economy and trade

Elon Musk is no longer the richest man on the planet, according to Forbes

New York CNN Business — Elon Musk is no longer the world’s richest person, according to Forbes. On Thursday, Musk dropped to the second spot on Forbes’ list of “Real-Time Billionaires,” putting the Twitter and Tesla CEO behind Bernard Arnault, CEO of French luxury brand LVMH, maker of Louis Vuitton luxury goods and Hennessy cognac. …

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Jennifer Lawrence draws criticism over comments about female action heroes

CNN — Jennifer Lawrence shared her thoughts on the history of female-led action movies in a new interview, but the “Hunger Games” star is getting some flack for not quite getting it right. The Oscar winner spoke with fellow actress Viola Davis in an interview for Variety published on Wednesday, in which she mused on …

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US oil plunges below $75 for the first time since just before Christmas

New York CNN Business — Oil prices have tumbled to their lowest level of the year as worries about the health of the economy overshadow concerns about new restrictions imposed on Russian energy. The sharp drop in oil prices the past two days is mostly good news for consumers, signaling prices at the gas pump …

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Congress wants to grill Live Nation's CEO over the Taylor Swift Ticketmaster fiasco

Congress wants to grill Live Nation’s CEO over the Taylor Swift Ticketmaster fiasco

New York CNN Business — Congress wants answers from the CEO of Ticketmaster’s parent company after a ticketing snafu ahead of Taylor Swift’s Eras tour left millions of unhappy Swifties without the ability to see the singer-songwriter perform. In s letter addressed to Live Nation CEO Michael Rapino Tuesday, the House Energy and Commerce Committee …

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TSMC ups its Arizona chipmaking investment to $40 billion ahead of Biden’s visit

New York CNN Business — Taiwan Semiconductor Manufacturing Company is increasing its investment in the United States, announcing Tuesday that it is building a second semiconductor factory in Arizona and raising its investment there from $12 billion to $40 billion. The move marks one of the “largest foreign direct investments in the history of the …

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BuzzFeed slashes 12% of its workforce, citing ‘worsening macroeconomic conditions’

New York CNN Business — BuzzFeed on Tuesday said it would lay off approximately 12% of its staff, making the digital news and entertainment conglomerate the latest media company to make painful cuts amid a deteriorating economic climate. In a note to impacted employees, Jonah Peretti, the company’s founder and chief executive, blamed the cuts …

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Biden’s climate plan strains trade ties with Europe

London CNN Business — The world’s biggest economic relationship has hit a rough patch. The European Union and United States — together responsible for one third of global trade — have been at loggerheads in recent weeks over US President Joe Biden’s landmark $370 billion climate plan. The Inflation Reduction Act (IRA), which passed Congress …

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