Money

By: Moira Ritter, CNN Business Leon Black, co-founder and former CEO of Apollo Global Management, responded Monday to a lawsuit accusing him of forcing a woman into an abusive relationship for years. He said the only thing he is guilty of is “extremely poor judgment in entering into an affair.” The original complaint, filed June

By Anneken Tappe, CNN Business The pandemic sparked recession ended in April 2020 after just two months, according to the National Bureau of Economic Research. That makes the most recent US economic downturn the shortest on record. Before the pandemic, the shortest recession was in the 1980s, lasting six months. Last year, nationwide lockdowns began

By Hanna Ziady and Lauren Gunn, CNN Business The UK government’s decision to lift almost all remaining coronavirus restrictions in England on Monday was expected to deliver a windfall for businesses that have been hampered by social distancing rules. But a growing number of companies, including supermarkets and pubs, are now facing worker shortages that

By Oliver Darcy, CNN Business The Department of Justice on Monday formally adopted policies sharply restricting the instances in which prosecutors can seek records or testimony from reporters. The agency’s new policies were outlined in a memo issued by Attorney General Merrick Garland. “This new prohibition applies to compulsory legal process issued to reporters directly,

By Brian Stelter, CNN Business CNN is hiring hundreds of people and developing dozens of programs for a subscription streaming service that will launch early next year. The new venture, called CNN+, was formally announced on Monday morning. It will exist side by side with CNN’s existing television networks and will feature eight to twelve

By Matt Egan, CNN Business Robinhood could soon be worth $35 billion. The booming yet controversial trading app said Monday it plans to raise up to $2.3 billion in an initial public offering. Robinhood, which plans to list on the Nasdaq under the ticker symbol “HOOD,” anticipates selling shares for between $38 and $42 apiece.

By Hanna Ziady and Mark Thompson, CNN Business Despite surging cases of the Delta variant of Covid-19 around the world, investors have largely been brushing off the risks, confident that vaccines will allow economic activity to return to normal. But that risk assessment may be changing. What’s happening: Futures on the S&P 500, Dow and

By Paul R. La Monica, CNN Business A security company that uses artificial intelligence and advanced sensors technology to screen for threats at theme parks, sports stadiums and other large venues, is going public. Evolv Technology, which announced plans in March to merge with blank check special purpose acquisition company NewHold Investment Corp., completed its

By Paul R. La Monica, CNN Business Investors are getting spooked by the rising numbers of Covid-19 cases as the Delta variant spreads across the globe. The Dow fell about 725 points Monday, a drop of 2.1%. The S&P 500 ended the day down 1.6% and the Nasdaq was 1.1% lower. This was the worst

By Chie Kobayashi, Gawon Bae, Chandler Thornton and Michelle Toh, CNN Business Toyota will have a subdued role at the Olympics in Japan this year, despite being one of the event’s biggest sponsors. According to a company spokesman, the automaker will not be releasing any commercials related to the Tokyo Games in Japan, choosing instead

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Scores of journalists from seventeen news outlets worked together to expose evidence of industrial-scale spying that targeted journalists, activists, politicians, and business executives. And the revelations are only just beginning.