CNN – Business/Consumer

By Paul R. La Monica, CNN Disney, like most media companies, had a rough year. But one Wall Street analyst has an idea for how Disney could get back on track. Wells Fargo’s Steven Cahall thinks Disney should spin off cable sports giant ESPN and traditional TV network ABC… two slow-growth (and some would argue,

By Jeanne Sahadi, CNN Business There will soon be new retirement rules in place that will make it easier for Americans to accumulate retirement savings — and make it less costly to withdraw them — now that lawmakers have passed an omnibus spending package, which President Joe Biden is expected to sign next week. Collectively

By Matt Egan, CNN One of Wall Street’s top executives is worried about a repeat of 2008. At least, partially. Mike Wilson, Morgan’s Stanley’s chief US equity strategist, says he isn’t concerned about a “systemic” financial crisis like the one that brought the economy to its knees 14 years ago. But Wilson is warning clients

By Jack Guy, CNN Business A group of British lawmakers are calling for action to be taken against columnist Jeremy Clarkson after he wrote a “violent misogynist” opinion piece about Meghan, the Duchess of Sussex in the Sun newspaper, which was later retracted. “We welcome The Sun’s retraction of the article, we now demand action

By Matt Egan, CNN Federal regulators fined Wells Fargo a record $1.7 billion on Tuesday for “widespread mismanagement” over multiple years that harmed over 16 million consumer accounts. The Consumer Financial Protection Bureau said Wells Fargo’s “illegal activity” included repeatedly misapplying loan payments, wrongfully foreclosing on homes, illegally repossessing vehicles, incorrectly assessing fees and interest

By Ella Nilsen and Peter Valdes-Dapena, CNN The Biden administration on Tuesday finalized tougher pollution standards for heavy-duty vehicles like large trucks, delivery vans and buses starting with model year 2027. The Environmental Protection Agency’s new rule is the first update to the standards since 2001. It will cut down on the smog and soot

By Matt Egan Elon Musk’s management of Twitter, including the banning of multiple journalists, has “severely damaged” market sentiment around Tesla, and risks sparking a backlash from advertisers and consumers, a Wall Street analyst warned on Monday. Oppenheimer & Co. downgraded its rating on Tesla, where Musk is the CEO, solely because of risks posed

By Anna Cooban and Hanna Ziady, CNN Europe has agreed to a cap on natural gas prices, following months of debate over whether the measure will protect European households and businesses from extreme price spikes as temperatures plummet. In a Monday meeting, EU energy ministers agreed to trigger a cap if the price of month-ahead

By Matt Egan, CNN Senator Elizabeth Warren is raising concerns about conflicts of interest and potential legal violations for Tesla following Elon Musk’s takeover of Twitter. In a letter to Tesla Chair Robyn Denholm, the Massachusetts Democrat argued Tesla shareholders may be hurt by its CEO’s ownership of Tesla and questioned whether the electric car

By Kara Scannell, Patrick Oppmann and Allison Morrow, CNN FTX founder Sam Bankman-Fried agreed to be extradited to the United States, where federal prosecutors have indicted him on eight counts of fraud and conspiracy. Jerone Roberts, the attorney representing Bankman-Fried in the Bahamas, confirmed Monday afternoon that his client “has agreed to be voluntarily extradited

By Jeanne Sahadi, CNN Let’s be honest: Saving and investing may be necessary, but they often can feel like a chore. Both become a lot more rewarding, however, when you think of them as more than just spreading your money across different investment categories, such as stocks and bonds, to fund a seemingly far-off, no-guarantees

By Matt Egan, CNN Business The great gasoline spike of 2022 has completely unwound, giving consumers a major boost after a year of high inflation. The national average for regular gasoline dropped to $3.14 a gallon on Monday, according to AAA. Gas prices haven’t been this low since July 2021. After moving steadily higher last

By Hanna Ziady, CNN European Union governments have reached a deal on the world’s first major carbon border tax, as part of an overhaul of the bloc’s flagship carbon market that aims to make its economy carbon-neutral by 2050. EU ministers finalized details of the Carbon Border Adjustment Mechanism early Sunday after reaching a provisional

By Jordan Valinsky, CNN Business Fans of Lionel Messi looking to scoop up his official Argentina jersey following the soccer star’s first-ever FIFA World Cup win may be out of luck. Adidas has sold out of Messi and Argentina team kits worldwide, telling CNN in a statement that it’s been “working to meet the extraordinary