Category Archives: CNN – Business

Exclusive: JPMorgan is calling for reforms to stop racial bias in housing

JPMorgan Chase is throwing its considerable weight behind efforts to root out racial bias in the appraisal of homes in America. As part of a new bank-wide commitment to fight housing inequality, JPMorgan is for the first time outlining specific legislation that can fight appraisal bias, backing the study of innovative ways to value homes…MORE

US officials propose $25 million fine against Air Canada over airfare refunds

US officials propose $25 million fine against Air Canada over airfare refunds

US officials are seeking a $25 million fine from Air Canada, accusing the airline of failing to provide timely refunds to more than 5,000 passengers during the coronavirus pandemic. The formal complaint is the first enforcement action that the Department of Transportation has announced against an airline since the pandemic upended the travel industry in…MORE

Biden names Lina Khan as FTC chair

Biden names Lina Khan as FTC chair

Big Tech critic Lina Khan will chair the Federal Trade Commission, the powerful antitrust agency that’s targeted companies such as Facebook with fines and lawsuits, according to a White House spokesperson. Khan had been confirmed as a commissioner to the FTC earlier on Tuesday, in a 69-28 Senate vote. But her future as agency chair…MORE

Space X likely to miss July date for Mars rocket test

Space X likely to miss July date for Mars rocket test

SpaceX has been targeting July for the first orbital flight of its gargantuan Starship system, which will be the most powerful launch vehicle ever created — and, the company hopes, will eventually take humans to Mars. But the company is not likely to hit that goal, CNN Business has learned. SpaceX’s Starship launch operations are…MORE

MacKenzie Scott is giving away another $2.74 billion

MacKenzie Scott is giving away another $2.74 billion

MacKenzie Scott, one of the richest women in the world, and her husband Dan Jewett, donated $2.74 billion to organizations that focus on the arts and combating racial discrimination. The settlement from Scott’s 2019 divorce from her previous husband, Amazon CEO Jeff Bezos, made her one of the richest people in the world. She and…MORE

He has 7 million TikTok followers. Now he’s launching his own skincare line

He has 7 million TikTok followers. Now he’s launching his own skincare line

Hyram Yarbro already helped make one skincare brand popular with Gen-Z. Now, Sephora is betting he can do it with his own. Yarbro, who has a nearly cult-like following on TikTok for his reviews of popular beauty products, will launch his own skincare line — Selfless by Hyram — exclusively online and in Sephora stores…MORE

CEOs signal stronger hiring plans than after the Trump tax cuts

CEOs signal stronger hiring plans than after the Trump tax cuts

Corporate America wants to hire workers aggressively as the US economy races back to life following the pandemic. The Business Roundtable, an influential lobbying group comprised of top US executives, said Wednesday that its CEO economic outlook index has climbed to the second-highest level on record, behind only early 2018 when the Trump tax cuts…MORE

No TikTok deal is no problem for red-hot software giant Oracle

No TikTok deal is no problem for red-hot software giant Oracle

Who needs viral videos? Not Oracle, apparently. Oracle’s plan to buy the US assets of Chinese-owned TikTok in a partnership with Walmart is dead now that Donald Trump is out of the White House. But investors don’t seem concerned: They’re still treating Oracle like it’s a red-hot social media stock instead of a boring database…MORE

DraftKings tumbles after research firm alleges black market ties

DraftKings tumbles after research firm alleges black market ties

Shares of sports betting giant DraftKings tumbled in early trading Tuesday after a prominent research firm accused the company of hiding alleged ties to illegal gaming operations. Hindenburg Research claimed in a lengthy report that SBTech, a firm that DraftKings merged with when it went public last year, “brings exposure to extensive dealings in black-market…MORE

IKEA fined $1 million for spying on workers in France

IKEA fined $1 million for spying on workers in France

A French court has ordered IKEA to pay a €1 million ($1.2 million) fine after finding the Swedish retailer guilty of improperly using employee data. The judgment was announced Tuesday by a court in Versailles. The French subsidiary of IKEA was on trial alongside 15 people including former executives over an alleged “spying system” deployed…MORE