Larry Page’s electric air taxi startup is winding down

CNN — Kittyhawk, the electric air taxi startup backed by Google co-founder Larry Page, announced Wednesday that it plans to “wind down” operations. “We have made the decision to wind down Kittyhawk. We’re still working on the details of what’s next,” the company wrote in a brief statement shared on its LinkedIn and twitter pages. … Read more

Why Jamie Dimon apologized to Elizabeth Warren

new York CNN Business — JPMorgan Chase CEO Jamie Dimon testified on Capitol Hill Thursday for the second straight day. This time, he faced his longtime critic Sen. Elizabeth Warren. Warren began her line of questioning by asking how many instances of fraud had been reported to his bank from customers using Zelle, a popular … Read more

Boeing agrees to pay $200 million for misleading the public about the 737 Max

new York CNN Business — Boeing and its former CEO Dennis Muilenburg agreed to pay hefty fines to settle charges from the Securities and Exchange Commission that they misled the public about the safety of the 737 Max following two fatal crashes in 2018 and 2019. The SEC alleges that, following an October 2018 crash … Read more

Indian tycoon Gautam Adani just booted Jeff Bezos as world’s second-richest person

new York CNN Business — Jeff Bezos just lost his status as the world’s second-richest person, dropping to No. 3 as Indian business mogul Gautam Adani rapidly climbs the ranks of Bloomberg’s Billionaire Index. Elon Musk, still the No. 1 wealthiest person with $260 billion to his name, may need to watch his back. Adani … Read more

The biggest loser in the Musk-Twitter saga is literally everyone involved

new York CNN Business — Editor’s Note: This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. If you spent last week ignoring news alerts about Elon Musk, like I did, you may be in need of a quick catch-up. So let’s dive in. The … Read more

What’s next for Twitter now that Elon Musk wants out?

new York CNN Business — After announcing he wants out of his deal to buy Twitter, Elon Musk spent the weekend in Idaho at the Sun Valley Conference. He spoke on stage, essentially off the record, but a source in the room told CNN’s media correspondent Brian Stelter that Musk tripled down on his decision … Read more

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

Editor’s Note: A version of this story first appeared in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Sign up here. Abu Dhabi, UAE CNN  —  A decades-old, failed effort by United States politicians to break the chokehold of a select few countries on the oil market has … Read more

Elon Musk’s next massive payday looms

new York CNN Business — Does the richest person on the planet need another massive pay package? That’s the decision facing the Tesla board of directors. CEO Elon Musk doesn’t receive any cash salary or bonus. He’s paid only with stock options. But he has just about exhausted the options available from the compensation package … Read more

Twitter announces it’s been developing an edit feature

CNN Business — Twitter has been developing a feature for the past year that will allow users to edit their tweets, the company announced late Tuesday. Testing of the much-demanded feature will be available “in the coming months” to users of the platform’s paid subscription service, Twitter Blue, Twitter said in a tweet. The announcement … Read more

Premarket stocks: Chinese stocks on Wall Street aren’t in the clear yet

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. London CNN Business — Investors are breathing a sigh of relief afters in Beijing extended an olive … Read more