Money

By Laura He, CNN Hong Kong (CNN) — Oil prices rose above $91 a barrel Monday as diplomatic efforts to address the crisis in the Middle East intensified, but slipped back later in the day, falling below $90 on reports that that US was nearing a deal to ease sanctions on Venezuela. Prices dropped on

By David Goldman, CNN New York (CNN) — Rite Aid filed for Chapter 11 bankruptcy protection Sunday, a casualty of a miserable environment for drug stores, exacerbated by its runner-up status to bigger chains and expensive legal battles for allegedly filling unlawful opioid prescriptions. The bankruptcy was not a surprise. Its bigger rivals, CVS and

By Laura He and Carina Cheng, CNN Hong Kong (CNN) — China’s economy may be in the doldrums, but its movie theaters have enjoyed a record-breaking few months as young women flocked to see home-grown films. Box office receipts totaled 23.44 billion yuan ($3.2 billion) between June and September, the highest amount for that period

By Chris Isidore, CNN New York (CNN) — Autoworkers in Canada ratified a new labor contract Sunday with General Motors, averting a resumption of a strike that had lasted about 13 hours on Tuesday. Members of Unifor, the Canadian union that represents 4,300 workers at GM, voted 80% in favor of the new deal, which

By Danielle Wiener-Bronner, CNN New York (CNN) — Taylor Swift can add a new title to her illustrious resume: box-office superstar. In its opening weekend, the pop singer’s concert film, “Taylor Swift: The Eras Tour,” raked in about $96 million in the box office in the United States and Canada, movie theater chain AMC said

By Ramishah Maruf, CNN New York (CNN) — Before college, Fouad Abu-Hijleh, 25, did not know of a world where it was wrong to support Palestinians. Abu-Hijleh is the descendant of refugees from the 1948 Arab-Israeli War, when after Israel was created roughly 700,000 Palestinians fled or were expelled from their homes by armed Jewish

By Chris Isidore, CNN New York (CNN) — The largest health care strike in US history produced a tentative labor agreement for a coalition of unions at Kaiser Permanente — but the deal was reached almost a week after the strike ended. That might seem odd. Once a strike ends, why should an employer settle?

By Allison Morrow, CNN New York (CNN) — Two weeks into what could be a four-to-six-week trial, jurors hearing the case against fallen crypto mogul Sam Bankman-Fried have been inundated with evidence that looks, for now, pretty damning. While the defense has yet to call its own witnesses, it has stumbled frequently in cross-examining the

By Brian Fung and Clare Duffy, CNN New York (CNN) — As the Israel-Hamas war reaches the end of its first week, millions have turned to platforms including TikTok and Instagram in hopes of comprehending the brutal conflict in real time. Trending search terms on TikTok in recent days illustrate the hunger for frontline perspectives:

By Oliver Darcy, CNN (CNN) — The BBC said Friday that a group of its journalists covering Israel’s war with Hamas were held at gunpoint and assaulted by Israeli police in Tel Aviv. The disturbing incident, which the BBC said occurred on Thursday night, came as the team of three journalists drove to their hotel

By Brian Fung, CNN Washington (CNN) — The European Commission sent a warning letter Friday to Google and its subsidiary YouTube over disinformation and graphic content linked to the Hamas-Israel conflict, in the European Union’s latest effort to scrutinize Big Tech’s handling of the war. The letter from European Commissioner Thierry Breton, addressed to Google

By Oliver Darcy, CNN (CNN) — At least one journalist was killed and six others injured on Friday in southern Lebanon when Israel fired artillery into the area they were gathered. The incident — which impacted journalists from Reuters, the Agence France-Presse wire service and Al Jazeera — marks one of the worst press catastrophes

By Bryan Mena, CNN Washington, DC (CNN) — Persistently high inflation took a toll on Americans’ attitudes this month as many began to pay back student loans following a three-year hiatus. The University of Michigan’s consumer sentiment index fell 7% in October from the prior month, according to a preliminary reading released Friday. Sentiment in

By Nathaniel Meyersohn and Danielle Wiener-Bronner, CNN New York (CNN) — Starbucks on Wednesday criticized a message by its union about Hamas’ terrorist attack on Israeli civilians. The union, Starbucks Workers United, posted “Solidarity with Palestine” on social media platform X above an image of a bulldozer operated by Hamas tearing down a fence on

By Anna Cooban, CNN London (CNN) — Global energy prices are finishing the week the way they started — shooting higher as a cocktail of risks to supply have put investors on edge. The price of Brent crude, the global oil benchmark, rose more than 4% Friday to trade at nearly $90 a barrel. West

By Chris Isidore and Vanessa Yurkevich, CNN (CNN) — UAW President Shawn Fain said the union would not expand its strike against the Big Three automakers on Friday, but that the UAW stood ready to add more workers to the picket lines at any time as its labor action enters a new phase. “We are

By Matt Egan, CNN New York (CNN) — Israeli billionaire Idan Ofer and his wife Batia are quitting a Harvard executive board in protest of how university leaders have responded to Hamas’ terror attacks on Israel. “Unfortunately, our faith in the University’s leadership has been broken and we cannot in good faith continue to support

WCVB, HARVARDPSC, INSTAGRAM, CNN, harvardpsc/Instagram By Matt Egan, CNN New York (CNN) — Israeli billionaire Idan Ofer and his wife Batia are quitting a Harvard executive board in protest of how university leaders have responded to Hamas’ terror attacks on Israel. “Unfortunately, our faith in the University’s leadership has been broken and we cannot in

By Hanna Ziady, CNN London (CNN) — Israel’s vast tech sector has seen its fair share of crises, from financial downturns and the Covid-19 pandemic to periodic flare-ups in the Israeli-Palestinian conflict. Each time, the industry has bounced back, demonstrating why the country of just 9 million people is known as the world’s “startup nation.”

By Krystal Hur, CNN (CNN) — The Israel-Hamas war is sending investors in search of defensive assets. Israel declared war on Hamas Sunday after the Palestinian militant group launched a brutal attack that killed at least 1,300 people. Stock markets initially fell on Monday, before rebounding. But investors have since bought up shares of virtually

By Nicole Goodkind, CNN New York (CNN) — JPMorgan Chase CEO Jamie Dimon kicked off third-quarter earnings season Friday with a stern warning to investors: “Now may be the most dangerous time the world has seen in decades,” he wrote in the company’s report. The wars in Ukraine, Israel and Gaza “may have far-reaching impacts

By Michelle Toh and Brian Fung, CNN (CNN) — Microsoft has completed its takeover of Activision Blizzard, the maker of “Call of Duty” and other hit video games, closing one of the biggest tech deals of all time. The company said in a filing Friday with the US Securities and Exchange Commission that Activision (ATVI)

By Samantha Delouya, CNN (CNN) — Supply chain management company Flexport said it plans to lay off 20% of its workforce on Friday, just one month after a chaotic CEO shakeup that played out, in part, on social media. In a memo to employees, Ryan Petersen, Flexport’s CEO and its founder in 2013, said the

By Samantha Delouya, CNN (CNN) — Dollar General has brought back its former chief executive in an attempt to revive its struggling business. On Thursday, the discount chain announced that it had reinstated Todd Vasos as CEO, replacing Jeff Owen. Vasos had previously served in the role for seven years before he retired in 2022.

By Jennifer Korn, CNN New York (CNN) — Qualcomm, one of the largest microchip manufacturers globally, is scaling back its workforce. The San Diego, California-based company will be laying off about 1258 roles in California, according to a filing with the California Employment Development Department. Impacted employees include those based out of San Diego and

By Jordan Valinsky, CNN Business New York (CNN) — Adam Aron, the CEO of AMC Entertainment, admitted Thursday that he was a “victim of an elaborate criminal extortion” plot. He made the announcement on X, formerly Twitter, writing that he fell victim to a “third party who was unknown to me related to false allegations

By Brian Fung, CNN (CNN) — A Montana federal judge on Thursday tore into a contested state law that bans TikTok from all personal devices, saying in a hearing that the legislation appears driven by “paternalistic” views of social media users and suggesting lawmakers could have taken many steps short of an attempted ban to

By Catherine Thorbecke, CNN New York (CNN) — A billboard truck drove near Harvard’s campus Wednesday displaying the names and photos of Harvard students whose organizations signed a statement blaming solely Israel for the deadly attacks by Hamas. The “doxxing truck” appeared days after the Harvard Palestine Solidarity Groups, a coalition of Harvard student groups,

By Matt Egan, CNN New York (CNN) — Wall Street CEO Marc Rowan is calling for the leaders of the University of Pennsylvania to resign and donors to close their checkbooks over an alleged failure to condemn antisemitism and hate. Rowan, the CEO of private equity giant Apollo Global Management, wrote in an op-ed posted

CNN Opinion by Kara Alaimo (CNN) — With social networks flooded with content about atrocities happening in Israel and Gaza, schools around the world are warning parents about what their children might be seeing on social media. Some are calling for parents to remove social media apps, including Instagram and TikTok, from children’s phones, so they don’t

By Brian Fung, CNN (CNN) — EU officials warned TikTok Thursday about “illegal content and disinformation” on its platform linked to the war between Hamas and Israel, calling for CEO Shou Zi Chew to respond within 24 hours. In a letter to Chew, European Commissioner Thierry Breton said failure to comply with European Union laws

By Allison Morrow, CNN New York (CNN) — Caroline Ellison testified Thursday in Sam Bankman-Fried’s federal fraud trial that in the final days of Alameda Research, she admitted wrongdoing to her employees in an all-hands meeting, telling them the decision to borrow funds from customers of their sister firm, FTX, was “Sam’s, I guess.” “I

By Anna Cooban, CNN London (CNN) — Russia has reimposed some of the capital controls it introduced in the wake of its full-scale invasion of Ukraine in a new attempt to prop up the ruble as the cost of war weighs heavily on the economy. The ailing currency gained 3.4% Thursday to trade at 96

By Peter Valdes-Dapena, CNN Santa Monica, California (CNN) — It was a cloudy day in Los Angeles when I went out in search of a traffic jam, something that’s not hard to find there. I was looking for slow traffic because I wanted to try out a new technology from Mercedes-Benz that only works in

By Nathaniel Meyersohn, CNN New York (CNN) — Tesla has beaten back previous efforts by workers to unionize – but the United Auto Workers hopes a successful strike against Ford, General Motors and Stellantis could help it organize at Tesla. UAW membership has declined in recent decades, and the auto industry is moving to electric

By Tanushree Pandey and Michelle Toh New Delhi/Hong Kong (CNN) — An executive at Vivo, one of China’s top smartphone makers, has been arrested in India in connection with a money laundering probe, raising fears of a renewed crackdown on Chinese businesses in the country. Guangwen Kuang, the head of administration at Vivo India, was

By Alex Leeds Matthews and Rachel Wilson, CNN (CNN) — Target is closing nine stores in four metropolitan areas: the San Francisco Bay Area, Portland, Seattle, and New York. The big box retailer cited in its announcement organized retail crime and theft creating an “unsustainable business performance.” But Target is not alone, and it’s not just theft making it

By Hanna Ziady and Brian Fung, CNN London (CNN) — X says it has removed “hundreds of Hamas-affiliated accounts” and taken down thousands of posts since the attack on Israel by the Palestinian militant group, even as the European Commission formally opened an investigation into X after a previous warning about disinformation and illegal content

By Olesya Dmitracova, CNN London (CNN) — James “Jes” Staley, the former JPMorgan Chase executive who was CEO of Barclays for six years, has been banned from holding senior roles in the UK financial services industry for misleading regulators about his relationship with disgraced financier Jeffrey Epstein. The Financial Conduct Authority has decided to fine

By Bryan Mena and Samantha Delouya, CNN (CNN) — Anton Korinek, an economics professor at the University of Virginia, tells the students he advises nowadays that they should really begin to master a flourishing technology expected to transform the field of economics. That technology is generative artificial intelligence, or “genAI” for short. Economists already utilize

By Laura He, CNN Hong Kong (CNN) — Fears that Evergrande’s debt woes are spreading into the wider financial industry have sparked a run on a regional bank in northern China, multiple state media outlets have reported. Depositors lined up at the bank in Cangzhou, in Hebei province, to withdraw their money, according to photos

By Rob McLean and Liam Reilly, CNN (CNN) — The Alliance of Motion Picture and Television Producers said late Wednesday that negotiations with SAG-AFTRA — the union representing about 160,000 actors — have been suspended. “After meaningful conversations, it is clear that the gap between the AMPTP and SAG-AFTRA is too great, and conversations are

By Oliver Darcy, CNN (CNN) — Helmets. Flak jackets. Press identification. Those are some of the tools that journalists covering the Israel-Hamas war are using to shield themselves from the unforgiving dangers of an active battlefield. But the gear only goes so far. Inside the Gaza Strip, a narrow sliver of the world that even

By Chris Isidore, CNN (CNN) — The United Auto Workers union surprised Ford with a major escalation of its strike, ordering workers off the job at the company’s largest plant. Late Wednesday night, the union told 8,700 workers to strike at the Kentucky Truck Plant, which builds some of Ford’s most important vehicles, including the

By Danielle Wiener-Bronner, CNN New York (CNN) — First, it was Girl Scout cookies. Now, inflation is hitting Chipotle’s burritos and tacos. “For the first time in over a year, we will be taking a modest price increase to offset inflation,” Laurie Schalow, Chipotle’s chief corporate affairs officer, said in a statement sent to CNN.

By Clare Duffy, CNN New York (CNN) — Microsoft plans to contest a US Internal Revenue Service request for an additional $28.9 billion in back taxes for the years 2004 to 2013, the company said in a securities filing Wednesday. The demand is the result of a yearslong audit by the IRS into Microsoft’s past

CNN By Samantha Murphy Kelly, CNN New York (CNN) — Schools in Israel, the UK and the US are advising parents to delete their children’s social media apps over concerns that Hamas militants will broadcast or disseminate disturbing videos of hostages who have been seized in recent days. A Tel Aviv school’s parent’s association said

By Samantha Murphy Kelly, CNN New York (CNN) — Schools in Israel, the UK and the US are advising parents to delete their children’s social media apps over concerns that Hamas militants will broadcast or disseminate disturbing videos of hostages who have been seized in recent days. A Tel Aviv school’s parent’s association said it

By Matt Egan, CNN New York (CNN) — Anti-Defamation League CEO Jonathan Greenblatt slammed Corporate America’s response to the terror attacks on Israel as “disappointing at best, disastrous at worst.” “We have arguably the most vibrant commercial sector on the planet. That’s why it’s so troubling that in a moment where the issues are clear,

CNN By Chris Isidore and Allison Morrow, CNN New York (CNN) — August 2016 was, at the time, the planet’s hottest month on record. In Freehold, New Jersey, where Jim Klenk was driving his usual route for UPS, midday temperatures were hitting highs in the 80s and 90s. During one of those punishing late-summer days,

By Alicia Wallace, CNN Minneapolis (CNN) — It’s October, and for millions of Americans, a familiar interloper has slid its way back into that pile of monthly bills: The federal student loan payment, which is resuming after a three-year reprieve. Economists say the loan payments alone aren’t expected to dent the economy. Instead, they’re more

By Anna Cooban, CNN London (CNN) — A pipeline ferrying natural gas between Finland and Estonia has become the focus of an international investigation into a potential act of sabotage, raising fresh concerns about the security of Europe’s energy infrastructure a year after explosions shut down the vital Nord Stream 1 pipeline. Gasgrid, Finland’s gas

By Hanna Ziady, CNN London (CNN) — The war between Israel and Hamas is unlikely to have a significant impact on the global economy, US Treasury Secretary Janet Yellen said Wednesday. “While we are monitoring potential economic impacts from the crisis [in Israel], I’m not really thinking of that as a major driver of the

By Alicia Wallace, CNN Minneapolis (CNN) — Wholesale price increases of US goods and services jumped higher for a third consecutive month, influenced by still-high energy prices, according to data released Wednesday by the Bureau of Labor Statistics. The Producer Price Index, which measures the average price changes that businesses pay to suppliers, rose 2.2%

By Allison Morrow, CNN New York (CNN) — After more than nine hours of testimony over two days, Caroline Ellison, the most important witness in the government’s case against Sam Bankman-Fried, broke down as she described the final days of the crypto empire she helped build. Strangely, she said, even though it was “overall the

By Anna Cooban, CNN London (CNN) — Shares of LVMH fell as much as 8% Wednesday after the luxury goods conglomerate said revenue growth in the third quarter was much slower than in the first half of the year. The French company posted earnings late Tuesday that it said showed sales were returning to pre-pandemic

By Chris Isidore and Jordan Valinsky, CNN New York (CNN) — Stellantis and Samsung plan to build a second EV battery plant in Kokomo, Indiana, a town where many current Stellantis workers see such plants as a threat to their current jobs. EV battery plants are a critical part of the plans of traditional automakers

By Chris Isidore, CNN New York (CNN) — ExxonMobil has agreed to buy Pioneer Natural Resources, a major shale oil producer in the deal that will more than double Exxon’s footprint in the Permian Basin in the Southwest United States. Though it’s the largest US oil company, ExxonMobil was relatively slow to develop shale oil

By Rob McLean, CNN New York (CNN) — Walgreens Boots Alliance said Tuesday that it has named Tim Wentworth its new CEO. Wentworth will begin the position on October 23, according to a news release, and will also join the WBA board of directors. “I am honored and excited for the incredible opportunity to lead

By Oliver Darcy, CNN (CNN) — Some journalists are making the ultimate sacrifice while covering the war between Israel and Hamas. At least seven journalists have been killed in the Gaza Strip since Hamas launched its brazen assault on Saturday, according to press freedom groups and media reports. That number could rise even further in

CNN By Oliver Darcy, CNN (CNN) — Some journalists are making the ultimate sacrifice while covering the war between Israel and Hamas. At least seven journalists have been killed in the Gaza Strip since Hamas launched its brazen assault on Saturday, according to press freedom groups and media reports. That number could rise even further

Analysis by Elisabeth Buchwald, CNN New York (CNN) — It’s official: Birkenstock is a publicly traded company after debuting on the New York Stock Exchange Wednesday under the ticker symbol BIRK. But it was tough first day for the beloved cork-soled shoemaker. Birkenstock priced its initial public offering at $46 a share — in the

By Brian Fung and Donie O’Sullivan, CNN (CNN) — European officials warned X on Tuesday that the company formerly known as Twitter appears to have been hosting misinformation and illegal content about the war between Hamas and Israel, in potential violation of the European Union’s signature content moderation law. In a letter addressed to X

CNN By Brian Fung and Donie O’Sullivan, CNN (CNN) — European officials warned X on Tuesday that the company formerly known as Twitter appears to have been hosting misinformation and illegal content about the war between Hamas and Israel, in potential violation of the European Union’s signature content moderation law. In a letter addressed to

CNN By Brian Fung and Donie O’Sullivan, CNN (CNN) — European officials warned X on Tuesday that the company formerly known as Twitter appears to have been hosting misinformation and illegal content about the war between Hamas and Israel, in potential violation of the European Union’s signature content moderation law. In a letter addressed to

By Danielle Wiener-Bronner, CNN New York (CNN) — Burger King has been working to revitalize its brand over the past few years, redesigning everything from its logo to its packaging. The next step: remodeling restaurants. Customers entering Burger King locations will “start to see something different in 2024,” said Tom Curtis, president of Burger King

Corporate America is railing against striking workers, claiming unions are demanding too much. Give in, and companies will be less profitable and at a competitive disadvantage, big business has said.

By Anna Cooban and Matt Egan, CNN London/New York (CNN) — Chevron said Monday it had shut down a natural gas field off the coast of Israel at the behest of local officials, two days after Hamas militants launched their deadly assault on the country. The Tamar field, located 15 miles off Israel’s southern coast,

By Rachel Ramirez, CNN (CNN) — Hops in major beer-producing European countries like Germany, Czech Republic and Slovenia are ripening earlier and producing less since 1994, scientists found. And, perhaps most alarmingly for the IPA lovers of the world, they are starting to lose their critical bitter component. It’s going to get worse, researchers say.

By Chris Isidore and Allison Morrow, CNN New York (CNN) — August 2016 was, at the time, the planet’s hottest month on record. In Freehold, New Jersey, where Jim Klenk was driving his usual route for UPS, midday temperatures were hitting highs in the 80s and 90s. During one of those punishing late-summer days, Klenk,

By Chris Isidore, CNN New York (CNN) — A strike at General Motors’ Canadian plants is over less than a day after it started, according Unifor, the union that represents more than 4,000 autoworkers at the company. The strike had begun 11:59 pm Monday when Unifor said GM had refused to agree to a deal

By Allison Morrow, CNN New York (CNN) — Caroline Ellison, the 28-year-old star witness in one of the most closely watched fraud trials in US history, took the stand Tuesday to testify against her former business partner and sometimes-boyfriend Sam Bankman-Fried. She said the two of them, along with other associates, committed fraud and money

By Laura He, CNN Hong Kong (CNN) — For the second time in just over two months, Country Garden has warned investors that it could default on its $190 billion debt in a reminder that China’s real estate crisis is far from over. The company said it had not made a repayment of 470 million

By Hanna Ziady, CNN London (CNN) — The International Monetary Fund (IMF) sees better odds that central banks will manage to tame inflation without tipping the global economy into recession, but it warned Tuesday that growth remained weak and patchy. The agency said it expected the world’s economy to expand by 3% this year, in

By Michelle Toh, CNN Hong Kong (CNN) — Union workers are set to go on strike at Chevron’s liquefied natural gas (LNG) facilities in Australia next Thursday, in renewed action that could disrupt about 7% of global LNG supply. Chevron (CVX) confirmed that it had received notice of industrial action scheduled to start on October

By Samantha Delouya, CNN (CNN) — A coalition of unions representing thousands of Kaiser Permanente health care workers warned they will walk off the job again next month if a deal is not reached with their employer. Facilities across California, Washington, Oregon, Virginia and Washington DC have threatened to strike for a second time if

CNN By Hadas Gold, Tara John, Helen Regan, Christian Edwards, Heather Law and Alex Stambaugh, CNN (CNN) — Israel is hammering Gaza with airstrikes, hitting hundreds of targets and reducing neighborhoods to rubble, as new atrocities are uncovered in its territory after a devastating surprise attack by Hamas militants. The Israel Defense Forces (IDF) said

By Oliver Darcy, CNN (CNN) — Esther Solomon, the editor-in-chief of Haaretz, Israel’s oldest daily newspaper, was trying to observe the Jewish Sabbath on Saturday in Tel Aviv when her daughter, a member of the Israeli Air Force, brought some alarming news to her attention: Israel was under serious attack from Hamas. Solomon quickly realized

By Samantha Delouya, CNN Los Angeles (CNN) — Charles “Chuck” Feeney, a retail entrepreneur and investor who amassed a multibillion-dollar fortune and then gave it all away, has died. He was 92. He died peacefully in San Francisco on Monday, the Atlantic Philanthropies, Feeney’s foundation, said on its website. Feeney made much of his fortune