Money Archives

Why Goldman Sachs isn’t too worried about a recession

January 13, 2023 5:20 AM CNN Newsource

By Nicole Goodkind, CNN America’s largest financial institutions are pivoting into a new industry: Meteorology. JPMorgan Chase CEO Jamie Dimon…

Tim Cook agrees to a massive pay cut

January 13, 2023 5:24 AM CNN

By Anna Cooban, CNN Apple CEO Tim Cook recommended the company cut his pay this year after shareholders rebelled. The world’s largest tech…

Bank earnings fail to impress investors as recession worries rise

January 13, 2023 6:41 AM CNN Newsource

By Paul R. La Monica, CNN JPMorgan Chase, Bank of America, Citigroup and asset management giant BlackRock posted results that topped Wall…

Why consumer sentiment is at its highest level since April

January 13, 2023 9:09 AM CNN Newsource

By Alicia Wallace, CNN As inflation continues its slow and steady descent, consumer sentiment is climbing back out of a trough hit last year. The…

Here are the winning numbers for the Mega Millions $1.35 billion jackpot — the 2nd largest in history

January 12, 2023 10:14 PM CNN Newsource

By Aya Elamroussi, CNN Friday the 13th might have ended up being someone’s lucky day. The winning numbers for the Mega Millions lottery drawing…

Exclusive: Rocket CEO says housing isn’t a buyer’s or a seller’s market. Now it’s even

January 13, 2023 9:41 AM CNN

By Matt Egan, CNN Business Covid-19 set off an epic housing boom that left first-time homebuyers feeling desperate amid relentless bidding wars and…

Exclusive: Rocket CEO says housing isn’t a buyer’s or a seller’s market. Now it’s even

January 13, 2023 9:41 AM CNN Newsource

By Matt Egan, CNN Business Covid-19 set off an epic housing boom that left first-time homebuyers feeling desperate amid relentless bidding wars and…

Mud, mold, and destruction: California businesses face catastrophic damage

January 13, 2023 8:47 AM CNN

By Parija Kavilanz, CNN At the end of a long wooden California pier that juts out above the Pacific ocean sits the Wharf House. It’s now almost…

Mud, mold, and destruction: California businesses face catastrophic damage

January 13, 2023 8:47 AM CNN Newsource

By Parija Kavilanz, CNN At the end of a long wooden California pier that juts out above the Pacific ocean sits the Wharf House. It’s now almost…

Pepsi is changing its Zero Sugar recipe

January 13, 2023 7:35 AM CNN Newsource

By Jordan Valinsky, CNN Business Pepsi Zero Sugar will soon taste different. The sugar-free soda unveiled a new recipe that uses a “new…

Global interest rate hikes are ‘yet to bite,’ says IMF head

January 13, 2023 5:58 AM CNN

By Anna Cooban, CNN The world economy is still in a sticky spot, according to the head of the International Monetary Fund, despite cautious optimism…

Tim Cook agrees to a massive pay cut

January 13, 2023 5:24 AM CNN Newsource

By Anna Cooban, CNN Apple CEO Tim Cook recommended the company cut his pay this year after shareholders rebelled. The world’s largest tech…

‘This is the last thing we need:’ Millions of businesses hammered by the pandemic need to start paying back Covid loans

January 13, 2023 5:19 AM CNN Newsource

By Gabe Cohen, CNN At Teddy & The Bully Bar restaurant near downtown Washington, DC, business has never been the same since the pandemic hit.…

Aging, outdated technology leaves air travel at risk of meltdown

January 13, 2023 4:54 AM CNN Newsource

By Brian Fung, CNN The massively disruptive computer outage at the Federal Aviation Administration this week that caused thousands of cancelled or…

Delta trims guidance on cost of pilots labor deal

January 13, 2023 4:53 AM CNN Newsource

By Chris Isidore, CNN Delta Air Lines reported very strong fourth-quarter results Friday that beat forecasts, capping its first profitable year since…

Bosch to invest $1 billion in EV parts factory in China

January 13, 2023 3:39 AM CNN Newsource

By Diksha Madhok Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in…

Sweden finds the largest rare earth deposit in Europe. It could help cut dependence on China

January 13, 2023 3:13 AM CNN Newsource

By Laura He, CNN Swedish mining company LKAB says it has found Europe’s largest deposit of rare earth oxides in the country’s north, a…

Thailand welcomes back Chinese tourists with ‘arms wide open’ as key market returns

January 13, 2023 3:08 AM CNN Newsource

By Kocha Olarn and Michelle Toh, CNN For years, Thailand welcomed legions of Chinese tourists to its golden beaches, shopping districts and striking…

China’s exports plunge as global demand weakens, but trade with Russia hits record high

January 13, 2023 12:50 AM CNN Newsource

By Laura He, CNN China reported a record trade surplus for 2022, as its key export sector delivered robust growth for most of last year, providing…

Boeing 737 Max 8 takes off in China for the first time since 2019

January 12, 2023 11:17 PM CNN Newsource

By Pierre Meilhan, CNN A Boeing 737 Max 8 took off in China on Friday, for the first time since the government grounded all 737 Max 8 planes in 2019,…

World’s top chip maker mulls global expansion with plants in Europe, Japan

January 12, 2023 11:10 PM CNN Newsource

By Diksha Madhok, CNN Semiconductor giant Taiwan Semiconductor Manufacturing Company (TSMC) may expand its global manufacturing footprint even…

Starbucks tells corporate employees to return to office 3 days a week

January 12, 2023 8:30 PM CNN Newsource

By Juliana Liu, CNN Corporate workers at Starbucks must return to the office at least three days a week by the end of January, interim CEO Howard…

NYC mayor cites slower economic growth spurred by high office vacancy, cost of migrant crisis and health care, in budget address

January 12, 2023 7:38 PM CNN Newsource

By Mark Morales, CNN New York City Mayor Eric Adams unveiled the state of the city’s economic outlook as part of a $102.7 billion budget…

Egg prices exploded 60% higher last year. These food prices surged too

January 12, 2023 2:04 PM CNN Newsource

By Alicia Wallace, CNN Eggs, milk, butter, flour … if you were making pancakes last year, it would have cost you. Food prices surged in 2022.…

Tax filing season starts January 23, IRS says

January 12, 2023 11:31 AM CNN Newsource

By Jeanne Sahadi, CNN The IRS will start accepting 2022 federal income tax returns on January 23, the tax agency announced on Thursday. Of course,…

HBO Max raises prices for the first time

January 12, 2023 12:02 PM CNN Newsource

By Jordan Valinsky, CNN Business HBO Max, which debuted in May 2020, is getting its first-ever price hike. Effective immediately, the ad-free HBO Max…

US deficit widens by $85 billion in December

January 12, 2023 2:59 PM CNN

By Alicia Wallace, CNN The US government recorded a deficit of $85 billion in December, bringing the total deficit to nearly $1.42 trillion for the…

Google claims a Supreme Court defeat would transform the internet — for the worse

January 12, 2023 2:26 PM CNN Newsource

By Brian Fung, CNN An unfavorable ruling against Google in a closely watched Supreme Court case this term about YouTube’s recommendation engine…

US deficit widens by $85 billion in December

January 12, 2023 2:13 PM CNN Newsource

By Alicia Wallace, CNN The US government recorded a deficit of $85 billion in December, bringing the total deficit to nearly $1.42 trillion for the…

How inflation has affected credit card use by region

January 9, 2023 11:41 PM Stacker

Experian analyzed how credit card usage has changed in different regions of the U.S. in relation to the increasing cost of goods and…

It’s not just inflation—here’s why your car insurance rates are almost certainly going up this year

January 10, 2023 11:41 PM Stacker

The General curated a list of why car insurance rates are inevitably rising in…

Inflation has moderated some, but grocery shoppers still face high prices

January 10, 2023 11:41 PM Stacker

For the last 12 months, Adams Publishing Group’s journalists from across the country collected local grocery price data, spoke with American…

Exxon accurately predicted global warming from 1970s — but continued to cast doubt on climate science, new report finds

January 12, 2023 12:00 PM CNN Newsource

By Laura Paddison, CNN ExxonMobil’s own scientists accurately predicted future global warming in reports dating back to the late 1970s and…

What to expect at work this year

January 11, 2023 1:12 PM CNN Newsource

By Jeanne Sahadi, CNN The pandemic has transformed work over the past three years in ways few expected. It normalized remote work, created a shortage…

Mortgage rates inched down last week, after a slight increase the week before

January 12, 2023 10:02 AM CNN Newsource

By Anna Bahney, CNN Mortgage rates inched down last week, after a slight increase the week before. The 30-year fixed-rate mortgage averaged 6.33% in…

FAA is years away from upgrading the system that grounded all US flights

January 12, 2023 11:08 AM CNN

By Pete Muntean, CNN The Federal Aviation Administration software that failed Wednesday causing thousands of flight delays and cancellations is 30…

FAA is years away from upgrading the system that grounded all US flights

January 12, 2023 10:56 AM CNN Newsource

By Pete Muntean, CNN The Federal Aviation Administration software that failed Wednesday causing thousands of flight delays and cancellations is 30…

Why Walmart is eliminating single-use bags in some states but not others

January 12, 2023 7:30 AM CNN Newsource

By Nathaniel Meyersohn, CNN Walmart will eliminate single-use paper and plastic carryout bags at the register from stores in New York, Connecticut…

Prices fell in December as inflation continues to moderate

January 12, 2023 7:11 AM CNN Newsource

By Alicia Wallace, CNN For the first time in nearly three years, inflation fell on a monthly basis. Consumer prices decreased by 0.1% in December,…

Mattel launches new Barbie doll for preschoolers

January 12, 2023 7:02 AM CNN Newsource

By Parija Kavilanz, CNN Business Mattel is giving preschoolers a new age-appropriate Barbie doll that it says is better suited for their needs. The…

Auto sales are falling — but profits are surging. Welcome to the new normal

January 12, 2023 5:20 AM CNN Newsource

By Nicole Goodkind, CNN The US auto industry just posted its worst sales in more than a decade — but that’s not necessarily a bad sign for…

This company will make employees pay a hefty fine if they bother colleagues on vacation

January 11, 2023 10:57 PM CNN Newsource

By Diksha Madhok, CNN Getting urgent work emails from colleagues even during vacation? This is a common occurrence for many white-collar workers,…

Why Apple may finally be embracing touchscreen laptops

January 12, 2023 10:22 AM CNN Newsource

By Samantha Murphy Kelly, CNN Business Over the years, Apple has added touchscreens to almost every computing device imaginable, from phones and…

Sam Bankman-Fried speaks out for the first time since his arrest

January 12, 2023 6:57 AM CNN Newsource

By Allison Morrow, CNN Sam Bankman-Fried, the former crypto star turned alleged white-collar criminal, has spoken out for the first time since his…

Wall Street Journal: Subway is exploring a sale

January 12, 2023 4:37 AM CNN Newsource

By Jordan Valinsky, CNN Business Subway, one of the world’s most recognizable fast food brands, might be up for a sale, according to the Wall…

New York nurses strike ends after tentative deal reached with hospitals

January 12, 2023 3:28 AM CNN Newsource

By Chris Boyette and Artemis Moshtaghian, CNN A nurses strike at two private New York City hospital systems has come to an end after 7,000 nurses…

Hong Kong businesses cheer China reopening, but warn there’s a long way to go

January 12, 2023 1:36 AM CNN Newsource

By Michelle Toh, Sandi Sidhu and Marc Stewart, CNN Kiki Yang brought an empty green suitcase from Shenzhen to Hong Kong this week to load up on new…

China posts one of its worst economic performances in decades because of Covid

January 12, 2023 1:36 AM CNN

By Laura He, CNN China’s economy expanded by just 3% in 2022, far below the government’s own target, marking one of the worst…

China’s local governments set 2023 growth targets, offering clues on economic recovery

January 12, 2023 1:11 AM CNN Newsource

By Laura He, CNN A number of key provinces and cities in China have announced their growth targets for this year, most of them above 5%, offering the…

Trump campaign has asked Meta to unblock the former president’s Facebook account

January 11, 2023 6:06 PM CNN

By Kristen Holmes, CNN Former President Trump’s campaign sent a letter to Facebook’s parent company, Meta, Tuesday petitioning them to…

Inside Facebook’s high-stakes debate to reinstate Trump after a two-year ban

January 11, 2023 5:45 PM CNN Newsource

Story by Donie O’Sullivan, Clare Duffy, Kristen Holmes, Gabby Orr and Brian Fung Video by Zach Wasser and John General Facebook-parent Meta is…

2023 Tax Season is soon

January 11, 2023 5:51 PM Evan Thomason

The IRS will start collecting business tax returns on…

Don’t involuntarily reassign our licensed practical nurses to replace striking nurses, union warns NYC hospital

January 11, 2023 4:28 PM CNN Newsource

By Tami Luhby and Celina Tebor, CNN The law firm for a union representing licensed practical nurses (LPNs) in New York City sent a cease-and-desist…

Disney names Nike executive Mark Parker as new chairman

January 11, 2023 3:33 PM CNN Newsource

By David Goldman, CNN The Walt Disney Company has named Nike executive chairman Mark Parker as its new board chair, replacing longtime director Susan…

BlackRock is cutting 500 jobs as Wall Street layoffs continue

January 11, 2023 3:31 PM CNN Newsource

By Matt Egan, CNN BlackRock, the world’s largest asset manager, is cutting about 500 jobs following a period of rapid hiring. A spokesperson…

CNN announces revamped daytime lineup with new show format

January 11, 2023 2:49 PM CNN Newsource

By Oliver Darcy, CNN Business CNN on Wednesday announced a revamped dayside programming lineup that the network said will employ a new format for…

Elon Musk’s Twitter accused of unlawful staff firings in the UK

January 11, 2023 2:32 PM CNN Newsource

By Clare Duffy, CNN A law firm representing dozens of former UK Twitter employees is accusing the company of “unlawful, unfair and completely…

We’re not taking away your gas stove, regulator tells CNN

January 11, 2023 1:08 PM CNN Newsource

By Matt Egan The federal government isn’t going to take away your gas stove, a top consumer regulator told CNN on Wednesday. Richard Trumka Jr,…

NBC News president Noah Oppenheim exits, replaced by new head of editorial and two others in network shakeup

January 11, 2023 1:08 PM CNN Newsource

By Oliver Darcy, CNN Business NBC News president Noah Oppenheim will exit the network as part of a restructuring announced Wednesday that will…

We’re not taking away your gas stove, regulator tells CNN

January 11, 2023 1:03 PM CNN

By Matt Egan The federal government isn’t going to take away your gas stove, a top consumer regulator told CNN on Wednesday. Richard Trumka Jr,…

Biden urges Congress to pass bipartisan tech legislation in WSJ op-ed

January 11, 2023 12:43 PM CNN Newsource

By Brian Fung, CNN President Joe Biden called on members of Congress Wednesday to set aside partisan differences and pass groundbreaking legislation…

Apple’s first US labor union reaches new milestone for tech industry

January 11, 2023 12:18 PM CNN Newsource

By Catherine Thorbecke, CNN Workers at Apple’s first unionized retail store began collectively bargaining with management on Wednesday, in a…

Gold is surging as investors bet on slower Fed rate hikes

January 11, 2023 7:37 AM CNN Newsource

By Anna Cooban, CNN Gold is shining once again, as investors bet that cooling inflation in the United States will slow the pace of Fed rate hikes and…

Netflix stock soars on the dollar’s slide

January 11, 2023 11:40 AM CNN Newsource

By Paul R. La Monica, CNN Netflix had the kind of year in 2022 that only the ghoulishly morbid Wednesday Addams would love. But, now, in part due to…

Why experts worry TikTok could add to mental health crisis among US teens

January 11, 2023 11:38 AM CNN Newsource

By Vanessa Yurkevich, CNN Jerome Yankey said he used to pull all-nighters when he was in college — not studying or partying, but scrolling on…

TikTok access from government devices now restricted in more than half of US states

January 11, 2023 11:38 AM CNN

By Brian Fung and Christopher Hickey, CNN More than half of all US states have partially or fully banned TikTok from government devices, according to…

Mega Millions jackpot soars to $1.35 billion — 2nd largest in history — after no winner claimed Tuesday’s prize

January 11, 2023 12:48 AM CNN Newsource

By Aya Elamroussi, CNN The Mega Millions jackpot has reached an estimated $1.35 billion — the second-largest in the lottery’s history…

Egg prices ‘expected to soar’ in Japan after record cull of 10 million birds

January 11, 2023 1:44 AM CNN Newsource

By Junko Ogura and Michelle Toh, CNN Japan has culled just under 10 million birds as it confronts a massive outbreak of avian flu, which is…

Investors are underestimating inflation again

January 11, 2023 5:16 AM CNN Newsource

By Nicole Goodkind, CNN Investors are holding their breath in anticipation of Thursday morning’s Consumer Price Index inflation report —…

FTX lawyers say they have recovered $5 billion in assets

January 11, 2023 9:53 AM CNN Newsource

By Allison Morrow, CNN FTX officials overseeing its bankruptcy have recovered more than $5 billion in cash and other liquid assets that may be used…

Global experts worry simultaneous crises could become the new norm

January 11, 2023 8:56 AM CNN Newsource

By Julia Horowitz, CNN Business executives, politicians and academics are bracing for a gloomy world battered by intersecting crises, as rising…

Netflix will stream a live awards show for the first time

January 11, 2023 8:38 AM CNN Newsource

By Jordan Valinsky, CNN Business Netflix will air a live awards show for the first time, marking the streamer’s latest expansion into live…

What is NOTAM, the FAA computer system that halted all US flights?

January 11, 2023 7:53 AM CNN Newsource

By Chris Isidore, CNN Business A critical Federal Aviation Administration computer system that experienced an outage Wednesday and briefly halted all…

What is NOTAM, the FAA computer system that halted all US flights?

January 11, 2023 7:53 AM CNN

By Chris Isidore, CNN Business A critical Federal Aviation Administration computer system that experienced an outage Wednesday and briefly halted all…

Health care is in crisis. New York’s nurses strike is just the latest sign

January 11, 2023 7:22 AM CNN Newsource

By Chris Isidore, CNN Naniaka Camara grew up near Montefiore Hospital in the Bronx in New York and remembers going there for her own medical care. A…

Exclusive: Pepsi is ditching Sierra Mist for a new Sprite rival

January 11, 2023 5:54 AM CNN Newsource

By Jordan Valinsky, CNN Business Pepsi is reaching for the stars in its latest effort to take on Sprite. Starry, a new lemon-lime soda, is rolling…

The US government is still trying to find ways to regulate Big Tech. He has some ideas

January 11, 2023 5:46 AM CNN Newsource

By Brian Fung, CNN After years of hearings, reports and stalled proposals, Congress ended 2022 without taking major steps to regulate Big Tech. But a…

Stephanie McMahon resigns as WWE’s chairwoman and co-CEO

January 10, 2023 9:30 PM CNN Newsource

By Rob McLean, CNN Four days after her disgraced father returned to WWE’s board, the wrestling company’s co-CEO and chairwoman Stephanie…

The owner of Uniqlo is boosting pay for Japan employees by up to 40% as inflation bites

January 10, 2023 8:33 PM CNN Newsource

By Michelle Toh, CNN Fast Retailing, the Japanese giant that owns popular clothing brands Uniqlo and Theory, will start paying its employees much…

C-SPAN is calling on McCarthy to allow its cameras in the House after its unprecedented coverage of the leadership fight

January 10, 2023 8:32 PM CNN Newsource

By Oliver Darcy, CNN C-SPAN isn’t packing up its cameras quietly. The public affairs network on Tuesday sent a letter to new House Speaker…

C-SPAN is calling on McCarthy to allow its cameras in the House after its unprecedented coverage of the leadership fight

January 10, 2023 8:32 PM CNN

By Oliver Darcy, CNN C-SPAN isn’t packing up its cameras quietly. The public affairs network on Tuesday sent a letter to new House Speaker…

Rocket start-up fails attempt to launch satellites off Alaska’s coast

January 10, 2023 8:31 PM CNN Newsource

By Jackie Wattles, CNN A rocket operated by a California-based start-up failed near the coast of Alaska Tuesday, marking yet another mishap for…

Wells Fargo is retreating from the mortgage market it once led

January 10, 2023 4:09 PM CNN Newsource

By Matt Egan, CNN Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. The scandal-ridden bank announced…

NICU mom stays by her son’s side after his nurses leave to strike

January 10, 2023 1:24 PM CNN Newsource

By Celina Tebor, CNN Lora Ribas hasn’t left her son’s bedside in four days. Her one-year-old baby, Logan, has been in the neonatal…

Fed Chair Powell: Bringing down inflation requires ‘measures that are not popular’

January 10, 2023 12:04 PM CNN

By Nicole Goodkind, CNN Federal Reserve Chairman Jerome Powell made his first public appearance of the year on Tuesday, stressing the importance of…

Tom Brady and Gisele Bundchen’s FTX stake will probably get wiped out

January 10, 2023 11:32 AM CNN Newsource

By Allison Morrow, CNN Less than a year after Tom Brady and Gisele Bundchen appeared in a series of Super Bowl ads for FTX, the former couple have…

Pizza Hut is bringing back a fan favorite from the ’90s

January 10, 2023 4:32 AM CNN Newsource

By Jordan Valinsky, CNN Pizza Hut is bringing back a fan favorite after a nearly 25-year hiatus. Beginning February 1, the “Big New…

Asian stocks enter bull market as investors bet on China

January 10, 2023 4:57 AM CNN Newsource

By Anna Cooban, CNN Stocks in Asia are starting 2023 in a bull market. Investors have been cheered by China’s pivot away from its zero-Covid…

Abercrombie & Fitch is cool again

January 10, 2023 5:17 AM CNN Newsource

By Nathaniel Meyersohn, CNN Business Abercrombie & Fitch has shed its perfume-filled mall stores, shirtless models and logo sweatshirts to win…

M&M’s new packaging is causing a stir

January 10, 2023 5:39 AM CNN Newsource

By Jordan Valinsky, CNN M&M’S is making a statement with its latest candy pack, which features an all-female set of characters —…

Encouraging inflation news: Online prices keep dropping

January 10, 2023 6:01 AM CNN Newsource

By Matt Egan In a positive sign for inflation-weary consumers, online prices dropped in December as retailers resorted to deep discounts to lure…

Bed Bath & Beyond is running out of time

January 10, 2023 6:29 AM CNN Newsource

By Nathaniel Meyersohn, CNN Business Bed Bath & Beyond lost a third of its sales during the holiday run-up and is running out of options to…

Coinbase to lay off 20% of staff as crypto winter continues

January 10, 2023 8:05 AM CNN Newsource

By Paul R. La Monica, CNN Business The crypto winter is apparently not over yet. Coinbase announced Tuesday that it was laying off 950 people, about…

Disney CEO Bob Iger orders workers to return to the office 4 days a week

January 10, 2023 8:24 AM CNN Newsource

By Jordan Valinsky, CNN Business Disney CEO Bob Iger is clamping down on remote workers. Iger, who recently returned to Disney’s helm after a…

Tuesday’s Mega Millions jackpot soars above $1 billion. Here are the winning numbers

January 10, 2023 4:11 AM CNN Newsource

By Elizabeth Wolfe and Aya Elamroussi, CNN The winning numbers for Tuesday night’s $1.1 billion Mega Millions jackpot drawing were 7, 13, 14,…

Onions are so expensive in the Philippines they’re being smuggled into the country

January 10, 2023 1:13 AM CNN Newsource

By Kathleen Magramo, CNN From salads to stews, the humble onion is a key ingredient in nearly every Filipino dish. But now, the vegetable costs…

Fisher-Price recalls Rock ‘n Play Sleepers again after 8 more deaths

January 9, 2023 8:19 PM CNN Newsource

By Rob McLean, CNN Fisher-Price for a second time recalled its Rock ‘n Play Sleepers on Monday after at least eight infant deaths occurred…

Rolls-Royce, Bentley and Lamborghini had record sales last year, again

January 10, 2023 9:12 AM CNN Newsource

By Peter Valdes-Dapena, CNN Business Despite broad concerns about the economy and fears of an impending recession, the ultra-wealthy seem to be doing…

French workers can retire much younger than most. That’s about to change

January 10, 2023 8:55 AM CNN Newsource

By Hanna Ziady and Joseph Ataman, CNN The French government is planning to raise the official retirement age by two years as part of a long-delayed…

Musk’s Twitter restores accounts of prominent election deniers two years after Jan. 6 attack

January 10, 2023 7:51 AM CNN Newsource

By Donie O’Sullivan, CNN Elon Musk’s Twitter has restored the accounts of two prominent election deniers who were banned from the…