CNN – Business/Consumer

By Matt Egan, CNN New York (CNN) — Wells Fargo and a slew of other Wall Street firms admitted Tuesday to using WhatsApp, Signal and other messaging platforms for “off-channel” communications in violation of federal recordkeeping requirements. The Securities and Exchange Commission said the Wall Street firms acknowledged wrongdoing and have agreed to pay penalties

By Alicia Wallace, CNN Minneapolis (CNN) — More Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday. The number of people who made a hardship withdrawal during the second quarter surged from the first three months of the year to 15,950, an increase of 36% from

By Anna Bahney, CNN Washington (CNN) — Prior to the pandemic, Yue and Chris Parsons were, like many Millennials, reluctant renters moving from one apartment to another, wondering when they would be able to buy a home of their own. But the pandemic turned out to be an opportunity — not just for the Parsonses,

By Jordan Valinsky, CNN Business New York (CNN) — A major beer company is future proofing itself on liquor. Molson Coors, best known for brewing Coors Light and Miller Lite, is acquiring Blue Run Spirits, a cult favorite high-end bourbon and rye whiskey brand, for an undisclosed price, exclusively told to CNN. It’s part of

By Olesya Dmitracova, CNN (CNN) — Moody’s has put the credit ratings of six large US banks, including Bank of New York Mellon, State Street and Northern Trust, under review for a possible downgrade, sending stocks tumbling as investors worried about more banking sector pain ahead. The credit ratings agency said late Monday that its

By Samantha Murphy Kelly, CNN (CNN) — Jamie Thompkins works full-time as an events manager in Oklahoma City, Oklahoma, but stays up well past midnight to work on her budding side hustle: making friendship bracelets for Taylor Swift concert goers. The 46-year-old mother said she sold over 5,000 Taylor Swift-themed friendship bracelets on her Etsy

By Jordan Valinsky, CNN New York (CNN) — Thousands of flights have been delayed or canceled Tuesday following a round of severe storms that hammered the eastern United Sates. More than 350 flights were canceled Tuesday, with another 2,200 delayed, according to data from FlightAware. It’s a significant improvement from Monday when 8,200 flights were

By Bryan Mena, CNN Washington, DC (CNN) — US small businesses are noticing slightly better business conditions and are feeling less pessimistic about the economy’s future, but they’re still gloomy when it comes to hiring, according to a survey released Tuesday by the National Federation of Independent Business. As inflation continued to slow last month,

By Laura He, CNN Hong Kong (CNN) — China’s exports suffered their biggest drop in more than three years in July as global demand slowed, adding further pressure on Beijing to find ways to reinvigorate the world’s second largest economy. The value of exports, measured in US dollars, fell 14.5% last month from a year

By Michelle Toh, CNN Hong Kong (CNN) — A top executive at HSBC has apologized after reportedly calling the UK government “weak” for caving to US pressure over doing business with China, in another sign of the political tightrope the British bank has to walk. Sherard Cowper-Coles, HSBC’s head of public affairs, inadvertently caused a

By Eva Rothenberg, CNN (CNN) — Some might say Weird Barbies are made, not sold. Mattel, however, begs to differ. The toy company behind the iconic Barbie brand has announced a signature doll modeled after Kate McKinnon’s character from Greta Gerwig’s blockbuster “Barbie.” In the movie, McKinnon’s character helps send Margot Robbie’s Barbie on her

CNN By Eva Rothenberg, CNN (CNN) — Some might say Weird Barbies are made, not sold. Mattel, however, begs to differ. The toy company behind the iconic Barbie brand has announced a signature doll modeled after Kate McKinnon’s character from Greta Gerwig’s blockbuster “Barbie.” In the movie, McKinnon’s character helps send Margot Robbie’s Barbie on

By Ramishah Maruf, CNN New York (CNN) — Troubled plant-based meat company Beyond Meat (BYND) posted a 30% revenue decline in the second quarter due to falling demand for its products, the company announced Monday. Beyond Meat president and CEO Ethan Brown said in a statement that the company is reducing its revenue outlook to

By Eva Rothenberg, CNN New York (CNN) — Iconic canned soup company Campbell is expanding its reach in the Italian food market. Campbell (CPB) announced Monday that it would acquire Sovos Brands, maker of the popular Italian food brands like Rao’s sauces and Michael Angelo’s frozen entrees, as well as noosa yogurt, in a deal

By Samantha Delouya, CNN (CNN) — Over 11,000 Los Angeles city workers are planning to strike on Tuesday, according to the union that represents many of the city’s public-sector staff. City employees represented by SEIU Local 721, including those working in the sanitation department, at the city’s port and at Los Angeles International Airport, will

CNN By Samantha Delouya, CNN (CNN) — Over 11,000 Los Angeles city workers are planning to strike on Tuesday, according to the union that represents many of the city’s public-sector staff. City employees represented by SEIU Local 721, including those working in the sanitation department, at the city’s port and at Los Angeles International Airport,

By Ramishah Maruf, CNN New York (CNN) — Paramount has agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash, after more than three years of trying to offload the book publishing powerhouse. Bob Bakish, president and CEO of Paramount Global, said Simon & Schuster is a “fantastic asset”

By Gregory Wallace and Eva Rothenberg (CNN) — More than 9,000 flights have been impacted by the severe summer storms that are pounding the eastern United States. Over 8,200 flights were delayed in the US on Monday, according to data from FlightAware, and more than 1,600 US flights were cancelled. Delta Airlines had around 400