CNN – Business/Consumer

By Parija Kavilanz, CNN Old Navy, known for its low-priced basic and trendy seasonal clothing, has adopted an interesting sartorial tactic amid sinking sales. In order to get customers excited to shop again at its stores, it is adding pockets to more dresses. Old Navy, owned by Gap Inc., said it is doubling the number

By Julia Horowitz, CNN The British pound crashed to a record low last fall as investors rebelled against budget plans by former Prime Minister Liz Truss. Now, it’s enjoying a comeback. Sterling hit its highest level against the US dollar in 10 months on Tuesday, topping $1.25 for the first time since June 2022. The

By Oliver Darcy, CNN The media wedding of the summer is no more. Billionaire right-wing media mogul Rupert Murdoch and Ann Lesley Smith have called off their engagement just weeks after announcing they would be tying the knot, a person familiar with the matter told CNN. Vanity Fair, which was first to report the news

By Danielle Wiener-Bronner, CNN Klaus Teuber, creator of the blockbuster board game Catan, has passed away. “It is with profound sadness that we at Catan Studio acknowledge the passing of Klaus Teuber, legendary game designer and creator of the beloved board game Catan,” the game publisher’s said in a statement posted to Facebook and other

By Krystal Hur, CNN Charlie Javice, founder of the buzzy student financial assistance startup Frank, was arrested Monday night and charged by the US Securities and Exchange Commission for allegedly defrauding JPMorgan Chase in the $175 million acquisition of her company. The SEC said in a complaint filed to a New York District Court that

By Chris Isidore, CNN About 5,000 General Motors white collar employees have taken buyouts, according to GM CFO Paul Jacobson. Jacobson, speaking at an investor conference in New York on Tuesday, disclosed the number of employees who have taken package offered last month. He said that the company will take about a $1 billion charge

By Dayun Park Beep! The barcode, that rectangle of thick and thin parallel lines seen on seemingly every grocery product, package, prescription bottle and piece of luggage is turning 50 years old. Almost as old is the dispute over whose idea it actually was. Since its invention, the Universal Product Code has become the most

By Nicole Goodkind, CNN The banking crisis triggered by the recent collapses of Silicon Valley Bank and Signature Bank is not over yet and will ripple through the economy for years to come, said JPMorgan Chase CEO Jamie Dimon on Tuesday. In his closely watched annual letter to shareholders, the chief executive of America’s largest

By Michelle Toh, CNN L’Oréal is buying Australian brand Aesop in a deal that values it at $2.5 billion, in the biggest brand acquisition ever made by the French beauty giant. The sale was announced Monday by Aesop’s parent, Brazilian firm Natura & Co, which also owns The Body Shop and Avon. It brings Aesop,