Money

By David Goldman, CNN Business In some parts of snow-buried America, last-minute Christmas gifts are turning into early New Year’s presents. A massive winter storm that blasted much of the United States with brutal winter weather has forced shipping companies to ground planes, close package facilities and keep its trucks off the road. The dangerous

By Paul R. La Monica, CNN Investors saw a lot of red in 2022. But a company known for its magenta logo was a stock market darling this year. Shares of T-Mobile rose about 20% in 2022, even as rivals AT&T and Verizon tumbled. Ma Bell was down about 2% while Verizon plunged more than

By Laura He, CNN China’s economy is under severe strain as a wave of Covid cases sweeps across the country. Since the world’s second largest economy drastically eased its Covid restrictions earlier this month, there has been no clear data on the extent of the virus’ spread on the national level. But several cities and

By Nathaniel Meyersohn, CNN Drive down any highway in America or turn on the TV for 10 minutes and you’ll probably see an advertisement for a personal injury lawyer. “Hurt in car crash? Injured on the job? Slipped in the store? Call this lawyer to get compensated now,” a typical ad for a plaintiff’s personal

By Alicia Wallace, CNN The trend is clear: Inflation is cooling off in America. The Federal Reserve’s preferred measurement of inflation showed price increases continued to moderate in November, providing yet another welcome indication that the period of painfully high prices has peaked. The Personal Consumption Expenditures price index, or PCE, rose 5.5% in November

By Chris Isidore, CNN If you’re hoping that your last-minute Christmas gift will arrive on time, you may be out of luck. Amazon, the US Postal Service, UPS and FedEx are all warning that the winter storm hitting large swaths of the United States is disrupting operations in the final delivery days before Christmas. “FedEx

By Hanna Ziady, CNN Brits hoping for a new-year salary bump to offset soaring food and energy costs may be disappointed. The average British worker’s pay in 2023 is expected to fall back to 2006 levels once inflation is taken into account, according to PwC. Real wages, which factor in inflation, are expected to fall

By Danielle Wiener-Bronner, CNN Comically oversized snack foods. A cocktail infused with processed cheese. And a fine dining establishment for feline lovers. In 2022, there were plenty of restaurants, food manufacturers and at least one artist collective that tried to break through with their shenanigans. These food stunts were often outrageous and sometimes regrettable. But

By Inke Kappeler, Xiaofei Xu and Anna Cooban, CNN Pig herds in Germany have shrunk to a record low as producers battle soaring input costs, adding to the list of German industries hobbled by the energy crisis. Pig stocks and the number of pig farm farms fell “because of the persistently difficult economic situation,” the

By Alicia Wallace, CNN Last year, bonuses were bountiful. This year, economic uncertainty is bringing a chill to the holiday-season perk, according to survey data released Thursday by Challenger, Gray & Christmas. More than 81% of the 252 employers surveyed by the outplacement firm said they planned to freeze the value of holiday bonuses at

By Kara Scannell, CNN Sam Bankman-Fried, the disgraced founder of crypto exchange FTX, appeared in a US courtroom in New York Thursday to face eight counts of fraud and conspiracy. A judge released him on a $250 million bond in his first appearance on American soil since his arrest last week in the Bahamas. The

By Matt Egan, CNN The “once-in-a-generation” winter storm sweeping across the nation will force Americans to crank up the heat at a time when it’s become increasingly expensive to do that. Even before this historic winter storm emerged, experts warned home heating costs would jump this winter to the highest level in more than a

By Vanessa Yurkevich, CNN Immigration has long been a political football in the United States. But If you’re wondering why America’s labor shortage persists nearly three years into the Covid pandemic, it’s in part because America doesn’t have enough immigrants. Immigrants are vital to the US economy and fill thousands of US jobs — jobs

By Swati Gupta and Rhea Mogul, CNN India’s health minister has advised the public to take precautions against Covid-19, including getting vaccinated and wearing masks, as the country remains on alert for potential new variants that could emerge from the wave of infections sweeping neighboring China. Health Minister Mansukh Mandaviya on Thursday told Parliament that

By Laura He and Cheng Cheng, CNN The abrupt shift in China’s Covid policy has left its people and health facilities ill-prepared to deal with a huge wave of infections, leading to widespread shortages of the most common drugs used to alleviate flu-like symptoms. The local versions of Tylenol and Advil are nearly impossible to

By Kara Scannell and Matt Egan, CNN Two senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. Additionally, the pair face civil fraud charges from the Securities and Exchange Commission that were announced Wednesday night. Gary Wang, the

Greg Wallace, Paul P. Murphy, and Carol Alvarado, CNN Snow, rain, ice, wind and frigid temperatures are disrupting air travel plans across the United States as well as bus and Amtrak passenger train service. Airlines canceled more than 2,400 US flights by 9 p.m. ET Thursday and proactively canceled more than 2,200 flights for Friday,

By Matt Egan, CNN The Federal Reserve’s super-sized interest rates are not scaring most companies into cutting back on spending, according to a survey released on Wednesday. About two-thirds of chief financial officers say the current level of interest rates have not impacted their spending plans, according to the CFO Survey conducted by Duke University

By Jeanne Sahadi, Katie Lobosco and David Goldman, CNN It will take time for lawmakers and the public to digest the trove of documents relating to former President Donald Trump’s tax returns released Tuesday night by the House Ways and Means Committee. Trump repeatedly defied convention and refused to release his tax returns both as

By Nicole Goodkind, CNN Wall Street just received a big lump of Christmas coal. A surprise announcement from the Bank of Japan sent investors spinning and global markets reeling on Tuesday. The country’s central bank signaled that it would reverse two decades of policy precedent and begin to move away from loose monetary policy intended

By Laura He, CNN Xiaomi, one of the world’s largest smartphone makers, has begun layoffs in China at a time when the world’s second largest economy is grappling with an enormous unemployment crisis. The Chinese company’s decision to slash jobs comes soon after tech giants across the world, including Meta and Twitter, have laid off

By Laura He, Jennie Chen and Eric Cheung, CNN An unprecedented wave of Covid infections in China has triggered widespread drug shortages, as people scramble to buy fever medicines and painkillers to alleviate flu-like symptoms. The panic buying has spread outside mainland China’s borders, with the generic versions of Tylenol and Advil sold out at

By Diksha Madhok A photo gallery by Argentine footballer Lionel Messi has become the most-liked Instagram post ever. The images, which show Messi and other Argentina players celebrating their 2022 World Cup win, have racked up over 67 million likes on the social media platform within hours of being posted. Mark Zuckerberg, CEO of Meta,

By David Goldman, CNN In an interview with CNN’s Jake Tapper Tuesday, a TikTok executive refused multiple times to acknowledge China’s treatment of Uyghurs and other Muslim minorities, which the US State Department has labeled a genocide and a United Nations report said may constitute “crimes against humanity.” In response to Tapper’s question, “Do you

By Paul R. La Monica, CNN Disney, like most media companies, had a rough year. But one Wall Street analyst has an idea for how Disney could get back on track. Wells Fargo’s Steven Cahall thinks Disney should spin off cable sports giant ESPN and traditional TV network ABC… two slow-growth (and some would argue,

By Jack Guy, CNN Business A group of British lawmakers are calling for action to be taken against columnist Jeremy Clarkson after he wrote a “violent misogynist” opinion piece about Meghan, the Duchess of Sussex in the Sun newspaper, which was later retracted. “We welcome The Sun’s retraction of the article, we now demand action

By Matt Egan, CNN Federal regulators fined Wells Fargo a record $1.7 billion on Tuesday for “widespread mismanagement” over multiple years that harmed over 16 million consumer accounts. The Consumer Financial Protection Bureau said Wells Fargo’s “illegal activity” included repeatedly misapplying loan payments, wrongfully foreclosing on homes, illegally repossessing vehicles, incorrectly assessing fees and interest

By Rob McLean, CNN British Airways flights from the United States were delayed Monday night due to technical difficulties. “Our flights due to depart the USA tonight are currently delayed due to a technical issue with our third-party flight planning supplier, which we are urgently investigating,” the airline said in a statement. It is unclear