Business

Couples cut wedding expenses as inflation and demand make walking down the aisle pricier

Couples cut wedding expenses as inflation and demand make walking down the aisle pricier

Nicole Brandfon and her fiance Adam Alonso are planning a wedding in Colombia, rather than Miami, because it was more affordable. Source: Nicole Brandfon Nicole Brandfon and her fiance, Adam Alonso, will hop on a plane from Florida to South America early next year for a destination wedding. The international trip wasn’t their original plan, but …

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Crude oil storage tanks stand at the oil refinery operated by Saudi Aramco in Ras Tanura, Saudi Arabia.

Why US politicians are trying to break the world’s oil cartel now

To become law, the bill has to go through the full Senate and House, then be signed by the President. White House spokeswoman Jen Psaki said the administration has concerns about the “potential implications and unintended consequences” of the legislation. She said the White House is still studying the bill. A CNN poll released Wednesday …

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Crude oil storage tanks stand at the oil refinery operated by Saudi Aramco in Ras Tanura, Saudi Arabia.

Why US politicians are trying to break the world’s oil cartel now

To become law, the bill has to go through the full Senate and House, then be signed by the President. White House spokeswoman Jen Psaki said the administration has concerns about the “potential implications and unintended consequences” of the legislation. She said the White House is still studying the bill. A CNN poll released Wednesday …

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Fed hikes interest rates the most since 2000. Here's the impact on your wallet.

Fed hikes interest rates the most since 2000. Here’s the impact on your wallet.

The Federal Reserve is turning to its most potent weapon to combat the highest inflation in 40 years: Boosting interest rates. On Wednesday, the central bank said it is increasing its benchmark short-term interest rate by 0.5%, marking the largest increase since 2000.  The Fed’s goal is to tamp down demand from consumers and businesses …

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JetBlue Airways faces a quarter-century crossroads after Spirit rejects its takeover offer

JetBlue Airways faces a quarter-century crossroads after Spirit rejects its takeover offer

A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images) Joe Cavaretta | Sun Sentinel | Getty Images JetBlue Airways is at a nearly quarter-century crossroads. The airline’s first flight took off from New …

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Solar energy projects are grinding to a halt in the US amid investigation into parts from China

Solar energy projects are grinding to a halt in the US amid investigation into parts from China

The fallout within the industry has been significant. The Commerce Department has defended it as a transparent and necessary process, but several solar industry experts and executives told CNN it has also essentially frozen most solar imports into the US because of the threat of steep, retroactive tariffs. “With this administration and this much support, …

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With Aduhelm in tatters, the search is on for Michel Vounatsos' replacement at Biogen; David Liu, Roger Perlmutter join insitro's SAB

With Aduhelm in tatters, the search is on for Michel Vounatsos’ replacement at Biogen; David Liu, Roger Perlmutter join insitro’s SAB

Michel Vounatsos → Be­cause of the dearth of Alzheimer’s treat­ments, Bio­gen pushed ag­gres­sive­ly to cross the reg­u­la­to­ry goal line with ad­u­canum­ab de­spite ear­ly tri­al wrap-ups and per­va­sive ef­fi­ca­cy ques­tions. The high­ly con­tro­ver­sial ap­proval of Aduhelm, and the calami­tous roll­out that fol­lowed, proved to be the un­do­ing of CEO Michel Vounatsos, who was hired from with­in …

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Shipping delays are back as China's lockdowns ripple around the world

Shipping delays are back as China’s lockdowns ripple around the world

Data from Project44, which tracks global supply chains, showed that shipment delays between China and major US and European ports have quadrupled since late March, when China shut down the city of Shanghai, which has the world’s busiest container port. By the end of April, ships from China to Seattle were taking four days longer …

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China Orders Government, State Firms to Dump Foreign PCs

China Orders Government, State Firms to Dump Foreign PCs

(Bloomberg) — China has ordered central government agencies and state-backed corporations to replace foreign-branded personal computers with domestic alternatives within two years, marking one of Beijing’s most aggressive efforts so far to eradicate key overseas technology from within its most sensitive organs. Most Read from Bloomberg Staff were asked after the week-long May break to …

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