Money

By Michelle Toh and CNN’s Beijing bureau, CNN Business Evergrande is once again warning that it could default on its huge debts as it struggles to cut costs or find anyone to buy some of its assets. The embattled Chinese property giant has already warned in recent weeks of its cash crisis, listing $300 billion

By Diksha Madhok, CNN Business Intuit is buying email newsletter platform Mailchimp for about $12 billion in its biggest deal ever. The maker of tax return product TurboTax and other financial software announced the cash-and-stock deal Monday, saying that it hopes Mailchimp will help it “become the center of small business growth.” As part of

By Matt Egan, CNN Business Whirlpool is offering to pay workers $1,000 to get vaccinated against Covid-19. The new vaccine incentive, confirmed by Whirlpool to CNN, underscores how Corporate America is trying to win over vaccine-hesitant workers. The vaccine bonus comes as the Biden administration prepares an emergency rule that will require large companies, like

By Kerry Flynn, CNN Business TMZ is now part of Fox Entertainment, the companies announced Monday. The news and entertainment brand, best known for breaking news on celebrity gossip and deaths, was previously owned by WarnerMedia, which also owns CNN. But WarnerMedia’s parent company AT&T has been shedding assets to help pay down its debt

By Julia Horowitz, CNN Business Andrew Neil has stepped down as chairman of GB News, just three months after the channel launched in the United Kingdom with a pledge to take on “woke warriors.” Neil, a former BBC journalist with more than four decades of experience, will also abandon his prime time show, though he’ll

By Alexis Benveniste, CNN Business An Indian electric scooter startup says its newest factory will be run entirely by women. Ola Electric’s “FutureFactory,” in Tamil Nadu, India, will eventually employ 10,000 women, the company’s co-founder Bhavish Aggarwal said in a blog post Monday. The first group of women started working at the factory this week,

By Nathaniel Meyersohn, CNN Business Employers are gearing up for the annual holiday shopping rush and once again looking to add seasonal workers to bolster their store, warehouse and logistics ranks. Their announcements come as big chains are expecting strong holiday demand from shoppers, despite risks that the Delta variant may pose to consumer spending.

By Nathaniel Meyersohn, CNN Business In what appears to be a massively successful pump and dump scheme, cryptocurrency litecoin surged around 25% early Monday after a falsified news release said Walmart would begin accepting the payment for online purchases. Investors had plenty of reason to believe the news was true: A verified litecoin Twitter account

By Hanna Ziady, CNN Business Emma Raducanu’s US Open victory netted the 18-year old Brit $2.5 million in prize money. She’s about to make much more from sponsorship deals. “I think Emma will earn well over $100 million [in the next calendar year]. She’ll eclipse all the men,” said Jonathan Shalit, the chairman of InterTalent

Opinion by Matthew F. Ferraro for CNN Business Perspectives The September 11 attacks demonstrated, with horrifying clarity, the outsize power individuals have to wreak havoc on an open society. Since that awful day, the spread of technology and our solidifying interconnectedness have increasingly placed the capacity for disruption and harm in the hands of not

By Matt Egan, CNN Business Eric Adams, the Democratic nominee for mayor of New York, pledged Monday to welcome businesses to the Big Apple by focusing on gun violence, gangs and the homeless. “New York will no longer be anti-business,” Adams said while addressing a Wall Street crowd of investors and financial executives in Manhattan.

By Julia Horowitz, CNN Business After notching heady gains this year, US stocks could be in for a back-to-school reality check. What’s happening: The S&P 500 has been in the red for five consecutive trading sessions, its longest losing streak since February. Declines have been modest. But uncertainty about the state of the market rally

By Laura He, CNN Business Shares in Alibaba slumped again on Monday after the Financial Times reported that Beijing is planning to break up Alipay, the hugely popular payment app owned by its financial affiliate, Ant Group. But that wasn’t the only piece of news that led to the stock’s decline. Investors are also concerned

By Laura He, CNN Business A typhoon that swept its way through East Asia is now forcing two of the world’s busiest ports in China to suspend some operations. The Shanghai International Port Group said in a statement that several terminals at the Shanghai Port — the world’s busiest port by cargo volume — either