Money Archives

‘SNL’ has Trump plead his case to restore banned Twitter account

November 6, 2022 6:00 am CNN

By Frank Pallotta, CNN Business It’s been a crazy few weeks for Twitter, and “SNL” made the most of the chaos. Elon Musk completed…

‘SNL’ has Trump plead his case to restore banned Twitter account

November 6, 2022 6:00 am CNN Newsource

By Frank Pallotta, CNN Business It’s been a crazy few weeks for Twitter, and “SNL” made the most of the chaos. Elon Musk completed…

Last week was a volatile one on Wall Street

How the midterms could affect Wall Street

November 6, 2022 4:27 am CNN Newsource

By Paul R. La Monica, CNN Business Last week was a volatile one on Wall Street, with stocks falling after Federal Reserve chair Jerome Powell dashed…

SpaceX owner and Tesla CEO Elon Musk pictured in Los Angeles

Elon Musk sold nearly $4 billion worth of Tesla stock since Twitter deal closed

November 5, 2022 1:41 pm CNN

By Chris Isidore, CNN Business Elon Musk sold $3.95 billion worth of Tesla stock since completing his purchase of Twitter late last month.…

Twitter prepares to roll out new paid subscription service that includes blue checkmark

November 5, 2022 1:38 pm CNN Newsource

by Brian Fung, CNN Twitter on Saturday launched an updated version of its iOS app that promises to allow users to pay a monthly subscription to…

One of the reasons for the record $1.6 billion jackpot for the Powerball drawing is the recent run of steep interest rate hikes from the Federal Reserve

Why is the Powerball prize at a record? Thank Fed Chairman Jerome Powell

November 5, 2022 6:35 am CNN Newsource

By Chris Isidore, CNN Business One of the reasons for the record $2.04 billion jackpot for the Powerball drawing, which was announced Tuesday…

Costco's strategy of discontinuing products can be a frustration for shoppers.

Why Costco and Trader Joe’s stopped selling your favorite food

November 5, 2022 3:58 am CNN Newsource

By Nathaniel Meyersohn, CNN Business Chances are, you’ve been there: You head to Trader Joe’s to buy caramel popcorn, churro bites and…

NBC News pulls report on Paul Pelosi attack

November 5, 2022 3:37 am CNN Newsource

By Oliver Darcy, CNN Business NBC News on Friday pulled a report about the attack on Paul Pelosi that the network said did not meet its standards.…

Kyrie Irving #11 of the Brooklyn Nets looks on during a game against the Indiana Pacers at Barclays Center on October 31 in New York City. Nike is suspending its relationship with Irving for comments regarding his tweet linking to an antisemitic documentary.

Nike suspends relationship with Kyrie Irving

November 4, 2022 7:15 pm CNN Newsource

By Jill Martin and Aya Elamroussi, CNN Nike is suspending its relationship with Brooklyn Nets point guard Kyrie Irving, the company said in an…

The threat of a freight railroad strike has been pushed back to early December

Railroad unions push back threatened strike date

November 4, 2022 1:36 pm CNN

By Chris Isidore and Vanessa Yurkevich, CNN Business The threat of a freight railroad strike has been pushed back to early December, as four major…

Labor Secretary says Congress needs to block rail strikes without new deals

November 4, 2022 1:36 pm CNN Newsource

By Chris Isidore, CNN Business Labor Secretary Marty Walsh says he hopes negotiators between railroads and some rail unions can reach new labor deals…

Helicopter misses rocket booster in wild attempt to recapture it after flight

November 4, 2022 12:53 pm CNN Newsource

By Jackie Wattles, CNN Business Rocket Lab, a start-up building small orbital rockets, kicked off another successful mission on Friday — but it…

Georgia shoe manufacturer lays off most of workforce after Adidas stops Yeezy production

November 4, 2022 11:36 am CNN Newsource

By Melissa Alonso, CNN Okabashi, an Adidas manufacturing partner and family-owned footwear company in Buford, Georgia, has laid off 142 employees as…

Puma’s outgoing CEO could lead rival Adidas next

November 4, 2022 9:46 am CNN Newsource

By Julia Horowitz, CNN Business Adidas could snap up the boss of crosstown rival Puma to succeed outgoing CEO Kasper Rorsted. The sportswear company…

Mixed bag for jobs: Employers keep hiring, but unemployment rises

November 4, 2022 8:25 am CNN

By Chris Isidore, CNN Business The white-hot US labor market is showing signs of cooling, with the Labor Department reporting Friday a slower pace of…

Stocks in Hong Kong log best week in more than a decade

November 4, 2022 5:41 am CNN Newsource

By Julia Horowitz, CNN Business Global investors have two big questions on their minds: When will the Federal Reserve become less aggressive in its…

There is no uniform practice in how a company should set its minimum and maximum pay range.

What’s behind wide salary ranges after New York’s pay transparency law

November 4, 2022 5:34 am CNN

By Jeanne Sahadi, CNN Business It’s not unusual for two people with the same title to be paid somewhat different salaries. Pay, after all, is…

Federal Reserve Bank Chairman Jerome Powell speaks during a news conference at the bank headquarters on November 02

Interest rates will keep rising. How high will they go?

November 4, 2022 4:43 am CNN Newsource

By Nicole Goodkind, CNN Business What will the Federal Reserve do at its meeting in December? Analysts can speculate all they want, but Fed officials…

Mixed bag for jobs: Employers keep hiring, but unemployment rises

November 4, 2022 2:45 am CNN Newsource

By Chris Isidore, CNN Business The white-hot US labor market is showing signs of cooling, with the Labor Department reporting Friday a slower pace of…

America’s housing dream is broken

November 3, 2022 5:07 pm CNN

By Allison Morrow, CNN Business A little over a decade ago, the dominant narrative about the housing market was that Millennials simply weren’t…

America’s housing dream is broken

November 3, 2022 5:07 pm CNN Newsource

By Allison Morrow, CNN Business A little over a decade ago, the dominant narrative about the housing market was that Millennials simply weren’t…

People ride an escalator while others stand at a mall during the holiday season shopping in Brooklyn

Holiday sales expected to increase this year, but shoppers will lean on savings and credit to afford gifts

November 3, 2022 12:12 pm CNN Newsource

By Parija Kavilanz, CNN Business Families may not skimp on holiday gifts for their loved ones this year, but they’ll likely slim down their…

Popeyes is focusing on speed and convenience. And that means more drive-thrus.

The chicken sandwich isn’t enough for Popeyes anymore

November 3, 2022 11:38 am CNN Newsource

By Danielle Wiener-Bronner, CNN Business When Popeyes launched its crispy chicken sandwich in 2019, the menu item sold out in just two weeks. When it…

CNBC has canceled Shepard Smith's evening program

CNBC axes Shepard Smith’s news program amid broader ‘strategic realignment’

November 3, 2022 10:01 am CNN Newsource

By Oliver Darcy, CNN Business Shepard Smith will exit CNBC later this year after the business-focused news network announced on Thursday that it will…

Glencore has to pay a record $314 million penalty for its 'endemic' bribery of African oil officials. Pictured is the company's headquarters in Baar

Glencore fined $314 million for ‘endemic’ bribery of African oil officials

November 3, 2022 9:36 am CNN Newsource

By Anna Cooban, CNN Business Commodities giant Glencore has been ordered to pay a record £281 million ($314 million) penalty by a UK court for…

A man refuels his car at a gas station in Carson

Here’s why 75% of likely voters think we are in a recession — even though we’re probably not

November 3, 2022 8:29 am CNN Newsource

By Allison Morrow, CNN Business A new CNN poll shows that three-quarters of likely voters feel like the US economy is in a recession. It’s…

National Sandwich Day has chains serving up sandwich deals today.

Here’s how to get a free sandwich on National Sandwich Day

November 3, 2022 7:53 am CNN Newsource

By Parija Kavilanz, CNN Business Who can resist a sandwich — especially if it’s free? November 3rd marks National Sandwich Day (yes,…

First-time homebuyers are being shut out of the market like never before

November 3, 2022 7:15 am CNN

By Anna Bahney, CNN Business If you bought your first home during the past year, consider yourself one of the fortunate few. Skyrocketing home prices…

Mortgage rates fell below 7% this week. Pictured is a residential neighborhood on October 27

Mortgage rates dip back below 7%

November 3, 2022 7:00 am CNN Newsource

By Anna Bahney, CNN Business Mortgage rates fell this week after surpassing 7% for the first time in 20 years last week. The 30-year fixed-rate…

Netflix launches ‘Basic with Ads’ — its much anticipated commercial-supported plan

November 3, 2022 6:38 am CNN Newsource

By Frank Pallotta, CNN Business In 2019, Netflix said in a letter to shareholders “we… are advertising free,” and added that being…

New York Attorney General Letitia James has secured $523 million from Teva Pharmaceuticals for its role in the opioid crisis. Pictured is a Teva prescription drug in a pharmacy in Remington

New York Attorney General Letitia James secures $523 million from Teva Pharmaceuticals for role in opioid crisis

November 3, 2022 6:21 am CNN Newsource

By Kristina Sgueglia, CNN The New York Attorney General’s office announced it has secured $523 million from Teva Pharmaceuticals and affiliates…

First-time homebuyers are being shut out of the market like never before

November 3, 2022 6:01 am CNN Newsource

By Anna Bahney, CNN Business If you bought your first home during the past year, consider yourself one of the fortunate few. Skyrocketing home prices…

Wall Street is waiting for the results of midterm election

Wall Street is bracing for a potential game changer, but it’s not the election

November 3, 2022 5:17 am CNN

By Matt Egan, CNN Business Wall Street is waiting for the results of Tuesday’s midterm election like the rest of the world, but traders say…

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board Building in Washington

Did Jerome Powell just bust the stock market rally?

November 3, 2022 5:17 am CNN Newsource

By Julia Horowitz, CNN Business Federal Reserve Chair Jerome Powell has the power to make or break markets these days. On Wednesday, he opted to…

The Bank of England raised interest rates by three quarters of a percentage point on Thursday.

Bank of England sets biggest rate hike in 33 years and warns of a long recession

November 3, 2022 5:02 am CNN Newsource

By Hanna Ziady and Julia Horowitz, CNN Business The Bank of England raised interest rates by three quarters of a percentage point on Thursday, the…

A job seeker checks in at the RedBird Workforce Center in Dallas

What to look for in the last jobs report before the midterms

November 3, 2022 2:43 am CNN Newsource

By Allison Morrow, CNN Business When the Bureau of Labor Statistics releases its October jobs report on Friday, it will be the last major read of the…

Les Moonves, CBS to pay $30 million in settlement with NY AG over sexual misconduct allegations

November 2, 2022 5:55 pm CNN Newsource

By Frank Pallotta, CNN Business Leslie Moonves, former chief executive officer of CBS, and CBS reached a $30.5 million settlement with the office of…

The Federal Reserve raised its benchmark interest rate for the sixth time in a row on November 2

What rising interest rates mean for you

November 2, 2022 12:29 pm CNN Newsource

By Jeanne Sahadi, CNN Business The Federal Reserve raised its benchmark interest rate for the sixth time in a row on Wednesday, to a range of 3.75%…

Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on November 2 in Washington.

What will the Fed do next? Follow the economy, not what Jerome Powell says

November 2, 2022 12:29 pm CNN

By Paul R. La Monica, CNN Business The stock market has been on a roller coaster ride, largely because of Wall Street’s shifting expectations…

Looks like Thanksgiving is going to be more expensive this year.

Thanksgiving dinner will be a lot more expensive this year, report finds

November 2, 2022 12:20 pm CNN Newsource

By Danielle Wiener-Bronner, CNN Business Looks like Thanksgiving will be a lot pricier this year. Market research firm IRI predicts that your…

Thanksgiving dinner will be a lot more expensive this year, report finds

November 2, 2022 12:20 pm CNN

By Danielle Wiener-Bronner, CNN Business Looks like Thanksgiving will be a lot pricier this year. Market research firm IRI predicts that your…

Avocados are enjoying unprecedented popularity lately and are popping up in menu items such as avocado toast and in burgers.

Grocery prices are soaring. But this food favorite is getting cheaper

November 2, 2022 11:33 am CNN Newsource

By Parija Kavilanz, CNN Business There’s at least one item in the grocery store that is getting less expensive: avocados. A significant supply…

President Joe Biden campaigns in support of Democratic U.S. senatorial candidate John Fetterman in Philadelphia

Biden’s stock market record so far is the second worst since Jimmy Carter

November 2, 2022 11:28 am CNN

By Matt Egan, CNN Business The stock market started the Biden era with a boom. But it heads into the midterm election looking more like a bust.…

Ford October sales slide 10% largely due to supply chain issues

November 2, 2022 9:10 am CNN Newsource

By Michael Ballaban, CNN Business Ford saw its October US sales slump 10% over the last year as the company continued to battle supply chain…

Shipping slowdown is signaling a recession

Shipping giant Maersk warns of ‘dark clouds on the horizon’

November 2, 2022 8:54 am CNN Newsource

By Julia Horowitz, CNN Business The spike in shipping rates since the onset of the pandemic has been a huge boon for Maersk. But the Danish shipping…

A member of the public looks at residential properties displayed for sale in the window of an estate agents' in London on September 30.

A decade of rising house prices is over. The UK economy will feel the pain

November 2, 2022 6:30 am CNN Newsource

By Anna Cooban and Hanna Ziady, CNN Business For years, home ownership in Britain has been a one-way bet. Prices have climbed steadily since the…

Starbucks employees and supporters react as votes are read during a union-election watch party in Buffalo

These baristas are leading a nationwide campaign to unionize Starbucks. It came at a cost

November 2, 2022 6:11 am CNN Newsource

By Chris Isidore, CNN Business They came from very different backgrounds and different parts of the country, each with different reasons for seeking…

China's Covid-19 curbs are again hurting business. Medical workers here carry out Covid-19 testing on tourists at Shanghai Disney Resort on October 31

From Apple to Disney, China’s Covid curbs are again hurting business

November 2, 2022 5:09 am CNN Newsource

By Diksha Madhok and CNN’s Beijing bureau It has been almost three years since Covid-19 first hit China, but the country’s relentless…

A general view of the Home Depot branch on September 23 in Philadelphia

Workers vote against first unionizing effort at Home Depot

November 2, 2022 4:42 am CNN

By Chris Isidore, CNN Business Workers at a Home Depot in Philadelphia overwhelmingly voted against becoming the first store in the chain to be…

A street light brightens a Wall Street sign outside the New York Stock Exchange

Wall Street’s recent love affair with the Fed could turn on a dime

November 2, 2022 4:00 am CNN Newsource

By Nicole Goodkind, CNN Business Fed decision day is here — and so is some potential bad news for the market. That’s because investors have…

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