Money Archives

Biden meets with business, labor leaders to highlight inflation progress

November 18, 2022 2:40 am CNN Newsource

By Jeremy Diamond and Arlette Saenz, CNN President Joe Biden is meeting with business executives and labor leaders to highlight recent progress in…

FTX's financial mismanagement is under the microscope. FTX founder Sam Bankman-Fried is pictured here in Hong Kong

FTX lawyer says ‘substantial amount’ of assets are either stolen or missing

November 18, 2022 4:05 am CNN

By Allison Morrow, CNN Business The full extent of FTX’s financial disarray is becoming clearer as the failed crypto exchange’s new…

Traders work on the floor of the New York Stock Exchange during morning trading on November 17

Fed officials crushed investors’ hopes this week

November 18, 2022 4:02 am CNN Newsource

By Nicole Goodkind, CNN Business Investors sleuthing for clues about what the Federal Reserve will decide during its December policy meeting got…

Explosive traces found at the Nord Stream pipeline indicate 'gross sabotage

Explosive traces found at Nord Stream pipeline indicate ‘gross sabotage,’ Sweden says

November 18, 2022 3:54 am CNN Newsource

By Lindsay Isaac and Sophie Tanno, CNN The blasts at the Nord Stream pipeline in September were caused by an act of sabotage, Swedish prosecutors…

India’s first private rocket Vikram-S is launched into space

November 18, 2022 12:36 am CNN Newsource

By Swati Gupta and Diksha Madhok, CNN Business Indian startup Skyroot Aerospace launched the country’s first privately developed rocket,…

Apple's supplier Foxconn has recruited 100

Foxconn has recruited 100,000 new workers for largest iPhone factory, state media reports

November 17, 2022 11:34 pm CNN Newsource

By Michelle Toh and CNN’s Beijing bureau, CNN Business More than 100,000 people have signed up for a massive recruitment drive by Apple’s…

Twitter headquarters is seen in San Francisco in October 2021. The future of Twitter remains uncertain following a "mass exodus."

Inside Twitter as ‘mass exodus’ of staffers throws platform’s future into uncertainty

November 17, 2022 7:58 pm CNN

By Oliver Darcy, CNN Business Death is in the air on Twitter. On the platform Thursday evening, where #RIPTwitter was the top trend worldwide, users…

Inside Twitter as ‘mass exodus’ of staffers throws platform’s future into uncertainty

November 17, 2022 7:58 pm CNN Newsource

By Oliver Darcy, CNN Business Death is in the air on Twitter. On the platform Thursday evening, where #RIPTwitter was the top trend worldwide, users…

A prolonged rail strike could create all types of shortages

A rail strike won’t screw up your holidays. Here’s how it’ll affect you in other ways

November 17, 2022 6:46 pm CNN

By Chris Isidore, Vanessa Yurkevich and Matt Egan, CNN Business So once again the nation and its economy is facing the risk of a massive freight…

Vehicles are seen at a Tesla charging station in Bratislava.

Tesla’s close-knit leadership team goes under the spotlight in court

November 17, 2022 12:49 pm CNN

By Matt McFarland, CNN Business The Tesla board of directors that created the largest compensation package in history for CEO Elon Musk was stocked…

Tesla’s close-knit leadership team goes under the spotlight in court

November 17, 2022 12:49 pm CNN Newsource

By Matt McFarland, CNN Business The Tesla board of directors that created the largest compensation package in history for CEO Elon Musk was stocked…

A Norfolk and Southern freight train makes it way through the Northside of Pittsburgh on November 14. The trade group representing the nation's freight railroads is confident that a strike by more than 100

Freight railroads say strike can still be avoided

November 17, 2022 12:27 pm CNN Newsource

By Chris Isidore and Vanessa Yurkevich, CNN Business The trade group representing the nation’s freight railroads is confident that a strike by…

The ’12 Days of Christmas’ gifts will set you back a lot more this year

November 17, 2022 10:39 am CNN Newsource

By Alicia Wallace, CNN Business Thanks to inflation, your “True Love” will have to spend a pretty (expensive) penny when showering you…

Ticketmaster said that more than 2 million tickets were sold Tuesday for Taylor Swift's upcoming tour — the most ever sold for an artist in a single day. Swift is here in Dusseldorf

Ticketmaster cancels public sale for Taylor Swift’s Eras Tour due to overwhelming demand

November 17, 2022 10:24 am CNN Newsource

By Jordan Valinsky and Frank Pallotta, CNN Anyone looking to buy a ticket to Taylor Swift’s new tour may be out of luck. Ticketmaster said on…

Stocks fall as fears of more big Fed rate hikes resurface

November 17, 2022 9:04 am CNN Newsource

By Paul R. La Monica, CNN Business Wall Street cares only about one thing right now…and it’s not earnings, the state of the job market,…

Mortgage rates dropped sharply last week. A home is listed for sale in Atlanta

Mortgage rates plunge, largest weekly drop since 1981

November 17, 2022 9:00 am CNN Newsource

By Anna Bahney, CNN Business Mortgage rates dropped sharply last week following a series of economic reports that indicated inflation may finally be…

Chancellor of the Exchequer Jeremy Hunt is delivering his autumn statement to MPs in the House of Commons

‘Difficult decisions’: Britain announces higher taxes and spending cuts in warning sign for other governments

November 17, 2022 8:36 am CNN Newsource

By Julia Horowitz, CNN Business The United Kingdom has already entered a recession and is battling decades-high inflation, eroding standards of…

The ’12 Days of Christmas’ gifts will set you back a lot more this year

November 17, 2022 8:01 am CNN

By Alicia Wallace, CNN Business Thanks to inflation, your “True Love” will have to spend a pretty (expensive) penny when showering you…

Shoppers are pulling back at Macy’s and Kohl’s

November 17, 2022 8:01 am CNN Newsource

By Nathaniel Meyersohn, CNN Business Middle-income shoppers have tightened their spending on clothing and home furnishings. That’s squeezing…

The UK government is hiking a windfall tax on oil and gas companies and also investing in nuclear power for the first time in decades. Pictured is the UK's Sizewell B nuclear power station.

UK to raise $65 billion from windfall tax on energy companies

November 17, 2022 7:44 am CNN Newsource

By Hanna Ziady, CNN Business The UK government is hiking a windfall tax on oil and gas companies and extending the levy to electricity generators, as…

Alibaba's third quarter sales miss forecasts. Pictured is an Alibaba warehouse on November 2

Chinese consumers are wary. Alibaba’s sales miss forecasts

November 17, 2022 7:23 am CNN Newsource

By Paul R. La Monica, CNN Business The Chinese consumer is still under a lot of pressure. E-commerce giant Alibaba reported third quarter sales…

First on CNN: ‘Greed and deception.’ Elizabeth Warren demands Sam Bankman-Fried and FTX turn over trove of records

November 17, 2022 7:01 am CNN Newsource

By Matt Egan, CNN Business Democratic Sens. Elizabeth Warren and Dick Durbin are demanding FTX founder Sam Bankman-Fried hand over a trove of…

The Lawyer charged with overseeing FTX's bankruptcy proceedings says he's never seen such a 'complete failure.' Sam Bankman-Fried

‘Complete failure:’ Filing reveals staggering mismanagement inside FTX

November 17, 2022 6:57 am CNN Newsource

By Allison Morrow, CNN Business A new court filing about Sam Bankman-Fried’s bankrupt companies reveals a crypto empire that was colossally…

Chairperson of Indian conglomerate Adani Group

Indian billionaire Gautam Adani’s flagship company is raising $2.5 billion

November 17, 2022 5:02 am CNN

By Anna Cooban and Diksha Madhok, CNN Business Indian billionaire Gautam Adani’s business empire is planning to raise nearly $2.5 billion in a…

Stocks have been clobbered this year, but people are still contributing to their retirement accounts

November 17, 2022 5:02 am CNN Newsource

By Jeanne Sahadi, CNN Business Stocks and bonds have been turning in volatile, bearish performances this year in an economy marked by high inflation…

Taylor Swift ticket snafu caused by Ticketmaster abusing its market power, Senate antitrust chair says

November 17, 2022 4:40 am CNN Newsource

By Jordan Valinsky, CNN Business Senator Amy Klobuchar criticized Ticketmaster in an open letter to its CEO, saying she has “serious…

Consumers may spend less his holiday season.

Get ready for a spending slowdown this holiday season

November 17, 2022 4:08 am CNN Newsource

By Nicole Goodkind, CNN Business American shoppers continue to defy gravity against the backdrop of persistently elevated inflation. Retail sales…

About 2,000 Starbucks workers stage one-day strike at more than 100 stores

November 17, 2022 2:00 am CNN Newsource

By Chris Isidore, CNN Business More than 2,000 employees at 112 Starbucks locations are set to go on a one-day strike Thursday, according to the…

Parents beware: Dangerous, recalled toys are still on sale

November 17, 2022 2:40 am CNN Newsource

By Parija Kavilanz, CNN Business Parents shopping for their kids this holiday season need to be alert and carefully examine toys before they buy them…

‘Complete failure:’ Filing reveals staggering mismanagement inside FTX

November 16, 2022 10:01 pm CNN

By Allison Morrow, CNN Business A new court filing about Sam Bankman-Fried’s bankrupt companies reveals a crypto empire that was colossally…

State-owned investment company Temasek decided Thursday to write down the value of its full investment in FTX to zero. A signage of Temasek is pictured here on July 12.

Singapore writes down $275 million in FTX, calls belief in Sam Bankman-Fried ‘misplaced’

November 16, 2022 10:01 pm CNN Newsource

By Diksha Madhok, CNN Business Singapore has become the latest backer of crypto exchange FTX to admit being burned by its spectacular collapse. In a…

Porsche just turned its iconic Porsche 911 sports car into a jacked-up off-road beast

November 16, 2022 7:01 pm CNN

By Peter Valdes-Dapena, CNN Business If you want to go off-road in Porsche, the German brand can offer you a couple of different SUVs for that. But…

Porsche just turned its iconic Porsche 911 sports car into a jacked-up off-road beast

November 16, 2022 7:01 pm CNN Newsource

By Peter Valdes-Dapena, CNN Business If you want to go off-road in Porsche, the German brand can offer you a couple of different SUVs for that. But…

Meet the two new anchors replacing Judy Woodruff on ‘PBS NewsHour’

November 16, 2022 6:26 pm CNN Newsource

By Oliver Darcy, CNN Business “PBS NewsHour” is ready to turn the page. The iconic nightly news program announced Wednesday that…

A woman walks past two taxi cabs in Columbus Circle as the sun rises on October 27 in New York City. The cost of a New York City taxi ride is expected to increase by nearly 23% by the end of 2022.

NYC taxi fares expected to increase by 23% by the end of this year

November 16, 2022 4:46 pm CNN Newsource

By Zenebou Sylla, CNN The cost of a New York City taxi ride is expected to increase by nearly 23% by the end of 2022, marking the first taxi fare…

Ticketmaster apologized to Taylor Swift and her fans late Friday night after a ticketing debacle this week that made it difficult for consumers to buy tickets to the pop star’s new tour.

Ticketmaster apologizes to Taylor Swift and her fans for ticketing debacle

November 16, 2022 11:08 am CNN

By Frank Pallotta, CNN Business Ticketmaster apologized to Taylor Swift and her fans late Friday night after a ticketing debacle this week that made…

Taylor Swift fans are stuck with Ticketmaster. The singer here performs onstage during NSAI 2022 Nashville Songwriter Awards on September 20

Taylor Swift ticket meltdown sparks outrage about Ticketmaster’s power

November 16, 2022 11:08 am CNN Newsource

By Chris Isidore, CNN Business Taylor Swift fans’ outrage over Ticketmaster’s service meltdown Tuesday has shined a spotlight on a common…

A recession would likely hit white collar workers more

A recession could hit white-collar workers the hardest. Here’s why

November 16, 2022 10:30 am CNN Newsource

By Alison Kosik, CNN Business White collar workers would be hit harder than blue collar workers if the United States enters a recession soon,…

Stocks have come roaring back to life in the past few weeks. Traders work on the floor at the New York Stock Exchange on Thursday

Greed is back with a vengeance on Wall Street

November 16, 2022 9:41 am CNN Newsource

By Paul R. La Monica, CNN Business Many investors are still nursing losses for the year. But stocks have come roaring back to life in the past few…

Flu, RSV, Covid: 6 ways employers can deal with a potential wave of absences

November 16, 2022 8:24 am CNN

By Jeanne Sahadi, CNN Business Employers may be pushing for more workers to return to the office. But that’s proving to be an uphill battle,…

Flu, RSV, Covid: 6 ways employers can deal with a potential wave of absences

November 16, 2022 8:24 am CNN Newsource

By Jeanne Sahadi, CNN Business Employers may be pushing for more workers to return to the office. But that’s proving to be an uphill battle,…

Coffee futures are down thanks to better weather in Brazil

Coffee prices are crashing. What it means for your cup of joe

November 16, 2022 8:14 am CNN Newsource

By Danielle Wiener-Bronner, CNN Business Coffee futures are crashing. But that might not mean too much for the price of your cup of coffee. In…

Some tickets to the pop star's "The Eras Tour" were priced at tens of thousands of dollars. Taylor Swift here performs on September 20

Taylor Swift tickets listed for thousands on StubHub after millions flood Ticketmaster

November 16, 2022 8:07 am CNN Newsource

By Frank Pallotta, CNN Business Taylor Swift fans were seeing red on Tuesday when Ticketmaster was overwhelmed by demand as pre-sales for the…

Retail sales surged by 1.3% in October. A woman shops at a Gap store on September 20

Retail sales surged by 1.3% in October as consumers continue to spend despite inflation

November 16, 2022 5:34 am CNN Newsource

By Alicia Wallace, CNN Business American shoppers spent more in October, showing continued resilience amid persistently high inflation and an early…

FTX investor sues Tom Brady, Gisele Bundchen and others as crypto contagion spreads

November 16, 2022 7:26 am CNN Newsource

By Allison Morrow, CNN Business The fallout from the spectacular implosion of crypto giant FTX has triggered a cascade of wide-reaching effects:…

Elon Musk’s $50 billion payday trial: Tesla CEO testifies in his own defense

November 16, 2022 7:14 am CNN Newsource

By Matt McFarland, CNN Business Tesla CEO Elon Musk testified this morning in a shareholder lawsuit examining the massive compensation package that…

The new Toyota Prius has a huge power boost and even better fuel efficiency

November 16, 2022 6:25 am CNN Newsource

By Peter Valdes-Dapena, CNN Business Toyota unveiled an all-new version of its famous Prius hybrid car Wednesday just ahead of the Los Angeles Auto…

FTX’s Bahamas unit files for bankruptcy in New York

November 16, 2022 5:15 am CNN Newsource

By Chris Isidore, CNN Business FTX Digital Markets, the Bahamas-based unit of the recently collapsed cryptocurrency trading platform, has filed for…

It’s looking grim for Wall Street bonuses this year

November 16, 2022 4:20 am CNN Newsource

By Nicole Goodkind, CNN Business Ferragamo belt-buckles are being tightened across Wall Street as bankers prepare for a gloomy bonus season. Year-end…

Target warns of a weak holiday season. Shares are tumbling

November 16, 2022 4:20 am CNN Newsource

By Jordan Valinsky, CNN Business Target’s profit plunged 52% in the third quarter and the retailer warned of a sluggish holiday. Target blamed…

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