Money

By Diksha Madhok, CNN (CNN) — Stung by a Delaware court ruling earlier this week that struck down his record Tesla pay package, Elon Musk says he is seeking shareholder approval to incorporate the company in Texas. Soon after Tuesday’s ruling about his 2018 salary package — worth about $51 billion at current stock prices

By Hanna Ziady, CNN London (CNN) — Deutsche Bank is cutting 3,500 jobs as it pushes ahead with a plan to reduce costs by €2.5 billion ($2.7 billion) by 2025. Germany’s biggest lender said Thursday that it had made progress towards the target but still had to find savings of €1.6 billion ($1.7 billion), some

By Samantha Delouya, CNN (CNN) — Disney is banning password sharing on its streaming services, following in the footsteps of competitor Netflix. In an email to Hulu subscribers on Wednesday, the company said it would start “adding limitations on sharing your account outside of your household” beginning March 14. Hulu’s user agreement, along with the

By Elisabeth Buchwald, CNN New York (CNN) — Regional bank stocks are back in the hotseat thanks to a truly horrific financial report from New York Community Bancorp. On Wednesday, the regional lender reported a surprise loss of $252 million last quarter compared to a $172 million profit in the fourth quarter of 2022. The

CNN By Samantha Delouya, CNN (CNN) — A US judge has dismissed Disney’s lawsuit against Florida Gov. Ron DeSantis and his political allies, including the board he appointed to oversee Disney’s property in Florida. The judge’s ruling is a win for the governor’s escalating legal battle with the entertainment giant. The lawsuit, which was filed

By Oliver Darcy and Liam Reilly, CNN (CNN) — The Messenger, the upstart digital news outlet that hired hundreds of journalists and vowed to upend the industry as a centrist publication, will shut down less than a year after its high-profile launch, the company said Wednesday. The collapse of the outlet, founded by media entrepreneur Jimmy Finkelstein, marks one of

By Jeanne Sahadi, CNN New York (CNN) — Editor’s Note: This is an update of an article that ran on December 13, 2023. The Federal Reserve on Wednesday did it again. For the fourth meeting in a row, it left its key interest rate at a 23-year-high, as Fed observers and market watchers continue to

By Samantha Delouya, CNN (CNN) — A US judge has dismissed Disney’s lawsuit against Florida Gov. Ron DeSantis and his political allies, including the board he appointed to oversee Disney’s property in Florida. The judge’s ruling is a win for the governor’s escalating legal battle with the entertainment giant. The lawsuit, which was filed by

CNN By Jeanne Sahadi, CNN New York (CNN) — Editor’s Note: This is an update of an article that ran on December 13, 2023. The Federal Reserve on Wednesday did it again. For the fourth meeting in a row, it left its key interest rate at a 23-year-high, as Fed observers and market watchers continue

CNN By Clare Duffy, CNN New York (CNN) — Wednesday’s online youth safety hearing with some of the world’s leading social media CEOs was unlike the many that came before it in recent years. But it wasn’t because of anything the executives said. Instead, it was the families sitting behind them — many holding photos

Analysis by David Goldman, CNN New York (CNN) — Editor’s Note: This story includes graphic descriptions some readers may find disturbing. A disturbing video of a man holding what he claimed was his father’s decapitated head circulated for hours on YouTube. It was viewed more than 5,000 times before it was taken down. The incident

By Elisabeth Buchwald, CNN New York (CNN) — Federal Reserve officials have said countless times they take a “data-dependent approach” to their policy decisions, including their current conundrum of when to slash interest rates. But what if the data isn’t as dependable as it once was? That’s what appears to be happening — and it’s

By Hanna Ziady, CNN London (CNN) — New border controls on some of Britain’s food imports from the European Union came into force Wednesday for the first time since Brexit, increasing red tape for businesses and threatening to drive up prices for consumers. Meat, eggs, fish and dairy are among a raft of fresh produce

By Chris Isidore, Pete Muntean and Gregory Wallace, CNN New York (CNN) — Boeing CEO Dave Calhoun said that Boeing is responsible for the incident of door plug blowing out of a 737 Max 9 in flight earlier this month, saying that Boeing must do a better job than it did in this instance. “We

By Anna Cooban, CNN London (CNN) — Universal Music Group has threatened to pull its music off TikTok in a dispute over royalties, a move that would prevent more than 1 billion users of the platform from streaming a vast catalog of songs by Taylor Swift, Ariana Grande, Rihanna and other artists. On Tuesday, Universal

By Olesya Dmitracova, CNN London (CNN) — Helena Helmersson stepped down Wednesday as chief executive of H&M, bringing an abrupt end to her four-year tenure and triggering a surprise change in leadership at one of the world’s largest fashion retailers. “I am very proud of what we together have achieved during the last years when

By Brian Fung and Clare Duffy, CNN Washington (CNN) — A group of social media bigwigs was grilled by Congress on Wednesday about the risks their products pose to young people. The chief executives of Meta, TikTok, Snap, Discord and X, formerly known as Twitter, testified before the Senate Judiciary Committee earlier Wednesday. The hearing

By Michelle Toh, CNN Hong Kong (CNN) — Samsung posted its fourth straight quarter of slumping profits on Wednesday, capping off a dismal year that also saw it lose its crown as the world’s top smartphone maker. The South Korean tech giant posted a 35% drop in profit on Wednesday, in a sign of how