Money

By Nathaniel Meyersohn and Matt Egan, CNN Visa, Mastercard and Discover announced they will pause a plan to implement a new merchant category code for the nation’s gun retailers after political pressure from Republicans. The measure that was designed help flag potential mass shooters and gun traffickers. In the wake of mass shootings, some financial

By Oliver Darcy, CNN Fox Corporation CEO Lachlan Murdoch on Thursday dismissed the revelations from Dominion Voting Systems’ $1.6 billion defamation lawsuit against Fox News as “noise,” throwing his support behind the right-wing talk channel in his first comments since the case enveloped the company in major scandal. “I think a lot of the noise

By Anna Cooban, CNN After months of soaring stock prices, Europe’s defense companies hardly needed another boost. But a tentative €2 billion ($2.1 billion) European Union plan to procure ammunition for war-torn Ukraine may provide just that. EU defense ministers wrapped up a two-day summit in Sweden this week. The outcome was a provisional agreement

By Jordan Valinsky, CNN Business General Motors said in January it would save $2 billion without planning any layoffs. But on Thursday it said it was looking for workers to leave voluntarily. In a regulatory filing, the automaker said it was looking to save costs through attrition and a voluntary separation program in which eligible

By Nicole Goodkind, CNN Reddit investors have been the butt of many jokes over the last few years, but could these much-maligned meme traders have the last laugh? A surprising new survey finds that 58% of institutional investors — the professionals who trade on behalf of banks and pension funds, the so-called “smart money” —

By Hanna Ziady, CNN Credit Suisse can’t catch a break. In the latest piece of troubling news, the beleaguered Swiss bank has delayed the publication of its 2022 annual report following a “late call” from the US Securities and Exchange Commission on Wednesday evening. The SEC got in touch over revisions the bank had previously

By David Goldman, CNN The White House lashed out at Fox News host Tucker Carlson Wednesday in an extraordinary rebuke of the late-night commentator who has been airing false depictions of the January 6, 2021, attack this week. Carlson, given access to about 40,000 hours of US Capitol security camera footage by Republican House Speaker

By Danielle Wiener-Bronner, CNN Why aren’t prices falling at the grocery store? When food producers started raising prices a few years ago, they blamed their own costs, including higher ingredient prices. But ingredient prices have actually been on a downswing for months, and individuals are still paying more for food. In part, it’s because food

By Chris Isidore, CNN Federal safety regulators are investigating Tesla’s Model Y SUV after at least two instances in which owners said their steering wheels became detached while the vehicle was being driven. The National Highway Traffic Safety Administration is looking at the 2023 model year. It said in the two instances in which the

By Anna Cooban, CNN Adidas has warned that it could suffer its first annual operating loss in more than three decades this year, mostly because it may have to write off the entire range of Yeezy-branded clothing and sneakers. The German sportswear maker said Wednesday that it would face an operating loss of €700 million

By Nicole Goodkind, CNN Federal Reserve Chairman Jerome Powell on Tuesday cleared the way for larger interest rate hikes at this month’s central bank policy meeting, sending markets into a tailspin. In his remarks to the Senate Committee on Banking, Powell said that economically painful interest rate hikes are “likely to be higher than previously

By Julia Horowitz, CNN The International Monetary Fund has drawn criticism for forecasting that Russia will see stronger economic growth this year than either the United Kingdom or Germany, despite rising pressure from Western sanctions. But Kristalina Georgieva, the IMF’s managing director, told CNN’s Poppy Harlow that the economic outlook for Russia beyond 2023 is

By Oliver Darcy, Jon Passantino, Marshall Cohen, Nicki Brown, Kate Trafecante, Anna Bahney and Jeanne Sahadi, CNN A trove of text messages, emails, and other material from Fox News executives and on-air personalities were made public Tuesday as part of Dominion Voting Systems’ $1.6 billion defamation lawsuit against the right-wing channel. Among the the hundreds

By Gregory Wallace Citing the “number and significance of recent Norfolk Southern accidents,” federal investigators said Tuesday they will open a special investigation into the railway’s safety culture. The National Transportation Safety Board said the probe encompasses multiple incidents and three deaths since December 2021, including the toxic East Palestine derailment and the employee killed

By Nathaniel Meyersohn, CNN WeightWatchers is getting into the booming prescription weight loss drug business. The company, now known as WW International, will buy Sequence, a telehealth subscription service that connects patients with doctors who can prescribe weight-loss and diabetes drugs, including the hot new diabetes drug Ozempic. WeightWatchers offers subscribers meal plans and other

By Jordan Valinsky, CNN Business Bud Light Seltzer has a problem: People still think there’s beer in the spiked seltzer. More than half of the thousands of people Bud Light Seltzer surveyed incorrectly believe that the alcoholic seltzer contains beer, which is a self-admitted problem for the three-year-old brand because it’s a “barrier to people

By Nicole Goodkind, CNN Federal Reserve Chair Jerome Powell is on the hot seat this week as he testifies before Congress. Investors will be watching closely as they search for signs of future rate hikes. Powell is expected to speak before the Senate Banking Committee on Tuesday morning and the House Financial Services Committee on

By Pierre Bairin, Aurore Laborie and Hanna Ziady, CNN Oil refineries across France were blockaded Tuesday by workers taking part in a 1-million-strong protest against government plans to raise the retirement age. Mass strikes also left thousands without electricity and disrupted schools, airports and trains as the country’s biggest union CGT urged people to “bring

By Michelle Toh and Gawon Bae, CNN Kakao, one of South Korea’s top internet giants, has doubled down on its quest to take control of SM Entertainment, the iconic K-pop music agency. The tech firm announced Tuesday that it would seek to buy up to 35% of the music label, just days after a previous

By Laura He, CNN China’s leader Xi Jinping hit out at the United States with unusually direct comments as he called on the country’s private companies to “fight” alongside the Communist Party at a time of mounting challenges at home and abroad. “[In the past five years,] Western countries led by the United States have

By Rhea Mogul, CNN Firefighters in the southern Indian city of Kochi were toiling Tuesday to control toxic fumes from spreading after a landfill burst into flames five days ago, cloaking the area in a thick haze and choking residents. The towering Brahmapuram landfill in Kerala state is the country’s latest trash mountain to catch

By Alicia Wallace, CNN The US economy may still be running fast and strong, but its risk of suddenly falling into a recession still looms large, despite the Federal Reserve’s efforts, former Treasury Secretary Larry Summers warned Monday. Summers told CNN’s Poppy Harlow in an interview that he expects the Fed will have to raise

By Nicole Goodkind, CNN CNN anchor and chief national affairs analyst Kasie Hunt and husband Matthew Mario Rivera welcomed their second child to the world last week in an unforgettable way. Their daughter, Grey Hunt Rivera, was born at home on Wednesday morning after just 13 minutes of sudden labor — before there was time

By Nicole Goodkind, CNN Wall Street investors are gearing up for their version of Hell Week — a torrent of jobs data coming over the next few days could easily lead to volatile market swings. The unflinching resilience of the US labor market is one of — if not the — greatest source of tension

By Laura He, Simone McCarthy and Wayne Chang, CNN China has set an official economic growth target of “around 5%” for 2023, as it seeks to revive the world’s second-largest economy after a year of tepid growth because of pandemic measures. It will also expand its defense budget 7.2%, marking a slight increase over growth

By Ramishah Maruf, CNN Tesla is recalling 3,470 2022-2023 Model Y cars due to bolts in the second-row seat back frames not being secured properly. An estimated 4% of cars are affected, a recall report submitted in late February said. The loose bolts could cause the seat belts to not work properly in a crash,

By Chris Isidore, CNN Boeing CEO David Calhoun missed out on a $7 million bonus last year, but still got a raise. Boeing’s proxy filing Friday disclosed that when Calhoun started as CEO of Boeing in January of 2020, the board gave him a $7 million bonus package if he completed a list of goals

By Chris Isidore, CNN The nation’s major freight railroads have long desired to have only one crew member, a lone engineer, in the cab of their locomotives. And that desire hasn’t changed despite the derailment of a Norfolk Southern train on February 3 that released toxic chemicals into the air, water and soil of East