CNN – Business/Consumer

By Hanna Ziady, CNN Credit Suisse Chairman Axel Lehmann apologized to angry shareholders Tuesday after the ailing Swiss lender required an emergency rescue last month that left investors nursing heavy losses. “It is a sad day. For all of you, and for us,” Lehmann told 1,748 shareholders at an ice hockey stadium in Zurich at

By Chris Lau, CNN Australia has joined other Western countries in banning the use of TikTok on government devices as the Chinese-owned video app comes under increasing pressure over claims it presents a security concern. Attorney-General Mark Dreyfus announced the ban on Tuesday after receiving advice from intelligence and security agencies, saying the directive would

By Parija Kavilanz, CNN One maker said it is responding to high demand for the morning-after pill, after the US Supreme Court last year ended a constitutional right to abortion, by speeding up availability of the emergency contraceptive in retail stores and introducing a new two-count pack. Julie launched as a one-step tablet of emergency

By Chris Isidore, CNN OPEC and its allies’ surprise move to slash oil production will soon be felt at US gas pumps. The group known as OPEC+ announced Sunday it would cut oil production by more than 1.6 million barrels a day starting in May, running through the end of the year. The news sent

By Danielle Wiener-Bronner, CNN McDonald’s instructed corporate employees to work from home this week in anticipation of layoffs, according to a report from the Wall Street Journal. “During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,” the company said in an email to employees,

By Michelle Toh, CNN HSBC’s top brass defended their strategy Monday to frustrated shareholders in the lender’s largest market, as Europe’s biggest bank continued to face calls to be split up. At an informal shareholder meeting in Hong Kong, Chairman Mark Tucker and CEO Noel Quinn took questions from investors on issues ranging from how

By Nicole Goodkind, CNN Americans have grown used to corporate executives treading the well-worn paths of the Northeast corridor to convene alongside elected officials in Washington, DC, and discuss geopolitics, policy and all that’s in-between. In 2017, major CEOs from across the country came together to oppose North Carolina’s transgender bathroom law. In 2019, they

By Jordan Valinsky, CNN World Wrestling Entertainment is merging with Endeavor Group, the parent company of competitor UFC, to form a new publicly traded company. The deal values the newly combined company at over $21 billion: UFC is worth $12.1 billion and WWE is valued at $9.3 billion. Endeavor shareholders will own 51% of the

By Michelle Toh, Mohammed Tawfeeq and Anna Cooban, CNN Oil prices spiked Monday after OPEC+ producers unexpectedly announced that they would cut output. Brent crude, the global benchmark, jumped 5.31% to $84.13 a barrel, while WTI, the US benchmark, rose 5.48% to $79.83. Both were the sharpest price rises in almost a year. The oil

By Hanna Ziady, CNN Shares in Cineworld plunged more than 30% Monday, hitting their lowest level since late August, after the owner of Regal Cinemas said it planned to terminate efforts to sell its US, UK and Irish businesses. The world’s second-largest movie theater chain also announced a debt restructuring plan with lenders to help