RECALL ROUNDUP: Hyundai Genesis vehicles and 3M noise-reducing earmuffs recalled
The Consumer Product Safety Commission has recalled about 40,000 noise-reducing earmuffs made by 3M.
Continue ReadingThe Consumer Product Safety Commission has recalled about 40,000 noise-reducing earmuffs made by 3M.
Continue ReadingBy Elisabeth Buchwald, CNN New York (CNN) — For the past few years, the US economy has been growing at a pace that seemed too good to be true. So, at first glance, Thursday’s gross domestic product report showing the US economy grew at an annualized rate of 1.6% in the first quarter of this
Continue ReadingBy Clare Duffy, Catherine Thorbecke and Samantha Murphy Kelly, CNN New York (CNN) — Alphabet, the parent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell. All it had to do was to hand out billions of dollars to investors. The tech
Continue ReadingBy Jeanne Sahadi, CNN New York (CNN) — Less than 24 hours after the Federal Trade Commission issued a final rule this week banning employers from using noncompete agreements in the United States, the US Chamber of Commerce and the Business Roundtable filed a lawsuit against the agency in federal court in the Eastern District
Continue ReadingBy Nathaniel Meyersohn, CNN New York (CNN) — When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees. Now, some of her own students and professors, as well as the speaker of the House of Representatives, are calling on her
Continue ReadingBy Brian Fung, CNN Washington (CNN) — TikTok said Wednesday it would suspend a controversial program in the European Union that has prompted growing alarm among EU regulators. The program at issue appears within TikTok Lite, a less data-intensive version of TikTok’s main app, and which contains a feature that rewards users with cash for
Continue ReadingBy Brian Fung, CNN Washington (CNN) — The US government on Thursday banned internet service providers (ISPs) from meddling in the speeds their customers receive when browsing the web and downloading files, restoring tough rules rescinded during the Trump administration and setting the stage for a major legal battle with the broadband industry. The net
Continue ReadingBy Alicia Wallace, CNN (CNN) — Despite a weaker-than-expected first-quarter GDP reading, the US economy is “firing on all cylinders” and inflation is on a path toward a more normal level, US Treasury Secretary Janet Yellen said Thursday in an interview with Reuters. Yellen on Thursday was interviewed by Reuters’ editor in chief Alessandra Galloni
Continue ReadingBy Bryan Mena, CNN Washington (CNN) — Home sales based on contract signings unexpectedly jumped in March despite elevated mortgage rates that month. And the latest data from Freddie Mac showed that mortgage rates edged higher this week, reaching a fresh five-month high. Pending home sales — a forward-looking indicator based on contract signings rather
Continue ReadingBy Nicole Goodkind, CNN New York (CNN) — US stocks closed lower Thursday after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected. The Dow fell by 375 points, or 1%; the S&P 500 was down 0.5% and the
Continue ReadingBy Chris Isidore, CNN New York (CNN) — Southwest Airlines announced Thursday it will stop serving four airports after reporting increased losses in the first quarter and more delays in the delivery of promised jets from Boeing. The four airports are Bellingham International Airport in Washington state, Cozumel International Airport in Mexico, Syracuse Hancock International Airport
Continue ReadingBy Bryan Mena, CNN Washington (CNN) — The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates, but the Federal Reserve has made it clear it’s in no
Continue ReadingBy Peter Valdes-Dapena, CNN (CNN) — In its earliest days Buick had a reputation for engineering innovation and raw speed. Swiss-born race driver Louis Chevrolet made his name, in part, driving Buicks on race tracks around the country. In the 21st Century, though, Buick, which celebrates its 125th anniversary this year, has been a quiet
Continue ReadingBy Anna Cooban, CNN London (CNN) — Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record. BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion)
Continue ReadingBy Brian Fung, CNN (CNN) — The clock has begun ticking for TikTok to find a new owner. President Joe Biden signed legislation Wednesday that would ban TikTok in the United States unless its Chinese parent, ByteDance, sells the app. TikTok plans to challenge the law in court, but if it fails, the company would
Continue ReadingBy Hanna Ziady, CNN London (CNN) — Shares in Meta plunged Thursday, as the Facebook owner’s plans to “invest aggressively” in artificial intelligence spooked investors. The stock fell as much as 15% to $421.40 when the Nasdaq opened, wiping $183 billion off its market value. The selloff, which started in after-hours trade Wednesday, came as
Continue ReadingBy Hanako Montgomery and Helen Regan, CNN Tokyo/Hong Kong (CNN) — Mitsuko Tottori admits Japan has much more to do to get people like her into the chief executive seat. Tottori was named as the first female president and chief executive of Japan Airlines (JAL) in January, crowning a career that began nearly 40 years
Continue ReadingBy Hadas Gold, CNN (CNN) — TikTok’s expected legal challenge to a law signed Wednesday by President Joe Biden forcing the popular app’s parent company to spin off its US operations could be a seminal moment in First Amendment law in what is shaping up to be a year of defining cases. The new law gives TikTok’s parent company
Continue ReadingBy Oliver Darcy and Marshall Cohen, CNN (CNN) — The Gateway Pundit, the notorious far-right blog and prolific publisher of conspiracy theories, said Wednesday that it had filed for bankruptcy protection as it grapples with litigation related to its coverage of the 2020 election. The move comes as the staunchly pro-Donald Trump website, which promoted the false notion that
Continue ReadingBy Chris Isidore, CNN New York (CNN) — Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall. Ford, like most automakers, has
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