Money

By Alicia Wallace, CNN Treasury Secretary Janet Yellen said Monday she believes US inflation remains too high but that a soft landing is on the radar. During an exclusive interview with CNN’s Melissa Bell from Kyiv, Yellen said the Federal Reserve’s efforts to date to bring down inflation while maintaining a strong labor market appear

By Jon Passantino and Oliver Darcy, CNN Andrews McMeel Universal, the company that syndicates “Dilbert,” said it is cutting ties with the comic strip’s creator, Scott Adams, after his racist remarks about Black Americans led hundreds of newspapers across the country to drop the satirical cartoon. In a joint statement, Andrews McMeel Chairman Hugh Andrews

By Ramishah Maruf, CNN TD Bank will pay $1.2 billion to settle a lawsuit alleging its involvement in an infamous $7 billion Ponzi scheme orchestrated by disgraced financier Allen Stanford more than a decade ago. Toronto-Dominion Bank agreed to pay $1.205 billion to a court-appointed receiver who will in turn pay back victims of the

By Chris Isidore, CNN Union Pacific shares jumped 10% in premarket trading Monday after the railroad company announced CEO Lance Fritz, 60, will leave the company by year-end, following a call by an activist hedge fund for his ouster. Union Pacific just reported a record profit for the second straight year. But the hedge fund,

By Parija Kavilanz, CNN Adidas last year dumped Ye (formerly known as Kanye West) and his once hugely popular Yeezy clothing and sneaker brand because of his antisemitic remarks. But the controversy has seemingly spurred demand for the shoes. Yeezy sneakers currently are among the top three sellers on Impossible Kicks, a large online reseller

By Jordan Valinsky, CNN Elon Musk defended “Dilbert” creator Scott Adams after hundreds of newspapers stopped printing the comic strip because of Adams’ recent racist comments. Last week, Adams called Black Americans a “hate group” and suggested that White people should “get the hell away” from them. Adams effectively encouraged segregation in a shocking rant

By Jessie Yeung, CNN China is surging ahead with coal, a new report shows, rapidly approving and building new power plants despite its own promises to cut back on carbon as the world plunges ever deeper into the climate crisis. Last year, the country approved the highest number of new coal-fired power plants since 2015,

By Ramishah Maruf, CNN Warner Bros. Discovery filed a lawsuit against Paramount Friday, claiming the rival media company breached its half-billion-dollar exclusivity contract with HBO Max by airing “South Park” on its own streaming platform, Paramount+. HBO Max is a unit of Warner Bros. Discovery, which also owns CNN. Nearly all “South Park” episodes air

By Ramishah Maruf, CNN Missing Chinese CEO Bao Fan is cooperating in an investigation by “certain authorities in the People’s Republic of China,” his company said in a statement Sunday. China Renaissance Holdings Limited, of which Bao is the chairman and CEO, said the company has been trying to locate him and ascertain his status

by Oliver Darcy, CNN Newspapers across the country dropped the “Dilbert” comic strip over the weekend after the creator of the satirical cartoon went on a racist tirade, calling Black Americans a “hate group” and suggesting that White people should “get the hell away” from them. The USA Today Network, which operates hundreds of newspapers,

By Danielle Wiener-Bronner, CNN It’s never been easy to operate a restaurant, and in recent years it’s been even harder. In 2020, Covid restrictions ground the nation’s bustling restaurant industry to a halt. Since then, there have been significant signs of a rebound: Dining rooms have reopened and customers have returned to cafes, fine-dining establishments

By Anna Cooban, CNN A shortage of some fruits and vegetables in the United Kingdom that has prompted rationing at most major supermarkets could last until May, according to one of the country’s biggest groups of food producers. The Lea Valley Growers Association (LVGA) told CNN Friday that UK growers were not harvesting tomatoes, peppers

By Jordan Valinsky, CNN Business Roughly 2 million Cosori air fryers have been recalled because they pose a possible fire risk. The US Consumer Product Safety Commission said that consumers “should immediately stop” using the recalled air fryers and contact Cosori for a free replacement. The company set up a special website for customers to

By Nicole Goodkind, CNN Federal Reserve policy is based on trust. The central bank’s ability to maintain stable prices depends on the public’s confidence that it can deliver. But after more than a year of interest rate hikes and attempts to cool the economy, prices are still rising at a pace well above the Fed’s

By Jordan Valinsky, CNN Business Beer ads try to be funny, but a regulatory group has determined that Molson Coors went too far with a recent ad that compares rivals’ light beer to water. The National Advertising Division, which is part of the Better Business Bureau, sided with Anheuser-Busch, which challenged a 2022 ad for

By Rhea Mogul and Manveena Suri, CNN When dozens of security personnel crowded onto the runway of New Delhi’s Indira Gandhi Airport on Thursday, it was not to capture a terrorist or fleeing criminal mastermind, or even to apprehend an unruly passenger. It was to arrest an opposition politician who had allegedly “disturbed harmony” —

By Dave Alsup, CNN Amazon founder Jeff Bezos hired an investment firm to research a possible bid for the NFL Washington Commanders team, two people familiar with the situation told the Washington Post. The Washington Post, which Bezos owns, reported that the firm he is working with is New York-based Allen & Company, according to

By Oliver Darcy, CNN Business Carlos Watson, the founder and chief executive of the embattled Ozy Media, was arrested and charged with fraud this week, according to federal court records. Watson was accused in a federal indictment of having “engaged in a scheme to defraud OZY’s investors, potential investors, potential acquirers, lenders and potential lenders.”

By Nicole Goodkind, CNN There’s a new tussle brewing in the animal kingdom of Wall Street: Hawks vs. Bulls. Policymakers at the Federal Reserve have repeatedly signaled that interest rates will be higher for longer and that restrictive policy will inevitably cool the economy. Yet hope springs eternal for investors who have opted to ignore

By Anna Bahney, CNN The Biden administration announced Wednesday a change that will save an estimated 850,000 home buyers — primarily low- and middle-income and first-time buyers — an average of $800 on home financing costs this year. The move affects mortgage insurance premiums paid by new borrowers who take out loans insured by the

By Nicole Goodkind, CNN Forecasts from Walmart and Home Depot made for a grim day of trading on Tuesday. The mega retailers’ predictions of a weakening economy and a dip in consumer spending this year sent markets tumbling as Wall Street seemed to realize that the Federal Reserve’s campaign to quell inflation could yet lead

By Manveena Suri and Rhea Mogul, CNN A convicted killer and rapist revered by millions as a religious guru has temporarily walked free from jail in India for the fourth time in 12 months, angering activists who say it sets a dangerous precedent in a country grappling with violence against women. Gurmeet Ram Rahim Singh,

By Laura He, CNN Hong Kong’s Covid-hit economy will return to growth this year and expand by between 3.5% and 5.5%, as the city opens up and China’s economic outlook improves, Hong Kong’s financial secretary said on Wednesday. The Asian financial hub suffered a 3.5% contraction last year, as strict Covid restrictions and weakening global

By Ross Levitt, CNN The Department of Transportation’s internal watchdog said Tuesday it is launching a probe into the spike in flight cancellations and delays that have come in the wake of the pandemic. The Office of the Inspector General audit will focus on the federal agency’s role in these cancellations, rather than the airlines.