Money

By Elisabeth Buchwald, CNN New York (CNN) — For the past two decades, the United States imported more goods from China than all other nations. That’s no longer the case. Mexico is now the top exporter of goods into the US, according to new trade data released by the Commerce Department on Wednesday. Mexico sent

By Hanna Ziady, CNN London (CNN) — Deutsche Pfandbriefbank, or PBB, a German lender focused on real estate, has set aside more money for bad debts as it braces for what it says is the worst decline in commercial property values in 15 years. PBB increased its provisions for losses on loans in the fourth

By Nicole Goodkind and Elisabeth Buchwald, CNN New York (CNN) — Troubled regional lender New York Community Bancorp attempted to reassure investors Wednesday that it has enough cash to stay afloat after the stock shed about 60% of its value over the past eight days and Moody’s Investors Service downgraded the bank’s credit grade to

By Chris Isidore, CNN New York (CNN) — Jennifer Homendy, chair of the National Transportation Safety Board, says that the problem that resulted in a door plug blowing out of a Boeing 737 Max 9 jet minutes into a January 5 flight could happen again. “Of course, something like this can happen again,” she told

CNN, NTSB, FAA By Chris Isidore, CNN New York (CNN) — Jennifer Homendy, chair of the National Transportation Safety Board, says that the problem that resulted in a door plug blowing out of a Boeing 737 Max 9 jet minutes into a January 5 flight could happen again. “Of course, something like this can happen

By Jordan Valinsky, CNN New York (CNN) — Taco Bell, KFC and Pizza Hut’s parent company is facing the same problem as its rivals: Fast food is getting too expensive and consumers are pushing back. Yum Brands, which owns all three chains, reported Wednesday weaker-than-expected sales in the fourth quarter. Despite the miss, shares rebounded

By Samantha Delouya, CNN (CNN) — After a recent trip with her husband and two children to Walt Disney World Resort in Orlando, Florida, Gina Lee said it felt like she had lost “all concept of money and time.” “It has gotten more expensive. It’s crazy,” said the New York-based content creator. “I feel like

By Laura He and Wayne Chang, CNN Hong Kong (CNN) — China has replaced the head of its securities regulator, as public anger over the meltdown in the stock market grows. Wu Qing, a banking veteran and most recently the deputy party secretary of Shanghai, was named as chairman and party secretary of the China

By Marshall Cohen, CNN (CNN) — The president of the far-right cable network One America News solicited additional information from an anonymous tipster who provided “stolen” passwords of Smartmatic employees after the 2020 election, according to emails recently disclosed in court and new allegations from the voting technology company. The revelation builds on CNN’s previous reporting that OAN President Charles Herring forwarded the purported Smartmatic

By Laura He, CNN Hong Kong (CNN) — China is promising to help its electric vehicle (EV) makers cope with international trade restrictions and build overseas supply chains, as part of a major global expansion effort for the industry. The pledge comes as China’s booming EV exports face increasing protectionist pushback in some regions, including

CNN By Jordan Valinsky and Alexandra Peers, CNN New York (CNN) — Women watch the Super Bowl, too, right? And this year a slew of advertisers is expecting it. Health and beauty companies, some for the first time, are joining the scrum of beverage, technology and auto brands that have long been a staple of

By Diksha Madhok, CNN New Delhi (CNN) — Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) is upping its output in Japan as it continues to expand its global presence. The world’s largest chipmaker will build a second semiconductor fabrication plant, or fab, in the country in “response to rising customer demand,” TSMC said in a

By Jordan Valinsky, CNN New York (CNN) — Coke has a problem: People are increasingly seeking out water, seltzer and other flavored drinks and treating the 137-year-old soda as, well, a treat. To counteract the trend, Coca-Cola over the past few years has experimented with wacky limited-time offerings to persuade customers to try Coke again.

By Elisabeth Buchwald, CNN New York (CNN) — Some of the very first signs of banking stress in the crisis that unfolded last year were reflected in Silicon Valley Bank, Signature Bank and First Republic Bank’s nosediving share prices. All of them eventually failed. So it’s no wonder why more people are questioning whether New

By Matt Egan, CNN (CNN) — Embattled regional bank New York Community Bancorp suffered another blow Tuesday evening as Moody’s Investors Service downgraded its credit rating to junk status. Moody’s said the downgrade was driven by concerns about “challenges” facing New York Community Bancorp after the lender shocked Wall Street last week by revealing a surprise

By Matt Egan, CNN (CNN) — The University of Pennsylvania plans to start a weekslong process of turning over documents to Congress on Wednesday in response to a House committee antisemitism investigation, a university spokesperson told CNN. However, the Ivy League school is signaling it won’t necessarily turn over all of the many documents the

By John Towfighi, CNN (CNN) — Relationship on the brink? Pizza Hut wants you to say goodbye with a Hot Honey pie. Pizza Hut launched its “Goodbye Pies” campaign February 6, which lets customers order free Pizza Hut delivery to the address of an ex-lover. From now until Valentine’s Day, customers can go to GoodbyePies.com

By Chris Isidore, CNN New York (CNN) — Last fall Ford agreed to a big raise for striking members of the United Auto Workers union. On Tuesday, they gave their shareholders an even bigger raise. The company announced it would give shareholders a second, supplemental dividend that will more than double the regular dividend they

By Oliver Darcy, CNN (CNN) — Three of the biggest sports broadcasters are uniting to create a super-platform that will house their sports assets under a single streaming roof, a seismic and once-unthinkable move as the industry rapidly transitions away from linear television to streaming services. Disney’s ESPN, Fox Corporation, and Warner Bros. Discovery (CNN’s parent

By Rene Marsh and Matt Egan, CNN (CNN) — The Department of Education on Tuesday announced a new investigation into Harvard University’s handling of alleged discrimination on its campus after a federal civil rights complaint was filed late last month against Harvard on behalf of Muslim and Palestinian students. The students said in the complaint