Money

By Nathaniel Meyersohn, CNN New York (CNN) — “Let them eat Corn Flakes” appears to be Kellogg’s CEO Gary Pilnick’s advice to cash-strapped shoppers who are spending the highest portion of their income on food than at any point in the last 30 years. In an interview with CNBC last week, WK Kellogg CEO Pilnick

By Krystal Hur, CNN New York (CNN) — A Texas man is facing insider trading charges and jail time after he used information gleaned from eavesdropping on his wife’s work-from-home calls, netting him $1.76 million from an upcoming oil industry acquisition. The Securities and Exchange Commission on February 22 charged Houston-based Tyler Loudon after he

By Eva Rothenberg, CNN New York (CNN) — Berkshire Hathaway neared a $1 trillion market valuation Monday after a record-breaking year, but CEO Warren Buffett warned in his annual letter to investors that more skyrocketing performances are likely a thing of the past. Berkshire Hathaway (BRK.B) saw its shares jump nearly 2%, to $429, on Monday

By Nathaniel Meyersohn, CNN New York (CNN) — The Federal Trade Commission on Monday sued to block the $25 billion deal between Kroger and Albertsons, alleging the largest supermarket merger in US history would lead to higher prices, store closures and job losses. The merger, announced in 2022, sought to combine the fifth and tenth

By Jordan Valinsky, CNN New York (CNN) — Fans of Outback Steakhouse may be surprised to see their local restaurant permanently closed after the chain’s parent company abruptly shut down dozens of locations around the US. Bloomin’ Brands revealed in an earnings call Friday that it closed 41 “underperforming locations” across the brands it owns,

By Brian Fung and John Fritze, CNN Washington (CNN) — The Supreme Court on Monday appeared to have deep concerns of state laws enacted in Florida and Texas that would prohibit social media platforms from throttling certain political viewpoints. The high-stakes battle gives the nation’s highest court an enormous say in how millions of Americans

By Samantha Murphy Kelly, CNN (CNN) — When Rebecca Bistany’s 40-year-old husband Paul died suddenly of a heart attack in November 2022, she didn’t know what kind of assets he left behind for her and their infant daughter. Compounding her heartache, Paul didn’t leave a will. Bistany wanted to access key business and financial accounts

By Anna Cooban, CNN London (CNN) — Ryanair may be forced to cut flights and raise fares in the peak summer season this year because crisis-hit Boeing can’t deliver the planes it promised. Michael O’Leary, the CEO of Europe’s biggest airline by passenger numbers, said during a widely-reported press briefing Friday that air fares could

By Nectar Gan, CNN Hong Kong (CNN) — Zong Qinghou, the rags-to-riches founder of one of China’s biggest beverage makers, has died. The self-made billionaire, who was once China’s richest man, died of an illness on Sunday at the age of 79, his company Hangzhou Wahaha Group said in a brief statement, without providing further

By Samantha Delouya, CNN (CNN) — Kevin Meehan has owned his Los Angeles-based restaurant, Kali, for more than 8 years ­— but lately, he said it feels like he’s had to “roll with the punches harder than ever.” Meehan, who is also the chef at Kali, said the December holiday season was unexpectedly slower than it

By Laura He, CNN Hong Kong (CNN) — Luckin Coffee, the Chinese chain that has been rebuilding its business since a fraud scandal four years ago, has reported a commanding sales lead over rival Starbucks in the important China market. In 2023, Luckin generated total net revenue of 24.9 billion yuan ($3.5 billion), up 87% from a

By Matt Egan, CNN New York (CNN) — The co-chair of a newly formed task force fighting antisemitism at Harvard University has abruptly stepped down after barely a month at the helm. The sudden resignation by Harvard Business School professor Raffaella Sadun, disclosed Sunday evening, is a setback for the Ivy League school’s efforts to

By Brian Fung, CNN Washington (CNN) — The US Supreme Court is set to make a pivotal decision about what Americans can see on social media as it takes up two cases this week that could transform the internet as we know it. On Monday, the court will consider arguments on whether to give Texas

By Peter Valdes-Dapena, CNN (CNN) — Tesla has been slashing prices. Ford just cut the price of its Mustang Mach-E, too, plus it cut back production of its electric pickup. And General Motors is thinking about bringing back plug-in hybrids, possibly taking a step back from GM’s earlier commitment to shifting straight to pure EVs.

By Eva Rothenberg, CNN New York (CNN) — AT&T is reimbursing customers for the nearly 12-hour network outage on Thursday, the company announced in a news release. The mobile network will issue a $5 credit to “potentially impacted” AT&T Wireless customers, which it says is the “average cost of a full day of service.” “We

By Eva Rothenberg, CNN New York (CNN) — Four more private universities have agreed to settle a lawsuit which alleged they violated antitrust laws in determining financial aid amounts for admitted students, according to court documents filed Friday. Dartmouth College, and Rice, Vanderbilt and Northwestern universities agreed to pay a total of $166 million to

By Alicia Wallace, CNN Anoka, Minnesota (CNN) — In the thick of a Minnesota winter, it’s not uncommon to see dogs — especially those of the short-haired, sinewy or small variety — sporting outerwear on their neighborhood strolls or jaunts around the state’s many lakes. While the idea of canine couture may conjure images of

By Nicole Goodkind and Eva Rothenberg, CNN New York (CNN) — Famed investor Warren Buffett’s annual letter to Berkshire Hathaway shareholders Saturday paid tribute to his longtime business partner and friend Charlie Munger, who died in November. Investors have long sought wisdom from the Oracle of Omaha on markets, the economy and life in general.

By Tami Luhby and Alicia Wallace, CNN (CNN) — The pandemic’s effect on South Carolina’s economy was palpable, but the fallout on employment didn’t cut as deep or last as long as it did nationally. The Palmetto State entered 2024 from a position of strength: Key industries are booming, and the stars are aligning for

By Jamiel Lynch, CNN (CNN) — A Tennessee judge has temporarily blocked the NCAA from enforcing parts of its interim policy that would have restricted how student athletes negotiate compensation for their names, images and likeness. The ruling dealt a significant setback to the NCAA’s attempts to rein in pay for students who play sports at its