Money Archives

Wholesale prices show inflation continued to fall in December

January 18, 2023 6:33 AM CNN Newsource

By Chris Isidore, CNN Wholesale price growth cooled off significantly in December, the Bureau of Labor Statistics reported Wednesday, indicating that…

Feds arrest Russian crypto operator on suspicion of criminal activities

January 18, 2023 10:29 AM CNN Newsource

By Sean Lyngaas, CNN US authorities arrested a Russian cryptocurrency executive who allegedly oversaw the exchange of hundreds of millions of dollars…

IBM and SAP are cutting thousands of jobs

January 18, 2023 3:44 AM CNN

By Michelle Toh and Hanna Ziady, CNN IBM and SAP are the latest tech companies to slash thousands of jobs, as they reorganize businesses and profits…

Shopping carts keep disappearing from stores

January 18, 2023 5:13 AM CNN

By Nathaniel Meyersohn, CNN Santa Fe, New Mexico, paid a local contractor $47,000 to round up about 3,000 shopping carts around the city in 2021 and…

Stores say shoplifting is a national crisis. The numbers don’t back it up

January 18, 2023 5:13 AM CNN Newsource

By Nathaniel Meyersohn, CNN The masked thief rode into a Walgreens in San Francico on a bicycle, pedaled to an aisle in the health and wellness…

The Federal Reserve is testing how climate change could hurt big banks

January 18, 2023 5:34 AM CNN Newsource

By Nicole Goodkind, CNN The largest six banks in the United States have been given until July to show the Federal Reserve what effects disastrous…

America’s largest party supply store files for bankruptcy

January 18, 2023 7:23 AM CNN Newsource

By Nathaniel Meyersohn, CNN Party City filed for bankruptcy protection Tuesday, weighed down by competition and years of financial losses. The…

Wall Street’s biggest WFH advocate is bringing underperforming staff back into the office

January 18, 2023 9:13 AM CNN Newsource

By Allison Morrow, CNN When Jane Fraser became CEO of Citigroup nearly two years ago, in the middle of the pandemic, she established the kind of…

Southwest pilots union cites Christmas meltdown in call for a strike vote

January 18, 2023 8:43 AM CNN Newsource

By Greg Wallace The union representing Southwest Airlines pilots is taking early steps toward a possible strike, citing the airline’s Christmas…

University of Texas at Austin blocks TikTok from its IT network

January 18, 2023 8:04 AM CNN

By Brian Fung, CNN The University of Texas at Austin blocked TikTok from its IT network on Wednesday under an earlier order by Gov. Greg Abbott…

University of Texas at Austin blocks TikTok from its IT network

January 18, 2023 8:04 AM CNN Newsource

By Brian Fung, CNN The University of Texas at Austin blocked TikTok from its IT network on Wednesday under an earlier order by Gov. Greg Abbott…

Trump campaign has asked Meta to unblock the former president’s Facebook account

January 18, 2023 7:56 AM CNN Newsource

By Kristen Holmes, CNN Former President Trump’s campaign sent a letter to Facebook’s parent company, Meta, Tuesday petitioning them to…

Trump campaign has asked Meta to unblock the former president’s Facebook account

January 18, 2023 7:56 AM CNN

By Kristen Holmes, CNN Former President Trump’s campaign sent a letter to Facebook’s parent company, Meta, Tuesday petitioning them to…

Davos conspiracy theories used to live on fringe corners of the internet. Now they’ve gone mainstream

January 18, 2023 7:15 AM CNN Newsource

By Oliver Darcy, CNN Business The World Economic Forum’s annual meeting at Davos has long been a lightning rod for conspiracy theories.…

Davos conspiracy theories used to live on fringe corners of the internet. Now they’ve gone mainstream

January 18, 2023 7:15 AM CNN

By Oliver Darcy, CNN Business The World Economic Forum’s annual meeting at Davos has long been a lightning rod for conspiracy theories.…

Global oil demand could hit record high as China reopens

January 18, 2023 4:54 AM CNN Newsource

By Anna Cooban, CNN Global oil demand is expected to hit its highest-ever level this year on the back of China’s swift reopening of its…

Microsoft is laying off 10,000 employees

January 18, 2023 3:44 AM CNN Newsource

By Catherine Thorbecke and Hanna Ziady, CNN Microsoft plans to lay off 10,000 employees as part of broader cost-cutting measures, the company said in…

‘Inconsistent with human survival’: UN chief slams fossil fuel industry expansion in Davos speech

January 18, 2023 3:32 AM CNN Newsource

By Ivana Kottasová, CNN The UN Secretary General has accused fossil fuel producers and their financial backers of “racing to expand…

Macao gambling promoter Alvin Chau sentenced to 18 years – public broadcaster

January 18, 2023 3:18 AM CNN Newsource

Philip Wang Alvin Chau, one of Macao’s high-profile gambling promoters, has been sentenced to 18 years in prison for racketeering and illegal…

South Africa’s energy crisis deepens as blackouts hit 12 hours a day

January 18, 2023 1:57 AM CNN Newsource

By Hanna Ziady, CNN South Africa’s President Cyril Ramaphosa was forced this week to cancel a trip to Davos by an escalating energy crisis that…

Women living in states with abortion bans suffer greater economic insecurity

January 17, 2023 10:06 PM CNN Newsource

By Vanessa Yurkevich, CNN Women living in states that restrict or ban abortion face greater economic insecurity than those living in states where…

Women living in states with abortion bans suffer greater economic insecurity

January 17, 2023 10:06 PM CNN

By Vanessa Yurkevich, CNN Women living in states that restrict or ban abortion face greater economic insecurity than those living in states where…

Yen falls after Bank of Japan maintains ultra-easy policy

January 17, 2023 9:22 PM CNN Newsource

By Laura He, CNN The yen plunged on Wednesday after the Bank of Japan decided to maintain its ultra-easy monetary policy, defying market expectations…

What we learned at Davos: The economy is a mess, but there’s still hope

January 17, 2023 2:41 PM CNN

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…

Regulators conducting interviews in JFK airport near-crash probe

January 17, 2023 2:00 PM CNN Newsource

By Pete Muntean and Gregory Wallace, CNN Investigators are probing the narrowly avoided catastrophic collision between two airliners at New…

Tesla-induced pileup involved driver-assist tech, government data reveals

January 17, 2023 1:44 PM CNN Newsource

By Matt McFarland, CNN Business The Tesla Model S that braked sharply and triggered an eight-car crash in San Francisco in November had the…

Tesla reports record earnings but tighter profit margins

January 17, 2023 1:44 PM CNN

By Chris Isidore, CNN Tesla reported record profits for the fourth quarter and the full year, but its profit margins were tighter due to higher…

Getty Images suing the makers of popular AI art tool for allegedly stealing photos

January 17, 2023 12:48 PM CNN Newsource

By Jennifer Korn Getty Images announced a lawsuit against Stability AI, the company behind popular AI art tool Stable Diffusion, alleging the tech…

Ousted Disney CEO Bob Chapek will get $20 million exit pay

January 17, 2023 12:48 PM CNN Newsource

By Jordan Valinsky, CNN Ousted Disney chief executive Bob Chapek is set to receive a hefty paycheck following his exit. The Walt Disney Company said…

Tesla video promoting self-driving was staged, engineer testifies

January 17, 2023 12:34 PM CNN Newsource

By Reuters A 2016 video that Tesla (TSLA) used to promote its self-driving technology was staged to show capabilities like stopping at a red light…

Elon Musk is being sued over his ‘funding secured’ tweet. Here’s what you need to know

January 17, 2023 11:19 AM CNN Newsource

By Chris Isidore, CNN A four-year old tweet from Elon Musk has the Tesla CEO back in court starting Tuesday. Musk, Tesla and other Tesla directors…

Intel CEO: Chip supply chains will shape geopolitics more than oil over the next 50 years

January 17, 2023 10:30 AM CNN Newsource

By Clare Duffy, CNN Global politics will be dominated by the availability, trade and investment in microchips for the next several decades, Intel CEO…

No recession after all? Business leaders are more hopeful as China reopens

January 17, 2023 10:02 AM CNN Newsource

By Julia Horowitz, CNN Bullishness about the global economy has been in short supply among business leaders in recent months, with fears of recession…

Americans are already starting to pull back on their spending, survey shows

January 17, 2023 9:51 AM CNN Newsource

By Alicia Wallace, CNN Americans have already started to rein in their spending — and expect to pull back some more this year, according to a…

India is set to become the world’s most populous country. Can it create enough jobs?

January 17, 2023 4:33 AM CNN Newsource

By Diksha Madhok, CNN India will overtake China this year to become the world’s most populous country. The likelihood of India passing that…

A lot of people hide their cancer diagnosis from their bosses. These companies aim to change that

January 17, 2023 5:01 AM CNN Newsource

By Jeanne Sahadi, CNN After having surgery to remove a small cancerous tumor from his neck last year, Publicis Groupe CEO Arthur Sadoun decided to…

The world has a major debt problem. Is a reset coming?

January 17, 2023 5:37 AM CNN

By Nicole Goodkind, CNN Business The world is in debt. A record amount of debt. Three hundred trillion dollars, to be exact. That’s the total…

The Chevrolet Corvette E-Ray is the first-ever hybrid Corvette

January 17, 2023 7:11 AM CNN

By Peter Valdes-Dapena, CNN Exactly 70 years after the very first Chevrolet Corvette was unveiled in January, 1953, General Motors revealed the first…

Goldman Sachs and Morgan Stanley both hit hard by deal drought

January 17, 2023 8:30 AM CNN Newsource

By Paul R. La Monica, CNN Let’s not make a deal? Investment banking powerhouses Goldman Sachs and Morgan Stanley both reported substantial…

Europe’s ban on Russian diesel could send pump prices even higher

January 17, 2023 9:01 AM CNN Newsource

By Anna Cooban, CNN Europe is scrambling to buy diesel fuel from Russia before a ban on imports comes into force in early February, but the frantic…

The Chevrolet Corvette E-Ray is the first-ever hybrid Corvette

January 17, 2023 7:11 AM CNN Newsource

By Peter Valdes-Dapena, CNN Exactly 70 years after the very first Chevrolet Corvette was unveiled in January, 1953, General Motors revealed the first…

The rich should pay higher fares to clean up aviation, says Heathrow boss

January 17, 2023 5:41 AM CNN Newsource

By Hanna Ziady, CNN Rich travelers will have to pay more to fly if the aviation industry is to transition to greener fuels, the boss of one of the…

The world has a major debt problem. Is a reset coming?

January 17, 2023 5:37 AM CNN Newsource

By Nicole Goodkind, CNN Business The world is in debt. A record amount of debt. Three hundred trillion dollars, to be exact. That’s the total…

China records first population decline in 60 years

January 16, 2023 9:15 PM CNN Newsource

By Simone McCarthy, CNN China’s population shrank in 2022 for the first time in more than 60 years, a new milestone in the country’s…

China posts one of its worst economic performances in decades because of Covid

January 16, 2023 7:13 PM CNN Newsource

By Laura He, CNN China’s economy expanded by just 3% in 2022, far below the government’s own target, marking one of the worst…

Netflix plans its biggest-ever slate of Korean content

January 16, 2023 5:18 PM CNN Newsource

By Michelle Toh, CNN Netflix is planning its largest-ever lineup of South Korean content, with 34 new and returning titles set to roll out this year.…

Why some cars from the 1990s are soaring in value

January 16, 2023 11:12 AM CNN Newsource

By Peter Valdes-Dapena, CNN Business Not that long ago, cars from the 1990s were just used cars. And, really, most of them still are, if…

Are you a restaurant worker who recently came back to the industry? Tell us about it

January 16, 2023 1:53 PM CNN Newsource

By Alicia Wallace, CNN At the onset of the pandemic, the restaurant business was one of the hardest hit in the United States. More than 5 million…

Fed up with facial recognition cameras monitoring your every move? Italian fashion may have the answer

January 16, 2023 4:31 AM CNN Newsource

By Elliott Gotkine, CNN The red-headed man wearing what looks like the ultimate Christmas sweater walks up to the camera. A yellow quadrant surrounds…

The top 1% captured nearly twice as much new wealth as the rest of the world over last two years

January 16, 2023 6:43 AM CNN

By Tami Luhby, CNN The world’s wealthiest residents have been getting far richer, far faster than everyone else over the past two years. The…

The steep plunge in used car prices — what it means, and what’s ahead

January 16, 2023 7:53 AM CNN Newsource

By Chris Isidore, CNN Business Tracking used car prices is enough to give anyone whiplash. Since the start of the pandemic and the resulting…

TikTok access from government devices now restricted in more than half of US states

January 16, 2023 8:22 AM CNN Newsource

By Brian Fung and Christopher Hickey, CNN More than half of all US states have partially or fully banned TikTok from government devices, according to…

Bitcoin rallies 25% as crypto markets rebound

January 16, 2023 8:36 AM CNN Newsource

By Allison Morrow, CNN The bitcoin bulls are back. After getting pummeled by losses for the better part of last year, bitcoin and other…

Shane Co. will pay you $1,500 to go on 15 first dates

January 15, 2023 1:04 AM CNN Newsource

By Emmy Abbassi, CNN Tired of going on awkward first dates? Maybe some cash will incentivize you. Shane Co. is offering to pay one reluctant romantic…

Gen Z has a new ‘vintage’ technology to obsess over

January 15, 2023 4:47 AM CNN Newsource

By Ramishah Maruf, CNN First, it was disposable cameras. Then it was low-rise jeans. Now, Gen-Z’s latest “vintage” obsession is the…

Forget inflation, it’s all about earnings

January 15, 2023 5:30 AM CNN Newsource

By Nicole Goodkind, CNN To everything there is a season and now is the time for earnings. Over the past few weeks investors have been squarely…

Americans are spending an extra $371 a month because of inflation

January 14, 2023 4:02 AM CNN Newsource

By Matt Egan From rent and groceries to utilities, families are paying a lot more every month as they try to keep up with inflation. And while…

Best Buy, Dunkin’ and Starbucks changed their rewards programs. Then came the backlash

January 14, 2023 5:03 AM CNN Newsource

By Nathaniel Meyersohn, CNN If you want to earn rewards points at Best Buy, you’ll have to take out a Best Buy credit card to be able to redeem…

Covid broke supply chains. Now on the mend, can they withstand another shock?

January 16, 2023 10:50 AM CNN Newsource

By Alicia Wallace, CNN The pandemic dislodged the global supply chain, hurling once smoothly running businesses, industries and economies into a…

A single winning ticket for Friday’s $1.35 billion Mega Millions jackpot drawing was sold in Maine

January 13, 2023 11:02 PM CNN Newsource

One ticket sold in Maine beat the eerie odds of Friday the 13th and its buyer is set to claim the Mega Millions jackpot of about $1.35 billion, the…

What’s open and closed on MLK Day 2023

January 15, 2023 6:01 AM CNN Newsource

By Ramishah Maruf, CNN Martin Luther King Jr. Day celebrates the birthday of civil rights leader the Rev. Martin Luther King Jr., who won the Nobel…

China allows Didi to resume signing up new users as tech crackdown eases

January 16, 2023 2:42 AM CNN Newsource

By Laura He, CNN Ride-hailing giant Didi received approval to resume new user registration in China, it said Monday, providing more evidence that…

Global air traffic may return to pre-Covid levels in June, with China leading the way

January 16, 2023 12:58 AM CNN Newsource

By Michelle Toh, CNN Global air traffic will boom this year, returning to pre-pandemic levels in June, according to a new report. On Monday,…

One Chinese province spent $22 billion on eliminating Covid before policy U-turn

January 16, 2023 12:43 AM CNN Newsource

By Laura He, CNN A number of regional governments in China have revealed the enormous sums they’ve spent on fighting the pandemic, reinforcing…

The top 1% captured nearly twice as much new wealth as the rest of the world over last two years

January 15, 2023 5:01 PM CNN Newsource

By Tami Luhby, CNN The world’s wealthiest residents have been getting far richer, far faster than everyone else over the past two years. The…

SpaceX’s most powerful rocket returns to flight and nails synchronized landing

January 15, 2023 4:35 PM CNN Newsource

By Jackie Wattles, CNN SpaceX’s Falcon Heavy rocket, the towering launch vehicle known for its boosters’ aerial acrobatics and…

Russia’s war in Ukraine sparked a historic food crisis. It’s not over

January 15, 2023 9:05 AM CNN Newsource

By Julia Horowitz, CNN Grain is once again leaving Ukrainian ports. The price of fertilizer is falling sharply. Billions of dollars in aid has been…

Twitter’s laid-off workers cannot pursue claims via class-action lawsuit, judge says

January 15, 2023 8:15 AM CNN Newsource

Reuters Twitter has secured a ruling allowing the social media company to force several laid-off workers suing over their termination to pursue their…

How WWE’s Vince McMahon ruthlessly got his job back despite allegations of sexual assault and misuse of company funds

January 14, 2023 1:15 PM CNN Newsource

By Kyle Feldscher, CNN Professional wrestling is known for its outlandish, dramatic stories that have captivated generations. It’s an athletic…

A hairline crack became a 3-foot chasm. That’s when he knew they had to leave

January 13, 2023 4:47 PM CNN Newsource

By Tara Subramaniam and Vedika Sud, CNN For years, residents in the northern Indian city of Joshimath have complained to local officials that their…

Surging egg prices mean record profits for largest US egg producer

January 13, 2023 11:38 AM CNN

A spike in egg prices has squeezed customers. But even with rising costs of its own, the leading US egg supplier has found that it can make even more…

Egg shortage sends New Zealanders rushing to buy their own hens

January 13, 2023 1:15 PM CNN

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…

As U.S. unemployment improved, it worsened for Latinos and Black women

January 13, 2023 11:48 AM CNN Newsource

By Rikki Klaus, CNN The US unemployment rate returned to a historic low of 3.5% in December. Not everyone is celebrating, however: Jobless rates for…

Surging egg prices mean record profits for largest US egg producer

January 13, 2023 11:38 AM CNN Newsource

By Nathaniel Meyersohn, CNN A spike in egg prices has squeezed customers. But even with rising costs of its own, the leading US egg supplier has…

Delta decided against using ‘fairly old’ backup system during FAA outage

January 13, 2023 11:11 AM CNN

By Gregory Wallace, CNN Delta Air Lines has a backup to the federal aviation safety system that failed this week, but the airline decided against…

Delta decided against using ‘fairly old’ backup system during FAA outage

January 13, 2023 11:11 AM CNN Newsource

By Gregory Wallace, CNN Delta Air Lines has a backup to the federal aviation safety system that failed this week, but the airline decided against…

Why Goldman Sachs isn’t too worried about a recession

January 13, 2023 5:20 AM CNN Newsource

By Nicole Goodkind, CNN America’s largest financial institutions are pivoting into a new industry: Meteorology. JPMorgan Chase CEO Jamie Dimon…

Tim Cook agrees to a massive pay cut

January 13, 2023 5:24 AM CNN

By Anna Cooban, CNN Apple CEO Tim Cook recommended the company cut his pay this year after shareholders rebelled. The world’s largest tech…

Bank earnings fail to impress investors as recession worries rise

January 13, 2023 6:41 AM CNN Newsource

By Paul R. La Monica, CNN JPMorgan Chase, Bank of America, Citigroup and asset management giant BlackRock posted results that topped Wall…

Why consumer sentiment is at its highest level since April

January 13, 2023 9:09 AM CNN Newsource

By Alicia Wallace, CNN As inflation continues its slow and steady descent, consumer sentiment is climbing back out of a trough hit last year. The…

Here are the winning numbers for the Mega Millions $1.35 billion jackpot — the 2nd largest in history

January 12, 2023 10:14 PM CNN Newsource

By Aya Elamroussi, CNN Friday the 13th might have ended up being someone’s lucky day. The winning numbers for the Mega Millions lottery drawing…

Exclusive: Rocket CEO says housing isn’t a buyer’s or a seller’s market. Now it’s even

January 13, 2023 9:41 AM CNN

By Matt Egan, CNN Business Covid-19 set off an epic housing boom that left first-time homebuyers feeling desperate amid relentless bidding wars and…

Exclusive: Rocket CEO says housing isn’t a buyer’s or a seller’s market. Now it’s even

January 13, 2023 9:41 AM CNN Newsource

By Matt Egan, CNN Business Covid-19 set off an epic housing boom that left first-time homebuyers feeling desperate amid relentless bidding wars and…

Mud, mold, and destruction: California businesses face catastrophic damage

January 13, 2023 8:47 AM CNN

By Parija Kavilanz, CNN At the end of a long wooden California pier that juts out above the Pacific ocean sits the Wharf House. It’s now almost…

Mud, mold, and destruction: California businesses face catastrophic damage

January 13, 2023 8:47 AM CNN Newsource

By Parija Kavilanz, CNN At the end of a long wooden California pier that juts out above the Pacific ocean sits the Wharf House. It’s now almost…

Pepsi is changing its Zero Sugar recipe

January 13, 2023 7:35 AM CNN Newsource

By Jordan Valinsky, CNN Business Pepsi Zero Sugar will soon taste different. The sugar-free soda unveiled a new recipe that uses a “new…

Global interest rate hikes are ‘yet to bite,’ says IMF head

January 13, 2023 5:58 AM CNN

By Anna Cooban, CNN The world economy is still in a sticky spot, according to the head of the International Monetary Fund, despite cautious optimism…

Tim Cook agrees to a massive pay cut

January 13, 2023 5:24 AM CNN Newsource

By Anna Cooban, CNN Apple CEO Tim Cook recommended the company cut his pay this year after shareholders rebelled. The world’s largest tech…

‘This is the last thing we need:’ Millions of businesses hammered by the pandemic need to start paying back Covid loans

January 13, 2023 5:19 AM CNN Newsource

By Gabe Cohen, CNN At Teddy & The Bully Bar restaurant near downtown Washington, DC, business has never been the same since the pandemic hit.…

Aging, outdated technology leaves air travel at risk of meltdown

January 13, 2023 4:54 AM CNN Newsource

By Brian Fung, CNN The massively disruptive computer outage at the Federal Aviation Administration this week that caused thousands of cancelled or…

Delta trims guidance on cost of pilots labor deal

January 13, 2023 4:53 AM CNN Newsource

By Chris Isidore, CNN Delta Air Lines reported very strong fourth-quarter results Friday that beat forecasts, capping its first profitable year since…

Bosch to invest $1 billion in EV parts factory in China

January 13, 2023 3:39 AM CNN Newsource

By Diksha Madhok Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in…

Sweden finds the largest rare earth deposit in Europe. It could help cut dependence on China

January 13, 2023 3:13 AM CNN Newsource

By Laura He, CNN Swedish mining company LKAB says it has found Europe’s largest deposit of rare earth oxides in the country’s north, a…

Thailand welcomes back Chinese tourists with ‘arms wide open’ as key market returns

January 13, 2023 3:08 AM CNN Newsource

By Kocha Olarn and Michelle Toh, CNN For years, Thailand welcomed legions of Chinese tourists to its golden beaches, shopping districts and striking…

China’s exports plunge as global demand weakens, but trade with Russia hits record high

January 13, 2023 12:50 AM CNN Newsource

By Laura He, CNN China reported a record trade surplus for 2022, as its key export sector delivered robust growth for most of last year, providing…

Boeing 737 Max 8 takes off in China for the first time since 2019

January 12, 2023 11:17 PM CNN Newsource

By Pierre Meilhan, CNN A Boeing 737 Max 8 took off in China on Friday, for the first time since the government grounded all 737 Max 8 planes in 2019,…

World’s top chip maker mulls global expansion with plants in Europe, Japan

January 12, 2023 11:10 PM CNN Newsource

By Diksha Madhok, CNN Semiconductor giant Taiwan Semiconductor Manufacturing Company (TSMC) may expand its global manufacturing footprint even…

Starbucks tells corporate employees to return to office 3 days a week

January 12, 2023 8:30 PM CNN Newsource

By Juliana Liu, CNN Corporate workers at Starbucks must return to the office at least three days a week by the end of January, interim CEO Howard…

NYC mayor cites slower economic growth spurred by high office vacancy, cost of migrant crisis and health care, in budget address

January 12, 2023 7:38 PM CNN Newsource

By Mark Morales, CNN New York City Mayor Eric Adams unveiled the state of the city’s economic outlook as part of a $102.7 billion budget…

Egg prices exploded 60% higher last year. These food prices surged too

January 12, 2023 2:04 PM CNN Newsource

By Alicia Wallace, CNN Eggs, milk, butter, flour … if you were making pancakes last year, it would have cost you. Food prices surged in 2022.…

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