By Ramishah Maruf, CNN Citing “rising crime and vagrancy,” Chase Bank has shuttered 24-hour access to some of its New York ATMs. Select ATM vestibules are closing at 5 pm or 6 pm, aligning more closely with normal branch hours, the bank tweeted in response to a complaint last week. A JPMorgan Chase spokesperson said
Continue Reading By Chris Isidore, CNN Few top executives have ever failed in a job so quickly — or so lucratively — as Geoff Morrell. He became Disney’s chief corporate affairs officer January 24, 2022, and the company promptly announced Morrell’s departure in late April. Morrell made about $150,000 a day for that quick stint in charge
Continue Reading By Julia Horowitz and Mia Alberti, CNN The two biggest economies in South America are starting talks to create a common currency. Analysts are skeptical. Brazil’s President Luiz Inacio “Lula” da Silva and Argentina’s President Alberto Fernández wrote in a joint piece published in Argentinian paper Perfil Sunday that they wanted to foster greater integration
Continue Reading By Chloe Melas, CNN The Washington Post is not for sale, spokespeople for the newspaper and its owner Jeff Bezos told CNN on Monday. They denied a New York Post report, which cited unnamed sources, suggesting the billionaire could shed the newspaper to help fund a potential purchase of the Washington Commanders NFL team. Bezos
Continue Reading By Danielle Wiener-Bronner, CNN Over the past year, M&M’s has been the subject of Fox News tirades and criticism from a small segment of fans — first for changing the Green M&M’s footwear and more recently featuring female M&M characters on its packaging for International Women’s Day. So this week it announced a change: Following
Continue Reading By Danielle Wiener-Bronner, CNN After causing outrage by making over the Green M&M and launching a special bag featuring its new Purple character in honor of International Women’s Day, M&M’S says it is taking a step back from its candy reps — sort of. “In the last year, we’ve made some changes to our beloved
Continue Reading By Matt McFarland, CNN Business Tesla CEO Elon Musk took the witness stand for a second day on Monday and attempted to explain the thought process behind his controversial “funding secured” tweet from 2018, pushing back at the idea that it was partly a joke. Musk, Tesla and company directors are facing a shareholder lawsuit
Continue Reading By Matt Egan, CNN For the first time since the early days of the pandemic, most business economists expect their companies to cut payrolls in the coming months, according to a new survey released Monday. Just 12% of economists surveyed by the National Association for Business Economics (NABE) anticipate employment will increase at their firms
Continue Reading By Alicia Wallace, CNN A key barometer for the health of the economy continues to flash a recession warning sign, indicating a downturn is in store for the US in the near future. A growing number of business leaders agree the US economy is getting worse. America is not in an official recession — not
Continue Reading By Samantha Murphy Kelly, CNN Business Microsoft on Monday confirmed it is making a “multibillion dollar” investment in OpenAI, the company behind the viral new AI chatbot tool called ChatGPT. Microsoft, an early investor in OpenAI, said it plans to expand its existing partnership with the company as part of a greater effort to add
Continue Reading By Paul R. La Monica, CNN Software giant Salesforce, one of the 30 stocks in the venerable Dow Jones Industrial Average, had a miserable 2022. Now the company is under attack from a big hedge fund that wants to shake things up at the company that owns Slack. Elliott Management, a firm that has taken
Continue Reading By Nicole Goodkind, CNN ESG funds — investments that evaluate companies using environmental, social and governance factors — just survived a tumultuous 2022. They also managed to perform in line with the general market while doing so, and attract new money — a good sign for the future of responsible investing. What’s happening: Russia’s war
Continue Reading By Anna Cooban, CNN Citadel is now the most successful hedge fund ever after it made $16 billion last year — the biggest annual windfall on record. The Miami-based fund, founded and run by Ken Griffin, topped the 2022 ranking of the world’s best-performing hedge funds based on estimates from LCH Investments NV. Its huge
Continue Reading By Jordan Valinsky, CNN Natural Light’s new cans will soon look a lot like their old ones. Drinkers will soon notice a retro-inspired makeover that mirrors the budget beer brand’s 1979 design, featuring a throwback logo, crest and colors. It’s part of a broader campaign to mature the beer’s identity, which is synonymous with college-aged
Continue Reading By Hanna Ziady, CNN Spotify said Monday that it will cut 6% of its workforce to reduce costs, joining tech companies including Amazon and Microsoft in slashing headcount as the global economy slows. In a letter to employees posted on the company’s website, CEO Daniel Ek took full responsibility for the job cuts, which he
Continue Reading By Diksha Madhok, CNN Asia’s richest man Gautam Adani says he is addicted to ChatGPT, the powerful new AI tool that interacts with users in an eerily convincing and conversational way. In a LinkedIn post last week, the 60-year-old India tycoon said that the release of ChatGPT was a “transformational moment in the democratization of
Continue Reading By Sophia Saifi, Azaz Syed and Rhea Mogul, CNN A nationwide power outage in Pakistan left nearly 220 million people without electricity on Monday, threatening to cause havoc in the South Asian nation already grappling with fuel shortages in the winter months. The country’s Ministry of Energy said in a statement the country’s National Grid
Continue Reading By Alicia Wallace, CNN After the United States hit its debt ceiling on Thursday, the Treasury Department is now undertaking “extraordinary measures” to keep paying the government’s bills. A default could be catastrophic, causing “irreparable harm to the US economy, the livelihoods of all Americans and global financial stability,” Treasury Secretary Janet Yellen has warned.
Continue Reading By Alicia Wallace, CNN After the United States hit its debt ceiling on Thursday, the Treasury Department is now undertaking “extraordinary measures” to keep paying the government’s bills. A default could be catastrophic, causing “irreparable harm to the US economy, the livelihoods of all Americans and global financial stability,” Treasury Secretary Janet Yellen has warned.
Continue Reading By Clare Duffy, CNN In January 2021, Microsoft CEO Satya Nadella spoke in lofty terms about how the first year of the pandemic had sparked a staggering shift toward online services, benefiting his company in the process. “What we have witnessed over the past year is the dawn of a second wave of digital transformation
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