monday, the company disclosed that Musk has purchased 9.2% of its shares, making him Twitter’s largest individual shareholder. And on Tuesday, Twitter announced that it is appointing Musk
Continue ReadingBy Jackie Wattles, CNN Business Amazon is moving its business into the exosphere, with plans to deploy more than 3,000 satellites to beam internet connectivity all over the planet. On Tuesday, the company announced deals with three rocket companies that will launch those satellites. The agreement includes two veteran rocket builders — United Launch Alliance,
Continue ReadingBy Mark Thompson and Chris Liakos, CNN Business Europe is planning to cut deeper into the Russian economy with a new round of sanctions that includes a ban on coal imports. It’s also working on sanctions that could target Russian oil. The measures were announced Tuesday by European Commission President Ursula von der Leyen and
Continue ReadingCNN, CNNBUSINESS By Clare Duffy, CNN Business Elon Musk is set to join Twitter’s board of directors, a move that potentially boosts his influence over the social media platform and which comes one day after it was disclosed that he had become the company’s largest individual shareholder. Twitter said in a regulatory filing Tuesday that
Continue ReadingBy Clare Duffy, CNN Business Elon Musk is set to join Twitter’s board of directors, a move that potentially boosts his influence over the social media platform and which comes one day after it was disclosed that he had become the company’s largest individual shareholder. Twitter said in a regulatory filing Tuesday that it plans
Continue ReadingBy Julia Horowitz, CNN Business Investors are breathing a sigh of relief after regulators in Beijing extended an olive branch to the United States, indicating they could change their policies so that Chinese companies could avoid getting kicked off Wall Street. What’s happening: Shares of tech giant Alibaba in New York rallied almost 7% on
Continue ReadingBy Michelle Toh, CNN Business Gogoro, a Taiwanese electric scooter startup that’s backed by Al Gore and one of Apple’s biggest suppliers, is about to have its day on Wall Street. The company will debut on the Nasdaq on Tuesday after merging with a special purpose acquisition company, Poema Global (PPGH). The deal values the
Continue ReadingBy Laura He, CNN Business The World Bank said on Tuesday that countries in Asia may have to deal with three major economic shocks this year — the war in Ukraine, a sharp slowdown in China, and rate hikes from the US Federal Reserve. The development bank cut its 2022 growth forecast for East Asia
Continue ReadingBy Tiffany Anthony and Nicole Chavez, CNN A judge in Los Angeles has ruled a law requiring public companies headquartered in California to diversify their boards violates the state’s constitution, court documents show. On Friday, Judge Terry Green of Los Angeles County Superior Court sided with Judicial Watch, a conservative legal group that filed a
Continue ReadingBy Casey Tolan and Audrey Ash, CNN Photographs by Rachel Woolf for CNN The steel mill that looms over low-slung neighborhoods in Pueblo, Colorado, is a rare bright spot for American manufacturing. Once part of the state’s largest private employer, pumping out steel that was used to build rail lines across the Western US, it
Continue ReadingBy Matt Egan, CNN Business Two top House Democrats are pushing the CEOs of ExxonMobil, Chevron, BP and Shell to scrap their stock buyback and dividends during the war in Ukraine and shift funding for those shareholder rewards towards lowering prices at the gas pump. “As Vladimir Putin’s illegal war against Ukraine is raising gas
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