By Ramishah Maruf, CNN Business It’s been a rough few weeks for Peloton. And to round it off, another TV show character experienced a heart attack on the interactive bike — this time (spoiler alert) it’s Mike Wagner (David Costabile) on the season 6 premiere of Showtime’s “Billions.” Last month, Peloton saw an 11% stock
Continue Reading By Ramishah Maruf, CNN Business Former NBC sportscaster Bob Costas, who has covered 12 Olympic Games as a host and commentator, did not hold back when discussing the challenges journalists will face during the Beijing Winter Olympics next month. “The IOC deserves all of the disdain and disgust that comes their way for going back
Continue Reading By Chris Isidore, CNN Business As if consumers weren’t being squeezed enough by rising prices for a wide range of goods, this month’s blast of winter weather will mean that many Americans could face record high heating costs this year. Cold weather, ice and snow have blanketed much of the United States in recent days
Continue Reading By Claudia Dominguez and Alaa Elassar, CNN SpaceX’s unmanned Dragon cargo ship successfully undocked from the International Space Station (ISS) Sunday morning and is making its return to Earth. The CRS-24 cargo ship successfully exited the Space Station’s “keep out sphere” at 10:40 a.m. after a previously scheduled attempt was postponed due to bad weather
Continue Reading By Jordan Valinsky, CNN Business From M&Ms’ mascots becoming more inclusive to a bologna face mask, there was lots of wild food news this week. We’ve done the dutiful task of rounding it all up if you need a change of pace from the doom and gloom of all that other “news.” Here’s what happened:
Continue Reading By Paul R. La Monica, CNN Business The Bank of England has already started to raise interest rates to fight inflation. The Federal Reserve is likely to follow soon. But how aggressive will America’s central bank be? Investors will be looking for clues when chair Jerome Powell holds a press conference after the Fed’s meeting
Continue Reading By Hande Atay Alam and Isil Sariyuce, CNN A Turkish journalist has been sent to prison for “insulting” the nation’s President Recep Tayyip Erdogan. Sedef Kabas was arrested in Istanbul on Saturday following a live interview on the opposition TV channel Tele1 last Friday, according to Turkey’s state broadcaster Turkish Radio and Television, TRT Haber.
Continue Reading By Kelly McCleary, CNN “Saturday Night Live” kicked off this week’s episode with a look back at President Joe Biden’s first year in office through the lens of Fox News host Laura Ingraham and her show, “The Ingraham Angle.” Cast member Kate McKinnon embodied the conservative host, telling her audience of Biden’s term so far,
Continue Reading By Bridget O’Brian, CNN Business The quest for control of Kohl’s is heating up. On Saturday, the retailer received an unsolicited $9 billion bid to go private from a consortium backed by an activist investor, according to published sources. The hedge fund, Starboard Value LP, offered to buy the department store chain for $64 a
Continue Reading By Diksha Madhok, CNN Business Bitcoin has lost almost half its value since its November high, with cryptocurrency prices continuing to plunge as major economies look to curb their growing popularity. And it’s not just Bitcoin, as cryptocurrencies in general have had a dismal start to the year. Bitcoin has fallen over 8% in the
Continue Reading By Anna Bahney, CNN Business If you’re one of many would-be homebuyers who got shut out of the real estate market last year, you might be hoping for better luck in 2022. The good news is that you probably won’t see the jaw-dropping jumps in home prices seen last year. But prices are still expected
Continue Reading By Ramishah Maruf, CNN Business Inflation and supply chain snags have sent prices for everyday items soaring, from Tide laundry detergent to new cars. Here’s what CNN Business found got more expensive this week, and what might be next. Orange juice A combination of short supply and high demand has sent orange prices soaring. Frozen
Continue Reading By Kathryn Vasel, CNN Business The past 22 months of the pandemic have forced many companies to recruit, work and retain talent remotely. And that means some workers just entering the labor force have never worked in an office, met any colleagues in-person or commuted farther than a few feet. ‘A happier employee’ Morgan Tolles
Continue Reading By Paul R. La Monica, CNN Business Stocks are off to a tough start this year. The tech-heavy Nasdaq is already in a correction, a more than 10% drop. And if one the most influential hedge fund managers is to be believed, this could be only the beginning of a very painful time for investors.
Continue Reading By Matt Egan, CNN Business The percentage of the adult population not working because of Covid-related reasons tripled between December and January, according to Goldman Sachs. The Wall Street bank, citing the latest Household Pulse Survey of roughly 75,000 respondents from the Census Bureau, said the share of adults not working due to virus-related reasons
Continue Reading Opinion by Karin Kimbrough for CNN Business Perspectives Entering year three of the pandemic, the labor market today looks markedly different from when we entered this crisis. At LinkedIn, my team of data scientists and economists has a unique view into how ways of working have shifted — through the lens of over 180 million
Continue Reading By Parija Kavilanz, CNN Business Just after Thanksgiving, Carmen Allen became alarmed by the jump in prices and shortages of food products at her local grocery stores. “Cake mix,” Allen says. “I was worried I wouldn’t find enough of it to give out in our food baskets.” Allen serves as president and executive director of
Continue Reading By Jeremy Harlan and Carma Hassan, CNN Business Nearly 8,000 workers at 78 King Soopers and City Market grocery stores in Colorado will return to work starting Friday, after union leaders and management reached a tentative three-year work agreement. The strike, which began January 12, was the nation’s second-largest in the last two years —
Continue Reading By Paul R. La Monica, CNN Business Peloton had a disastrous 2021. But as impossible as it may seem, the exercise equipment company is arguably off to an even worse start to 2022. Shares of Peloton are down nearly 25% this year and trading at their lowest level in nearly two years. The stock was
Continue Reading By Joseph Ataman and Matt Egan, CNN TotalEnergies and Chevron are withdrawing from Myanmar because of the deteriorating situation in the country since the military seized power nearly a year ago. “The situation, in terms of human rights and more generally the rule of law, which have kept worsening in Myanmar since the coup of
Continue Reading By Chris Isidore, CNN Business Jamie Dimon got a $3 million raise in 2021, JPMorgan Chase disclosed in a filing late Thursday. The raise boosts the pay for the CEO of the nation’s largest bank by 9.5%, to $34.5 million. The pay package includes a base salary of $1.5 million and a $5 million cash
Continue Reading By Charles Riley, CNN Business When the coronavirus pandemic swept across the world in 2020, investors responded by pouring money into companies that would benefit from people spending much more time at home. Netflix and Peloton were two of the biggest pandemic winners, along with video call provider Zoom Video and electronic signature firm DocuSign.
Continue Reading By Paul R. La Monica, CNN Business Intel was once the undisputed king of the semiconductor industry until the chip giant lost momentum to rivals Nvidia and Advanced Micro Devices in recent years. Now, with a new CEO, Intel is regaining some of its swagger. Intel, whose stock fell more than 15% in 2020 and
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By Reuters Shares in Rio Tinto tumbled on Friday after Serbia revoked its lithium exploration licenses over environmental concerns, hurting the Anglo-Australian miner’s ambition to become Europe’s largest supplier of the metal used in electric vehicles. The decision by Serbia comes as it approaches a general election in April, and as relations between Belgrade and
Continue Reading By Diksha Madhok, CNN Business Cryptocurrencies have had a dismal start to the year, and continue to plunge as major economies around the world look to curb their growing popularity. Bitcoin has fallen over 7% in the last 24 hours, and was trading at $39,097 as of 3:00 am ET, according to CoinDesk. The world’s
Continue Reading By Laura He, CNN Business Evergrande’s international creditors are losing patience. A group of the company’s overseas bondholders are threatening to take legal action over its “opaque” debt restructuring process, the latest sign of trouble for the embattled Chinese developer. They said in a statement Thursday they’ve had to “seriously consider enforcement actions” after Evergrande
Continue Reading By Matt McFarland, CNN Business Two leaders in motor vehicle safety testing said Thursday that they will rate the driver monitoring systems that are supposed to help make technologies like Tesla’s Autopilot safe. The Insurance Institute for Highway Safety and Consumer Reports are pushing for safeguards that go further than what the auto industry and
Continue Reading By Frank Pallotta, CNN Business Netflix‘s stock fell as much as 20% in after hours trading due to a bad outlook for its future growth. Netflix now has 221.8 million subscribers globally. It added 8.2 million subscribers in the fourth quarter of 2021, the company reported on Thursday. That number slightly missed the streaming service’s
Continue Reading By Pete Muntean The Federal Aviation Administration has cleared more commercial airliners — notably more smaller, regional jets — to fly in the situations where pilots consider possible 5G interference to be the most dangerous. In a new statement, the FAA says it has issued more approvals that allow 78% of the US commercial airliner
Continue Reading By Chris Isidore, CNN Business Airline executives breathed a sigh of relief to their investors Thursday, saying they believe the threat to their operations from the rollout of 5G technology is now behind them. Although AT&T and Verizon have agreed only to temporarily delay 5G deployment at major airports, the CEOs of American and United
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