Money

By Ramishah Maruf, CNN Business Better.com CEO Vishal Garg announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar Wednesday abruptly informing the more than 900 employees on the call they were being terminated just before the holidays. “If you’re on this call, you are part of the unlucky

By Chris Isidore, CNN Business Tesla CEO Elon Musk sold a massive stake in his company over the past several weeks. And yet he owns 564,000 more shares than he did at the start of the selling spree. An analysis of his filings shows Musk is not backing away from his holdings in Tesla, despite

By Paul R. La Monica, CNN Business Smaller American companies are getting crushed in the stock market’s recent wild swings. That could be an ominous sign for the economy. The Russell 2000 index, home to companies like Crocs, BJ’s Wholesale and others with an average market valuation of about $3 billion, is now trading more

By Brian Stelter, CNN Business CNN said Saturday that anchor Chris Cuomo has been “terminated” by the network, “effective immediately.” The announcement came after an outside law firm was retained to review information about exactly how Cuomo aided his brother, former New York Gov. Andrew Cuomo, when the then-governor was accused of sexual harassment. CNN

By Ramishah Maruf, CNN Business A former Netflix software engineer and his best friend were sentenced Friday for securities fraud, the US Attorney’s Office in the Western District of Washington announced. Their roles in an insider trading ring illegally generated more than $3 million, US attorney Nick Brown said. Sung Mo Jun, 49, was sentenced

Reuters Goldman Sachs on Saturday cut its outlook for U.S. economic growth to 3.8% for 2022, citing risks and uncertainty around the emergence of the Omicron variant of the coronavirus. Goldman economist Joseph Briggs said in a note that the Omicron variant could slow economic reopening, but the firm expects “only a modest drag” on

By Parija Kavilanz, CNN Business For many couples who recently cemented their commitment to each other with an engagement, the choice of ring featured not natural but man-made gemstones — including the center diamond. While a diamond continues to be the most popular type of engagement stone, nearly one in four engagement rings in 2021

By Paul R. La Monica, CNN Business When PayPal split off from eBay a few years ago, eBay was considered to be the less exciting company. But that’s certainly not the case on Wall Street this year. Shares of eBay have surged more than 30% this year, while PayPal has stumbled more than 20%. The

By Nathaniel Meyersohn, CNN Business Few companies have gained more of an advantage during the pandemic than America’s warehouse club giants. During the early days of Covid, shoppers flooded into Costco, BJ’s and Sam’s Club — which were deemed “essential” businesses and stayed open through lockdowns — to load up on groceries and household staples

By Matt Egan, CNN Business President Joe Biden has already launched the biggest intervention into energy markets in a decade. Big Oil is nervous he’s not nearly done yet. For weeks, Democrats have been calling for Biden to go even further than releasing strategic oil reserves by banning US oil companies from shipping oil overseas.

By Peter Valdes-Dapena, CNN Business As Elon Musk wrapped up his presentation of the Tesla Cybertruck back in November 2019, he had one more thing he still wanted to show off. “Oh, yeah. We also made an ATV,” he said, as if he had nearly forgotten about it. A rider came out in an electric