economy and trade

Europe agrees to cap the price of Russian oil at $60 a barrel

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 …

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As respiratory viruses strain US health care systems, Biden administration tells states how it’s ready to help

CNN — Nearly 20,000 people in the United States were admitted to the hospital for flu last week, almost double the number of admissions from the week before, according to data updated Friday by the US Centers for Disease Control and Prevention. The CDC estimates that there have been at least 8.7 million illnesses, 78,000 …

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Europe agrees to cap the price of Russian oil at $60 a barrel

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 …

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Tesla delivers its first electric Semi trucks promising 500 miles of range

CNN Business — Tesla made the first deliveries of its Semi truck to customers Thursday evening, five years after the heavy-duty hauler was first unveiled. The event included two truck cabs decked out in the livery of Pepsi and Frito-Lay, PepsiCo’s snack foods subsidiary. The Tesla Semi was first shown as a prototype in 2017. …

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Pepsi wants you to drink soda mixed with milk this holiday season

New York CNN Business — ‘Tis the season to mix milk into your soda. According to Pepsi, anyway. Pepsi launched a campaign Thursday encouraging customers to try the combination and use the hashtag #PilkandCookies (as in Pepsi plus milk) to showcase their Santa-friendly concoctions. Those who participate in the online challenge running through Christmas Day …

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The number of available jobs in the US fell in October

Minneapolis CNN Business — The number of job openings in the United States dropped in October, but the labor market still remains historically tight despite the Federal Reserve’s efforts to cool demand and bring down inflation. There were 10.3 million available jobs last month, down from nearly 10.7 million in September, according to the latest …

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China’s Zhengzhou, home to the world’s largest iPhone factory, ends Covid lockdown

Hong Kong CNN Business — The central Chinese city of Zhengzhou, home to the world’s largest iPhone factory, has lifted a five-day Covid lockdown, in a move that analysts have called a much-needed relief for Apple and its main supplier Foxconn. Zhengzhou is the site of “iPhone City,” a sprawling manufacturing campus owned by Taiwanese …

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China’s Zhengzhou, home to the world’s largest iPhone factory, ends Covid lockdown

Hong Kong CNN Business — The central Chinese city of Zhengzhou, home to the world’s largest iPhone factory, has lifted a five-day Covid lockdown, in a move that analysts have called a much-needed relief for Apple and its main supplier Foxconn. Zhengzhou is the site of “iPhone City,” a sprawling manufacturing campus owned by Taiwanese …

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Kroger and Albertsons want to create a grocery empire. The last supermarket mega-merger backfired

New York CNN Business — When Christine Martinez found out last month that Kroger and Albertsons planned to merge in a deal worth nearly $25 billion, she thought, “here we go again.” Martinez lost her job as a pharmacy technician in the aftermath of a prior supermarket mega-merger: Albertsons’ $9 billion tie-up with Safeway in …

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Bank of America CEO predicts two years of pain ahead in the housing market

New York CNN Business — The CEO of one of the nation’s largest banks is preparing for an economic downturn in 2023. But he’s also hopeful that the likely recession will be brief and “mild.” Bank of America (BAC) CEO Brian Moynihan said in an exclusive interview with Poppy Harlow on “CNN This Morning” Tuesday …

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