CNN – Business/Consumer

By Parija Kavilanz, CNN New York (CNN) — McDonald’s new trendy beverage-led spinoff CosMc’s is pulling in younger customers at a faster clip than a typical Mickey D’s with Big Macs and fries, according to one early traffic estimate. McDonald’s unveiled its CosMc’s specialty drinks cafe spinoff in December, with the first location opened in

By Jordan Valinsky, CNN New York (CNN) — Six months into Subway replacing its pre-sliced meats with freshly sliced servings, one of the chain’s largest franchisee groups says that sales are duller than expected. Last year, Subway paid to install $6,000 slicers at the chain’s 20,000 US locations in response to its rivals serving freshly

By Matt Egan, CNN New York (CNN) — A House committee sent a letter to the University of Pennsylvania on Wednesday demanding the school turn over documents related to an investigation into antisemitism on campus. Rep. Virginia Foxx, the Republican chairwoman of the Committee on Education and the Workforce, is requesting that UPenn respond to

By Matt Egan, CNN New York (CNN) — EquiLend, a Wall Street firm that processes trillions of dollars of securities transactions a month, was hit by a cyberattack that has knocked some of its systems offline, the company said Wednesday. The financial technology firm, owned by Goldman Sachs, JPMorgan and other major Wall Street firms,

By Michael Nam, CNN New York (CNN) — Cute video game creatures with guns have become a surprise monster hit. Japanese developer Pocketpair hit an unexpected home run with its game “Palworld,” selling 7 million units in less than a week on the PC Steam service alone, according to the company’s X account, but with

By Anna Cooban, CNN London (CNN) — Royal Mail could ditch its near-daily deliveries of letters as the centuries-old British institution attempts to modernize its service and plug a growing hole in its finances. Ofcom, the UK regulator overseeing the postal service, published proposals to rescue the beleaguered company Wednesday. It said Royal Mail could

By Matt Egan, CNN New York (CNN) — In a major speech set to be delivered Thursday in Chicago, Treasury Secretary Janet Yellen plans to detail her vision for helping middle-class families overcome affordability challenges, according to excerpts shared first with CNN. “Our economic agenda is far from finished. There’s much more the President and

By Anna Cooban, CNN London (CNN) — Hedge fund billionaire Bill Ackman and his wife Neri Oxman are buying a stake in Tel Aviv’s stock market in what the exchange said Wednesday was a “strong vote of confidence” in Israel’s economy. The couple have agreed to buy a stake of nearly 5% in the Tel

By Laura He, CNN Hong Kong (CNN) — China has vowed to pump more money into the economy and further open its $64 trillion financial industry to international investors, as Beijing scrambles to restore confidence following a massive stock market rout. The promises from top officials come after a sell-off in Chinese stocks intensified this

By Hanna Ziady and Chris Stern, CNN London/Berlin (CNN) — Germany is bracing for widespread disruption to rail services after train drivers embarked on a record six-day strike Wednesday that will wreak havoc on travel plans, strain supply chains and deal a new blow to the sputtering economy. It’s the second time this month that

By Michelle Toh, CNN Hong Kong (CNN) — One of Europe’s most valuable companies is restructuring 8,000 jobs as it joins a growing list of firms shifting their focus to artificial intelligence. SAP (SAP), the enterprise software giant, announced Tuesday that it would spend €2 billion ($2.2 billion) this year on the transformation, including buyouts

By Oliver Darcy, CNN (CNN) — It read like a scene out of “Barbie” itself. When the Academy of Motion Picture Arts and Sciences announced the nominations Tuesday morning for the 96th annual Oscars, both Greta Gerwig and Margot Robbie were dealt a shocking snub in the best director and best actress categories, respectively. Meanwhile, as if to pour salt on the wound, Ryan Gosling secured

CNN, NBC, ELIZABETH, POOL, NTSB By Ramishah Maruf, Pete Muntean and Gregory Wallace, CNN New York (CNN) — Alaska Airlines CEO Ben Minicucci revealed the carrier found “some loose bolts on many” Boeing 737 Max 9s in an interview for “NBC Nightly News with Lester Holt” on Tuesday. It was the CEO’s first interview since a door

By Matt Egan, CNN (CNN) — House Education Committee Chairwoman Rep. Virginia Foxx blasted Harvard University on Tuesday evening for failing to turn over all the documents lawmakers demanded in their antisemitism investigation into the Ivy League school. Foxx, a Republican from North Carolina, described Harvard’s initial production of documents as “woefully inadequate” and warned

By Ramishah Maruf, CNN New York (CNN) — eBay is cutting 1,000 roles, about 9% of its full-time employees, the company’s CEO announced online Tuesday. The company also plans to scale back its contracts with its “alternate workforce” in the coming months. CEO Jamie Iannone cited the “challenging macroeconomic environment” as an external pressure but

By Liam Reilly, CNN (CNN) — TIME, the iconic red-framed magazine, laid off some 15% of its union-represented editorial employees on Tuesday, the newsroom’s union said, becoming the latest major news outlet to slash its reporting staff. A TIME spokesperson told CNN that the outlet had laid off roughly 30 employees across several departments, including editorial, technology, sales and its studios division. Among those laid off Tuesday was

By Ramishah Maruf, Pete Muntean and Gregory Wallace, CNN New York (CNN) — Alaska Airlines CEO Ben Minicucci revealed the carrier found “some loose bolts on many” Boeing 737 Max 9s in an interview for “NBC Nightly News with Lester Holt” on Tuesday. It was the CEO’s first interview since a door plug on one of its

By Samantha Delouya, CNN (CNN) — Netflix announced a major boost in sign-ups in the fourth quarter on Tuesday. The company added more than 13 million subscribers for the quarter, compared to Wall Street’s expectation of 8.7 million. While Netflix added 1.2 million paid subscribers in the fourth quarter in the US, much of the

By Brian Fung, CNN (CNN) — A Texas man is suing Macy’s and the parent company of Sunglass Hut after the two companies allegedly relied on error-prone facial recognition technology to falsely accuse him of armed robbery. After being held in jail for nearly two weeks, Harvey Murphy Jr. was released once prosecutors verified he