Money

By Nathaniel Meyersohn, CNN Business Kohl’s stock surged nearly 35% in midday trading Monday following reports that at least two different buyers are looking to take the retailer private. On Friday, Kohl’s received an unsolicited $9 billion bid to go private from a consortium backed by activist investor Starboard Value LP, according to published sources.

By Paul R. La Monica, CNN Business Forget about all the boardroom intrigue on “Succession” and “Billions.” Real-life companies are facing a lot more drama than anyone on those popular shows. Struggling companies have one more reason to watch their backs. Several of them now have to contend with pesky activist shareholders — the so-called

By Peter Valdes-Dapena, CNN Business If you picture a typical Rolls-Royce owner, you probably imagine someone with white hair and maybe also white golf shoes. These are, after all, huge, cushy cars designed for comfort, just the sort of thing you’d think rich retirees would enjoy. But if you ask Rolls-Royce customers, the true purpose

By Jeanne Sahadi, CNN Business If you use payment apps like Venmo, PayPal or CashApp, the new year ushered in a change to an IRS tax reporting rule that could apply to some of your transactions. The new rule, which took effect January 1, doesn’t impose any additional taxes on payment app users. But it

By Chris Boyette, CNN A Connecticut man has been arrested and lost his job after video surfaced of him yelling at employees of a smoothie shop Saturday, where he claimed his son received a drink with peanut butter, causing a severe allergic reaction sending him to the hospital. According to Fairfield Police, James Iannazzo picked

By Reuters, Sonia Moghe and An Phung A judge on Monday delayed Sarah Palin’s defamation trial against The New York Times by 10 days to February 3, after the 2008 Republican U.S. vice presidential candidate and former Alaska governor tested positive for the coronavirus. The delay was announced by U.S. District Judge Jed Rakoff in

Opinion by Mark Zandi for CNN Business Perspectives The pandemic continues to call the shots for the economy. Each wave of the virus has done significant damage, with Omicron now hitting the economy hard. December retail sales slumped as households pulled back on spending, including travel, dining out at restaurants and attending Broadway shows. The

By Jordan Valinsky, CNN Business The knives are out for Peloton and CEO John Foley. Blackwells Capital, an activist investor that owns less than 5% of Peloton, says it has “grave concerns” about its performance and is calling on its board of directors to fire Foley immediately and explore a sale. In an open letter

By Jordan Valinsky, CNN Business Krispy Kreme is giving away free doughnuts to help combat a nationwide blood shortage. This week, the chain will give away a dozen original glazed doughnuts to people that donated blood to the American Red Cross. The promotion comes after the organization recently announced that it’s dealing with the worst

By Peter Valdes-Dapena, CNN Business Ford just unveiled the Bronco Raptor, a high-performance version of its off-road Jeep Wrangler competitor. Based on desert racing trucks, this version has more power, bigger tires and taller suspension than a standard Bronco’s for bounding across sand dunes at “highway speeds,” according to Ford. The Bronco Raptor is powered

By Greg Wallace and Pete Muntean, CNN Business Washington is suspending more than three dozen flights from Chinese carriers over the next couple of months, the latest escalation in a spat over pandemic-related travel rules between the United States and China. On Friday, the US Transportation Department said it would suspend 44 China-bound flights operated