CNN — It is a moment that for many observers has come to define strongman leader Xi Jinping’s tightening grip on China: his visibly frail predecessor, Hu Jintao, being escorted out of a key Communist Party meeting during a five-yearly leadership reshuffle – apparently at Xi’s behest. Images of two men ushering the 79-year-old from […]
New York CNN Business — Apple beat Wall Street analysts’ sales and income expectations for the quarter ended in September, despite an otherwise bruising earnings season for tech companies and worries that demand for the newest iPhones might have been weaker-than-expected. The tech giant posted sales of just over $90 billion during its fiscal fourth […]
CNN — N. R. Narayana Murthy, one of India’s richest people, had mixed feelings when he first heard about the man who would become his son-in-law. “I, too, was a little sad and jealous when you told us you had found your life partner,” he wrote to his daughter Akshata Murty in a letter, published […]
Washington CNN Business — The Federal Trade Commission is seeking tough new restrictions against Drizly, the alcoholic beverage delivery platform, after what US regulators allege were repeated security failures that compromised the data of 2.5 million people. The proposed order against Drizly, if finalized, would force the company to beef up its cybersecurity and limit […]
Hong Kong CNN Business — Hong Kong stocks had their worst day since the 2008 global financial crisis, just a day after Chinese leader Xi Jinping secured his iron grip on power at a major political gathering. Foreign investors spooked by the outcome of the Communist Party’s leadership reshuffle dumped Chinese equities and the yuan […]
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 housing market is rapidly losing steam. Interest rates continue to rise. The stock market remains volatile. And inflation continues to be a major problem for people trying […]
CNN — Snap’s bad year continues. Snap on Thursday reported revenue of $1.13 billion for the three months ending in September, a slight 6% increase from the year prior and less than Wall Street had expected, as the company confronts tightening advertiser budgets in an uncertain economy. In a letter to investors, Snapchat’s parent company […]
New York CNNBusiness — Billionaires are no match for the Twitterverse. Luxury goods mogul and LVMH CEO Bernard Arnault has dumped his private jet after Twitter users took to tracking his every plane trip to make an example of how the rich and their rarefied lifestyles are polluting the environment. Renault, 73, the world’s second-richest […]
New York CNN Business — Walmart announced Monday that its customers can for the first time buy over-the-counter hearing aids without a prescription and medical exam by a doctor. The move comes shortly after the US Food and Drug Administration announced a long-awaited rule change in August pertaining to hearing aids. Instead of getting a […]
CNN — A young woman stands on her balcony, crying out in desperation after her building was ordered into lockdown. Fighting back tears, she shouts abuse at the hazmat-suited workers below in a video that has recently gone viral on social media platform Weibo and which appears to encapsulate the Chinese public’s growing frustration with […]