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CNN, CNN BUSINESS By Jackie Wattles, CNN Business In the minutes after Astra — a US-based startup — launched its rocket from a remote site in Alaska Tuesday afternoon, investors appeared ready to believe that the company had, once again, failed to keep the mission on track. Astra confirmed on Twitter that the rocket had
Continue ReadingBy Jackie Wattles, CNN Business In the minutes after Astra — a US-based startup — launched its rocket from a remote site in Alaska Tuesday afternoon, investors appeared ready to believe that the company had, once again, failed to keep the mission on track. Astra confirmed on Twitter that the rocket had made it to
Continue ReadingBy Chris Isidore, CNN Business Jet fuel prices are soaring along with other fuel costs. So are airfares. Blame the return of passenger demand — rather than fuel prices — if you pay more for a flight this spring or summer. The nation’s leading airline executives appeared at a JPMorgan investor conference Tuesday and all
Continue ReadingBy Jennifer Korn, CNN Business Forget the stereo. Your next car could come with a virtual reality entertainment system. Holoride, a tech startup whose promise is “turning vehicles into moving theme parks,” recently announced at the SXSW festival in Austin that it is bringing VR headsets to select Audi SUVs and sedans this summer. With
Continue ReadingBy Phil Mattingly and Kaitlan Collins, CNN Sarah Bloom Raskin has withdrawn from consideration to be a nominee for the Federal Reserve Board of Governors. Raskin submitted her withdrawal in a letter to President Joe Biden. Biden nominated Raskin in January for the position of vice chair of supervision at the Fed, a role that
Continue ReadingCNN By Oliver Darcy and Brian Stelter, CNN Business A Monday attack on a Fox News crew reporting near the Ukrainian capital of Kyiv left two of the network’s journalists dead and its correspondent severely injured, the channel said on Tuesday. Killed in the attack were Pierre Zakrzewski, a 55-year-old longtime war photojournalist, and Oleksandra
Continue ReadingBy Anna Cooban, CNN Business Intel plans to invest up to €80 billion ($89 billion) over the next decade to build up Europe’s supply chain for semiconductor chips. The tech giant said on Tuesday that it will spend an initial €17 billion ($19 billion) to create two new chip factories in Germany. Construction on the
Continue ReadingBy Frank Pallotta, CNN Business Winning the hearts and minds of children could be part of the solution to Netflix’s recent growth problems. That’s why it’s doubling down on Dr. Seuss. The streaming company announced Tuesday that it was premiering five new animated series based on books by beloved children’s book author Theodor Geisel, better
Continue ReadingBy David Goldman, CNN Business A Russian state television journalist who protested the invasion of Ukraine during a live news broadcast was found guilty Tuesday of organizing an “unauthorized public event.” A district court in Moscow said in a statement that Marina Ovsyannikova, an editor at Channel One, had been found guilty of the “administrative
Continue ReadingBy Paul R. La Monica, CNN Business Movie theater chain and meme stock favorite AMC has taken several steps of late to diversify beyond its core business. The company has recently gotten into cryptos and NFTs and also plans to sell its own popcorn brand at retail stores. And in another unconventional move, AMC is
Continue ReadingBy Oliver Darcy and Brian Stelter, CNN Business A Monday attack on a Fox News crew reporting near the Ukrainian capital of Kyiv left two of the network’s journalists dead and its correspondent severely injured, the channel said on Tuesday. Killed in the attack were Pierre Zakrzewski, a 55-year-old longtime war photojournalist, and Oleksandra “Sasha”
Continue ReadingCNN By Paul R. La Monica, CNN Business March Madness isn’t just for college basketball fans. That phrase is also an apt description of the volatility on Wall Street, and this March is no different. Just look at what stocks have done so far this month. It began with worries about Russia’s invasion of Ukraine
Continue ReadingBy Clare Duffy and Rachel Metz, CNN Business Russia’s invasion of Ukraine is unfolding online like no war in history, providing a real-time stream of information on social platforms like Twitter, Facebook and TikTok. But with that unique view into the conflict comes a flood of misinformation that’s especially hard to root out — effectively
Continue ReadingBy Chris Isidore, CNN Business After more than a month of surging prices, Tuesday brought some modest — very modest — relief to drivers. The average price of a gallon of regular gas fell to $4.32 a gallon, down from $4.33 a gallon Monday, according to AAA. Even at just nine-tenths of a cent, it
Continue ReadingBy Anna Cooban, CNN Business Nazmin Begum has a problem: she’s having to pay much more to keep her two children warm and fed as the United Kingdom endures its worst cost of living crisis in three decades. “Everything’s increasing,” she told CNN Business during a visit to The Boiler House, which provides discounted food,
Continue ReadingBy Anneken Tappe, CNN Business Prices kept rising in February as another key inflation gauge soared and hit double digits. The US producer price index, which tracks what America’s producers get paid for their goods and services on average over time, rose 10% for the 12-month period ended in February, not adjusted for seasonal swings,
Continue ReadingBy Julia Horowitz, CNN Business After Russia invaded Ukraine, global oil prices experienced a dramatic spike. Just over a week ago, Brent crude leaped above $139 per barrel. Analysts warned prices could touch $185, then $200 as traders shunned Russian oil, pushing inflation even higher and adding huge strain to the global economy. But there’s
Continue ReadingBy Anneken Tappe, CNN Business Americans have watched prices for everything from diapers to gas go up over the past year. So far, they have kept reaching for their wallets. But what happens when they reach their breaking point? The pandemic and the supply chain crisis have pushed the cost of virtually everything higher. Food
Continue ReadingStory by Reuters and Angela Dewan, CNN Environmental lawyers ClientEarth said on Tuesday they were preparing legal action against the directors of Shell over the company’s climate transition plan, in what they said would be the first such case of its kind. The lawyers from ClientEarth — which is a Shell shareholder — said they
Continue ReadingBy Paul R. La Monica, CNN Business For many years, the world’s most popular emerging markets have been the so-called BRICS: Brazil, Russia, India, China and South Africa. But given that Russia is no longer a market that Westerners can access following the invasion of Ukraine, it might be time for investors to stop lumping
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