By Jordan Valinsky, CNN Business Pepsi Zero Sugar will soon taste different. The sugar-free soda unveiled a new recipe that uses a “new sweetener system” that gives it a more “refreshing and bolder taste profile” compared to its previous iteration, Pepsi announced Friday. Pepsi didn’t reveal what specifically changed in the formula, though the company
Continue Reading By Anna Cooban, CNN The world economy is still in a sticky spot, according to the head of the International Monetary Fund, despite cautious optimism among economists and business leaders that slowing inflation means the worst of last year’s crises may be over. Kristalina Georgieva, managing director of the IMF, said on Friday that conditions
Continue Reading By Anna Cooban, CNN Apple CEO Tim Cook recommended the company cut his pay this year after shareholders rebelled. The world’s largest tech company said it would reduce Cook’s target pay package to $49 million, 40% lower than his target pay for 2022 and about half Cook’s $99.4 million total compensation that he was granted
Continue Reading By Gabe Cohen, CNN At Teddy & The Bully Bar restaurant near downtown Washington, DC, business has never been the same since the pandemic hit. “It’s very challenging,” owner Alan Popovsky said. “I’m still going to be climbing the hill for quite some time. Probably for the rest of my life.” The pandemic closed two
Continue Reading By Brian Fung, CNN The massively disruptive computer outage at the Federal Aviation Administration this week that caused thousands of cancelled or delayed flights has put Americans uncomfortably face-to-face with the technology behind US air travel — for at least the second time in a month. As the country once again picks up the pieces,
Continue Reading By Chris Isidore, CNN Delta Air Lines reported very strong fourth-quarter results Friday that beat forecasts, capping its first profitable year since before the pandemic. But a new labor deal with its pilots union will trim profitability going forward. The Atlanta-based airline said it expects first-quarter earnings per share of 15 to 40 cents, well
Continue Reading By Diksha Madhok Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in China, the world’s largest car market. The company plans to build a research, development and manufacturing facility for parts for new energy vehicles and automated-driving technology in Suzhou, a city in
Continue Reading By Laura He, CNN Swedish mining company LKAB says it has found Europe’s largest deposit of rare earth oxides in the country’s north, a discovery that could reduce the continent’s reliance on China for the critical resource. Rare earth minerals play a key role in generating clean energy and producing electric vehicles and consumer electronics.
Continue Reading By Kocha Olarn and Michelle Toh, CNN For years, Thailand welcomed legions of Chinese tourists to its golden beaches, shopping districts and striking temples. That came to a screeching halt during the Covid pandemic, as China virtually sealed its borders. Now, the Southeast Asian nation is back on the welcome wagon — and telling the
Continue Reading By Laura He, CNN China reported a record trade surplus for 2022, as its key export sector delivered robust growth for most of last year, providing much-needed support for the world’s second largest economy that’s hammered by its zero-Covid policy. But plunging shipments in December suggest exports are likely to struggle in early 2023 as
Continue Reading By Pierre Meilhan, CNN A Boeing 737 Max 8 took off in China on Friday, for the first time since the government grounded all 737 Max 8 planes in 2019, according to the flight tracking website, Flightradar24. In March 2019, Chinese aviation authorities instructed airlines in the country to ground all their Boeing 737 MAX
Continue Reading By Diksha Madhok, CNN Semiconductor giant Taiwan Semiconductor Manufacturing Company (TSMC) may expand its global manufacturing footprint even further. The company is considering opening its first plant in Europe and a second one in Japan, its CEO CC Wei said in an earnings call on Thursday. TSMC, which produces an estimated 90% of the world’s
Continue Reading By Juliana Liu, CNN Corporate workers at Starbucks must return to the office at least three days a week by the end of January, interim CEO Howard Schultz announced in a Wednesday memo, as another corporate giant clamps down on remote work. Employees within commuting distance of the company’s Seattle headquarters will be required to
Continue Reading By Mark Morales, CNN New York City Mayor Eric Adams unveiled the state of the city’s economic outlook as part of a $102.7 billion budget proposal for 2024 on Thursday, highlighting slow economic growth despite spikes in tourism and jobs. Adams touted investments that will be made into public safety and affordable housing while promoting
Continue Reading By Alicia Wallace, CNN Eggs, milk, butter, flour … if you were making pancakes last year, it would have cost you. Food prices surged in 2022. Grocery prices remain stubbornly high (and nearly double the rate of overall inflation) at 11.8% year over year, according to data released Thursday by the Bureau of Labor Statistics.
Continue Reading By Jeanne Sahadi, CNN The IRS will start accepting 2022 federal income tax returns on January 23, the tax agency announced on Thursday. Of course, you don’t have to file your return that early. The official due date for returns this year will be Tuesday, April 18, the agency announced. That’s because April 15 —
Continue Reading By Jordan Valinsky, CNN Business HBO Max, which debuted in May 2020, is getting its first-ever price hike. Effective immediately, the ad-free HBO Max plan will be $15.99 per month — an increase of $1. That’s 50 cents more than Netflix’s standard plan, which costs $15.49 per month. HBO Max with ads, which launched in
Continue Reading By Alicia Wallace, CNN The US government recorded a deficit of $85 billion in December, bringing the total deficit to nearly $1.42 trillion for the 2022 calendar year, the Treasury Department reported Thursday. The government, which runs on a fiscal year that starts in October, is running a deficit of $421.41 billion for its fiscal
Continue Reading By Brian Fung, CNN An unfavorable ruling against Google in a closely watched Supreme Court case this term about YouTube’s recommendation engine could have sweeping unintended consequences for much of the wider internet, the search giant argued in a legal filing Thursday. Google, which owns YouTube, is fighting a high-stakes court battle over whether algorithmically
Continue Reading By Alicia Wallace, CNN The US government recorded a deficit of $85 billion in December, bringing the total deficit to nearly $1.42 trillion for the 2022 calendar year, the Treasury Department reported Thursday. The government, which runs on a fiscal year that starts in October, is running a deficit of $421.41 billion for its fiscal
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Experian analyzed how credit card usage has changed in different regions of the U.S. in relation to the increasing cost of goods and services.
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The General curated a list of why car insurance rates are inevitably rising in 2023.
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For the last 12 months, Adams Publishing Group’s journalists from across the country collected local grocery price data, spoke with American consumers about how they’re navigating the high tide of inflation, and heard from economists on when the price pressures might subside. Here are some of their stories.
Continue Reading By Laura Paddison, CNN ExxonMobil’s own scientists accurately predicted future global warming in reports dating back to the late 1970s and early 1980s, despite the company publicly continuing for years to cast doubt on climate science and lobby against climate action, according to a new analysis. Researchers examined climate projections produced between 1977 and 2003
Continue Reading By Jeanne Sahadi, CNN The pandemic has transformed work over the past three years in ways few expected. It normalized remote work, created a shortage of critical workers and drove home to organizations that employees’ mental health and need for a sane work-life balance are critical to retention and engagement. So what does 2023 likely
Continue Reading By Anna Bahney, CNN Mortgage rates inched down last week, after a slight increase the week before. The 30-year fixed-rate mortgage averaged 6.33% in the week ending January 12, down from 6.48% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.45%. “While mortgage rates have resumed their decline,
Continue Reading By Pete Muntean, CNN The Federal Aviation Administration software that failed Wednesday causing thousands of flight delays and cancellations is 30 years old and at least six years away from being updated, a government source familiar with the situation tells CNN. The FAA also now says “personnel who failed to follow procedures” caused the computer
Continue Reading By Pete Muntean, CNN The Federal Aviation Administration software that failed Wednesday causing thousands of flight delays and cancellations is 30 years old and at least six years away from being updated, a government source familiar with the situation tells CNN. The FAA also now says “personnel who failed to follow procedures” caused the computer
Continue Reading By Nathaniel Meyersohn, CNN Walmart will eliminate single-use paper and plastic carryout bags at the register from stores in New York, Connecticut and Colorado this month. The company previously stopped giving out single-use plastic bags in New York and Connecticut and in some areas in Colorado. Walmart offers reusable shopping bags starting at 74 cents
Continue Reading By Alicia Wallace, CNN For the first time in nearly three years, inflation fell on a monthly basis. Consumer prices decreased by 0.1% in December, the Bureau of Labor Statistics reported Thursday in its Consumer Price Index. The last time prices were lower than the previous month was May 2020. The closely watched inflation gauge
Continue Reading By Parija Kavilanz, CNN Business Mattel is giving preschoolers a new age-appropriate Barbie doll that it says is better suited for their needs. The doll, called “My First Barbie,” is specifically created for kids three years old and older, said Lisa McKnight, executive vice president and global head of Barbie and dolls for Mattel. The
Continue Reading By Nicole Goodkind, CNN The US auto industry just posted its worst sales in more than a decade — but that’s not necessarily a bad sign for the sector. What’s happening: 2022 was the worst year in more than a decade for the auto industry, largely because manufacturers couldn’t keep up with consumer demand. Supply
Continue Reading By Diksha Madhok, CNN Getting urgent work emails from colleagues even during vacation? This is a common occurrence for many white-collar workers, especially in India where employees feel overworked and underpaid compared to their global peers, according to several studies over the years. But one Mumbai-based firm has come up with a novel way to
Continue Reading By Samantha Murphy Kelly, CNN Business Over the years, Apple has added touchscreens to almost every computing device imaginable, from phones and tablets to smartwatches, but it has refrained from bringing the feature to its Mac product line — even as a long list of rivals did so with their laptops and desktops. In 2010,
Continue Reading By Allison Morrow, CNN Sam Bankman-Fried, the former crypto star turned alleged white-collar criminal, has spoken out for the first time since his arrest last month, publishing a lengthy blog post that appears to lay out his defense against fraud charges. “I didn’t steal funds, and I certainly didn’t stash billions away,” he writes in
Continue Reading By Jordan Valinsky, CNN Business Subway, one of the world’s most recognizable fast food brands, might be up for a sale, according to the Wall Street Journal. The privately held company has obtained advisers to explore sale that could value Subway at more than $10 billion, the Wall Street Journal reported. If reached, it would
Continue Reading By Chris Boyette and Artemis Moshtaghian, CNN A nurses strike at two private New York City hospital systems has come to an end after 7,000 nurses spent three days on the picket line. The New York State Nurses Association union reached tentative deals with Mount Sinai Health System and Montefiore Health System, which operates three
Continue Reading By Michelle Toh, Sandi Sidhu and Marc Stewart, CNN Kiki Yang brought an empty green suitcase from Shenzhen to Hong Kong this week to load up on new purchases for her family and friends. “I did a lot of shopping these days,” she told CNN on Tuesday, gesturing to her luggage, which she described as
Continue Reading By Laura He, CNN China’s economy expanded by just 3% in 2022, far below the government’s own target, marking one of the worst performances in nearly half a century. Growth was impacted heavily by months of widespread Covid lockdowns and a historic downturn in the property market. Still, the number came in slightly better than
Continue Reading By Laura He, CNN A number of key provinces and cities in China have announced their growth targets for this year, most of them above 5%, offering the first clues about the country’s economic path in 2023. Local governments across China began to convene this week for annual legislative sessions laying out their respective policy
Continue Reading By Kristen Holmes, CNN Former President Trump’s campaign sent a letter to Facebook’s parent company, Meta, Tuesday petitioning them to unblock his Facebook account, a source familiar with the letter tells CNN. NBC first reported the news. Trump’s Facebook and Twitter accounts were blocked following the January 6, 2021, attack on the US Capitol. Facebook
Continue Reading Story by Donie O’Sullivan, Clare Duffy, Kristen Holmes, Gabby Orr and Brian Fung Video by Zach Wasser and John General Facebook-parent Meta is preparing to announce one of the most consequential decisions in the company’s history, a landmark move that will set a precedent for online speech and could affect the course of the 2024
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The IRS will start collecting business tax returns on Thursday.
Continue Reading By Tami Luhby and Celina Tebor, CNN The law firm for a union representing licensed practical nurses (LPNs) in New York City sent a cease-and-desist letter to Montefiore Medical Center alleging the health care system involuntarily redeployed LPNs to replace striking nurses in violation of their collective bargaining agreement. In a letter sent Tuesday to
Continue Reading By David Goldman, CNN The Walt Disney Company has named Nike executive chairman Mark Parker as its new board chair, replacing longtime director Susan Arnold, whose term limit is expiring. Parker, a Disney board member since 2016, takes over Disney’s board at a time of transition for America’s largest media company. Bob Iger recently returned
Continue Reading By Matt Egan, CNN BlackRock, the world’s largest asset manager, is cutting about 500 jobs following a period of rapid hiring. A spokesperson for BlackRock told CNN on Wednesday that the layoffs amount to less than 3% of the company’s workforce. BlackRock, a leader on Wall Street, has been on a major hiring spree in
Continue Reading By Oliver Darcy, CNN Business CNN on Wednesday announced a revamped dayside programming lineup that the network said will employ a new format for shows to deliver the news to viewers. The cable news channel — which has been led since last spring by a new chairman and chief executive, Chris Licht — said in
Continue Reading By Clare Duffy, CNN A law firm representing dozens of former UK Twitter employees is accusing the company of “unlawful, unfair and completely unacceptable treatment” of workers following recent mass layoffs, which the firm referred to as a “sham redundancy process.” In a letter sent to the company on Monday, law firm Winckworth Sherwood alleged
Continue Reading By Matt Egan The federal government isn’t going to take away your gas stove, a top consumer regulator told CNN on Wednesday. Richard Trumka Jr, a US Consumer Product Safety commissioner, set off a firestorm this week by suggesting the agency could ban gas stoves because they have been linked to childhood asthma. Trumka confirmed
Continue Reading By Oliver Darcy, CNN Business NBC News president Noah Oppenheim will exit the network as part of a restructuring announced Wednesday that will replace his role with three executives, including Rebecca Blumenstein, a deputy managing editor of The New York Times. Blumenstein, who has a lengthy history working in print and digital, but notably lacks
Continue Reading By Matt Egan The federal government isn’t going to take away your gas stove, a top consumer regulator told CNN on Wednesday. Richard Trumka Jr, a US Consumer Product Safety commissioner, set off a firestorm this week by suggesting the agency could ban gas stoves because they have been linked to childhood asthma. Trumka confirmed
Continue Reading By Brian Fung, CNN President Joe Biden called on members of Congress Wednesday to set aside partisan differences and pass groundbreaking legislation to rein in Big Tech, focusing on digital privacy, antitrust and the industry’s liability shield, Section 230 of the Communications Decency Act. In a Wall Street Journal op-ed, Biden said that despite making
Continue Reading By Catherine Thorbecke, CNN Workers at Apple’s first unionized retail store began collectively bargaining with management on Wednesday, in a milestone moment not only for the iPhone company but for all of Big Tech. Apple store workers in Towson, Maryland, who made history in June by voting to form the first union at one of
Continue Reading By Anna Cooban, CNN Gold is shining once again, as investors bet that cooling inflation in the United States will slow the pace of Fed rate hikes and make the precious metal more attractive. Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce on Wednesday. Investors tend
Continue Reading By Paul R. La Monica, CNN Netflix had the kind of year in 2022 that only the ghoulishly morbid Wednesday Addams would love. But, now, in part due to a sagging dollar, the picture is getting brighter. Netflix shares plunged more than 50% last year due to concerns about streaming subscription fatigue, increased competition from
Continue Reading By Vanessa Yurkevich, CNN Jerome Yankey said he used to pull all-nighters when he was in college — not studying or partying, but scrolling on TikTok until the sun came up. “I saw me not putting the effort into my own life, rather just trying to live vicariously through what I’m seeing,” said 23-year old
Continue Reading By Brian Fung and Christopher Hickey, CNN More than half of all US states have partially or fully banned TikTok from government devices, according to a CNN analysis, reflecting a wave of recent clampdowns by governors and state agencies targeting the short-form video app. The accelerating backlash by states against TikTok, which has at least
Continue Reading By Aya Elamroussi, CNN The Mega Millions jackpot has reached an estimated $1.35 billion — the second-largest in the lottery’s history — after no winner snagged the big prize in Tuesday night’s drawing, officials said. That’s a boost from Tuesday’s jackpot of $1.1 billion, which saw no tickets match all six winning numbers of 7,
Continue Reading By Junko Ogura and Michelle Toh, CNN Japan has culled just under 10 million birds as it confronts a massive outbreak of avian flu, which is threatening to put further strain on poultry supply and increase the price of eggs. In a statement Tuesday, the agriculture ministry said 9.98 million animals had been killed this
Continue Reading By Nicole Goodkind, CNN Investors are holding their breath in anticipation of Thursday morning’s Consumer Price Index inflation report — arguably the most important piece of economic data so far this year. There’s a lot riding on the outcome — if inflation keeps falling, that could support a market rally, while higher-than-expected inflation could send
Continue Reading By Allison Morrow, CNN FTX officials overseeing its bankruptcy have recovered more than $5 billion in cash and other liquid assets that may be used to help repay creditors, a lawyer for the failed crypto firm said during a bankruptcy court hearing Wednesday. That disclosure significantly raises the estimated amount of funds FTX claims to
Continue Reading By Julia Horowitz, CNN Business executives, politicians and academics are bracing for a gloomy world battered by intersecting crises, as rising volatility and depleted resilience boost the odds of painful simultaneous shocks. In its annual survey of risks published Wednesday, the World Economic Forum found that more than 80% of respondents expected either “persistent crises”
Continue Reading By Jordan Valinsky, CNN Business Netflix will air a live awards show for the first time, marking the streamer’s latest expansion into live programming and further cementing its influence in Hollywood. Beginning in 2024, the Screen Actors Guild Awards will be live-streamed globally on Netflix as part of a new, multi-year partnership. The awards show
Continue Reading By Chris Isidore, CNN Business A critical Federal Aviation Administration computer system that experienced an outage Wednesday and briefly halted all US flights provides airlines with a digital bulletin board of crucial safety updates. The system is known as the Notice to Air Missions or NOTAM. It send alerts to pilots to let them know
Continue Reading By Chris Isidore, CNN Business A critical Federal Aviation Administration computer system that experienced an outage Wednesday and briefly halted all US flights provides airlines with a digital bulletin board of crucial safety updates. The system is known as the Notice to Air Missions or NOTAM. It send alerts to pilots to let them know
Continue Reading By Chris Isidore, CNN Naniaka Camara grew up near Montefiore Hospital in the Bronx in New York and remembers going there for her own medical care. A Montefiore nurse for the past three years, she still lives only minutes from the hospital and often knows the patients from her neighborhood she cares for. She loves
Continue Reading By Jordan Valinsky, CNN Business Pepsi is reaching for the stars in its latest effort to take on Sprite. Starry, a new lemon-lime soda, is rolling out to grocery and convenience stores this week. It’s replacing Sierra Mist, a 24-year-old brand that has failed to gain traction against market leader Sprite, which is owned by
Continue Reading By Brian Fung, CNN After years of hearings, reports and stalled proposals, Congress ended 2022 without taking major steps to regulate Big Tech. But a few blocks away in Washington, Jonathan Kanter is just getting warmed up. While the Justice Department’s top antitrust official has yet to file fresh lawsuits against any of the country’s
Continue Reading By Rob McLean, CNN Four days after her disgraced father returned to WWE’s board, the wrestling company’s co-CEO and chairwoman Stephanie McMahon resigned from the company. “I cannot put into words how proud I am to have helped lead what I consider to be the greatest company in the world and I am confident WWE
Continue Reading By Michelle Toh, CNN Fast Retailing, the Japanese giant that owns popular clothing brands Uniqlo and Theory, will start paying its employees much more this year. The company announced Wednesday that it would boost salaries in Japan by up to 40%, acknowledging that “remuneration levels have remained low” in the country in recent years. “This
Continue Reading By Oliver Darcy, CNN C-SPAN isn’t packing up its cameras quietly. The public affairs network on Tuesday sent a letter to new House Speaker Kevin McCarthy asking for permission to operate its own independent cameras in the House chamber. “Allow C-SPAN to cover House floor proceedings on behalf of our network and all Congressionally-accredited news
Continue Reading By Oliver Darcy, CNN C-SPAN isn’t packing up its cameras quietly. The public affairs network on Tuesday sent a letter to new House Speaker Kevin McCarthy asking for permission to operate its own independent cameras in the House chamber. “Allow C-SPAN to cover House floor proceedings on behalf of our network and all Congressionally-accredited news
Continue Reading By Jackie Wattles, CNN A rocket operated by a California-based start-up failed near the coast of Alaska Tuesday, marking yet another mishap for companies hoping to offer their services to launch scores of small satellites into orbit. The privately held ABL Space Systems attempted to launch its RS1 rocket at 1:27 p.m. local time (5:27
Continue Reading By Matt Egan, CNN Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. The scandal-ridden bank announced a significant shift on Tuesday to focus its mortgage business on serving bank customers and minority homebuyers instead of acquiring new customers. Wells Fargo said it will also exit
Continue Reading By Celina Tebor, CNN Lora Ribas hasn’t left her son’s bedside in four days. Her one-year-old baby, Logan, has been in the neonatal intensive care unit (NICU) since he was born. For the past three and a half months, he’s been under the care of Mount Sinai Hospital where thousands of nurses are currently striking.
Continue Reading By Nicole Goodkind, CNN Federal Reserve Chairman Jerome Powell made his first public appearance of the year on Tuesday, stressing the importance of central bank independence and his commitment to bringing down inflation. The painful rate hikes the Fed is implementing to tackle high prices don’t make officials particularly popular, Powell said during a panel
Continue Reading By Allison Morrow, CNN Less than a year after Tom Brady and Gisele Bundchen appeared in a series of Super Bowl ads for FTX, the former couple have emerged as some of the biggest equity holders in the now-bankrupt enterprise. Brady owns 1.1 million common shares of FTX, while Bundchen owns 686,000 shares, according to
Continue Reading By Jordan Valinsky, CNN Pizza Hut is bringing back a fan favorite after a nearly 25-year hiatus. Beginning February 1, the “Big New Yorker” is once again hitting menus nationwide for a limited time. Despite it being sold for a brief time in 1999, the extra large pizza quickly became a favorite, and fans have
Continue Reading By Anna Cooban, CNN Stocks in Asia are starting 2023 in a bull market. Investors have been cheered by China’s pivot away from its zero-Covid policy, the ending of its crackdown on tech companies and Beijing’s renewed commitment to growing the world’s second biggest economy. The MSCI Asia Pacific index, which excludes Japanese companies, jumped
Continue Reading By Nathaniel Meyersohn, CNN Business Abercrombie & Fitch has shed its perfume-filled mall stores, shirtless models and logo sweatshirts to win over Millennials and Gen Z. It’s working. Abercrombie said Monday that its women’s segment was on track to deliver its highest holiday sales period ever, and its men’s division was growing, too. The company
Continue Reading By Jordan Valinsky, CNN M&M’S is making a statement with its latest candy pack, which features an all-female set of characters — including Purple, its newest addition. It put the company once again knee-deep into culture wars controversy. Candy maker Mars announced that the limited edition all-female pack will include only Purple, Brown and Green
Continue Reading By Matt Egan In a positive sign for inflation-weary consumers, online prices dropped in December as retailers resorted to deep discounts to lure shoppers, according to a Tuesday report from Adobe Analytics. Adobe said e-commerce prices were 1.6% lower than the year before, marking the fourth consecutive month of annual price declines. For many years,
Continue Reading By Nathaniel Meyersohn, CNN Business Bed Bath & Beyond lost a third of its sales during the holiday run-up and is running out of options to avoid bankruptcy. The retailer said Tuesday that net sales fell 33%, to $1.3 billion, during its latest quarter ending November 26 compared with the same stretch a year ago.
Continue Reading By Paul R. La Monica, CNN Business The crypto winter is apparently not over yet. Coinbase announced Tuesday that it was laying off 950 people, about 20% of its staff. The job cuts come only a few months after another major round of layoffs. The crypto brokerage firm let 1,100 people go in June, about
Continue Reading By Jordan Valinsky, CNN Business Disney CEO Bob Iger is clamping down on remote workers. Iger, who recently returned to Disney’s helm after a brief hiatus, ordered employees to return to corporate offices four days a week beginning March 1. In an email sent to employees obtained by CNN, he said that employees work better
Continue Reading By Elizabeth Wolfe and Aya Elamroussi, CNN The winning numbers for Tuesday night’s $1.1 billion Mega Millions jackpot drawing were 7, 13, 14, 15, 18 with a Mega Ball of 9, the lottery said on its website. The jackpot grew to top the billion-dollar mark after no ticket matched all winning numbers over roughly the
Continue Reading By Kathleen Magramo, CNN From salads to stews, the humble onion is a key ingredient in nearly every Filipino dish. But now, the vegetable costs almost three times more than chicken in the Philippines. Red and white onions were selling for as much as 600 Philippine pesos ($11) per kilogram (2.2 lbs) on Monday, compared
Continue Reading By Rob McLean, CNN Fisher-Price for a second time recalled its Rock ‘n Play Sleepers on Monday after at least eight infant deaths occurred after the initial 2019 recall, according to the Consumer Product Safety Commission. “On April 12, 2019, at the time the original recall was announced, over 30 fatalities were reported to have
Continue Reading By Peter Valdes-Dapena, CNN Business Despite broad concerns about the economy and fears of an impending recession, the ultra-wealthy seem to be doing just fine. Rolls-Royce, Bentley and Lamborghini, car brands that cater to billionaires, had record sales again last year. In fact, it was the third record year in a row for Bentley and
Continue Reading By Hanna Ziady and Joseph Ataman, CNN The French government is planning to raise the official retirement age by two years as part of a long-delayed reform to the country’s pension system that prompted labor unions to call for nationwide strikes next week. New legislation will require French citizens to work until 64, from 62
Continue Reading By Donie O’Sullivan, CNN Elon Musk’s Twitter has restored the accounts of two prominent election deniers who were banned from the platform following the January 6, 2021 attack on the US Capitol. “Stop the Steal” organizer Ali Alexander’s account was restored on Monday. Alexander assumed a leadership role in the movement that discredited the 2020
Continue Reading By Julia Horowitz, CNN The global economy is just one more knock away from a second recession in the same decade, something that hasn’t happened in more than 80 years. That’s the latest warning from the World Bank, which on Tuesday sharply lowered its forecast for global economic growth. The group now projects that the
Continue Reading By Jordan Valinsky, CNN Business Molson Coors is typically known for its lineup of beers and booze, but its newest drink isn’t either. Enter “Roxie,” the company’s first-ever zero-proof canned cocktail sold exclusively online beginning Tuesday. Its arrival comes as Molson Coors broadens its portfolio beyond beer and expands into new growth categories that are
Continue Reading By Nicole Goodkind, CNN There are two certainties in today’s market: The tech sector has been beaten down and interest rates are higher. And while analysts widely anticipate an easing in the Fed’s rate hikes this year, institutional investors are increasingly using a dangerous tactic to take advantage of market falls. That shift could be
Continue Reading By Nicole Goodkind, CNN Federal Reserve Chairman Jerome Powell made his first public appearance of the year on Tuesday, stressing the importance of central bank independence and his commitment to bringing down inflation. The painful rate hikes the Fed is implementing to tackle high prices don’t make officials particularly popular, Powell said during a panel
Continue Reading By Laura He, CNN Galactic Energy, a rocket startup in China, launched five satellites into orbit on Monday, boosting the private company’s ambition to become the Chinese rival to SpaceX. Galactic Energy’s Ceres-1 rocket lifted off Monday from the Jiuquan Satellite Launch Center in northwestern China, sending five commercial satellites into their intended orbits, the
Continue Reading By Alicia Wallace, CNN US consumers’ credit-hungry approach to spending continued in November, with borrowing rising by nearly $28 billion, according to Federal Reserve data released Monday. The monthly increase, which was driven by higher rates of revolving credit, was below the $29.12 billion jump seen in October but extends a historic stretch of reliance
Continue Reading By Ramishah Maruf, CNN A federal agency is considering a ban on gas stoves, a source of indoor pollution linked to childhood asthma. Richard Trumka Jr., a US Consumer Product Safety commissioner, set off a firestorm this week by saying in an interview with Bloomberg that gas stoves posed a “hidden hazard” and suggested the
Continue Reading By Clare Duffy, CNN After months of uncertainty and feeling left in the dark, many former Twitter employees impacted by a mass layoff in early November began receiving their severance offers over the weekend. But some are frustrated by the offer and the conditions attached to it. The severance offer promises one month’s pay in
Continue Reading By Chris Isidore, CNN The 7,000 nurses who went on strike in New York Monday say the 19% pay hike that hospital management offered them was never the main issue. “We are not out here for wages. We are out here because we want the patients’ safety,” said Lorena Vivas, a nurse at Mount Sinai
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