Money

By Danielle Wiener-Bronner Fifteen years ago, Howard Schultz reprised his role as Starbucks CEO, returning to the helm to help put the struggling company back on course. At the time, the coffee chain was flailing, facing growing competition, cooling customer interest and contending with the financial crisis. Last year he returned once again, as Starbucks

By Michelle Toh, CNN Standard Chartered is going on a hiring spree in Hong Kong this year, in a sign of renewed confidence in its biggest market as the city reopens its border with mainland China. The British bank said it would add 300 to 500 employees to its ranks of roughly 5,500 to 5,800.

By Oliver Darcy, CNN CNN anchor Don Lemon will return to the network’s air on Wednesday and will participate in formal training following sexist comments he made last week, the network’s chief executive, Chris Licht, said in an email to employees Monday night. “I sat down with Don and had a frank and meaningful conversation,”

By Jon Passantino, CNN James O’Keefe, the founder and chairman of Project Veritas — the right-wing activist group known for its selectively edited undercover sting videos targeting journalists and progressive groups — has been ousted from the organization, he told staff in a videotaped speech posted online Monday. “I’ve been stripped of my authority as

By Laura He, CNN Beijing will give out a $6 monthly cash subsidy to low-income residents to cushion the impact of rising food prices, a move that has unexpectedly angered many online who say the amount is far too low. The announcement from the city government comes as food inflation accelerated in China after policymakers

By Paul R. La Monica, CNN Warren Buffett is arguably the most legendary investor of all time. But the Oracle of Omaha has missed out on this year’s stock market rally. So far, at least. Shares of Buffett’s Berkshire Hathaway conglomerate, a company that owns businesses ranging from Geico and the Burlington Northern Santa Fe

By Nicole Goodkind, CNN Former Barclays CEO Jes Staley allegedly exchanged sexually suggestive emails with disgraced financier Jeffrey Epstein, some of which included photos of young women, according to newly unsealed passages of a federal lawsuit. Those email exchanges allegedly continued long after Epstein was convicted of sex crimes in 2008, the US Virgin Islands

By Oliver Darcy, CNN Business Fox News has been exposed like never before. A trove of newly-released text messages and emails have laid bare how the right-wing media giant operated with little regard for fact in the weeks and months following the 2020 presidential election. The correspondence reveals that the network’s senior-most executives and highest-profile

By Alicia Wallace, CNN Inflation may be cooling off overall, but the price of pet food, pet products and pet care services remains stubbornly high. What have you encountered in your ongoing care for your dog, cat or other pets? How have your household budget and financial decisions changed as they relate to your pet?

By Oliver Darcy, CNN CNN anchor Don Lemon apologized to his colleagues on Friday over sexist remarks he made on the network’s morning show about when women are “in their prime,” telling staffers during the company’s daily editorial meeting that he was sorry for offending them. “I’m sorry that I said it,” Lemon said. “And

By Anna Cooban, CNN London’s premier stock index is roaring back to life as investors turn their backs on Big Tech to favor old-time bank, oil and mining stocks. The FTSE 100, whose constituent companies are collectively valued at $2 trillion, hit an all-time high of 8,013 points on Thursday, notching its eighth such feat

By Nicole Goodkind, CNN Better Call Saul, The Colbert Report, Law & Order: SVU — Sometimes a spinoff is just as good as the original. Wall Street has seemingly taken that lesson to heart. Corporate spinoff activity surged by 33% in 2022 to its second-highest level on record, according to a new analysis by Goldman

By Laura He, CNN The property market in China is so depressed that some banks are resorting to drastic measures, including allowing people to pay off mortgages until they are 95 years old. Some banks in the cities of Nanning, Hangzhou, Ningbo and Beijing have extended the upper age limit on mortgages to between 80

By Michelle Toh, CNN One of China’s top investment bankers has become unreachable, according to his company. China Renaissance, an investment bank and private equity firm based in Beijing, said in a Thursday filing to the Hong Kong stock exchange that it “has been unable to contact” Bao Fan, its chairman and CEO. Shares of

By Chris Stern, Inke Kappeler and Olesya Dmitracova, CNN Lufthansa has canceled more than 1,300 flights scheduled for Friday after the Verdi labor union called for full-day strikes involving airport workers at seven German airports, including Frankfurt, Munich and Hamburg. Lufthansa, one of Europe’s biggest airlines, was ceasing all flight operations at Frankfurt and Munich

By Alicia Wallace, CNN Americans continued to add to their debt at the end of last year — and grew their credit card balances at record rates, according to data released Thursday by the Federal Reserve Bank of New York. Total US household debt hit a record $16.9 trillion during the fourth quarter, an increase

By Parija Kavilanz, CNN The fierce storms and heavy rain that have pounded California in recent weeks could be the lifeline that one industry — and the communities that rely on it for their own survival — desperately needs. After years of drought, California has received an epic amount of rain already in 2023. While

By Wayne Chang and Simone McCarthy, CNN China has imposed sanctions on two American defense manufacturers over arms sales to Taiwan, a day after Beijing pledged to take “countermeasures” in response to Washington’s handling of a suspected Chinese surveillance balloon that entered American airspace and was shot down by US forces earlier this month. Lockheed

By Michelle Toh, CNN Starbucks will open more than 400 stores across Asia Pacific in 2023, marking its biggest expansion in the region in five years. The coffee chain plans to add the new outlets in India, Indonesia, Thailand, Malaysia, Laos and the Philippines, where it aims to expand beyond major cities. It will open

By Manveena Suri, Kunal Sehgal and Rhea Mogul, CNN Indian tax officials have ended their days-long search of the BBC’s offices in New Delhi and Mumbai, the British broadcaster announced Thursday. Officials had spent three days raiding the spaces following the country’s ban on a BBC documentary that was critical of Prime Minister Narendra Modi’s

By Kara Scannell and Allison Morrow, CNN A federal judge released the names of two people who co-signed Sam Bankman-Fried’s $250 million bail deal, which allowed him to be released on house arrest while he awaits trial on federal fraud and conspiracy charges. In documents made public Wednesday afternoon, the court revealed that Larry Kramer,

By Paul R. La Monica, CNN Charlie Munger, the 99-year-old vice chairman of Berkshire Hathaway and longtime friend and business associate of Warren Buffett, said that he’s still a fan of many big bank stocks, even as Berkshire Hathaway has trimmed its top financial holdings. He also stepped up his long-time criticism of cryptocurrencies. “I

By Chris Isidore, CNN Airbnb shares posted their biggest one-day gain in trading Wednesday after the home rental service posted its first annual profit and forecast a sunny travel outlook in 2023 and an uptick in listings. The company reported it earned $1.9 billion in 2022, compared to a $352 million loss a year earlier.

By Chris Isidore, CNN Tesla CEO Elon Musk gave 11.5 million shares of his stake in the electric automaker to an undisclosed charity last year, shares worth about $1.9 billion at the time they were donated. The donation would make him the second largest charitable donor in 2022, according to a ranking of the Chronicle

By Hanna Ziady, CNN US group Cleveland Clinic will open its third London facility this autumn as demand for private health care booms in the United Kingdom — sparked in large part by long wait times to access treatment on the National Health Service (NHS). The new 13,000-square foot facility will provide patients appointments with

By Anna Cooban, CNN Turkey’s stock market soared Wednesday on the first day of trading after a suspension triggered by a devastating earthquake. Shares on Istanbul’s stock exchange rose 9.8% by mid-afternoon. On Tuesday, authorities intervened to boost stock buying: The government announced measures to encourage companies to buy back their shares and ordered pension

By Wayne Chang and Simone McCarthy, CNN A protest broke out in central China’s Wuhan on Wednesday as elderly residents showed their discontent with a local government reform to public health insurance that came into effect earlier this month. Photos and videos of the demonstration in Wuhan circulating on social media and seen by CNN

By James Frater and Alex Hardie, CNN The European Union is setting up a working group to examine whether frozen Russian assets can be used to rebuild Ukraine. The group will carry out a “legal, financial, economic and political analysis” to assess this possibility, the Swedish government said in a statement Tuesday. Sweden currently holds

By Kathleen Magramo, CNN Hong Kong real estate is the most expensive in the world, but it wasn’t eye watering prices that took investors by surprise this week. A public tender spelling out the details of a government land sale in the city’s Kowloon district states that prospective buyers can be disqualified if they or

By Gregory Wallace, CNN Citing a series of recent aviation safety incidents, the head of the Federal Aviation Administration has ordered a sweeping review of the agency. “We are experiencing the safest period in aviation history, but we cannot take this for granted,” Billy Nolen, the acting FAA administrator, wrote in a memo. “Recent events