Money

By Anna Cooban, CNN London (CNN) — Forget the Egg McMuffin. Brits are going crazy for the bacon and sausage buns offered by Greggs, an 85-year-old chain of budget bakeries that just posted its best-ever performance. The company said Tuesday that it had taken 19.6% of the food-to-go breakfast market in the United Kingdom last

By Matt Egan, CNN New York (CNN) — Federal regulators finalized a rule on Tuesday to cap most credit card late fees at $8 as part of a broader push by the Biden administration to eliminate junk fees. The Consumer Financial Protection Bureau estimates the new regulation, first proposed in February 2023, will save families more

By Jordan Valinsky, CNN New York (CNN) — Peloton isn’t the only at-home exercise equipment company feeling the pain: BowFlex is too, announcing Tuesday that it has filed for bankruptcy. The nearly four-decade old company, best known for commercials that were a staple of late-night television in the 1990s, filed for Chapter 11 and said

By Chris Isidore, CNN New York (CNN) — Nearly 10,000 workers from a coalition of separate unions, working for a diverse group of employers, are planning a series of coordinated strikes in Minnesota this week and next. Their aim: Exert leverage at the bargaining table. First to the picket lines Monday are about 4,000 janitors

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. The New York Times is facing a sustained wave of backlash. The Gray Lady has for several weeks been in the crosshairs

By Fred Pleitgen and Olesya Dmitracova, CNN Berlin/London (CNN) — A group of far-left activists has claimed it was behind an arson attack on a high-voltage electricity pylon Tuesday that cut off the power supply to Tesla’s factory in Germany. The activists, calling themselves the “Volcano Group,” claimed responsibility for the fire in a letter

By Diksha Madhok and Wayne Chang, CNN New Delhi/Hong Kong (CNN) — Taiwan has swung into damage control mode after its labor minister made controversial comments about the skin color, religion and diets of some Indians ahead of a potential drive to recruit migrant workers to the island. In an interview with Yahoo TV last

By Kocha Olarn and Manveena Suri, CNN Hong Kong/Bangkok (CNN) — Tesla is in talks with the Thai government to build a production facility in the country, the prime minister’s office told CNN on Tuesday. The government has offered Tesla (TSLA) a 100% green facility, according to Prommin Lertsuridej, secretary general to the prime minister,

By Allison Morrow, CNN New York (CNN) — Bitcoin surged to an all-time high Tuesday, shaking off a more-than-two-year rut that had put the future of the entire crypto ecosystem in question. Bitcoin, the world’s oldest — and by far the largest — digital currency, traded above $69,000 Tuesday morning, topping the previous record of

By Ramishah Maruf, CNN New York (CNN) — Jeff Bezos has reclaimed the title of the richest person on Earth, surpassing Elon Musk, according to the Bloomberg Billionaires Index on Monday. The Amazon founder’s net worth was $200 billion, while Musk followed at $198 billion. Musk has lost about $31 billion over the past year,

By Simone McCarthy, CNN Beijing (CNN) — China has set an ambitious economic expansion target of “around 5%“ for 2024, as its leaders vowed to “transform the growth model” in the face of significant challenges facing its development. The figure — similar to last year’s growth target — was announced by Chinese Premier Li Qiang

By Rene Marsh and Matt Egan, CNN (CNN) — Harvard University turned over another trove of documents about campus antisemitism to Congress on Monday evening in response to an unprecedented subpoena from the House Education and Workforce Committee. Harvard was facing a 5 pm ET Monday deadline to respond to the subpoena, the first issued since the

By Elisabeth Buchwald, CNN New York (CNN) — Shares of New York Community Bank (NYCB) fell 23% Monday, hitting their lowest level since 1996. The stock is struggling to recover after the beleaguered regional lender said in a filing last week it had identified “material weakness” in the company’s controls. The issues caused a $2.4

By Bryan Mena, CNN Washington, DC (CNN) — Cookie Monster has taken a stance on a very real and controversial trend in the US economy — and he hates it. The gluttonous blue Sesame Street character known for gorging on cookies expressed his dismay at “shrinkflation” Monday in a post on X. Cookie Monster is

By Ramishah Maruf, CNN New York (CNN) — “Dune: Part Two” raked in $82.5 million at the domestic box office on during its opening weekend, narrowly surpassing the opening weekend of the 2023 blockbuster film “Oppenheimer.” The two films came from different studios — “Dune: Part Two” is a Warner Bros. Pictures movie and shares

By Brian Fung and Clare Duffy, CNN New York (CNN) — A group of former Twitter executives sued Elon Musk on Monday in a bid to recover more than $128 million in severance that they allege Musk has not paid since he acquired the company, now called X, more than a year ago. The executives

By Pete Muntean, Gregory Wallace and Chris Isidore, CNN Washington DC (CNN) — The Federal Aviation Administration has found multiple problems with Boeing’s production practices following a six-week audit of Boeing triggered by the January 5 door plug blowout on an Alaska Airlines’ 737 Max 9. “The FAA identified non-compliance issues in Boeing’s manufacturing process

By Hanna Ziady, CNN London (CNN) — The Church of England has welcomed a report that calls for it to spearhead the establishment of a £1 billion ($1.3 billion) fund to address its historical ties to slavery. The document, released Monday, recommends that the church’s initial commitment of £100 million ($127 million) to the “Fund

By Anna Cooban, CNN London (CNN) — The European Union has fined Apple €1.84 billion ($2 billion) for breaking its competition laws. The bloc announced Monday that it was imposing the fine on Apple (AAPL) — its first-ever antitrust penalty on the US tech giant — for preventing rival music streaming services such as Spotify

By Hanna Ziady, CNN London (CNN) — Damage to submarine cables in the Red Sea is disrupting telecommunications networks and forcing providers to reroute as much as a quarter of traffic between Asia, Europe and the Middle East, including internet traffic. Cables belonging to four major telecoms networks have been “cut” causing “significant” disruption to

By Laura He, CNN Hong Kong (CNN) — Asian markets have started the week on an upbeat note. Japan’s Nikkei 225 index jumped above 40,000 points for the first time on Monday, extending a historic rally that analysts say may have much further to run. The milestone comes just days after the stock market index

By Robert Ilich, CNN (CNN) — Chris Mortensen, an award-winning journalist and longtime NFL insider for ESPN, has died, the network announced. He was 72. Mortensen was a fixture on ESPN for three decades, appearing on “Sunday NFL Countdown,” an analyst for the NFL Draft and as a contributor on “SportsCenter.” “Mort was widely respected

By Eva Rothenberg, CNN (CNN) — OPEC+ member nations have agreed to extend their voluntary cuts to crude oil production through the second quarter, the group announced Sunday. The move is a part of the group’s perpetual balancing act to stabilize oil prices by reducing supply. OPEC+, a coalition of the world’s top oil producing

By Peter Valdes-Dapena, CNN (CNN) — Back in 2019, Elon Musk made an astonishing claim for Tesla vehicles. Tesla cars, he said, would go up in value, not down, after purchase. The reason for that is Tesla’s full self-driving capability that, Musk has said, requires only some additional software updates and regulatory approval before Tesla

By Peter Valdes-Dapena, CNN Conestoga, PA (CNN) — I drove out to Pennsylvania’s rural Amish country to see a man about a wagon. I was looking to nail down the answer to a question I’ve had since 2015 when I traveled to England on a work trip. Back when I was motoring through London, very

By Matt Egan, CNN New York (CNN) — The long-rumored recession has been postponed – or perhaps cancelled altogether. The soft-landing vibes are real. Inflation is cooling. The economy is growing at a shockingly strong pace. And unemployment hasn’t been this low for this long since the late 1960s. And yet, hidden behind these boomy-economic

By Sean Lyngaas, CNN (CNN) — Change Healthcare, the health insurance IT giant disrupted for days by a cyberattack, on Friday announced plans for a temporary loan program to get money flowing to health care providers affected by the outage. It’s a stop-gap measure meant to give some financial relief to health care providers, which

By Gregory Wallace and Chris Isidore, CNN Washington DC (CNN) — The Federal Aviation Administration has flagged more safety issues for two troubled families of Boeing planes, the latest in a series of issues at the embattled aircraft maker. The issues involve engine anti-ice systems on the 737 Max and larger 787 Dreamliner. While the

By Samantha Delouya, CNN Los Angeles (CNN) — The minimum wage for fast food workers in California is set to increase to $20 per hour on April 1, but one curious carve-out in the new minimum wage law has ignited controversy in the state. And Panera Bread has been caught in the middle. The law

By Chris Isidore and Gregory Wallace, CNN New York (CNN) — Boeing said it is in talks to buy Spirit AeroSystems, a major supplier that was part of Boeing until a 2005 sale and one that was also involved in an Alaska Airlines mid-air door plug blowout. Negotiations were first reported earlier Friday by the

CNN By Anna Cooban, CNN London (CNN) — Finance officials from the world’s biggest economies began talks this week on introducing a global minimum tax on billionaires. The representatives of the G20 countries discussed the proposal at a summit in São Paulo, Brazil, two years after a landmark agreement showed the world could act together

By Anna Cooban, CNN London (CNN) — Finance officials from the world’s biggest economies began talks this week on introducing a global minimum tax on billionaires. The representatives of the G20 countries discussed the proposal at a summit in São Paulo, Brazil, two years after a landmark agreement showed the world could act together in

By Chris Isidore, CNN New York (CNN) — Boeing has agreed to pay $51 million for violating exports controls of military technology, including employees in China downloading sensitive data from numerous defense aircraft and missiles. The complaint charges that three Boeing employees in China downloaded data 25 times between 2013 and 2017 related to three

By Peter Valdes-Dapena, CNN New York (CNN) — Fisker, the electric vehicle company founded by auto designer Henrik Fisker, announced in its fourth quarter earnings Thursday that it might not have enough money to survive another year. The company announced there was “substantial doubt about Fisker’s ability to continue as a going concern.” In order

By Tami Luhby, CNN (CNN) — Large employers did not make many changes to their abortion coverage after the Supreme Court’s 2022 decision that allowed states to ban or severely restrict abortion, according to a new analysis from KFF. Some 12% of large firms whose biggest plan covers abortion under most or all circumstances added

By Jack Bantock, CNN London (CNN) — A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app. Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.

By David Goldman and Brian Fung, CNN (CNN) — Elon Musk is suing OpenAI and its CEO Sam Altman, saying the company behind ChatGPT has diverged from its original, nonprofit mission by partnering with Microsoft for $13 billion and keeping its code for its newest generative AI products a secret. Musk, who co-founded OpenAI in

By Kara Scannell, Lauren del Valle and Jeanne Sahadi, CNN New York (CNN) — Donald Trump is facing a cash crunch as deadlines are quickly approaching to find over half a billion dollars he owes in judgments. On Wednesday, a New York appeals court judge refused to give the former president additional time to satisfy

By Laura He, CNN Hong Kong (CNN) — China’s vast manufacturing industry sent mixed signals last month about the health of the economy, fueling calls for Beijing to do more to boost growth just days before a key meeting of the country’s leaders. The National Bureau of Statistics reported Friday that the official Purchasing Managers’

By Oliver Darcy, CNN (CNN) — A federal judge on Thursday held veteran journalist Catherine Herridge in contempt of court, fining her $800 a day for refusing to divulge her sources for a series of stories published in 2017 while she was a correspondent at Fox News. Herridge, who has aggressively fought the case, is

By Ramishah Maruf, CNN New York (CNN) — It’s not a good time to be selling PCs — Dell has been grappling with sinking demand for the past few years. But its stock still shot up 20% in after-hours trading after the company excited investors about the tech industry’s favorite buzzwords: artificial intelligence. Dell revenue declined

By Elisabeth Buchwald, CNN New York (CNN) — Shares of New York Community Bank (NYCB) fell by as much as 20% in after-hours trading on Thursday after the beleaguered regional lender said in a filing it had identified “material weakness” in the company’s controls. The issues caused a $2.4 billion loss to shareholders last quarter,

By Brian Fung, CNN (CNN) — A high-profile lawsuit filed by Elon Musk’s X targeting hate speech researchers appeared to stumble on Thursday as a federal judge sounded a skeptical note on many of the lawsuit’s allegations, suggesting that the company formerly known as Twitter hasn’t done enough to establish its claims. The judge in

CNN By Nicole Goodkind, CNN New York (CNN) — The tech-heavy Nasdaq composite index and S&P 500 broke records Thursday afternoon. The Nasdaq closed at a new high of 16,091.92, about 35 points above its last closing high of 16,057.44, reached in November 2021 before the Federal Reserve began raising rates. The S&P 500, meanwhile,

By Matt Egan, Elisabeth Buchwald and Samantha Delouya, CNN New York (CNN) — Jewish students at major universities told lawmakers on Thursday they feel unsafe on campus amid a surge in antisemitism. At a roundtable hosted by the House Education and Workforce Committee, students from Columbia University, the Massachusetts Institute of Technology and other schools

By Elisabeth Buchwald, CNN New York (CNN) — It’s no secret that commercial real estate (CRE) has become a source of stress for banks. Had they known there was going to be a pandemic that would completely disrupt where people work, they likely would have given more pause to lending money to clients who lease

By Alicia Wallace, CNN New York (CNN) — Rising prices continued to loom large in January, but new data released Thursday showed that inflation is still on a downward — albeit bumpy — path toward the Federal Reserve’s 2% target. The Personal Consumption Expenditures price index was up 2.4% for the 12 months that ended

By Jeanne Sahadi, CNN New York (CNN) — If you have a job, you’re likely not working for free. In fact, when you were hired, you agreed to work for a given amount of pay over the course of a year, which you assumed meant 365 days. Except this year — and every fourth year,

By Gregory Wallace, Colin McCullough, Evan Perez and Chris Isidore, CNN Washington DC (CNN) — Boeing faces yet another federal probe over its 737 Max door plug blowout, this one by the Justice Department, an investigation that could expose it to criminal liability. Justice is reviewing whether deficiencies found in the wake the door plug

By Juliana Liu, CNN (CNN) — Gemini Trust, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, will return at least $1.1 billion to customers of its now shuttered lending program, following a settlement with a New York regulator. Gemini will also pay a $37 million fine to the regulator “for significant failures that threatened

By Anna Cooban, CNN London (CNN) — European consumer rights groups have accused Meta, the owner of Facebook and Instagram, of carrying out a “massive” and “illegal” operation of collecting data from hundreds of millions of users in the region. The European Consumer Organisation (BEUC), an umbrella body for 45 consumer groups, said eight of

By Oliver Darcy, CNN New York (CNN) — The White House is formally calling on Fox News to walk back its coverage of bribery and corruption allegations against President Joe Biden. In a letter sent to the right-wing network’s top brass this week, which has not been previously reported, Ian Sams, a top White House spokesperson, noted that the ex-FBI informant who

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — Anheuser-Busch and the Teamsters union have reached a tentative contract agreement that averts a strike of 5,000 union members who had been prepared to walk out at midnight Thursday. The Teamsters say the deal will grant members an immediate $4 an hour raise and

By Clare Duffy, CNN New York (CNN) — Electronic Arts plans to lay off 5% of its employees, making it the latest company in the gaming and tech space to reduce its workforce. EA, the maker of lucrative game franchises such as the Madden NFL games and Apex Legends, said the layoffs are part of

By Peter Valdes-Dapena, CNN (CNN) — Stellantis, the parent company of Jeep, Dodge and Chrysler vehicles, is recalling 338,000 Jeep Grand Cherokees in the United States because parts of the front suspension could become loose. If this happens, the SUV’s front wheel could fall outward, resulting in a loss of control, according to documents filed

By Gregory Wallace, CNN (CNN) — Boeing must produce within 90 days a plan to fix serious quality and safety issues, the Federal Aviation Administration said on Wednesday. The agency said FAA Administrator Mike Whitaker and Boeing CEO Dave Calhoun held a day-long meeting on Tuesday where Whitaker made the demand. That meeting came the

By Diksha Madhok and Hanna Ziady, CNN New Delhi/London (CNN) — Disney is joining forces with Asia’s richest man to create a new media giant in India that says it will reach a domestic audience of more than 750 million people. Billionaire Mukesh Ambani’s Reliance Industries and Disney have combined their digital streaming platforms and

CNN By Catherine Thorbecke, Amanda Sealy and Nadia Kounang, CNN (CNN) — Staring at a computer screen, Mark focuses deeply, his arms resting by his side. His right index finger trembles ever so slightly on top of a pillow, and then an alert rings out from the screen in front of him, a message to a

CNN By Hanna Ziady, CNN London (CNN) — Apple has abandoned decade-long efforts to build an electric car, according to multiple media reports, calling time on a project that some saw as potentially transformative for the auto industry. Many employees working on the project, known internally as “Project Titan,” will be moved to the company’s

By Laura He, CNN Hong Kong (CNN) — Hong Kong has announced a slew of measures to boost its real estate sector, including the removal of decade-old restrictions that were introduced to prevent a property bubble, as part of its effort to revive an economy that has been hurt by a record exodus of talent

By Juliana Liu, CNN Hong Kong (CNN) — Chinese property developer Country Garden, which defaulted on its debt last year, says it has received a liquidation petition from a creditor after not repaying a loan. The winding-up petition was filed by Ever Credit Limited, which had lent Country Garden a term loan facility worth 1.6

By Ramishah Maruf, CNN New York (CNN) — Starbucks said Tuesday it will begin talks with the Workers United union to discuss bargaining agreements and union organizing. “We have agreed with Workers United that we will begin discussions on a foundational framework designed to achieve collective bargaining agreements, including a fair process for organizing, and

By Samantha Delouya, CNN (CNN) — Shares of Beyond Meat skyrocketed in after-hours trading on Tuesday after the company promised to cut costs and transition to a “leaner operating structure” in its fourth-quarter financial report. The troubled plant-based meat company, which has partnerships with McDonald’s and KFC owner Yum! Brands, has faced falling demand for

By Jeanne Sahadi, CNN New York (CNN) — Many more new 401(k) “millionaires” were created last year, but the overall number remains low, according to data released Tuesday. Thanks to strong performances in stocks and bonds in 2023, coupled with steady savings rates and employer-provided matching contributions, 401(k) investors ended 2023 very much in the