Money

By Chris Isidore, CNN New York (CNN) — Macy’s announcement Tuesday that it will close 150 stores, or nearly a third of its total, is the result of a once-great department store industry in decades of decline. The gradual demise of the American department store can be blamed on many factors: competition from big box

By Parija Kavilanz, CNN New York (CNN) — Family Dollar Stores was hit with a record fine for violating product safety standards after selling items that were stocked in a rat-infested warehouse filled with live, dead and decaying rodents. The retailer, a subsidiary of Dollar Tree was fined $41.6 million, “the largest-ever monetary criminal penalty

By Parija Kavilanz, CNN New York (CNN) — Millennials and GenZers are redefining lifestyle trends – from the way we dress, live, work and socialize to how we celebrate life moments. That includes weddings. Formalities like big wedding parties with bridesmaids and groomsmen divided by gender, people getting married in churches, even practices that seemed

By Tami Luhby, CNN (CNN) — Alabama’s Supreme Court ruling that frozen embryos are children could have an even greater impact on would-be parents in the state — and elsewhere if other states follow suit — than it would have just a few years ago. That’s because more employers are providing fertility benefits to their

By Jordan Valinsky, CNN New York (CNN) — It wouldn’t be a Caitlin Clark game without a record being broken. The Iowa guard, who has seen her popularity explode since becoming the all-time leading scorer in NCAA women’s basketball earlier this month, is now causing ticket prices to hit new heights. Tickets to see Clark

By Michael Nam, CNN New York (CNN) — Electronics giant Sony announced on Tuesday that it will be cutting 900 jobs, or 8%, in PlayStation’s global workforce. The layoffs will impact all regions for Sony Interactive Entertainment, according to the PlayStation press release, with its in-house London studio, responsible for the competitive singing video game

By Anna Cooban, CNN London (CNN) — The Magnificent 7 tech stocks have been a big part of the extraordinary US market rally. But there’s a rival group of companies powering European stocks to new heights with even better returns, by some measures. Dubbed the “Granolas,” those 11 companies accounted for 60% of the gains

By Jordan Valinsky, CNN New York (CNN) — Expedia, the online travel agency, is eliminating about 1,500 employees as part of an “organizational and technological transformation.” The cuts, which amount to nearly 9% of its 17,100-strong global workforce, come amid slowing travel demand following a post-pandemic boom and a broader shakeup at the company, including

CNN By Nathaniel Meyersohn, CNN New York (CNN) — Macy’s is getting a new, smaller, but more luxurious look designed to turn around the troubled retailer and keep the century-and-a-half old brand relevant to rapidly changing demands from shoppers. First, Macy’s will have to downsize. The company is closing 150 underperforming stores — 50 by

By Jeanne Sahadi, CNN New York (CNN) — The Federal Trade Commission last week sued the tax preparation company H&R Block for, in essence, allegedly making it more difficult for consumers to downgrade to a lower cost or free online filing package and for misleading many into believing they qualify for free filing when they

By Bryan Mena, CNN Washington, DC (CNN) — Americans’ attitudes toward the economy soured in February after a three-month streak of improving moods, according to The Conference Board’s latest consumer survey released Tuesday. The survey’s index fell in February to 106.7, down from a reading of 110.9 in January. Americans became less worried about rising food

By Anna Bahney, CNN Washington, DC (CNN) — US home prices hit an all-time high in December, according to data released Tuesday. Prices were up 0.2% from the month before, seasonally adjusted data from the S&P CoreLogic Case-Shiller US National Home Price Index showed. That continues a streak of seven consecutive record highs in 2023.

By Matt Egan, CNN New York (CNN) — Americans are increasingly falling behind on their credit card bills and car loans as years of high inflation take their toll. This spike in delinquencies is raising fears about the Buy Now, Pay Later boom. Critics worry these increasingly popular short-term lenders are allowing shoppers to pile

CNN By Matt Egan, CNN New York (CNN) — Americans are increasingly falling behind on their credit card bills and car loans as years of high inflation take their toll. This spike in delinquencies is raising fears about the Buy Now, Pay Later boom. Critics worry these increasingly popular short-term lenders are allowing shoppers to

By Jordan Valinsky, CNN New York (CNN) — The price of a Wendy’s Frosty could soon fluctuate throughout the day as the chain looks to introduce Uber-like surge pricing on its menu. The practice, known as “dynamic pricing,” will begin testing in 2025, Wendy’s recently revealed in an earnings call. It’s part of a $20

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. Kara Swisher is not shying away from her trademark tell-it-as-it-is MO. As existential questions confront both the tech and media industries, the

By Nathaniel Meyersohn, CNN New York (CNN) — Macy’s is getting a new, smaller, but more luxurious look designed to turn around the troubled retailer and keep the century-and-a-half old brand relevant to rapidly changing demands from shoppers. First, Macy’s will have to downsize. The company is closing 150 underperforming stores — 50 by the

By Bryan Mena, CNN Washington, DC (CNN) — The US economy is set to reap considerable benefits from Americans taking popular medications used for weight loss, including Ozempic and Wegovy, Goldman Sachs analysts wrote in a recent research report. Those drugs are part of a powerful new class of medications that has taken the world

By Chris Isidore and Tami Luhby, CNN New York (CNN) — Few states are as closely associated with a single industry as Michigan and autos. But auto jobs aren’t as dominant in the state as they once were, and Michigan – which holds its Republican and Democratic primaries on Tuesday – has lost many of

By Laura He, CNN Hong Kong (CNN) — Washington will allow Chinese airlines to further increase their direct passenger flights to the United States, as it takes another step in gradually restoring aviation services that had been affected by the Covid-19 pandemic and an air travel dispute between the two countries. From March 31, Chinese