Money

By Hanna Ziady, CNN Credit Suisse bled customer deposits worth 67 billion Swiss francs ($75.2 billion) in the first three months of the year, and money is still leaving the bank as UBS races to complete a rescue of its stricken rival. The bank run was “most acute” in the days just before and just

By Laura He, CNN Public sector workers in an eastern Chinese city are set to be paid fully in digital yuan, as the country makes a significant push to popularize the currency. Changshu, located in the province of Jiangsu, will start the new payment process in May, according to an official document widely posted on

By Alex Leeds Matthews, CNN Tupperware may be on the verge of collapse, but the 77-year-old business’ potential demise isn’t necessarily a harbinger of worsening economic conditions. While sales data shows the rest of the US consumer retail sector — including some of the company’s competitors in the food storage space — seems to be

By Krystal Hur, CNN With Microsoft, Alphabet, Amazon and Meta Platforms all slated to report earnings this coming week, investors are turning their attention away from bank earnings to Big Tech. That’s because just a handful of large-cap tech stocks powered the S&P 500’s gains during the first quarter despite banking turmoil, uncertainty about the

By Nicole Goodkind, CNN Business Google’s top executive took home quite a bit of money last year. Sundar Pichai, the CEO of Google and Google’s parent company Alphabet, made nearly $226 million in 2022, according to a new filing from Alphabet. The majority of the pay came from stock holdings, valued at more than $218

By Peter Valdes-Dapena, CNN It seemed like a good idea at the time. Exciting, actually. I could take a ride in what will soon be America’s last gasoline-powered muscle car with the woman who’s in charge of getting it into production and onto the street. But we were in New York City, it was four

By Selina Wang, CNN Wearing surgical masks to cover their faces, dozens of people demonstrated outside a branch office of China’s central bank in the landlocked province of Henan early this month to demand their savings back. They’re among thousands of depositors in China that protesters say are still campaigning for compensation after last year’s

By Chris Isidore, CNN A group of progressive Tesla shareholders want the company’s board of directors to make CEO Elon Musk concentrate more on one of his many jobs, that of running the EV automaker. In a letter to the Tesla board, the group says that Musk is not spending enough time and attention focused

By David Goldman, CNN SVB Financial Group, the company that owned the failed Silicon Valley Bank until the US government took it over last month, announced that two of its top executives have left their jobs. Gregory Becker, the company’s former CEO, and Daniel Beck, SVB’s former chief financial officer, left the company earlier this

By Chris Isidore, CNN After a series of price cuts throughout most of this year, Tesla is raising the prices of its two upper-end models: the Model S and the Model X. The decision is a reversal of its strategy that was confirmed just this week by CEO Elon Musk during a conference call with

By Rebekah Riess and Peter Valdes-Dapena, CNN A coalition of attorneys general for 17 states and the District of Columbia on Thursday called for a federal recall of Hyundai and Kia vehicles that they say are unsafe and too easy to steal. The attorneys general called for the recall “following the companies’ continued failure to

By Nicole Goodkind, CNN Oil and gas stocks have been on a two-year tear, ripping ahead as natural gas prices surged due to supply chain kinks, a strong economy, and Russia’s invasion of Ukraine. Fears of a recession are now slamming on the brakes. What’s happening: Brutally high oil and gas prices were the talk

By Nectar Gan, CNN BMW has landed in hot water in China over tubs of ice cream. The luxury German automaker’s Mini unit had to apologize repeatedly after being accused of discrimination against Chinese visitors when handing out free ice cream at the Shanghai auto show this week. Videos circulating widely on social media Thursday

By Krystal Hur, CNN An employee at the Consumer Financial Protection Bureau sent confidential data about hundreds of thousands of consumer accounts to their personal email, the agency told CNN on Thursday. Approximately 14 emails included consumer personally identifiable information, or PII. The employee also sent two spreadsheets that listed names and transaction-specific account numbers

By Chris Isidore, CNN A Utah CEO who is demanding that many of his remote employees start working in the company’s offices says staff members must make sacrifices, and questions whether people who serve as primary caregivers for their children, specifically working mothers and single mothers, are doing right by both their employers and their

By Allison Morrow, CNN The CEO whose “pity city” speech backfired spectacularly is now apologizing to her employees. “I feel terrible that my rallying cry seemed insensitive,” wrote Andi Owen, chief executive of office furniture giant MillerKnoll, in an email to staff Tuesday. “What I’d hoped would energize the team to meet a challenge we’ve

By Danielle Wiener-Bronner, CNN Several Anheuser-Busch facilities received threats last week, a company spokesperson confirmed, following weeks of backlash against Bud Light because it sponsored two Instagram posts from a transgender woman. “The safety of our employees is always our top priority,” the company spokesperson said in a statement to CNN. “We worked quickly with

By Jennifer Korn, CNN Fox News’ legal battle with Dominion Voting Systems is over. It now has to deal with Smartmatic, which is seeking billions of dollars more than its rival wanted in damages. The voting technology company filed a lawsuit against Fox in New York state courts for defamation following the 2020 election, and

By Laura He, CNN Shares in Tesla’s Chinese rivals fell on Thursday, after CEO Elon Musk signaled that the company will continue cutting prices to boost demand for electric cars in an increasingly competitive market. XPeng plunged 8% in Hong Kong, while Nio sank 5.6%. Li Auto and Leapmotor tumbled 4.2% and 2.4% respectively. BYD,

By Peter Valdes-Dapena, CNN Polestar, the electric vehicle brand spun off from Volvo, just unveiled a new SUV that will be for sale in the United States next year. It finally does away with something that’s become increasingly pointless in new vehicles, anyway: The back window. The Polestar 4 is a “coupe-shaped” SUV, with a

By Chris Isidore, CNN More than half of gas stations in the Miami-Fort Lauderdale area were without gasoline Wednesday after flooding from last week’s massive storm caused a wave of panic buying by drivers topping off their gas tanks. “I would estimate that 80% of [station closings] are due to panic buying,” said Patrick De

By Danielle Wiener-Bronner, CNN McDonald’s announced changes to its signature burgers earlier this week, including adding more Big Mac sauce. Now, it’s giving fans a way to get even more sauce. Starting next week, for a limited time, customers who order through the app will be able to get Big Mac sauce in a dip

By Parija Kavilanz, CNN Delaney Dickson is now anxious about her upcoming appointments at David’s Bridal after the retailer filed for bankruptcy this week. Her wedding is set for mid-August and she has a second alteration appointment at a David’s Bridal store. “The appointment is in early May,” said Dickson, an office manager and veterinary

By Marshall Cohen, CNN Dominion Voting Systems’ blockbuster defamation case against Fox News is over after the right-wing network cuts a check for a staggering $787 million, but there’s still an avalanche of pending lawsuits that are seeking accountability from the right-wing figures who championed false claims about the 2020 election. After more than two