Money

By Hanna Ziady, CNN London (CNN) — The Israel-Hamas war is likely to hurt other economies in the Middle East, including Egypt, Lebanon and Jordan, International Monetary Fund (IMF) managing director Kristalina Georgieva said Wednesday. “The channels of impact are already visible,” she told CNN’s Richard Quest at the Future Investment Initiative — dubbed “Davos

By Alicia Wallace, CNN Minneapolis (CNN) — In 2021, when the price of organic cotton and other raw materials spiked, the family that runs White Lotus Home, a New Jersey-based sustainable bedding company, hoped the 20% to 25% jumps were merely momentary and opted to absorb most of the costs. But earlier this month, Marlon

By Chris Isidore, CNN New York (CNN) — Cost overruns for the new Air Force One jets continue to pile on massive losses for Boeing. Boeing on Wednesday reported another $482 million in red ink on the contract to retrofit two 747 jets into the next generation of the presidential plane. Boeing has now lost

By Jordan Valinsky, CNN New York (CNN) — Bud Light might be experiencing a knockout of its own, but this time it’s on purpose. The Anheuser-Busch beer is becoming the official sponsor of mixed martial arts league UFC, the two companies announced, as part of a broader effort to revive Bud Light from a sales

By Matt Egan, CNN New York (CNN) — Danielle Foskie is among a growing number of Americans who have stumbled into a credit card doom loop. Foskie, a registered dental hygienist who lives outside of Cleveland, Ohio, couldn’t pay the bills when Covid-19 interrupted business at the dentist office where she works. She turrned to

By Nicole Goodkind, CNN New York (CNN) — In an unstable economic climate marked by geopolitical unrest, concerns about the Federal Reserve and soaring Treasury yields, investors are closely watching this week’s Big Tech earnings for clues about where the volatile stock market may head next. The world’s biggest multinational companies could offer Wall Street

By Oliver Darcy, CNN Business (CNN) — It’s raining “guilty” pleas in Trump-world. Jenna Ellis, the Salem Media host who served as one of Donald Trump’s 2020 campaign attorneys, pleaded guilty on Tuesday to a felony charge of aiding and abetting false statements in the Georgia election subversion case. Her plea deal, the third in

By Anna Cooban, CNN London (CNN) — Shares in Deutsche Bank surged nearly 7% Wednesday after it said strong earnings meant it could pay out more cash to shareholders over the next two years than previously anticipated. Germany’s biggest lender said in its third-quarter report that it was on track to notch up annual revenue

By Ramishah Maruf, CNN New York (CNN) — The University of Pennsylvania’s administration faces an overwhelming backlash from donors, many of whom are pulling their funds and calling on the Ivy League institution’s president to resign. The root of their anger: A Palestine Writes Literature Festival that took place on campus last month that donors

By Michelle Toh, CNN Hong Kong (CNN) — Mitsubishi Motors will stop producing vehicles in China, in the latest sign of retreat by foreign automakers in the world’s biggest car market. Following weeks of speculation, the Japanese carmaker confirmed Tuesday that it would wind down local manufacturing and exit a long-running joint venture in mainland

By Donie O’Sullivan and Eyad Kourdi, CNN (CNN) — When Google Maps users navigated to the Rafah border crossing between Gaza and Egypt on Tuesday, they might have seen placenames that included, “F**k Israel,” and “May god curse Israel’s Jerusalem.” Cyber activists appeared to have targeted the service to post anti-Israel messages, likely by taking

By Matt Egan, CNN New York (CNN) — The United States along with some Middle Eastern nations are stepping up efforts to target a “secret” Hamas investment portfolio government officials believe to be worth up to $1 billion. To target the Hamas investment portfolio, a US official said Tuesday the Treasury Department is working with

By Clare Duffy and Catherine Thorbecke, CNN New York (CNN) — Big tech companies are continuing a turnaround from last year, as Alphabet, Microsoft and Snap kicked off earnings season with strong sales results for the quarter ended in September. Google parent company Alphabet on Tuesday reported quarterly sales of $76.69 billion, up 11% from

By Samantha Murphy Kelly, CNN (CNN) — Apple announced its second product event of the season, a month after introducing its new iPhone 15 lineup. New iMacs are likely. The company sent invitations to members of the media for a scheduled keynote on Monday, October 30 at 8:00 p.m. ET/5:00 p.m. PT, later than it

Sergio Padilla (CNN) — Months after the collapse of a handful of regional banks like Signature Bank, First Republic Bank and Silicon Valley Bank, and amid fears of a credit crisis, it looks like the regional banking sector may not be out of the woods quite yet. Following the bank closings, many other regional banks

By Peter Valdes-Dapena, CNN (CNN) — The California Department of Motor Vehicles Tuesday revoked Cruise’s permits to test and operate fully driverless vehicles on the state’s roads. The California DMV said, in part, it was because Cruise, which is GM’s self-driving vehicle technology subsidiary, withheld video and information about a crash involving a pedestrian. The

By Krystal Hur, CNN New York (CNN) — Investors have much on their minds these days, but there’s one thing seemingly staying under the radar. The Israel-Hamas war, which began in early October, initially rattled global financial markets, sending stocks tumbling, the Israeli shekel sliding and oil prices climbing. The US bond market, which was

By Jordan Valinsky, CNN Business New York (CNN) — Taco Bell has won its fight over the “Taco Tuesday” trademark in all 50 states now that lone holdout — a restaurant in New Jersey — has “parted ways” with the term. The chain’s months-long efforts to cancel usage of the trademark ended Tuesday, with Taco

By Hanna Ziady, CNN London (CNN) — The UK has abandoned a cap on bankers’ bonuses, in its latest push to boost the competitiveness of London’s financial industry following Brexit. The rule limiting banker bonuses to two times annual base pay was introduced a decade ago in the wake of the global financial crisis when

By Vanessa Yurkevich and Chris Isidore, CNN (CNN) — The United Auto Workers union took its most serious shot yet at General Motors in its five-week old strike as 5,000 members walked off the job at a plant in Texas. Arlington Assembly builds GM’s very profitable full-size SUVs, the Chevrolet Tahoe and Suburban, GMC Yukon