Money

By Matt Egan and Phil Mattingly, CNN The White House is considering a number of senior officials in the federal government to replace top economist Brian Deese, including Federal Reserve Vice Chair Lael Brainard and deputy Treasury Secretary Wally Adeyemo, a person familiar with the matter told CNN on Wednesday. The process to replace Deese

By Chris Isidore, CNN Tesla is expected to report record earnings after the bell Wednesday, but it might not be enough to satisfy anxious investors. The company is facing growing doubts about its business after disappointing sales and a series of price cuts for its cars around the world. “I don’t think Q4 matters other

By Oliver Darcy, CNN Justin Bieber has sold the rights to his publishing and artist royalties from his song catalog, adding himself to a growing list of pop stars who have inked rights deals. Bieber sold his catalog to Hipgnosis, the music rights investment company announced Tuesday. “Justin is truly a once in a generation

By Matt McFarland, CNN Business Tesla CEO Elon Musk returned to the witness stand for a third day in a California court room Tuesday, as he testified in a class-action lawsuit over his controversial “funding secured” tweet from 2018. It will likely be Musk’s final day of testimony. Musk, Tesla and company directors are facing

By Nicole Goodkind, CNN The New York Stock Exchange experienced a technical issue Tuesday morning that led to a brief trading halt for dozens of major companies just after the market opened. As a result of the issue, some trades that occurred before the halt will be made “null and void,” according to an exchange

By Nicole Goodkind, CNN Big Tech earnings are here, and investors are hoping they don’t wreck the good vibes on Wall Street. Markets are coming off of one of their worst years in history, but have been positive in the first few weeks of 2023. Three giant tech earnings reports this week — Microsoft, Tesla

By Ramishah Maruf, CNN Citing “rising crime and vagrancy,” Chase Bank has shuttered 24-hour access to some of its New York ATMs. Select ATM vestibules are closing at 5 pm or 6 pm, aligning more closely with normal branch hours, the bank tweeted in response to a complaint last week. A JPMorgan Chase spokesperson said

By Chris Isidore, CNN Few top executives have ever failed in a job so quickly — or so lucratively — as Geoff Morrell. He became Disney’s chief corporate affairs officer January 24, 2022, and the company promptly announced Morrell’s departure in late April. Morrell made about $150,000 a day for that quick stint in charge

By Chloe Melas, CNN The Washington Post is not for sale, spokespeople for the newspaper and its owner Jeff Bezos told CNN on Monday. They denied a New York Post report, which cited unnamed sources, suggesting the billionaire could shed the newspaper to help fund a potential purchase of the Washington Commanders NFL team. Bezos

By Matt McFarland, CNN Business Tesla CEO Elon Musk took the witness stand for a second day on Monday and attempted to explain the thought process behind his controversial “funding secured” tweet from 2018, pushing back at the idea that it was partly a joke. Musk, Tesla and company directors are facing a shareholder lawsuit

By Matt Egan, CNN For the first time since the early days of the pandemic, most business economists expect their companies to cut payrolls in the coming months, according to a new survey released Monday. Just 12% of economists surveyed by the National Association for Business Economics (NABE) anticipate employment will increase at their firms

By Paul R. La Monica, CNN Software giant Salesforce, one of the 30 stocks in the venerable Dow Jones Industrial Average, had a miserable 2022. Now the company is under attack from a big hedge fund that wants to shake things up at the company that owns Slack. Elliott Management, a firm that has taken

By Nicole Goodkind, CNN ESG funds — investments that evaluate companies using environmental, social and governance factors — just survived a tumultuous 2022. They also managed to perform in line with the general market while doing so, and attract new money — a good sign for the future of responsible investing. What’s happening: Russia’s war

By Sophia Saifi, Azaz Syed and Rhea Mogul, CNN A nationwide power outage in Pakistan left nearly 220 million people without electricity on Monday, threatening to cause havoc in the South Asian nation already grappling with fuel shortages in the winter months. The country’s Ministry of Energy said in a statement the country’s National Grid

By Alicia Wallace, CNN After the United States hit its debt ceiling on Thursday, the Treasury Department is now undertaking “extraordinary measures” to keep paying the government’s bills. A default could be catastrophic, causing “irreparable harm to the US economy, the livelihoods of all Americans and global financial stability,” Treasury Secretary Janet Yellen has warned.

By Faith Karimi, CNN Ruja Ignatova strode onto the stage in a flowing burgundy ball gown adorned with black sparkles. Beams of light flashed, fireballs erupted and Alicia Keys’ “Girl on Fire” blared through the speakers. “Looks like a girl, but she’s a flame. So bright, she can burn your eyes — better look the

By Michelle Toh, CNN Eggs have soared in cost around the world over the past year as avian flu decimated chicken flocks and fallout from Russia’s war with Ukraine raised the prices of energy and animal feed. In the United States, egg prices have far surpassed the increase in other grocery items, soaring nearly 60%

By Faith Karimi, CNN College freshman Dieunerst Collin’s road to internet meme fame started with a confused side-eye at a Popeyes in New Jersey. It was a decade ago, and the then 9-year-old was in line waiting for a family pack of chicken, biscuits and fries at the fast-food chain in Irvington. A stranger pulled

By Nicole Goodkind, CNN Friday marks the end of the annual World Economic Forum meeting in Davos, Switzerland, an elite gathering of some of the wealthiest people and world leaders. The glitzy retreat into the Swiss Alps looks increasingly out of date as the biggest war in Europe since 1945 deepens splits in the world

By Michelle Toh, Yoonjung Seo and Jake Kwon, CNN South Korea’s leader is capping off a whirlwind week, after securing tens of billions of dollars in investment from the Middle East and vowing to have his country play a more important role in revitalizing international supply chains. On Monday, South Korean President Yoon Suk Yeol

By Kara Scannell, CNN Attorneys for disgraced FTX founder Sam Bankman-Fried urged the judge in his fraud case to keep the names of two people who co-signed his $250 million bond secret because of actual threats he says his family has received. Bankman-Fried’s lawyer said there was a “security incident” at his parents’ home where

By Alicia Wallace, CNN The Federal Reserve is seeing progress in its battle to bring down US inflation and remains laser-focused on reaching the Fed’s 2% target — but policy will have to remain restrictive for “some time” to come. That’s the message Thursday from Fed Vice Chair Lael Brainard, speaking at the University of

By Jordan Valinsky, CNN World Wrestling Entertainment executive chairman Vince McMahon has agreed to another multimillion-dollar legal settlement with a former female employee of the wrestling organization, according to the Wall Street Journal, which cited several anonymous sources familiar with the agreement. The Journal reported Thursday that McMahon completed a settlement last month with Rita