Money

By Nicole Goodkind, CNN Companies have been eager to please Wall Street in what has so far been a lackluster earnings season by repurchasing shares and boosting dividends for shareholders. What’s happening: Buyback announcements reached a new record of $1.22 trillion last year, and they’re already on track to beat that high in 2023. Companies

By Jordan Valinsky, CNN Adidas’ breakup with Ye, formerly known as Kanye West, is a pricey one. The company warned Thursday that it’s expected to lose $1.3 billion (1.2 billion euro) in revenue this year because it’s unable to sell the designer’s Yeezy clothing and shoes. Adidas ended its nine-year partnership with the rapper last

By Nathaniel Meyersohn, CNN The sports gambling gold rush is coming at a high cost. In 2018, the Supreme Court struck down a federal ban on commercial sports betting in most of the country. Thirty-three states have made sports gambling legal in the wake of the decision. Now, on Super Bowl Sunday, a record 50.4

By Julia Horowitz, CNN When US President Joe Biden signed the Inflation Reduction Act into law, he enacted the biggest climate investment in American history — a landmark moment for a nation that pumps more carbon into the atmosphere than any country bar China. “Our Department of Energy estimates that the new law will reduce

By Anna Cooban and Radina Gigova, CNN Russia will cut crude oil production by half a million barrels per day starting in March, a little over two months after the world’s major economies imposed a price cap on the country’s seaborne exports. “We will not sell oil to those who directly or indirectly adhere to

By Olesya Dmitracova and Rob North, CNN The UK economy flatlined in the last quarter of 2022, meaning that it just managed to avoid falling into a recession. But the outlook for this year is much worse. Gross domestic product (GDP) had fallen 0.2% in the July-September quarter, and two consecutive quarters of contraction would

By Danielle Wiener-Bronner, CNN Coca-Cola is releasing a new limited-edition flavor, Coca-Cola Move, in collaboration with Grammy-award winning singer Rosalía. As with its other high-concept flavors, Coca-Cola isn’t sharing what Move is actually supposed to taste like. Like Starlight, Byte and Dreamworld before it, Move doesn’t have a traditional flavor, such as cherry. Instead, the

By Oliver Darcy, CNN President Joe Biden has not yet committed to a pre-Super Bowl interview with Fox News, a person at the channel familiar with the matter said, a move that suggests the Democrat may buck the tradition of granting the network broadcasting the big game an interview. “We don’t have a formal no,

By Jackie Wattles and Kristin Fisher, CNN SpaceX just attempted to ignite all 33 engines in a test fire of its gargantuan Super Heavy rocket booster. The trial marks the company’s first “static fire” test for what is expected to be the most powerful launch vehicle ever built. The Super Heavy booster started its engines

By Anna Bahney, CNN Even as rents are cooling in some parts of the country, it has never cost more to rent a Manhattan apartment during the month of January as it did last month. January is normally a slow month for housing, but median rent last month was the highest of any January on