Money

By Chris Isidore, CNN Southwest Airlines’ customers are furious about the company’s Christmas week service meltdown. But fliers may forgive the company sooner than you think. The airline is paying the price for canceling about half of its schedule between December 20 and December 29 — more than 16,700 flights during the busy holiday season

By Jordan Valinsky, CNN Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy. These closures are in addition to the 150 closures Bed Bath and Beyond announced last August. Included in the new list are 5 buybuy Baby locations and all 49 remaining Harmon Face Value stores, which

By Diksha Madhok, CNN Gautam Adani looks set to cede his position as Asia’s richest man to another Indian billionaire as shares in his business empire continue to plunge following fraud allegations leveled by an American short seller. In an investigation published last Tuesday, Hindenburg Research accused Adani’s ports-to-power group of “brazen stock manipulation and

By Nicole Goodkind, CNN The Federal Reserve unanimously approved a quarter-point interest rate hike Wednesday, slowing the pace of its increases in a clear sign that the central bank is seeing progress in its fierce battle with inflation. The decision, at the conclusion of the Federal Open Market Committee’s first meeting of 2023, comes after

By Donald Judd President Joe Biden announced new progress Wednesday on his administration’s “competition agenda,” specifically taking aim at junk fees while calling on Congress to pass legislation targeting hidden fees across multiple industries. These costs can “drain hundreds of dollars a year from the pockets of hardworking American families, especially folks who are already

By Hilary Whiteman, CNN Authorities scanning a remote Australian highway for a tiny missing radioactive capsule have found it by the roadside, after a challenging search likened to trying to find a needle in a haystack. State emergency authorities announced the discovery on Wednesday afternoon, six days after the capsule, containing highly radioactive Caesium-137, was

By Swati Gupta and Rhea Mogul, CNN An Indian court on Tuesday sentenced self-proclaimed spiritual guru Asaram Bapu to life imprisonment on charges of rape and sodomy, according to his lawyer. The verdict is the second life term against the octogenarian, who is already serving a life sentence following his 2018 conviction for raping a

By Hanna Ziady, CNN As many as half a million workers are striking across Britain on Wednesday, closing schools, canceling university lectures and bringing most of the rail network to a standstill in what unions say is the biggest single day of walkouts in more than a decade. Teachers, university staff, train drivers and civil

By Laura He, CNN Three years of strict pandemic controls in China and a real estate crash have drained local government coffers, leaving authorities across the country struggling with mountains of debt. The problem has gotten so extreme that some cities are now unable to provide basic services, and the risk of default is rising.

By Nathaniel Meyersohn, CNN Sneakers designed to feel like running barefoot used to be the hottest phenomenon in exercise. Now, the opposite is true. The ugliest, chunkiest sneaker brand is flying off the shelves. Hoka, which started in 2009 in France as a running shoe for hardcore marathoners, is growing rapidly with casual runners, hikers

By Julia Horowitz, CNN One of the main jobs of central banks is to keep prices under control, allowing households and businesses to plan for the future with some certainty on what things will cost. So when inflation started to climb in the aftermath of the pandemic — catching many policymakers off guard — and

By Paul R. La Monica, CNN New year, new attitude on Wall Street. Stocks are off to a strong start in 2023 following last year’s abysmal showing. The Dow gained nearly 3% in January. The S&P 500 rose 6% and the tech-heavy Nasdaq Composite soared almost 11%. That’s the Nasdaq’s best month since July. Stocks