Money

By Frank Pallotta, CNN Business One of Marvel’s biggest stars is suing Disney. Actress Scarlett Johansson filed a lawsuit in Los Angeles Superior Court on Thursday that alleges Disney breached her contract by releasing the highly anticipated superhero film “Black Widow” on its streaming service, Disney+. The film was released simultaneously on the service and

By Alexis Benveniste, CNN Business All eyes are on Wall Street as the Covid-19 Delta variant continues to spread and Corporate America starts rolling out vaccination policies. And although there’s talk of banks requiring employees to show proof of vaccination, Goldman Sachs has drawn its line in the sand. The investment bank is barring employees

By Matt Egan, CNN Business Wall Street didn’t exactly roll out the red carpet to welcome Robinhood after its highly anticipated debut. The fast-growing trading company finished Thursday at $34.82, down 8% from its initial public offering price. Robinhood failed to score the first-day pop that new companies covet. And that’s despite Robinhood pricing its

By Paul R. La Monica, CNN Business Robinhood’s initial public offering is arguably the most eagerly awaited of the year. But according to commentary on Reddit, it’s one of the least popular for some traders. There appear to be a lot of angry individual investors — the so-called apes of Reddit — who want nothing

By Alexis Benveniste, CNN Business Danny Meyer, restaurateur and CEO of Union Square Hospitality Group, is requiring his employees and all customers at his restaurants to prove that they’ve been vaccinated against Covid-19. “If you really want to go unvaccinated, you can dine somewhere else, and you can also go work somewhere else,” Meyer told

By Julia Chatterley, CNN Online trading platform Robinhood was set to make its highly anticipated Wall Street debut on Thursday, even as the eight-year-old company faces intense regulatory scrutiny and public-relations headaches. Even six months after GameStop trading frenzy, Robinhood is still dealing with blowback from its role in the saga, in which the app

By Chris Isidore, CNN Business Nikola founder Trevor Milton faces federal charges of lying to investors, according to an indictment unsealed in New York on Thursday. The indictment alleges that from November 2019 through September 2020, Milton made false and misleading statements about “nearly all aspects of the business” of developing electric and hydrogen-powered trucks.

By Jordan Valinsky, CNN Business McDonald’s is partnering with hip-hop artist Saweetie for the newest in a series of celebrity collaboration meals that’s boosted the fast-food chain’s sales. Beginning August 9, the “Saweetie Meal” goes on sale in the US and includes a Big Mac, four-piece Chicken McNuggets, medium fries, a medium Sprite and BBQ

Opinion by Craig Robinson and Eddie Fishman for CNN Business Perspectives Earlier this month, the Supreme Court ruled that two restrictive provisions in an Arizona voting law could remain in place. It’s a disheartening development in the ongoing voting rights battle waging across the country. Not only does the decision weaken the Voting Rights Act

By Anneken Tappe, CNN Business The US economy in the second quarter expanded at a slower rate than expected but still at its fastest pace since last fall, growing at a seasonally adjusted, annualized rate of 6.5%. In terms of real gross domestic product — the broadest measure of economic activity — the economy has

By Julia Horowitz, CNN Business Robinhood makes its Wall Street debut on Thursday. The fast-growing trading app has provided a new generation of everyday investors with access to financial markets, but it’s also highly controversial. What’s happening: The company’s initial public offering priced at $38 a share. On the low end of the expected range,

By Paul R. La Monica, CNN Business Collectors are paying record amounts of money for trading cards of top athletes, including LeBron James, Tom Brady and Mike Trout. They’re also trying to get their hands on all the Pokémon cards they can. Now, online auction giant eBay is looking for an even bigger piece of

By Hanna Ziady, CNN Business Credit Suisse investment bankers allowed Archegos Capital to take “voracious” and “potentially catastrophic” risks that culminated in the US hedge fund’s spectacular collapse in March, costing the bank $5.5 billion and causing chaos on Wall Street, according to an investigation published Thursday. The Swiss bank published a report by law

By Charles Riley, CNN Business The world’s largest food and beverage company is introducing even bigger price hikes as commodity and transportation costs surge. Nestlé, which sells everything from ice cream to coffee and cereal, said on Thursday that it would respond to higher input costs by raising prices in the second half of the

By Ben Westcott, CNN Business Billionaire Sun Dawu, a vocal critic of the Chinese government, was sentenced to 18 years in prison on Wednesday for “picking quarrels and provoking troubles,” according to an official statement posted by the court. Sun was arrested in March this year. His company, Hebei Dawu Agricultural and Animal Husbandry Group,

By Frank Pallotta, CNN Business Disney World and Disneyland, the two crown jewels of Disney’s parks unit, will again require masks indoors. The company announced on Wednesday that it was adapting its health and safety guidelines based on “guidance from health and government officials.” The resorts — which are located in Orlando, Florida and Anaheim,