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CNN By Brian Stelter, CNN Business President Biden’s State of the Union address reached more than 38 million people in the United States on Tuesday night, according to Nielsen ratings. Around the world, Biden’s message about the Russian invasion of Ukraine was seen by a far larger total audience, but there is no standardized way
Continue ReadingBy Sara Ashley O’Brien, CNN Business First, Amazon killed traditional bookstores. Then it opened its own. Now, Amazon is doing away with its bookstores. The e-commerce giant confirmed Wednesday that it is closing 68 retail locations, including all of its Amazon Books stores, as part of a broader shift in its bricks-and-mortar retail strategy. In
Continue ReadingBy Brian Stelter, CNN Business President Biden’s State of the Union address reached more than 38 million people in the United States on Tuesday night, according to Nielsen ratings. Around the world, Biden’s message about the Russian invasion of Ukraine was seen by a far larger total audience, but there is no standardized way to
Continue ReadingBy Allison Morrow, CNN Business If Russia’s oligarchs weren’t already shaking in their custom Italian-leather boots, they probably are now. In his first State of the Union address Tuesday night, President Joe Biden addressed Russian President Vladimir Putin’s cronies directly, telling them that the United States and its allies are coming to “seize your yachts,
Continue ReadingBy Frank Pallotta, CNN Business Serena Williams called out The New York Times Wednesday after the paper published an article about her venture fund but used a photo of her sister, Venus. The story was about how Serena Williams raised $111 million for a new venture fund, “Serena Ventures.” The incorrect photo did not appear
Continue ReadingCNN By Jackie Wattles and Jennifer Korn, CNN SpaceX has a new deal to launch internet-beaming satellites for its chief competitor in the satellite business — British company OneWeb. The somewhat awkward pairing, announced by OneWeb on Monday, comes after Russia’s invasion of Ukraine effectively brought a halt to Russian launches of commercial Western satellites.
Continue ReadingCNN By Brian Stelter and Bianna Golodryga, CNN Journalists from the last remaining independent news network in Russia have left the country for their own safety, one day after Russia instituted a digital roadblock against the network. The country’s Prosecutor General’s Office issued an order on Tuesday to restrict access to both TV Rain, also
Continue ReadingBy Brian Stelter and Bianna Golodryga, CNN Journalists from the last remaining independent news network in Russia have left the country for their own safety, one day after Russia instituted a digital roadblock against the network. The country’s Prosecutor General’s Office issued an order on Tuesday to restrict access to both TV Rain, also known
Continue ReadingBy Samantha Murphy Kelly, CNN Business Apple is gearing up for its first big product event of the year. The company announced Wednesday it will host a virtual event, with the tagline “Peek Performance,” on March 8. Apple is rumored to be unveiling a series of new MacBooks and iMacs featuring the second iteration of
Continue ReadingBy Brian Fung, CNN Business Over the past week, Ukraine’s government has pressured major tech platforms to rethink how they operate with Russia, and it has been pretty successful. Social media companies have reduced the reach of Russian state-backed media outlets, for example, and Apple has stopped selling its products and limited some services in
Continue ReadingBy Peter Valdes-Dapena, CNN Business Ford is creating two new business units, one for electric vehicles and software and another for its traditional internal combustion vehicles. These companies will report their financial results separately from the rest of Ford but they will not be spun off as entirely separate companies. This new corporate structure will
Continue ReadingBy Catherine Thorbecke Fitbit is recalling 1.7 million smartwatches due to a potential burn hazard, the Consumer Product Safety Commission said Wednesday. The voluntary recall exclusively involves Fitbit Ionic smartwatch models, which contain a lithium-ion battery that can potentially overheat and pose a burn hazard to consumers, according to the CPSC. The agency said the
Continue ReadingBy Paul R. La Monica, CNN Business Is the American consumer finally close to being tapped out? It appears that some Wall Street investors think that shoppers might, at long last, be ready to drop. According to a report this week from S&P Global Market Intelligence, short selling in consumer stocks — essentially betting that
Continue ReadingCNN, CNN BUSINESS By Peter Valdes-Dapena, CNN Business The Felicity Ace, the cargo ship carrying cars and SUVs from brands including Audi, Porsche, Bentley and Lamborghini, has now sunk. It had caught fire February 16th and its crew abandoned the ship. The largely burned out ship was being towed back to a safe port when
Continue ReadingBy Matt Egan, CNN Business Russia’s stock market remains shut down. The ruble is worth less than a penny. And Western businesses are fleeing. JPMorgan warns a Russian default could be next. “Sanctions imposed on Russia have significantly increased the likelihood of a Russia government hard currency bond default,” JPMorgan emerging markets strategists wrote in
Continue ReadingBy Peter Valdes-Dapena, CNN Business The Felicity Ace, the cargo ship carrying cars and SUVs from brands including Audi, Porsche, Bentley and Lamborghini, has now sunk. It had caught fire February 16th and its crew abandoned the ship. The largely burned out ship was being towed back to a safe port when it sank yesterday,
Continue ReadingBy Anna Cooban, CNN Business Palm oil prices have shot up in the wake of Russia’s invasion of Ukraine as markets scramble to find alternatives to shipments of sunflower oil stuck in Black Sea ports. Palm oil futures prices in Indonesia — the world’s biggest exporter of the product — have soared by more than
Continue ReadingCNN By Brian Lowry and Frank Pallotta, CNN After a year of simultaneously releasing movies on HBO Max and in theaters, Warner Bros. returns to exclusive theatrical releases bearing a rather sizable gift: “The Batman.” The movie, which is set to be one of the biggest blockbusters of the year, has wider implications for the
Continue ReadingBy Brian Lowry and Frank Pallotta, CNN After a year of simultaneously releasing movies on HBO Max and in theaters, Warner Bros. returns to exclusive theatrical releases bearing a rather sizable gift: “The Batman.” The movie, which is set to be one of the biggest blockbusters of the year, has wider implications for the studio
Continue ReadingBy Chris Isidore, CNN Business Oil prices are soaring to seven-year highs, but don’t expect US oil producers to ramp up supply. On the face of it, it’s an ideal time for US firms to cash in on high prices after Russia’s invasion of Ukraine: Traders are nervous about purchasing Russian oil due to uncertainty
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