Money

By Kristina Sgueglia, CNN Walmart agreed to the framework of a $3.1 billion settlement, which resolves allegations from multiple states’ attorneys general that the company failed to regulate opioid prescriptions contributing to the nationwide opioid crisis. The settlement, according to the office of New York Attorney General Letitia James, who co-led a coalition of attorneys

By Nathaniel Meyersohn, CNN Business Wealthier customers pinched by inflation are switching to Walmart for groceries, boosting sales at America’s largest retailer. Walmart on Tuesday reported annual US sales growth of 8.2% last quarter at stores open for at least a year. The results beat Wall Street analysts’ expectations, pushing Walmart’s stock up around 6%

By Nicole Goodkind, CNN Business The crypto industry is still reeling from last week’s shocking death spiral of digital currency exchange FTX. The company’s bankruptcy filing has left financial backers in the lurch — including the usual suspects in Silicon Valley, from Masayoshi Son’s SoftBank to VC firm Sequoia. A few names on the list

By Matt Egan, CNN Business In the span of just three years, Sam Bankman-Fried built FTX into a massive crypto exchange backed by marquee investors and valued at $32 billion. It took mere days for all of that to implode in a sprawling bankruptcy filing. Sheila Bair, a top regulator during the 2008 financial crisis,

By Danielle Wiener-Bronner, CNN Business Oscar Mayer. Velveeta. Capri Sun. Kraft Heinz CEO Miguel Patricio admits: Some of the company’s iconic products had become “a little bit dusty.” “For a while, we were apologetic about the brands that we had,” Patricio told CNN Business. “We got distracted believing that the future was launching new small

By Michelle Toh, CNN Business Binance founder and CEO Changpeng Zhao is once again in the global spotlight, this time as the self-appointed white knight of crypto as the industry is embroiled in crisis. The Canadian billionaire has made headlines this week for offering to come to the aid of entrepreneurs who are facing a

By Diksha Madhok, CNN Business Shares of Taiwan Semiconductor Manufacturing Company surged on Tuesday after Warren Buffett’s Berkshire Hathaway disclosed that it had purchased a $4.1 billion stake in one of the world’s largest chipmakers. In a filing with the United States’ Securities and Exchange Commission on Monday, Berkshire Hathaway said it acquired about 60

By Chris Isidore and Vanessa Yurkevich, CNN Business A third railroad union has rejected a tentative labor deal, a move that further raises the odds that America’s 110,000 freight railroad workers will go on strike early next month. The rank and file members of the International Brotherhood of Boilermakers voted against a tentative agreement reached

By Allison Morrow, CNN Business As the dust settles from one of the most shocking financial implosions in history, one of the key unknowns is how much customers who can’t access their money expect to get back from FTX, the crypto exchange that filed for bankruptcy last week. The answer, according to legal experts, may