Money Archives

England's forward Harry Kane celebrates after scoring a goal during the UEFA EURO 2020 semi-final football match between England and Denmark in London on July 7. Goldman Sachs predicts that England has a 58% chance of defeating Italy in the Euro 2020 final.

Italy defeat Spain on penalties to move onto the Euro 2020 final

July 9, 2021 8:23 AM CNN

Italy defeated Spain on penalties in the first semifinal of Euro 2020 to move onto the final where they await the winner of England vs. Denmark.

Wells Fargo is shutting down all of its existing personal lines of credit

Wells Fargo is closing all personal lines of credit

July 9, 2021 7:06 AM CNN

Wells Fargo is shutting down all of its existing personal lines of credit, sparking outrage from consumers and advocates.

Automakers are tech companies now

July 9, 2021 6:28 AM CNN Newsource

By Charles Riley, CNN Business The world’s biggest automakers don’t have much in common with tech companies. Volkswagen and General Motors employ hundreds of thousands of workers and operate huge factories on multiple continents. They rely on complicated supply chains to source parts, and they sell their products through brick-and-mortar dealership networks. But investors are

Co-founder of Apple Steve Wozniak addresses the audience during Science Channel's "Silicon Valley: The Untold Story" Screening at Computer History Museum on January 17

Apple co-founder Steve Wozniak: ‘It’s time to recognize the right to repair’

July 9, 2021 3:55 AM CNN Newsource

By Michelle Toh, CNN Business Woz is throwing his weight behind the “right to repair” movement. Apple co-founder Steve Wozniak, known in the tech world by his nickname, spoke out on the issue during a recent appearance on Cameo, a website that lets fans pay celebrities for video messages. In a post to Louis Rossmann,

Richard Branson is attempting to become the first billionaire to travel to space. Branson poses for photographs in the window of a replica of the Virgin Galactic in Hampshire

Richard Branson says he isn’t in a race with Jeff Bezos. But, like, come on

July 8, 2021 9:31 PM CNN Newsource

By Allison Morrow, CNN Business Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. ROCKET MAN This weekend, Richard Branson, the founder of Virgin Galactic, is attempting to become the first billionaire to strap himself to a rocket branded with

NBC faces a challenge producing Tokyo Games after spectators are barred from competitions. This image shows a pictograph of triathlon in Tokyo on July 6.

Olympics 2021: NBC faces ‘hell of a challenge’ producing Tokyo Games after spectators are barred from competitions

July 9, 2021 3:54 AM CNN Newsource

By Oliver Darcy, CNN Business NBC was presented with a new challenge producing the 2021 Olympic Games on Thursday after organizers said that spectators will be prohibited from the Tokyo venues, a move that eliminates a key component of live sports broadcasts and could give the competitions an eerie feel. The setback, which was announced

Fans banned from Olympics as Japan declares COVID state of emergency

July 9, 2021 3:54 AM CNN

Fans were banned from the pandemic-postponed Tokyo Olympics which will open in two weeks, following a state of emergency on Thursday, Olympic Minister Tamayo Marukawa told the Japanese news agency Kyodo.

Wells Fargo shuts down all personal lines of credit, sparking outrage

July 9, 2021 7:06 AM CNN Newsource

By Allison Morrow and Matt Egan, CNN Business Wells Fargo is shutting down all of its existing personal lines of credit, sparking outrage from consumers and advocates. A spokesperson for the bank said Wells Fargo made the decision last year as part of an effort to simplify its product offerings. The bank feels it can

Microsoft's latest security flaw could have major repercussions.

Microsoft’s Windows security flaw is a big deal. Here’s what you can do about it

July 9, 2021 3:30 PM CNN Newsource

By Samantha Murphy Kelly, CNN Business Microsoft’s latest security vulnerability could have a lingering impact both on consumers and businesses at a time when many around the world are already on high alert for disruptive cyber attacks. Researchers at security firm Sangfor recently found a Windows vulnerability, called PrintNightmare, that could allow hackers to remotely

Instacart names Facebook executive Fidji Simo as CEO. Founder and current CEO Apoorva Mehta will serve as Executive Chairman of the board.

Instacart names Facebook exec Fidji Simo as CEO

July 8, 2021 1:32 PM CNN Newsource

By Sara Ashley O’Brien, CNN Business Instacart has tapped one of the top female executives from Facebook to be its next CEO ahead of a possible Wall Street debut. Fidji Simo, who served most recently as a vice president and head of the Facebook App, will replace Instacart’s cofounder Apoorva Mehta as chief executive of

Restaurant workers are calling it quits just as people are starting to dine out again and restaurants rush to reopen.

Restaurant workers are quitting in droves. That might not change anytime soon

July 8, 2021 12:29 PM CNN Newsource

By Danielle Wiener-Bronner, CNN Business Restaurant workers are calling it quits just as people are starting to dine out again and restaurants rush to reopen. In May, the rate of quits per share of employment in the accommodation and food services sector, which includes restaurants, was 5.7%, according to seasonally adjusted data released this week

Some of the highest gas prices in town are posted on a signboard at a gas station in downtown Los Angeles

Gas prices are above $3. Biden doesn’t have a magic wand to fix that

July 8, 2021 11:57 AM CNN Newsource

By Matt Egan, CNN Business President Joe Biden is being attacked for $3 gasoline. But the truth is the White House isn’t to blame for high gas prices — and has few options to lower them. The seven-year high in gas prices is all about supply and demand. Gas was dirt cheap last spring because

Gas prices are high. Here’s why

July 13, 2021 6:21 AM CNN

People are traveling more but oil supply hasn’t caught up with demand. CNN’s Matt Egan explains why the BIden administration needs to focus on energy diplomacy.

A spate of ransomware attacks in recent months has compromised critical infrastructure and disrupted daily life across the United States and globally

Why it’s so difficult to bring ransomware attackers to justice

July 8, 2021 11:52 AM CNN Newsource

By Rishi Iyengar, CNN Business An incident takes place. Law enforcement investigates. A culprit is identified, apprehended and prosecuted. That’s typically how we think of addressing a crime. But as some ransomware victims may now be discovering, that process is much more complicated when the criminal is on another continent and the crime takes place

The anatomy of a ransomware attack

July 8, 2021 11:52 AM CNN

A threatening voicemail, research into company executives and finances, even step-by-step guides to using cryptocurrency. These are some of the evolving tactics of ransomware groups that have turned this cybercrime into a highly lucrative underground business. As CNN’s Clare Sebastian reports, businesses and law enforcement are racing to get ahead of them.

The Federal Reserve Bank of Minneapolis is requiring all current employees to be fully vaccinated against Covid-19 by the end of August. The vaccination policy will also apply to the bank's future hires.

The Minnesota Fed is requiring all of its employees to be fully vaccinated

July 8, 2021 10:48 AM CNN Newsource

By Alexis Benveniste, CNN Business The Federal Reserve Bank of Minneapolis is requiring all current employees to be fully vaccinated against Covid-19 by the end of August. The vaccination policy will also apply to the bank’s future hires. More than 90% of the bank’s staff worked remotely during the pandemic. The Federal Reserve Bank of

The BMW Group headquarters are pictured in Munich

EU fines German carmakers for colluding on emissions

July 9, 2021 6:02 AM CNN

The European Commission has fined Volkswagen Group and BMW $1 billion for colluding with Daimler to hold back the development of technology that could have reduced harmful emissions from their vehicles. CNN’s Clare Sebastian reports.

The New York Stock Exchange stands in lower Manhattan on May 11 in New York City. Investors suddenly have renewed fears about another spike in Covid-19 cases -- and what that means for the global economy's still fragile recovery.

Bond yields plummet as Covid anxiety grips markets again

July 8, 2021 2:22 PM CNN Newsource

By Paul R. La Monica, CNN Business Worries about inflation are yesterday’s news. Investors suddenly have renewed fears about another spike in Covid-19 cases — and what that means for the global economy’s still fragile recovery. Just look at the bond market. Nervous traders are buying US 10-year Treasuries hand over fist, pushing their yields

A pedestrian passes by the New York Stock Exchange (NYSE) building in New York

Stocks tumble as concerns grow over Delta variant

July 9, 2021 3:18 PM CNN

Wall Street is worried the global economic rebound could be slowing. CNN’s Christine Romans explains.

Volkswagen and BMW fined $1 billion for running emissions cartel

July 9, 2021 6:02 AM CNN Newsource

By Hanna Ziady, CNN Business The European Commission has fined Volkswagen Group and BMW $1 billion for colluding with Daimler to hold back the development of technology that could have reduced harmful emissions from their vehicles. In a statement on Thursday, the Commission said the three German carmakers, along with Volkswagen subsidiaries Audi and Porsche,