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TurboTax is sending checks to 4.4 million customers as part of a $141 million settlement

By Jordan Valinsky, CNN Business Roughly 4.4 million people will soon receive checks from TurboTax, following a 50-state settlement with parent company Intuit for allegedly steering millions of low-income Americans away from free tax-filing services. Customers affected by the settlement will receive an email about the settlement and checks will automatically be mailed throughout this

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‘Everybody is worried’: China raids offices of consultancy firm Capvision in widening industry crackdown

By Nectar Gan and Juliana Liu, CNN China’s state security authorities raided multiple offices of international advisory firm Capvision, state media reported Monday, part of a broader crackdown on the consulting industry as Beijing tightens control over what it considers sensitive information related to national security. Officers raided Capvision’s office in the eastern city of

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Fox News anchor Bret Baier’s reputation takes hit after text messages reveal what he said in wake of 2020 election

By Oliver Darcy, CNN Business Bret Baier’s standing as a “fair and balanced” newsman is being called into question like never before. The Fox News chief political anchor has long enjoyed a strong reputation in Washington circles and among viewers, anchoring major news events for the network and moderating presidential debates. While its never been

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All-you-can-eat buffet restaurants are back

By Nathaniel Meyersohn, CNN The Covid-19 pandemic crushed all-you-can-eat buffets. The owner of Old Country Buffet and Furr’s Fresh Buffet filed for bankruptcy in 2021. About the same time, so did Cicis and the owner of Souplantation and Sweet Tomatoes. Operators cited occupancy restrictions, bans and health concerns. But now buffets are making a comeback.

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Senior Treasury officials reiterate dire warnings if debt ceiling isn’t lifted, pour cold water on invoking the 14th Amendment

By Sam Fossum Ahead of a highly anticipated meeting between President Joe Biden and Congressional leaders on Tuesday, senior Treasury officials reiterated dire warnings of economic “chaos” and “catastrophe” if the US doesn’t raise the debt ceiling as the country barrels toward default in early June. “I know he wants to set up a process

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‘The federal government is not doing their job,’ NTSB chair says about automated driving tech

By Peter Valdes-Dapena, CNN Business National Transportation Safety Board chair Jennifer Homendy sharply criticized federal regulators Thursday for not doing enough to monitor and test automatic driving technologies. She spoke at an event marking the opening of a Consumer Reports facility that will test increasingly common systems and features such as automatic braking, lane-departure technology

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Jenny Craig is going out of business

By Jordan Valinsky, CNN Jenny Craig, the weight-loss chain, has confirmed that it’s shutting down for good. “It’s with a heavy heart, we’re announcing the close of our business,” a note on its Facebook page late Thursday. “The last 40 years would not have been possible without you.” Uncertainty surrounding its future started last week

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This Asian combat sports promoter wants to crack the US market — without the bloodlust and trash-talking

By Andrew McNicol, CNN First they were seen as cage-fighting meat heads. Then testosterone-fueled trash talkers wearing expensive suits. Could 2023 be the year mixed-martial arts (MMA) in the United States finally returns to its pure, humble beginnings nurtured in Asia nearly 5,000 years ago? “Our mission is not to stage the biggest, bloodiest fights

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Authorities in northeast India give ‘shoot-at-sight’ orders after violent skirmishes over tribal rights

By Rhea Mogul and Manveena Suri, CNN Authorities in the northeastern Indian state of Manipur have issued “shoot-at-sight” orders after violence broke out this week between tribal and non-tribal groups that saw properties and vehicles set ablaze. The state’s governor, Anusuiya Uikey, issued the order on Thursday in a bid to “maintain public order and

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New York MTA resumes transit alerts on Twitter

By Brian Fung, CNN New York’s Metropolitan Transportation Authority said it would resume posting automated transit alerts to Twitter on Thursday after the social media company backtracked on a plan to charge public service accounts for access to the platform. In a statement Thursday, MTA Acting Chief Customer Officer Shanifah Rieara said Twitter had tried

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Movie theaters are most at risk if the writers’ strike drags on, Moody’s says

By Vanessa Yurkevich, CNN Already strained movie theater companies could be hurt most from the Writers Guild of America strike, according to an analysis released Thursday. The strike by film and TV writers entered its third day Thursday, with no negotiations currently scheduled with the Alliance of Motion Pictures and Television Producers, which represents management

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Fox says it settled Dominion lawsuit to ‘buy peace,’ as it tries to block release of more material in the case

By Oliver Darcy, CNN Business Fox said in a court filing Wednesday that it settled the monster defamation lawsuit brought by Dominion Voting Systems for $787.5 million to “buy peace,” and strongly opposed motions to unseal additional redacted material in the case. “Fox agreed to settle this case, with this Court’s encouragement, in large part

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What to expect from the jobs report

By Alicia Wallace, CNN If the latest employment trends continue and economists’ forecasts prove true, Friday’s jobs report could bring back that pre-pandemic feeling. Economists expect the US economy to have added 180,000 jobs in April, according to consensus estimates on Refinitiv. Excluding the losses during the first year of the pandemic, that would be

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Why these bank stocks aren’t getting crushed

By Julia Horowitz, CNN JPMorgan Chase’s rescue of First Republic Bank in the United States this week didn’t herald the end of the banking crisis. Investors have shifted their attention to other regional lenders, dumping shares of California’s PacWest, which is now exploring “all strategic options.” The bank’s stock is down 36% in pre-market trading

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Takeaways from the Federal Reserve meeting

By Alicia Wallace, CNN The Federal Reserve on Wednesday announced its 10th-straight interest rate hike, raising its benchmark rate by another quarter of a point and hinting at a pause as soon as next month. Here are five takeaways from the central bank’s latest action and Fed Chair Jerome Powell’s news conference: Banking conditions have

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The Fed lifts rates by a quarter point

By Bryan Mena, CNN The Federal Reserve voted unanimously to raise interest rates by a quarter point Wednesday, the tenth rate hike since the central bank started its battle against inflation last March. The move comes amid ongoing fragility in the banking sector triggered partly by higher interest rates, and following the collapse of three

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