CNN Business — Ramesh “Sunny” Balwani, the former chief operating officer of failed blood testing startup Theranos, is set to be sentenced on Wednesday for fraud, marking an end to the stunning downfall of a high-flying Silicon Valley company that resulted in the rare convictions of two tech executives. The sentencing comes weeks after Elizabeth […]
New York CNN Business — It’s time to sing a requiem for a meme. Meme stocks, that is. Companies that attracted rabid followings from traders on Reddit and other social media sites in 2021 are struggling. Just look at GameStop. Shares of the video game retailer, which will report its latest results after the closing […]
New York CNN Business — The US trade gap edged only slightly higher in October than the month before, to $78.2 billion. The latest reading was up just 5.4%, less than half the pace of increase from the revised September reading, when the trade deficit jumped by 12.7% to $74.1 billion. A strong dollar and […]
London CNN Business — Indonesia produces more nickel than any other country. As demand soars for batteries to power the energy transition, that presents a huge opportunity, and the archipelago nation of 276 million people intends to take advantage of it. With the electric vehicle revolution driving up demand for key battery metals such as […]
London CNN Business — Most Russian crude oil exports to Europe are now banned, marking the boldest effort yet by the West to pile financial pressure on President Vladimir Putin as his brutal war in Ukraine enters its tenth month. The oil embargo, which was agreed upon in late May, took effect in the European […]
Hong Kong CNN Business — Global traders are increasingly feeling more bullish on China, as they bet the country will gradually unwind Covid restrictions following widespread protests. Multiple cities across China loosened Covid-19 restrictions over the weekend. Starting Monday, Shanghai residents will no longer require a negative Covid test result to enter outdoor venues including […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — The meltdown of FTX has sent the price of bitcoin and other cryptocurrencies tumbling more than 60% this year…and the carnage has spread to publicly traded companies with […]
London CNN Business — The European Union has reached a consensus on the price at which to cap Russian oil just days before its ban on most imports comes into force. News of the deal, which had needed approval from holdout Poland, was confirmed on Twitter by the president of the European Commission, Ursula von […]
New York CNN — Prices at the pump continue to plunge, dropping the US average for gasoline below where it was when Russia invaded Ukraine. A gallon of regular gas now fetches $3.47 nationally, according to AAA. That is below the $3.54 average on February 24, the day Russia invaded Ukraine. That is down about […]
Editor’s Note: Sign up for CNN’s Adulthood, But Better newsletter series. Our seven-part guide has tips to help you make more informed decisions around personal finance, career, wellness and personal connections. You know you have to pay taxes. So you may not be eager to spend yet more money to work with a tax professional. […]