Money

By Chris Isidore, CNN New York (CNN) — Cash-starved Boeing, contending with massive financial losses from a crippling strike and years of operational and safety problems, is turning to major banks and Wall Street to raise tens of billions of dollars in cash. In a regulatory filing early Tuesday, the company announced plans to borrow

By Nathaniel Meyersohn, CNN New York (CNN) — Ken Frazier grew up in a poor Philadelphia neighborhood as the son of a janitor and grandson of a man born into slavery. He rose to the heights of corporate America as CEO of Merck from 2011 to 2021, becoming the first Black chief executive of a

By Elisabeth Buchwald, CNN New York (CNN) — Up until a few weeks ago, residents of western North Carolina likely gave little consideration to purchasing flood insurance. But last month Hurricane Helene flooded much of that area, as well as other parts of the Southeast, resulting in up to $30 billion in uninsured flood damage.

By Nicole Goodkind, CNN New York (CNN) — Wall Street traders are popping champagne and toasting the two-year anniversary of a period of outsized gains known as a bull market. This two-year mark is known in gift-giving terms as the cotton anniversary. And with US dollars made up of 75% cotton, traders are celebrating with

By Nathaniel Meyersohn, CNN New York (CNN) — Expect to see fewer promotions at Starbucks. The coffee chain is scaling back promotional offers through its mobile app to get customers to pay full price for its coffees and teas, the Wall Street Journal first reported Monday and confirmed by CNN. The move is part of

By Matt Egan, CNN New York (CNN) — Hurricane Milton passed through Florida days ago, but the devastating storm is still causing chaos at gas stations. Hundreds of gas stations in Florida still don’t have gas, including roughly half of the stations in the hard-hit Tampa area. Floridians who are fortunate to access working gas

By Jordan Valinsky, CNN New York (CNN) — True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday. In a press release, True Value said it will continue day-to-day operations of selling hardware and other homeware tools to

By Jordan Valinsky, CNN New York (CNN) — Bath and Body Works has stopped selling a candle that was emblazoned with a winter theme that many commenters online compared to a Ku Klux Klan hood. The candle’s label, called “Snowed In,” was decorated with a stylized paper snowflake. But many people on social media compared

By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s social media company is on fire on Wall Street. It’s all about Trump’s perceived chances of retaking the White House. Up until very recently, Trump Media & Technology Group had been in meltdown mode. Its share price dropped to a record low of

By Christian Edwards, CNN London (CNN) — Three economists were awarded the Nobel Prize Monday for their research into how the nature of institutions helps explain why some countries become rich and others remain poor. Daron Acemoglu, Simon Johnson and James Robinson will share the prize, which carries a cash award of 11 million Swedish

By Vanessa Yurkevich, CNN (CNN) — For the past month TikTok users have been commenting on Nutter Butter’s account. “You good?” asked one. “Nutter Butter are you paying for my therapy or?” asked another. Some users have posted complete video responses trying to understand what was going on, tagging their posts “#weird.” The posts from

By Ramishah Maruf, CNN New York (CNN) — On the second Monday of October, Americans will be celebrating Indigenous Peoples’ Day, also known as Columbus Day. Indigenous Peoples’ Day recognizes the contributions and legacy of those who lived here long before Christopher Columbus erroneously claimed to have discovered America. President Joe Biden formally recognized Indigenous Peoples’ Day

By Vanessa Yurkevich, CNN (CNN) — Sunday marks one month since members of the International Association of Machinists began their strike against Boeing. The cost: nearly $5 billion, according to a new analysis by Anderson Economic Group, shared exclusively with CNN. That multi-billion-dollar tab highlights the difficulties facing the aircraft maker, once a byword for

By Erika Tulfo, CNN (CNN) — From cowboy boots to fried chicken-scented charms, foam footwear maker Crocs has a reputation for quirk. This month, Crocs is putting its best paw forward: The quirky-but-comfortable footwear maker is releasing a line of clogs for dogs. Pet Clogs are part of a partnership with pet supply company and

By Liam Reilly, CNN New York (CNN) — Former President Donald Trump’s campaign connected with Elon Musk’s X last month to discuss hacked Trump campaign materials circulating on the social media platform before X blocked links to the files and banned the independent journalist who published the materials, a person familiar with the matter told

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — The CEO of Boeing told employees late Friday that the company plans to cut 10% of its total staff “over the coming months.” “Our business is in a difficult position, and it is hard to overstate the challenges we face together,” said Kelly Ortberg,

By Jordan Valinsky, CNN New York (CNN) — A screen-time limit tool on TikTok doesn’t work in limiting teen usage, the company’s own analysis reportedly found, according to in unredacted documents accidentally revealed as part of a major lawsuit. The documents, obtained by Kentucky Public Radio (KPR) and reported in conjunction with NPR, reveal TikTok

By Jordan Valinsky, CNN New York (CNN) — Several hundred “underperforming” 7-Eleven locations across North America are closing, the convenience store announced. Seven & I Holdings, the chain’s Japan-based parent company, revealed in an earnings report Thursday that 444 locations of 7-Eleven are shutting down because of a variety of issues, including slowing sales, declining

By Alicia Wallace, CNN (CNN) — Inflation for US producers slowed further in September, adding to hopes that prices aren’t getting jacked up before they get to consumers. The Producer Price Index, which measures average price changes seen by producers and manufacturers, came in at 1.8% for the year that ended in September, a slight

By Jordan Valinsky, CNN New York (CNN) — Fisher-Price is recalling more than 2 million infant Snuga Swings due to a suffocation risk found after reports that five children died sleeping in the device. In an alert issued by the US Consumer Product Safety Commission (CPSC), the $160 device “should never be used for sleep