CNN – Business/Consumer

CNN’s Brian Stelter speaks with Los Angeles Times owner Patrick Soon-Shiong and editor Kevin Merida as the publication expands its digital footprint in an effort to “redefine the modern American newspaper.”

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Facebook is rolling out its new newsletter product, called Bulletin, on Tuesday, according to sources involved with the initiative. Bulletin is Facebook’s version of Substack: A way to create and

By Alexis Benveniste, CNN Business Morgan Stanley is doubling its quarterly dividend from 35 cents a share to 70 cents a share, and buying back up to $12 billion of stock, the company announced Monday. The powerful Wall Street bank “has accumulated significant excess capital over the past several years” Morgan Stanley chairman and CEO

By Alexis Benveniste, CNN Business Bitcoin rose Monday after Ricardo Salinas Pliego, the owner of Mexico’s Banco Azteca, said he was pushing his country to accept the cryptocurrency and encouraged his Twitter followers to buy it. “Me and my bank are working to be the first bank in Mexico to accept #Bitcoin,” he tweeted Sunday.

By Matt Egan, CNN Business America’s biggest banks insist they can and will do more to combat the nation’s racial inequality crisis. The trade group behind JPMorgan Chase, Wells Fargo, Bank of America and dozens of other big banks is detailing 30 best practices lenders can take to ease inequality in Black communities. The report

By Chris Isidore, CNN Business When tens of millions of Americans hit the road this holiday weekend, they’re going to find the highest prices for gasoline in nearly seven years. But many will also find stations that don’t have any gas at all. The national average price for a gallon of regular stands at $3.10,

By Paul R. La Monica, CNN Business America’s Covid-induced recession has been painful one — but it could ultimately be short. The official arbiter, the National Bureau of Economic Research, hasn’t said this downturn is over. Yet it sure feels like the economy is back in recovery mode with upbeat signs in jobs, housing and

As companies implement post pandemic work plans, some businesses are allowing hybrid options while others want employees back in the office full time. CNN’s Anna Stewart reports.

By Matt Egan, CNN Business The era of virtual work isn’t ending at UBS. The Swiss bank will allow up to two-thirds of its employees around the world to permanently adopt a hybrid schedule that includes a mix of working from home and from the office, a person familiar with the matter told CNN Business.

By Julia Horowitz, CNN Business After dramatically collapsing this spring, the crypto market is attempting a comeback. What’s happening: Bitcoin and Ethereum prices jumped on Monday as investors showed they’re willing to increase exposure even after recent drawdowns. Bitcoin, which hit an all-time high of nearly $65,000 in April, plummeted as low as $28,800 last

By Michelle Toh, CNN Business Tesla’s bad run in China is getting worse. Nearly all of the vehicles that Elon Musk’s electric carmaker has built and sold in China since opening a Gigafactory in Shanghai are being recalled over concerns about the cruise control system. The problem, according to Chinese regulators, is that the system

By Hanna Ziady, CNN Business Marco Gobbetti, who led a turnaround at Burberry, will leave the British luxury fashion label at the end of this year to return to Italy where he’ll head up rival Salvatore Ferragamo. Burberry announced Gobbetti’s resignation in a statement on Monday, sending the company’s share price as much as 8%

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. All day long on Sunday, the Miami Herald homepage was dominated by a single all-caps word: “SEARCHING.” The searching continued around the clock at the site of the condo collapse

By Alexis Benveniste, CNN Business As the anniversary of the Capital Gazette newsroom shooting approaches, the publication’s former editor, Rick Hutzell, is reflecting on how the newspaper recovered. “I really focus on the work we put into it moving forward,” Hutzell told CNN’s Chief Media Correspondent Brian Stelter on “Reliable Sources” Sunday. And Stelter pointed

By Alexis Benveniste, CNN Business The Financial Conduct Authority, a regulatory body in the United Kingdom, has banned Binance, a popular cryptocurrency exchange platform, from offering certain services in the country. “Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said in a statement Saturday. Binance — one

CNN’s Brian Stelter speaks with Los Angeles Times owner Patrick Soon-Shiong and editor Kevin Merida as the publication expands its digital footprint in an effort to “redefine the modern American newspaper.”

By Frank Pallotta, CNN Business The latest Fast & Furious film has our heroes rocket a Pontiac Fiero into outer space. But that was merely the second most impressive feat the film pulled off this weekend. The first was opening to the biggest box office numbers since the pandemic began. “F9: The Fast Saga,” the

By Julia Horowitz, CNN Business There’s never been a better time for companies to raise funding from hot markets or make moves to scoop up their competitors. That’s been a huge boon to investment bankers, who are gearing up for another summer of juggling dealmaking with vacations. What’s happening: The US market for initial public

By Helen Regan, Anna Coren, Sandi Sidhu and Salai TZ, CNN Business Myanmar’s military junta is using torture to extract information from detainees on the whereabouts of senior opposition members and activist leaders, according to an American citizen and journalist who was recently released from a Yangon prison. Nathan Maung, 44, was detained for more