Money

By Hanna Ziady, CNN London (CNN) — Tui, one of the world’s largest tour operators, is weighing whether to leave the London Stock Exchange in what would be another blow to the city’s standing as a global financial center. The German company, which is dual-listed in London and Frankfurt, said in a statement Wednesday that

By Ramishah Maruf and Elizabeth Wagmeister, CNN New York (CNN) — Members of SAG-AFTRA, the Hollywood actors union, have ratified a new contract with the Alliance of Motion Picture and Television Producers, which represents major studios and streamers, the union said on Tuesday. SAG-AFTRA members voted to ratify the contract with about 78% in favor.

By Danielle Wiener-Bronner, CNN New York (CNN) — Panera is being sued again after another customer is said to have died after consuming the chain’s caffeinated lemonade. Dennis Brown was a 46-year-old man with a chromosomal deficiency disorder, ADHD and high blood pressure who avoided energy drinks, according to a wrongful death complaint filed this

By Sergio Padilla, CNN New York (CNN) — Wikipedia’s top 25 most viewed pages in 2023, released Tuesday, reflect the world’s interest in innovation in artificial intelligence, people who died this year and the growing power of Indian users to influence trends on the website. Run by the nonprofit Wikimedia Foundation, Wikipedia has received more

By Jordan Valinsky, CNN New York (CNN) — Tucker Carlson’s top producer, who left Fox News along with the far-right host to work on his X show, is accused of sexually assaulting a former colleague in an alleged incident that occurred more than a decade ago. Andrew Delancey, a former Fox News employee, filed a lawsuit against Justin Wells, the former executive producer of “Tucker Carlson

CNN By Nathaniel Meyersohn, CNN New York (CNN) — Big investors, celebrity chefs and chains rushed to open ghost kitchens during the pandemic, and they were expected to make up more than 20% of the restaurant industry by 2025. But ghost kitchens are now crashing. Last week, Kitchen United, which raised $175 million in funding

By Nathaniel Meyersohn, CNN New York (CNN) — Big investors, celebrity chefs and chains rushed to open ghost kitchens during the pandemic, and they were expected to make up more than 20% of the restaurant industry by 2025. But ghost kitchens are now crashing. Last week, Kitchen United, which raised $175 million in funding and

By Matt Egan, CNN (CNN) — Israel’s top securities regulator said in an updated statement on Tuesday that it has not detected suspicious trading activity on the Israeli stock exchange in the days leading up to the October 7 Hamas attack. The statement from the Israel Securities Authority (ISA) raises questions about some of the

By Anna Cooban, CNN London (CNN) — Danish dockworkers and drivers are threatening to stop transporting Teslas to neighboring Sweden if the carmaker does not reach a deal with striking Swedish workers within two weeks. Denmark’s 3F labor union said the planned “sympathy strike” is aimed at putting extra pressure on a Tesla (TSLA) subsidiary

By Laura He and Diksha Madhok, CNN Hong Kong/New Delhi (CNN) — Moody’s downgraded its outlook on China’s credit rating to negative from stable on Tuesday, citing risks related to “structurally and persistently lower medium-term economic growth” and ongoing troubles in its property sector. The lowering of its outlook does not automatically mean the ratings

By Laura He, CNN Hong Kong (CNN) — Wanxiang Trust, an investment and asset management company in China, has reportedly missed payments on several investment products to investors, adding to fresh worries about the stability of the country’s shadow banking sector. The Hangzhou-based firm has delayed payments on a number of maturing products worth several

By Paul Glader, CNN Victoria, Seychelles (CNN) — Kyle de Bouter holds up a pair of Patagonia board shorts made of recycled fishing nets, smiling as workers nearby slice old nylon nets to stack into seven-foot square, one-ton bales. “This is 100% what it’s all about,” he says, illustrating the future product possibilities. De Bouter’s

By Simone McCarthy, CNN Hong Kong (CNN) — Press freedom groups are voicing concern for veteran Hong Kong journalist Minnie Chan following a news report that she went missing after traveling to Beijing to cover a security forum in late October. Reporters Without Borders (RSF) said Monday it was “greatly concerned” by news of Chan’s

CNN By Donie O’Sullivan and Clare Duffy, CNN (CNN) — A nationally recognized online disinformation researcher has accused Harvard University of shutting down the project she led to protect its relationship with mega-donor and Facebook founder Mark Zuckerberg. The allegations, made by Dr. Joan Donovan, raise questions about the influence the tech giant might have over seemingly independent research. Facebook’s

By Ramishah Maruf, CNN New York (CNN) — A trailer for “Grand Theft Auto VI,” the next installment of the wildly popular and violent game franchise, has been released early online after it had leaked. The trailer reveals that the sixth chapter is coming in 2025, according to developer Rockstar Games. The highly anticipated trailer

By Matt Egan, CNN New York (CNN) — Bets against the value of Israeli companies spiked in the days before the October 7th Hamas attacks, suggesting some traders may have had advance knowledge of the looming terror attack and profited off it, according to new research released Monday. The preliminary research, which hasn’t been peer

By Peter Valdes-Dapena, CNN New York (CNN) — Electric vehicles have 79% more problems than other vehicles, according to Consumer Reports’ latest annual auto reliability survey. But the problem isn’t really because they’re electric, said Jake Fisher, director of the group’s auto testing center. The problems arise because electric cars are mostly new models, and

By Catherine Thorbecke, CNN (CNN) — Sheryl Sandberg, a longtime advocate for women and girls’ rights, spoke out against Hamas’ use of sexual violence as a war tactic, saying at the United Nations Monday: “Rape should never be used as an act of war.” “Silence is complicity,” Sandberg said. “And in the face of terror, we cannot

By Jackie Wattles, CNN (CNN) — Shares of Virgin Galactic, the space tourism venture founded by Richard Branson, are plunging after the British billionaire said he has no plans to invest more money in the company as he says it has “sufficient funds” already. As of the 9 a.m. ET market open on Monday, Virgin

By Donie O’Sullivan and Clare Duffy, CNN (CNN) — A nationally recognized online disinformation researcher has accused Harvard University of shutting down the project she led to protect its relationship with mega-donor and Facebook founder Mark Zuckerberg. The allegations, made by Dr. Joan Donovan, raise questions about the influence the tech giant might have over seemingly independent research. Facebook’s parent

By Ramishah Maruf and Clare Duffy, CNN New York (CNN) — Boxy, colorful and emblazoned with the brand’s signature “TC” logo, Telfar’s “Shopping Bag” handbags have for years been prized accessories among the fashion conscious. The bags — modeled after the shape of a Bloomingdale’s shopping bag — have been worn by everyone from Beyoncé and

By Samantha Delouya and Devan Cole, CNN (CNN) — The Supreme Court spent nearly two hours Monday morning grappling with whether federal bankruptcy code permits a controversial agreement that would give billions of dollars to victims of the opioid epidemic while protecting members of the Sackler family, who owned the company Purdue Pharma, from current

By Hanna Ziady, CNN London (CNN) — Spotify will lay off around 1,500 employees to reduce costs in a third round of job cuts this year, CEO Daniel Ek said Monday as he announced a “significant” strategy shift for the music-streaming company. “Economic growth has slowed dramatically and capital has become more expensive. Spotify is

By Eva Rothenberg and Chris Isidore, CNN New York (CNN) — Alaska Air (ALK) on Sunday announced it will buy rival Hawaiian Airlines (HA) for $1.9 billion. The acquisition was the culmination of “several months” of negotiations, according to Alaska Airlines CEO Ben Minicucci. It will include $900 million in Hawaiian Airlines debt. “This is

By Krystal Hur, CNN New York (CNN) — Clean energy stocks are out of vogue, as higher interest rates and lagging efforts to combat climate change dog the sector. Those obstacles might not go away anytime soon. The iShares Global Clean Energy exchange-traded fund, which tracks the performance of sectors from renewable electricity to semiconductors

By Jeanne Sahadi, CNN New York (CNN) — If you are in a 401(k) plan at work, you very likely have the option to invest in a so-called target date fund, which also may be called a retirement date fund or a lifecycle fund. At the end of 2020, the vast majority of plans (86%)

By Jackie Wattles, CNN (CNN) — Amazon just inked a deal with chief competitor and Elon Musk-helmed SpaceX to launch internet-beaming satellites — a move that comes even as Amazon founder Jeff Bezos pursues his own space dreams with his own rocket company, Blue Origin, and as SpaceX builds its own internet constellation. While Musk

By Peter Valdes-Dapena, CNN New York (CNN) — Back In 2019, Tesla designer Franz von Holzhausen tried to show off the Cybertruck’s shatterproof windows by throwing a metal ball at each of the truck’s left side windows. The unbreakable windows… broke. “Oh my f**king God,” said Musk at that memorably awkward moment. “Well, maybe that

By Nathaniel Meyersohn, Parija Kavilanz and Samantha Murphy Kelly, CNN New York (CNN) — Walmart confirmed on Friday that it is not advertising on X, the social media platform owned by Elon Musk and formerly known as Twitter. “We are not actively advertising on X. This is not about a specific change to our advertising

By Anna Cooban, CNN London (CNN) — The world’s first cargo ship that produces nearly zero planet-heating pollution is on track to set sail in 2026, according to one of the firms behind the project. Fertilizer producer Yara International and its partners plan to power the Yara Eyde — which is yet to be built — mostly

By Bryan Mena, CNN Washington, DC (CNN) — Investors have mostly concluded that the Federal Reserve is done hiking interest rates, and are already looking toward rate cuts next year, possibly as early as in the first half of 2024. Fed Chair Jerome Powell says: Not so fast. “Having come so far so quickly, the

By Michelle Toh, CNN Hong Kong (CNN) — A US regulator has hit the China arm of prestigious “Big Four” firm PwC with a $7 million fine. The company failed to detect or prevent extensive cheating by its staff during internal training exams in mainland China and Hong Kong, the US Public Company Accounting Oversight

By Laura He, CNN Hong Kong (CNN) — Two Chinese business executives at companies controlled by the embattled financial conglomerate Zhongzhi have gone missing, according to statements by their respective firms. The development comes just days after Chinese authorities launched a criminal investigation into the troubled shadow bank, one of China’s largest. Last week, Zhongzhi told

By Krystal Hur, CNN New York (CNN) — Activist shareholder Nelson Peltz’s Trian Fund Management has launched a new proxy fight against Disney, just months after backing off from its earlier push after returned chief executive Bob Iger announced a vast cost-cutting plan for the media conglomerate. “Investor confidence is low, key strategic questions loom,

By Samantha Murphy Kelly, CNN (CNN) — A judge dismissed a lawsuit filed by the state of Indiana against TikTok accusing the company of making false claims about the safety of user data and age-appropriate content. Judge Jennifer DeGroote of Allen County Superior Court in Fort Wayne, Indiana, said the court “lacks personal jurisdiction” over TikTok

By Parija Kavilanz, CNN New York (CNN) — Federal consumer safety regulators are pushing ahead in their effort to make baby loungers safer by proposing a major redesign of the products, following 79 deaths connected with their use. The Consumer Product Safety Commission on Wednesday voted to adopt proposed agency recommendations for changes to lounger

By Nathaniel Meyersohn, CNN New York (CNN) — From the Chicago Bulls’ bright red courts to the New Orleans Pelicans’ purple and neon green scheme, bold — and highly polarizing — basketball court designs are helping the NBA draw viewers for its first-ever regular season tournament. The tournament was created as a result of a

By Anna Cooban and Elisabeth Buchwald, CNN London (CNN) — Several OPEC+ countries agreed to voluntarily cut oil production by a total of 2.2 million barrels per day in the first quarter of 2024, the oil producing group announced Thursday. Saudi Arabia, the world’s biggest exporter of crude oil, will lead the effort by extending

By Brian Fung, CNN Washington (CNN) — Instagram-parent Meta has sued the Federal Trade Commission in an attempt to prevent regulators from reopening the company’s landmark $5 billion privacy settlement from 2020 and and from banning the social media giant from monetizing the user data of children. Thursday’s lawsuit in Washington federal court calls for

By Jordan Valinsky, CNN New York (CNN) — Soccer superstar Cristiano Ronaldo is facing a $1 billion class action lawsuit for his promotion of Binance, the world’s biggest crypto exchange. The lawsuit, filed Tuesday in a Florida court, said that Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities

By Ella Nilsen, CNN (CNN) — The US Senate Budget Committee is launching an investigation into whether Florida’s state-backed home and property insurance company has enough money in the bank to withstand future disasters, as scientists warn warming oceans and sea level rise are making storms more destructive. Citizens Property Insurance Corporation exists as a so-called insurer

By Elisabeth Buchwald, CNN New York (CNN) — Every three weeks, the United States experiences an extreme weather event that produces $1 billion worth of damage, according to the latest US National Climate Assessment report, released earlier this month. Compare that to 40 years ago, when extreme weather episodes that cost an inflation-adjusted $1 billion

CNN By Nicole Goodkind, CNN New York (CNN) — Elon Musk, in his first interview with mainstream media since his antisemitic post on X earlier this month, apologized Wednesday for what he called his “dumbest” ever social media post. But he lashed out at advertisers leaving his platform because of rising antisemitism on X. “I

By Catherine Thorbecke, CNN New York (CNN) — ChatGPT may not be able to perform a cake smash on its first birthday today, but it certainly managed to wow the world and create a mess of hope, hype, fear and chaos through nearly all parts of the economy in the past year. Its parent company

By Hanna Ziady, CNN London (CNN) — Staff at UK banks face layoffs in the lead-up to Christmas in what one labor union called “disgraceful” timing. Struggling Metro Bank said Thursday that it expected to slash headcount by 20% as part of efforts to save £50 million ($63 million) a year. The announcement, which will

CNN By Hanna Ziady, CNN London (CNN) — Billionaires minted in the latest year accumulated more wealth through inheritance than entrepreneurship for the first time since UBS started tracking the fortunes of the world’s richest almost a decade ago. And billionaire heirs are more likely than their parents to focus on the major opportunities and

By Michelle Toh and Laura He, CNN Hong Kong (CNN) — Alibaba founder Jack Ma has called for “change” as the stellar performance of a competitor causes a stir at his e-commerce company. On Wednesday, the billionaire responded to a recent rally in the stock of PDD (PDD), the group behind Chinese online shopping giant

By Hanna Ziady, CNN London (CNN) — Billionaires minted in the latest year accumulated more wealth through inheritance than entrepreneurship for the first time since UBS started tracking the fortunes of the world’s richest almost a decade ago. And billionaire heirs are more likely than their parents to focus on the major opportunities and challenges

By Laura He, CNN Hong Kong (CNN) — Chinese leader Xi Jinping has visited Shanghai for the first time in three years, as his government steps up efforts to prop up the country’s economy and financial markets. Xi made the trip on Tuesday and Wednesday and he visited the Shanghai Futures Exchange, a tech exhibition

By David Goldman, CNN New York (CNN) — Twelve days after OpenAI fired Sam Altman as CEO, the company formally announced that it has hired him back. The company also said it has a new board, consisting of Chairman Bret Taylor, a former co-CEO of Salesforce; former Treasury Secretary Larry Summers; and Quora CEO Adam D’Angelo, who

CNN By Nicole Goodkind, CNN New York (CNN) — Elon Musk, in his first interview with mainstream media since his antisemitic post on X earlier this month, apologized Wednesday for what he called his “dumbest” ever social media post. But he lashed out at advertisers leaving his platform because of rising antisemitism on X. “I

By Chris Isidore, CNN New York (CNN) — The United Auto Workers union says it has started an effort to organize workers at 13 non-union automakers with US factories. The union says it is seeing widespread grassroots support from employees at the plants after reaching labor deals with General Motors, Ford and Stellantis that granted

By Liam Reilly and Jon Passantino, CNN (CNN) — Disney chief executive Bob Iger said Wednesday that his number one priority for the entertainment giant is turning around the creative engine at Marvel Studios, the production house once known for cranking out billion-dollar blockbusters that has recently seen several box office misses. “Quality needs attention to deliver quality, it doesn’t

By Nicole Goodkind, CNN New York (CNN) — Elon Musk, in his first interview with mainstream media since his antisemitic post on X earlier this month, apologized Wednesday for what he called his “dumbest” ever social media post. But he lashed out at advertisers leaving his platform because of rising antisemitism on X. “I don’t

By Brian Fung, CNN (CNN) — Google has agreed to pay Canadian publishers for their news content, backing down from a high-stakes threat to block all news content produced in the country on its platforms after the tech giant and the Canadian government announced a deal Wednesday to avert the looming crisis. The agreement resolves

By Ramishah Maruf, CNN New York (CNN) — It was a simple plan. Business tends to slow down at Red Lobster locations during the third and fourth quarters, so its parent company, Thai Union, launched a new promotion. For $20, customers could eat as much shrimp as they wanted. The promotion has been a tradition

By Allison Morrow and Chris Isidore, CNN New York (CNN) — General Motors, fresh off bruising wage negotiations with its labor union and eager to goose its stock price, announced billions of dollars’ worth of cash returns to shareholders. On Wednesday, GM said it would issue a $10 billion share buyback and 33% dividend increase

By Peter Valdes-Dapena, CNN (CNN) — General Motors announced Wednesday that it’s cutting spending at its self-driving car unit, Cruise. “We expect the pace of Cruise expansion to be more deliberate when operations resume and spending will be substantially lower in 2024 than it was in 2023,” GM chief executive Mary Barra said during an

By Sean Lyngaas, CNN Washington, DC (CNN) — A September hack of popular identity management firm Okta was far more extensive than previously known and saw the hackers steal data on all users in Okta’s customer support system, the company revealed Wednesday. The admission is a stark contrast from Okta’s statement earlier this month that

By Jordan Valinsky, CNN New York (CNN) — Rite Aid is closing another roughly 30 locations across the US in addition to the 100 the bankrupt chain announced last month as part of its restructuring efforts. The latest round of closures was revealed in a bankruptcy court filing with 31 stores closing in a dozen

By Oliver Darcy and Jon Passantino, CNN (CNN) — Jezebel, the punchy feminist blog that was shuttered earlier this month, will be resurrected after the publication was sold to a new owner.Jezebel, the punchy feminist blog that was shuttered earlier this month, will be resurrected after the publication was sold to a new owner. The digital

By Oliver Darcy, CNN (CNN) — Bob Iger, neatly dressed in a gray suit and pressed white shirt, sans tie, strutted onstage Tuesday afternoon at the New Amsterdam Theatre in New York City, greeting an anxious crowd of Disney employees assembled for his highly anticipated appearance. The chief executive, now a year into his second

By Laura He, CNN Hong Kong (CNN) — Chinese social media users are mourning the death of billionaire investor Charlie Munger. The vice chairman of Berkshire Hathaway passed away “peacefully” on Tuesday morning in a California hospital, according to a press release by the investment firm. No cause of death was given. The 99-year-old investor

CNN By Paul R. La Monica and Krystal Hur, CNN New York (CNN) — Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. He was 99 years old. Berkshire Hathaway, the investment firm where Munger served as vice chairman, said in a press release that Munger passed “peacefully” on

By Catherine Thorbecke, CNN (CNN) — Once bitter rivals fighting for control of London’s streets, Uber and the British capital’s iconic black cab taxis are now teaming up. Uber on Tuesday announced a new partnership with London’s black cab taxis that will let cab drivers opt in to gain access to Uber trip referrals. Riders,

By Matt Egan, CNN New York (CNN) — Billionaire hedge fund CEO Bill Ackman and several other business leaders are demanding Harvard University release the names of students whose organizations signed on to a letter blaming solely Israel for the deadly attacks by Hamas. The CEOs want the students blacklisted. But some of those students

By Paul R. La Monica and Krystal Hur, CNN New York (CNN) — Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. He was 99 years old. Berkshire Hathaway, the investment firm where Munger served as vice chairman, said in a press release that Munger passed “peacefully” on Tuesday

By Oliver Darcy, CNN (CNN) — Rupert Murdoch is set to be deposed on Tuesday in voting technology company Smartmatic’s mammoth $2.7 billion election defamation lawsuit against Fox News, a person familiar with the matter told CNN. The deposition of the right-wing media mogul, which was first reported by Reuters, is set to take place in Los Angeles. Murdoch founded Fox