Money

By Jordan Valinsky, CNN Chipotle Mexican Grill is suing rival Sweetgreen for trademark infringement over the latter’s recently released salad bowl. In a lawsuit filed Tuesday, Chipotle said that Sweetgreen’s “Chipotle Chicken Burrito Bowl” is being marketed in a “very similar and directly competitive” manner that is similar to Chipotle’s chicken burrito bowl. Sweetgreen released

By Danielle Wiener-Bronner, CNN A slowing economy may lead to a decline in sales of pricey beef cuts, but don’t look for any bargains just yet. Market forces that have been building for a long time, including devastating droughts, will likely keep hamburger and steak prices steady — and relatively expensive. In part, that’s because

By Krystal Hur, CNN Millions of jobs could be on the chopping block this year, as the Federal Reserve continues its rate-hiking campaign to tame inflation. But the effects of that action likely won’t reverberate evenly across the economy. The Fed has seen some success: Inflation has cooled for eighth consecutive months, according to the

By Marshall Cohen and Kate Trafecante, CNN Fox News said in a court filing Tuesday that it plans to put some of its most prominent executives and TV hosts on the witness stand to testify as part of its defense in the Dominion defamation trial. The right-wing network told the judge it “intends to make

By Parija Kavilanz, CNN Old Navy, known for its low-priced basic and trendy seasonal clothing, has adopted an interesting sartorial tactic amid sinking sales. In order to get customers excited to shop again at its stores, it is adding pockets to more dresses. Old Navy, owned by Gap Inc., said it is doubling the number

By Julia Horowitz, CNN The British pound crashed to a record low last fall as investors rebelled against budget plans by former Prime Minister Liz Truss. Now, it’s enjoying a comeback. Sterling hit its highest level against the US dollar in 10 months on Tuesday, topping $1.25 for the first time since June 2022. The

By Oliver Darcy, CNN The media wedding of the summer is no more. Billionaire right-wing media mogul Rupert Murdoch and Ann Lesley Smith have called off their engagement just weeks after announcing they would be tying the knot, a person familiar with the matter told CNN. Vanity Fair, which was first to report the news

By Peter Valdes-Dapena, CNN Business Volkswagen is recalling 143,000 of its big Atlas SUVs in the US because a faulty sensor on the front passenger side can switch the airbag system off under certain conditions. Until the issue can be corrected, VW is advising owners to avoid letting people ride in that seat. The problem

By Danielle Wiener-Bronner, CNN Klaus Teuber, creator of the blockbuster board game Catan, has passed away. “It is with profound sadness that we at Catan Studio acknowledge the passing of Klaus Teuber, legendary game designer and creator of the beloved board game Catan,” the game publisher’s said in a statement posted to Facebook and other

By Krystal Hur, CNN Charlie Javice, founder of the buzzy student financial assistance startup Frank, was arrested Monday night and charged by the US Securities and Exchange Commission for allegedly defrauding JPMorgan Chase in the $175 million acquisition of her company. The SEC said in a complaint filed to a New York District Court that

By Chris Isidore, CNN About 5,000 General Motors white collar employees have taken buyouts, according to GM CFO Paul Jacobson. Jacobson, speaking at an investor conference in New York on Tuesday, disclosed the number of employees who have taken package offered last month. He said that the company will take about a $1 billion charge

By Dayun Park Beep! The barcode, that rectangle of thick and thin parallel lines seen on seemingly every grocery product, package, prescription bottle and piece of luggage is turning 50 years old. Almost as old is the dispute over whose idea it actually was. Since its invention, the Universal Product Code has become the most

By Jordan Valinsky, CNN Elon Musk has officially been dethroned from the top of Forbes’ annual “World’s Billionaire’s List.” The Tesla and Twitter chief is now the second-richest billionaire, worth an estimated $180 billion, which is $39 billion less than the previous year. The top spot has been awarded to Bernard Arnault, the chairman of

By Hanna Ziady, CNN Credit Suisse Chairman Axel Lehmann apologized to angry shareholders Tuesday after the ailing Swiss lender required an emergency rescue last month that left investors nursing heavy losses. “It is a sad day. For all of you, and for us,” Lehmann told 1,748 shareholders at an ice hockey stadium in Zurich at

By Chris Lau, CNN Australia has joined other Western countries in banning the use of TikTok on government devices as the Chinese-owned video app comes under increasing pressure over claims it presents a security concern. Attorney-General Mark Dreyfus announced the ban on Tuesday after receiving advice from intelligence and security agencies, saying the directive would

By Parija Kavilanz, CNN One maker said it is responding to high demand for the morning-after pill, after the US Supreme Court last year ended a constitutional right to abortion, by speeding up availability of the emergency contraceptive in retail stores and introducing a new two-count pack. Julie launched as a one-step tablet of emergency

By Olesya Dmitracova, CNN Big-4 accounting firm EY has been banned from auditing companies of public interest in Germany for two years over its failures as the auditor of Wirecard in the years before the digital payments company’s staggering collapse. Germany’s auditor supervisory authority APAS said Monday that it had imposed sanctions on the auditor

By Chris Isidore, CNN OPEC and its allies’ surprise move to slash oil production will soon be felt at US gas pumps. The group known as OPEC+ announced Sunday it would cut oil production by more than 1.6 million barrels a day starting in May, running through the end of the year. The news sent

By Michelle Toh, CNN HSBC’s top brass defended their strategy Monday to frustrated shareholders in the lender’s largest market, as Europe’s biggest bank continued to face calls to be split up. At an informal shareholder meeting in Hong Kong, Chairman Mark Tucker and CEO Noel Quinn took questions from investors on issues ranging from how

By Michelle Toh, Mohammed Tawfeeq and Anna Cooban, CNN Oil prices spiked Monday after OPEC+ producers unexpectedly announced that they would cut output. Brent crude, the global benchmark, jumped 5.31% to $84.13 a barrel, while WTI, the US benchmark, rose 5.48% to $79.83. Both were the sharpest price rises in almost a year. The oil

By Hanna Ziady, CNN Shares in Cineworld plunged more than 30% Monday, hitting their lowest level since late August, after the owner of Regal Cinemas said it planned to terminate efforts to sell its US, UK and Irish businesses. The world’s second-largest movie theater chain also announced a debt restructuring plan with lenders to help

By Ramishah Maruf, CNN The talk between US Secretary of State Antony Blinken and Russian Foreign Minister Sergey Lavrov about detained journalist Evan Gershkovich has been “hugely reassuring,” Wall Street Journal Editor-in-Chief Emma Tucker said on CBS’ “Face the Nation” on Sunday. “We know that the US government is taking the case very seriously right

By Rhea Mogul and Sania Farooqui, CNN For nearly a minute, the 4-year-old boy attempts to valiantly escape the hungry pack of stray dogs as they circle around him. The boy, who has not been publicly identified, is dragged by the pack for several feet. He strives to wrestle from their grip, but his small

Reuters General Motors plans to phase out widely used Apple CarPlay and Android Auto technologies that allow drivers to bypass a vehicle’s infotainment system, shifting instead to built-in infotainment systems developed with Google for future electric vehicles. Apple CarPlay and Android Auto systems allow users to mirror their smartphone screens in a vehicle’s dashboard display.

By Peter Valdes-Dapena, CNN Tesla has issued a recall for 35 of its new electric Semi trucks because the parking brake might not engage when applied by the driver. Tesla is not aware of any crashes or injuries that the problem might have caused. The danger, caused by a valve module that could leak air,

By Ella Nilsen, CNN When the Biden administration’s proposed rule for which vehicles qualify for its revamped EV tax credit goes into effect on April 18, the number of eligible cars will actually shrink. President Joe Biden and auto companies face a conundrum as they try to exponentially increase the number of electric vehicles on

By Matt Egan, CNN A US default would have such devastating economic and financial consequences that many observers dismiss the possibility out of hand. But investors are not ruling out such a nightmare scenario. Even though a default could wipe out millions of jobs and wreak havoc on Wall Street, the White House and Republican