Money Archives

Elon Musk gives ultimatum to Twitter employees: Do ‘extremely hardcore’ work or get out

November 4, 2022 5:48 PM CNN

By Donie O’Sullivan and Clare Duffy, CNN Business Twitter’s new owner Elon Musk has given employees until Thursday evening to commit to…

Elon Musk’s Twitter lays off employees across the company

November 4, 2022 3:07 PM CNN

By Donie O’Sullivan and Clare Duffy, CNN Twitter on Friday laid off employees in departments across the company, in a severe round of cost…

Railroad unions push back threatened strike date

November 4, 2022 2:36 PM CNN

By Chris Isidore and Vanessa Yurkevich, CNN Business The threat of a freight railroad strike has been pushed back to early December, as four major…

Labor Secretary says Congress needs to block rail strikes without new deals

November 4, 2022 2:36 PM CNN Newsource

By Chris Isidore, CNN Business Labor Secretary Marty Walsh says he hopes negotiators between railroads and some rail unions can reach new labor deals…

Helicopter misses rocket booster in wild attempt to recapture it after flight

November 4, 2022 1:53 PM CNN Newsource

By Jackie Wattles, CNN Business Rocket Lab, a start-up building small orbital rockets, kicked off another successful mission on Friday — but it…

Georgia shoe manufacturer lays off most of workforce after Adidas stops Yeezy production

November 4, 2022 12:36 PM CNN Newsource

By Melissa Alonso, CNN Okabashi, an Adidas manufacturing partner and family-owned footwear company in Buford, Georgia, has laid off 142 employees as…

Puma’s outgoing CEO could lead rival Adidas next

November 4, 2022 10:46 AM CNN Newsource

By Julia Horowitz, CNN Business Adidas could snap up the boss of crosstown rival Puma to succeed outgoing CEO Kasper Rorsted. The sportswear company…

Mixed bag for jobs: Employers keep hiring, but unemployment rises

November 4, 2022 9:25 AM CNN

By Chris Isidore, CNN Business The white-hot US labor market is showing signs of cooling, with the Labor Department reporting Friday a slower pace of…

What’s behind wide salary ranges after New York’s pay transparency law

November 4, 2022 7:01 AM CNN

By Jeanne Sahadi, CNN Business It’s not unusual for two people with the same title to be paid somewhat different salaries. Pay, after all, is…

Stocks in Hong Kong log best week in more than a decade

November 4, 2022 6:41 AM CNN Newsource

By Julia Horowitz, CNN Business Global investors have two big questions on their minds: When will the Federal Reserve become less aggressive in its…

Elon Musk said Twitter has seen a ‘massive drop in revenue’ as more brands pause ads

November 4, 2022 6:14 AM CNN Newsource

By Clare Duffy and Catherine Thorbecke, CNN Elon Musk said Friday that Twitter has seen a “massive drop in revenue,” as a growing number…

Mixed bag for jobs: Employers keep hiring, but unemployment rises

November 4, 2022 3:45 AM CNN Newsource

By Chris Isidore, CNN Business The white-hot US labor market is showing signs of cooling, with the Labor Department reporting Friday a slower pace of…

Elon Musk said Twitter has seen a ‘massive drop in revenue’ as more brands pause ads

November 3, 2022 7:12 PM CNN

By Clare Duffy and Catherine Thorbecke, CNN Elon Musk said Friday that Twitter has seen a “massive drop in revenue,” as a growing number…

Elon Musk’s Twitter lays off employees across the company

November 3, 2022 6:54 PM CNN Newsource

By Donie O’Sullivan and Clare Duffy, CNN Twitter on Friday laid off thousands of employees in departments across the company, in a severe round…

America’s housing dream is broken

November 3, 2022 6:07 PM CNN Newsource

By Allison Morrow, CNN Business A little over a decade ago, the dominant narrative about the housing market was that Millennials simply weren’t…

America’s housing dream is broken

November 3, 2022 6:07 PM CNN

By Allison Morrow, CNN Business A little over a decade ago, the dominant narrative about the housing market was that Millennials simply weren’t…

Elon Musk wants Twitter users to pay to be verified. It could create a new set of headaches for the company

November 3, 2022 3:55 PM CNN Newsource

By Clare Duffy, CNN Business In 2009, after Twitter was sued by then-St. Louis Cardinals manager Tony La Russa for being impersonated on the…

Two $100,000 winning tickets sold in Idaho

November 3, 2022 2:15 PM News Team

As the Powerball jackpot soars to $1.5 billion, Idaho schools and businesses are benefiting from the increase in participation and game…

Lyft to lay off 13% of staff

November 3, 2022 12:02 PM CNN Newsource

By Catherine Thorbecke, CNN Business Lyft on Thursday said it will lay off 13% of its staff, or nearly 700 employees, as it rethinks staffing amid…

Amazon will pause corporate hiring for months

November 3, 2022 12:11 PM CNN Newsource

By Catherine Thorbecke, CNN Business Amazon is pressing pause on corporate hiring and expects to keep the policy in place for months, in the latest…

The chicken sandwich isn’t enough for Popeyes anymore

November 3, 2022 12:38 PM CNN Newsource

By Danielle Wiener-Bronner, CNN Business When Popeyes launched its crispy chicken sandwich in 2019, the menu item sold out in just two weeks. When it…

Holiday sales expected to increase this year, but shoppers will lean on savings and credit to afford gifts

November 3, 2022 1:12 PM CNN Newsource

By Parija Kavilanz, CNN Business Families may not skimp on holiday gifts for their loved ones this year, but they’ll likely slim down their…

From public education to Special Olympics: How 7 states spend millions from lottery ticket sales

November 2, 2022 11:41 PM Stacker

OddsSeeker.com reviewed news and information on the various uses of lottery funds among the 50 U.S. states, according to the North American…

CNBC axes Shepard Smith’s news program amid broader ‘strategic realignment’

November 3, 2022 11:01 AM CNN Newsource

By Oliver Darcy, CNN Business Shepard Smith will exit CNBC later this year after the business-focused news network announced on Thursday that it will…

Glencore fined $314 million for ‘endemic’ bribery of African oil officials

November 3, 2022 10:36 AM CNN Newsource

By Anna Cooban, CNN Business Commodities giant Glencore has been ordered to pay a record £281 million ($314 million) penalty by a UK court for…

Mortgage rates dip back below 7%

November 3, 2022 8:00 AM CNN Newsource

By Anna Bahney, CNN Business Mortgage rates fell this week after surpassing 7% for the first time in 20 years last week. The 30-year fixed-rate…

What to look for in the last jobs report before the midterms

November 3, 2022 3:43 AM CNN Newsource

By Allison Morrow, CNN Business When the Bureau of Labor Statistics releases its October jobs report on Friday, it will be the last major read of the…

Netflix launches ‘Basic with Ads’ — its much anticipated commercial-supported plan

November 3, 2022 7:38 AM CNN Newsource

By Frank Pallotta, CNN Business In 2019, Netflix said in a letter to shareholders “we… are advertising free,” and added that being…

First-time homebuyers are being shut out of the market like never before

November 3, 2022 8:03 AM CNN

By Anna Bahney, CNN Business If you bought your first home during the past year, consider yourself one of the fortunate few. Skyrocketing home prices…

Here’s how to get a free sandwich on National Sandwich Day

November 3, 2022 8:53 AM CNN Newsource

By Parija Kavilanz, CNN Business Who can resist a sandwich — especially if it’s free? November 3rd marks National Sandwich Day (yes,…

Here’s why 75% of likely voters think we are in a recession — even though we’re probably not

November 3, 2022 9:29 AM CNN Newsource

By Allison Morrow, CNN Business A new CNN poll shows that three-quarters of likely voters feel like the US economy is in a recession. It’s…

An estimated $1.5 billion is in play after Wednesday’s Powerball drawing brings no winning tickets

November 2, 2022 11:31 PM CNN Newsource

By Travis Caldwell and Chris Boyette, CNN Powerball players — your chance at winning “Who Wants to Be a Billionaire” continues for…

Grocery prices are soaring. But this food favorite is getting cheaper

November 2, 2022 11:38 AM CNN Newsource

By Parija Kavilanz, CNN Business There’s at least one item in the grocery store that is getting less expensive: avocados. A significant supply…

TikTok makes clear European data can be accessed by China-based employees

November 3, 2022 8:13 AM CNN Newsource

By Brian Fung, CNN TikTok updated its privacy policies for European users on Tuesday, adding explicit disclosures that personal data from the app may…

New York Attorney General Letitia James secures $523 million from Teva Pharmaceuticals for role in opioid crisis

November 3, 2022 7:21 AM CNN Newsource

By Kristina Sgueglia, CNN The New York Attorney General’s office announced it has secured $523 million from Teva Pharmaceuticals and affiliates…

First-time homebuyers are being shut out of the market like never before

November 3, 2022 7:01 AM CNN Newsource

By Anna Bahney, CNN Business If you bought your first home during the past year, consider yourself one of the fortunate few. Skyrocketing home prices…

Wall Street is bracing for a potential game changer, but it’s not the election

November 3, 2022 6:17 AM CNN

By Matt Egan, CNN Business Wall Street is waiting for the results of Tuesday’s midterm election like the rest of the world, but traders say…

Did Jerome Powell just bust the stock market rally?

November 3, 2022 6:17 AM CNN Newsource

By Julia Horowitz, CNN Business Federal Reserve Chair Jerome Powell has the power to make or break markets these days. On Wednesday, he opted to…

Bank of England sets biggest rate hike in 33 years and warns of a long recession

November 3, 2022 6:02 AM CNN Newsource

By Hanna Ziady and Julia Horowitz, CNN Business The Bank of England raised interest rates by three quarters of a percentage point on Thursday, the…

Les Moonves, CBS to pay $30 million in settlement with NY AG over sexual misconduct allegations

November 2, 2022 6:55 PM CNN Newsource

By Frank Pallotta, CNN Business Leslie Moonves, former chief executive officer of CBS, and CBS reached a $30.5 million settlement with the office of…

What rising interest rates mean for you

November 2, 2022 1:29 PM CNN Newsource

By Jeanne Sahadi, CNN Business The Federal Reserve raised its benchmark interest rate for the sixth time in a row on Wednesday, to a range of 3.75%…

TikTok makes clear European data can be accessed by China-based employees

November 2, 2022 12:03 PM CNN

By Brian Fung, CNN TikTok updated its privacy policies for European users on Tuesday, adding explicit disclosures that personal data from the app may…

Thanksgiving dinner will be a lot more expensive this year, report finds

November 2, 2022 1:20 PM CNN Newsource

By Danielle Wiener-Bronner, CNN Business Looks like Thanksgiving will be a lot pricier this year. Market research firm IRI predicts that your…

What will the Fed do next? Follow the economy, not what Jerome Powell says

November 2, 2022 1:51 PM CNN

By Paul R. La Monica, CNN Business The stock market has been on a roller coaster ride, largely because of Wall Street’s shifting expectations…

Thanksgiving dinner will be a lot more expensive this year, report finds

November 2, 2022 1:20 PM CNN

By Danielle Wiener-Bronner, CNN Business Looks like Thanksgiving will be a lot pricier this year. Market research firm IRI predicts that your…

Biden’s stock market record so far is the second worst since Jimmy Carter

November 2, 2022 12:10 PM CNN

By Matt Egan, CNN Business The stock market started the Biden era with a boom. But it heads into the midterm election looking more like a bust.…

FCC commissioner calls for TikTok ban

November 2, 2022 12:03 PM CNN Newsource

By Brian Fung, CNN The US government should ban TikTok rather than come to a national security agreement with the social media app that might allow…

Ford October sales slide 10% largely due to supply chain issues

November 2, 2022 10:10 AM CNN Newsource

By Michael Ballaban, CNN Business Ford saw its October US sales slump 10% over the last year as the company continued to battle supply chain…

Twitter’s C-suite clears out as Musk cements power over the company

November 2, 2022 11:20 AM CNN Newsource

By Clare Duffy, CNN Business On October 27, the same day Elon Musk completed his $44 billion deal to buy Twitter, the company’s chief customer…

This is what Starbucks’ 25th anniversary holiday cups look like

November 2, 2022 3:50 AM CNN Newsource

By Jordan Valinsky, CNN Business This year marks the 25th anniversary of Starbucks’ holiday cups, an annual tradition that unofficially rings…

The Fed makes history with a fourth straight three-quarter-point rate hike

November 2, 2022 4:08 AM CNN Newsource

By Nicole Goodkind, CNN Business The Federal Reserve approved a fourth-straight rate hike of three-quarters of a percentage point on Wednesday as…

Workers vote against first unionizing effort at Home Depot

November 2, 2022 5:42 AM CNN

By Chris Isidore, CNN Business Workers at a Home Depot in Philadelphia overwhelmingly voted against becoming the first store in the chain to be…

From Apple to Disney, China’s Covid curbs are again hurting business

November 2, 2022 6:09 AM CNN Newsource

By Diksha Madhok and CNN’s Beijing bureau It has been almost three years since Covid-19 first hit China, but the country’s relentless…

Elon Musk hints that Donald Trump will not be back on Twitter before the midterms

November 2, 2022 8:47 AM CNN Newsource

By Clare Duffy, CNN Business Elon Musk indicated on Wednesday that the Twitter account of former President Donald Trump will not be restored ahead of…

A recession in the US is not a slam dunk, Goldman Sachs says

November 1, 2022 4:37 PM CNN

By Matt Egan, CNN Business While investors, business leaders and some economic models continue to warn a recession is imminent, Wall Street’s…

Shipping giant Maersk warns of ‘dark clouds on the horizon’

November 2, 2022 9:54 AM CNN Newsource

By Julia Horowitz, CNN Business The spike in shipping rates since the onset of the pandemic has been a huge boon for Maersk. But the Danish shipping…

A decade of rising house prices is over. The UK economy will feel the pain

November 2, 2022 7:30 AM CNN Newsource

By Anna Cooban and Hanna Ziady, CNN Business For years, home ownership in Britain has been a one-way bet. Prices have climbed steadily since the…

These baristas are leading a nationwide campaign to unionize Starbucks. It came at a cost

November 2, 2022 5:42 AM CNN Newsource

By Chris Isidore, CNN Business They came from very different backgrounds and different parts of the country, each with different reasons for seeking…

Wall Street’s recent love affair with the Fed could turn on a dime

November 2, 2022 5:00 AM CNN Newsource

By Nicole Goodkind, CNN Business Fed decision day is here — and so is some potential bad news for the market. That’s because investors have…

‘The worst is behind us’: Hong Kong hosts top global bankers for finance summit

November 1, 2022 11:50 PM CNN Newsource

By Michelle Toh, CNN Business Hong Kong leader John Lee sought to drum up confidence in the city’s future as a global financial hub on…

Spotify is going to war with Apple after the App Store rejected its big new feature

November 1, 2022 8:24 PM CNN Newsource

By Oliver Darcy, CNN Business Spotify is looking to give Apple a good bruising in the press. The music streamer is taking its grievances with the…

Former Treasury Secretary Larry Summers urges Fed to keep hiking rates

November 1, 2022 4:37 PM CNN Newsource

By Nicole Goodkind, CNN Business Former US Treasury Secretary Larry Summers said on Tuesday that the growing chorus of economists and politicians…

United pilots reject contract as airline negotiations ramp up

November 1, 2022 3:19 PM CNN Newsource

by Greg Wallace, CNN A shortage of airline pilots is leading pilots at America’s largest carriers to push for better pay and benefits. The…

Self-driving cars were supposed to take over the road. What happened?

November 1, 2022 1:53 PM CNN Newsource

By Matt McFarland, CNN Business For over a decade, companies from Google to General Motors have poured billions of dollars into the pursuit of what…

Elizabeth Warren to Jerome Powell: Just how many jobs do you plan to kill?

November 1, 2022 12:40 PM CNN Newsource

By Matt Egan, CNN Business As the Federal Reserve kicks off another pivotal rate-setting meeting, lawmakers are reminding the central bank exactly…

Twitter founder Jack Dorsey to remain invested in the company under Elon Musk

November 1, 2022 12:23 PM CNN Newsource

By Clare Duffy, CNN Business Twitter co-founder and former CEO Jack Dorsey stepped down from the company’s board earlier this year, but…

Where are the unicorns? The IPO market has unraveled this year

November 1, 2022 10:43 AM CNN Newsource

By Paul R. La Monica, CNN Business Wall Street bulls may have come thundering back in October as bears appear to have gone into hibernation. But…

SpaceX’s Falcon Heavy rocket, world’s most powerful rocket, launches after three-year hiatus

November 1, 2022 10:19 AM CNN

By Jackie Wattles, CNN SpaceX’s Falcon Heavy — a towering, three-pronged vehicle that is the most powerful operational rocket in the world…

Chick-fil-A operator has a winning recipe for employees: three-day workweek

October 31, 2022 2:13 PM CNN Newsource

By Parija Kavilanz, CNN Business What staffing shortage? One Miami Chick-fil-A owner/operator has been deluged with applications after switching his…

Workers flee China’s biggest iPhone factory over Covid outbreak

November 1, 2022 5:43 AM CNN

By Diksha Madhok, Michelle Toh and CNN’s Beijing bureau Foxconn, one of Apple’s largest suppliers, is wrestling with major disruption at…

SpaceX’s Falcon Heavy rocket, world’s most powerful rocket, launches after three-year hiatus

November 1, 2022 5:47 AM CNN Newsource

By Jackie Wattles, CNN SpaceX’s Falcon Heavy — a towering, three-pronged vehicle that is the most powerful operational rocket in the world…

Why America’s job market hasn’t imploded

November 1, 2022 6:34 AM CNN Newsource

By Nicole Goodkind, CNN Business Despite a stock-market bounce in October that gave the Dow its biggest monthly gain in more than 45 years,…

Uber revenue jumps 72% on strong demand for rides

November 1, 2022 6:44 AM CNN Newsource

By Catherine Thorbecke, CNN Business If a recession is looming, you wouldn’t know it from looking at Uber’s business. Uber on Tuesday…

The number of job openings rose unexpectedly in September, despite the Fed’s aggressive actions

November 1, 2022 8:05 AM CNN Newsource

By Alicia Wallace, CNN Business The number of available jobs in the United States increased in September, surprising economists who had expected the…

Don’t worry, you can still get a great return on these inflation-protected bonds

November 1, 2022 8:06 AM CNN Newsource

By Jeanne Sahadi, CNN Business There are few places to keep your cash these days that can protect your money from inflation. And while you might have…

Musk says Twitter will charge $8 a month for account verification after criticism for $19.99 plan

November 1, 2022 8:19 AM CNN Newsource

By Jennifer Korn After facing criticism for his plan to charge Twitter users $19.99 a month to get or keep a verified account, Elon Musk has a…

Powerball jackpot climbs to $1.2 billion after Halloween drawing haunts players with no winner yet again

October 31, 2022 7:06 PM CNN Newsource

By Elizabeth Wolfe, CNN After no lucky trick-or-treater scored Monday night’s billion-dollar Powerball jackpot, players will have to vie for…

Biden’s oil windfall tax would backfire, warns Larry Summers

November 1, 2022 8:01 AM CNN Newsource

By Matt Egan, CNN Business Economist Larry Summers is pushing back after President Joe Biden floated the possibility of punishing the oil industry…

After Elon Musk’s antics on Twitter, advertisers may think twice for now

November 1, 2022 7:27 AM CNN Newsource

By Clare Duffy, CNN Business Hours before news broke on Thursday that he had completed his $44 billion acquisition of Twitter, Elon Musk wrote an…

After Elon Musk’s antics on Twitter, advertisers may think twice for now

November 1, 2022 7:06 AM CNN

By Clare Duffy, CNN Business Hours before news broke on Thursday that he had completed his $44 billion acquisition of Twitter, Elon Musk wrote an…

Workers flee China’s biggest iPhone factory over Covid outbreak

November 1, 2022 5:43 AM CNN Newsource

By Diksha Madhok, Michelle Toh and CNN’s Beijing bureau Foxconn, one of Apple’s largest suppliers, is wrestling with major disruption at…

US debt: Federal interest payments could soon exceed military spending

November 1, 2022 4:13 AM CNN Newsource

By Matt Egan, CNN Business The Federal Reserve’s war on inflation isn’t just painful for home buyers and people with credit card debt.…

BP announces $2.5 billion share buyback after profit soars

November 1, 2022 4:03 AM CNN Newsource

By Hanna Ziady, CNN Business BP’s profit more than doubled in the third quarter of the year, extending a bumper run of earnings for the…

Oleg Tinkov renounces Russian citizenship over war in Ukraine

November 1, 2022 3:39 AM CNN Newsource

By Mark Thompson, Mayumi Maruyama and Alex Stambaugh, CNN Oleg Tinkov, the founder of a major Russian digital bank, has renounced his Russian…

What we know about India’s deadly bridge collapse

November 1, 2022 12:25 AM CNN Newsource

By Rhea Mogul, Manveena Suri and Swati Gupta, CNN More than 50 children are among 135 people killed in Sunday’s bridge collapse in…

Judge blocks Penguin Random House’s purchase of Simon & Schuster

October 31, 2022 6:30 PM CNN Newsource

By CNN Business staff A federal judge blocked Penguin Random House from buying Simon & Schuster, arguing that the combination of the two book…

Delta pilots say they’re willing to strike, but no impact to Thanksgiving travel is expected

October 31, 2022 4:42 PM CNN Newsource

By Pete Muntean, CNN Delta Air Lines pilots intensified their push for improved pay by insisting they will strike if they do not get a new contract.…

Senate Democrat wants national security investigation of Saudi Arabia’s role in Elon Musk-Twitter deal

October 31, 2022 12:26 PM CNN Newsource

By Matt Egan Democratic Sen. Chris Murphy is calling on the federal government to investigate national security concerns raised by Saudi…

Want a blue check mark on Twitter? It may soon cost you $19.99 a month

October 31, 2022 9:37 AM CNN Newsource

By Donie O’Sullivan and Jennifer Korn, CNN Twitter is considering offering verified accounts to users who are willing to pay $19.99 a month for…

Wheat and corn prices jump after Russia quits Black Sea grain deal

October 31, 2022 4:12 AM CNN Newsource

By Hanna Ziady, CNN Business Prices of wheat and corn on global commodities markets rose on Monday after Russia pulled out of a deal that had allowed…

Instagram goes down for some users

October 31, 2022 9:41 AM CNN Newsource

By Catherine Thorbecke Thousands of Instagram users reported issues with accessing the platform on Monday morning. Approximately 7,000 users reported…

A spooky forecast for the future of interest rates

October 31, 2022 5:37 AM CNN Newsource

By Nicole Goodkind, CNN Business When will central banks stop raising interest rates? That’s the multi-trillion dollar question that has Wall…

Inflation isn’t going anywhere. Just look at the latest data from Europe

October 31, 2022 5:41 AM CNN

By Julia Horowitz, CNN Business European inflation has accelerated to a new record high as energy and food prices in the region continue to…

The Fed may have to blow up the economy to get inflation under control

October 30, 2022 10:11 AM CNN Newsource

By Paul R. La Monica, CNN Business The Federal Reserve is most likely going to raise interest rates by three quarters of a percentage point again on…

The Happy Meal inventor says McDonald’s didn’t want it at first

October 29, 2022 3:02 AM CNN Newsource

By Nathaniel Meyersohn, CNN Business McDonald’s said this week that it sold half of its new Happy Meals geared toward adults –Cactus…

Elon Musk wants Twitter users to pay to be verified. It could create a new set of headaches for the company

October 31, 2022 9:37 AM CNN

By Clare Duffy, CNN Business In 2009, after Twitter was sued by then-St. Louis Cardinals manager Tony La Russa for being impersonated on the…

Elon Musk disbands Twitter’s board, cementing control over company

October 31, 2022 9:25 AM CNN Newsource

By Clare Duffy, CNN Business Twitter’s board of directors was dissolved on Thursday following Elon Musk’s takeover of the company,…

Elon Musk, Twitter’s new owner, tweets conspiracy theory about attack on Paul Pelosi

October 31, 2022 9:09 AM CNN

By Oliver Darcy and Donie O’Sullivan, CNN Elon Musk on Sunday gave credence to a fringe conspiracy theory about the violent attack on Paul…

Dow has biggest monthly gain in more than 45 years

October 31, 2022 8:25 AM CNN Newsource

By Paul R. La Monica, CNN Business The Dow fell nearly 130 points, or 0.4% Monday, but it still ended October up 14% — its best monthly gain since…

Inflation isn’t going anywhere. Just look at the latest data from Europe

October 31, 2022 5:09 AM CNN Newsource

By Julia Horowitz, CNN Business European inflation has accelerated to a new record high as energy and food prices in the region continue to…