CNN – Business/Consumer

By Allison Morrow, CNN Business Sam Bankman-Fried woke up on Monday still a billionaire, even as his cryptocurrency empire was beginning to unravel. By Friday, his fortune was completely wiped out. Based on net worth calculations by Bloomberg, Bankman-Fried was worth about $16 billion at the start of the week. But as his crypto exchange,

By Alicia Wallace, CNN Business Consumers were feeling slightly worse about the US economy in November, amid punishing rate hikes and decades-high inflation, according to a closely followed University of Michigan survey released Friday. The preliminary index reading from the monthly Surveys of Consumers showed sentiment fell to 54.7, from 59.9 in October. Economists were

By Nadeen Ebrahim, CNN As Western states try to wean themselves off their addiction to hydrocarbons, Gulf oil nations have been pushing back hard, warning that a hasty transition away from fossil fuels will be counterproductive. But as they tell the world that it cannot live without the natural resource that has brought them enormous

By Matt Egan and Allison Morrow, CNN Business FTX Group said Friday it has filed for bankruptcy in the United States and that its CEO has resigned, marking a stunning downfall for one of the biggest and most powerful players in the crypto industry. FTX said Sam Bankman-Fried, the 30-year-old founder of the exchange, will

By Steven Jiang and Juliana Liu, CNN Apple has limited the use of the AirDrop wireless file sharing function on devices in China, just weeks after reports that some protesters had used the popular feature to spread messages critical of the Chinese government. Users of iPhones in mainland China who updated their iOS software this

By Alicia Wallace, CNN Business The US government recorded a monthly budget deficit of $88 billion in October, the Treasury Department reported Thursday. That’s 47% lower than the October 2021 deficit of $165 billion and just below economists’ expectations of $90 billion, according to consensus estimates on Refinitiv. During October, which is the first month

By Oliver Darcy and Sonia Moghe, CNN A Connecticut judge on Thursday ordered right-wing conspiracy theorist Alex Jones to pay an additional $473 million in punitive damages over the lies he told about the 2012 Sandy Hook Elementary School shooting. Connecticut Superior Court Judge Barbara Bellis awarded the families over $323 million in common law

By Parija Kavilanz, CNN Business Is there anything at your local grocery store (besides avocados) that’s getting less — not more — expensive as families plan their upcoming Thanksgiving Day meals? Well, yes, but you have to look carefully. While 90% of grocery items right now cost more than they did last year because of

By Danielle Wiener-Bronner, CNN Business KFC Germany apologized for an “unacceptable” message sent to customers on Wednesday, which appeared to tie a sales promotion to the annual commemoration of Kristallnacht. KFC app users in the country received a message encouraging them to mark the day with crispy chicken and cheese from KFC, according to Twitter

By Anna Bahney, CNN Business In case you needed more evidence of how much home prices have skyrocketed: Even as the housing market was cooling over the summer, prices still rose in 98% of US markets, according to a new report. From July through September, home prices increased in 181 out of 185 cities tracked

By Chris Isidore and David Close, CNN Fred Hickman, a pioneering sports broadcaster and anchor who helped to launch two major cable networks and influenced and informed a generation of sports journalists and fans, has died. Hickman, who turned 66 on October 16, died peacefully in hospital after battling liver cancer according to his widow