CNN – Business/Consumer

By Ross Levitt, CNN The Department of Transportation’s internal watchdog said Tuesday it is launching a probe into the spike in flight cancellations and delays that have come in the wake of the pandemic. The Office of the Inspector General audit will focus on the federal agency’s role in these cancellations, rather than the airlines.

By Artemis Moshtaghian, Linh Tran, Yon Pomrenze and Chris Isidore, CNN Norfolk Southern CEO Alan Shaw defended his company’s actions since the disaster caused by the derailment of one of its trains in East Palestine, Ohio, and promised the railroad will pay for the cleanup. “Norfolk Southern is committed to the community and citizens of

by Kara Scannell, CNN Lawyers for Sam Bankman-Fried agreed to pay for a security expert to help the federal judge overseeing his fraud case navigate technology issues as they seek to keep the FTX founder out of jail before his trial. In a brief letter, Bankman-Fried’s attorneys informed Judge Lewis Kaplan that they agreed with

By Nathaniel Meyersohn, CNN The Church of Jesus Christ of Latter-day Saints and its investment manager will pay a $5 million fine to settle regulatory charges that it hid a huge investment fund. The Securities and Exchange Commission said Tuesday that Ensign Peak Advisers, the investment management firm that handles the LDS church’s finances, failed

By Nicole Goodkind, CNN US stocks plunged on Tuesday after fourth-quarter earnings and forecasts from mega-retailers like Walmart and Home Depot raised concerns about the strength of the US consumer. The Dow and S&P 500 each closed with their worst day since December 15 — the Dow fell about 696 points, or 2.1%, while the

By Danielle Wiener-Bronner Fifteen years ago, Howard Schultz reprised his role as Starbucks CEO, returning to the helm to help put the struggling company back on course. At the time, the coffee chain was flailing, facing growing competition, cooling customer interest and contending with the financial crisis. Last year he returned once again, as Starbucks

By Olesya Dmitracova, CNN Shares of embattled Swiss bank Credit Suisse fell to a record low Tuesday after a report that regulators are reviewing comments the lender’s chairman made about the health of its finances. The bank’s stock plunged as much as 9% to trade at 2.52 Swiss francs ($2.73), before recovering slightly. Earlier in

By Anna Cooban, CNN Men participating in the world’s biggest trial of a four-day work week spent much more time with their children, organizers say. For six months starting in June last year, about 2,900 workers across 61 companies in the United Kingdom worked 80% of their usual hours — for the same pay —

By Jeanne Sahadi, CNN When filling out your federal income tax return, there is no requirement to identify your race. Moreover, the US tax code does not contain specific racial group provisions. Yet just because the tax code is considered race blind does not mean it’s race neutral. A recent study by the Tax Policy

By Hanna Ziady, CNN London’s mayor has announced an emergency program to provide free meals for all children attending state primary schools in the capital, adding to a string of fresh evidence that Brits are struggling to afford necessities. “The cost-of-living crisis means families and children across our city are in desperate need of additional