Money

By Jeanne Sahadi, CNN (CNN) — In the next few months, most Americans will be focused on getting their tax documents together to complete their 2024 returns. But for anyone who buys and sells digital assets like bitcoin, it is worth knowing that 2025 will mark the first tax year that your crypto transactions will

By Clare Duffy, CNN New York (CNN) — TikTok is still three days away from a likely ban in the United States, but many users are already bidding the app farewell and seeking out alternatives. Influencer Jasmine Chiswell posted a video Tuesday, showing her frowning over text that reads: “Me saying goodbye to 18 million

By David Goldman, Kaitlan Collins and Kayla Tausche, CNN (CNN) — President-elect Donald Trump is weighing a plan that could delay America’s TikTok ban, giving the new administration more time to potentially cut a deal with a US buyer to save the super-popular video app, sources familiar with the plans told CNN. The potential executive

By Liam Reilly, CNN New York (CNN) — Prominent right-wing media personalities are calling on the federal government to withhold or place conditions on aid for victims of the devastating Los Angeles wildfires, blaming California’s own policies for the scale of the devastation and response. As firefighters slowly gain control of the wildfires raging near

By Brian Stelter, CNN New York (CNN) — A recent exodus of talent from The Washington Post has prompted more than 400 of its staffers to send an unusual letter to the Post’s owner, Jeff Bezos, expressing alarm over the newspaper’s direction and asking him to intervene. The employees, including some of the Post’s best-known

By Chris Isidore, CNN New York (CNN) — More than $100 million has been raised for California wildfire victims on GoFundMe so far. But some of those fundraising efforts could actually end up limiting the money that would be available through the Federal Emergency Management Agency. FEMA can provide financial assistance for those who lost

By John Towfighi, CNN New York (CNN) — US stocks surged higher Wednesday after an encouraging inflation report and blockbuster profits for some of America’s biggest banks. The Dow surged 703 points, or 1.65%, to close at 43,222. The S&P 500 rose 1.83% and the tech-heavy Nasdaq Composite ended the day higher by 2.45%. The

By Alicia Wallace, CNN (CNN) — Recently, progress on inflation appeared to be stuck or, at worst, reversing: A closely watched gauge of underlying price hikes — an index that excludes highly volatile categories — hadn’t budged for months. On Wednesday, it got unstuck. The closely watched core measurement of the Consumer Price Index slowed

By Jeanne Sahadi, CNN (CNN) — If keeping up with tax changes in the law were a sport, 2017 and 2025 might be considered the Tax Olympics. Recall that during the first year of President-elect Donald Trump’s first term, lawmakers defied the odds and passed the largest overhaul of the tax code in more than

By Jordan Valinsky, CNN New York (CNN) — Joann, the fabrics and crafts retailer, has filed for bankruptcy for a second time within a year and announced that it’s seeking a sale. The 82-year-old retailer said in statement Wednesday that sluggish sales and inventory issues forced Joann to file for Chapter 11 again. Joann first

By Hanna Ziady, CNN London (CNN) — Germany’s economy, the largest in Europe, contracted for the second year in a row in 2024, official data showed Wednesday, underscoring the challenges facing the region as it tries to get economic growth back on track. Germany’s gross domestic product fell 0.2% last year, according to the country’s

By Jordan Valinsky, CNN New York (CNN) — There’s no better example of having a case of Mondays than the day after the Super Bowl. Coors Light announced Wednesday that it’s temporarily changing its name to “Mondays Light” in an attempt to “bring chill to one of the worst Mondays of the year” by selling

By Chris Isidore, CNN New York (CNN) — There’s a good chance your car knows all about you. Where you’ve been. How fast you drive. If you could’ve been a little easier on the brakes. Even what you look like, thanks to cameras pointed right at your face. This kind of data collection has been

By Ramishah Maruf, CNN New York (CNN) — The US Securities and Exchange Commission sued Elon Musk on Tuesday for allegedly failing to properly disclose his ownership of X, then known as Twitter, as required by federal law, which allowed him to buy shares of the platform at “artificially low prices.” Before he closed his

By Tami Luhby, CNN (CNN) — Pharmacy benefit managers, which serve as the middlemen between drug makers, insurers and pharmacies, reaped $7.3 billion in revenue from marking up the prices of dozens of specialty generic drugs between 2017 and 2022, the Federal Trade Commission said in an interim report issued Tuesday. The practice came at

By Matt Egan and Paul P. Murphy, CNN (CNN) — The Colonial Pipeline has temporarily shut its main gasoline line – America’s largest fuel pipeline – because of leak in Georgia, the pipeline’s operator and local officials said. Line 1 of the 5,500-mile Colonial Pipeline had a “gasoline release,” according to Stephen Dooley, Paulding County

By Ramishah Maruf and Clare Duffy, CNN New York (CNN) — Meta is aiming to cut about 5% of what it calls its “lowest performers” with plans to backfill those roles later this year, the company confirmed on Tuesday. Those jobs cuts could affect about 3,600 workers, based on Meta’s latest quarterly report citing a

By Jordan Valinsky, CNN New York (CNN) — Brown-Forman, the parent company of Jack Daniel’s whiskey and Woodford Reserve bourbon, is laying off approximately 12% of its 5,400 employees amid a downturn in spirits sales. The Louisville-based company has hiked prices in recent years to offset inflation and shield itself from the rising costs of