Money

By John Towfighi, CNN (CNN) — $15.8 million every 60 seconds. That’s how much US consumers spent in two hours on Monday night, capping off a five-day spending spree that smashed previous records. US consumers spent a total of $13.3 billion on Cyber Monday, up 7.3% from the previous year, according to Adobe Analytics. Concerns

By Chris Isidore, CNN New York (CNN) — Elon Musk isn’t getting the $101 billion windfall he so desperately wanted. But he’s still among the richest people on the planet and poised to get much richer in the coming years. Delaware Chancery Court Chancellor Kathaleen McCormick again threw out a 2018 pay package from Tesla

By Matt Egan, CNN New York (CNN) — The owner of “woke-free” online marketplace PublicSquare exploded in value on Tuesday on news that Donald Trump Jr. is joining the tiny company’s board of directors. Michael Seifert, the founder and CEO of PublicSquare’s parent company, PSQ Holdings, confirmed the arrival of Trump Jr. on the board

By Brian Stelter, CNN New York (CNN) — What’s a media outlet supposed to do when its longtime host is picked to run the Pentagon, and then a series of eyebrow-raising news stories trigger doubts about his appointment? If you’re Fox News, evidently, you just pretend the stories don’t exist. Fox News, which employed Pete

By Jordan Valinsky, CNN New York (CNN) — Your next visit to a Pizza Hut might remind you of Chipotle. The chain on Tuesday unveiled a new design concept that features a pizza-making station at the center of the restaurant, allowing customers to see employees make their orders. It’s part of broader changes Pizza Hut

By John Towfighi, CNN (CNN) — Searching for something? From queries about US politics to cricket in India, Wikipedia has become a source of information for millions of people across the globe. The Wikimedia Foundation, the nonprofit that operates the site, released on Tuesday its annual list of the most-visited Wikipedia pages, showcasing what people

By Matt Egan, CNN New York (CNN) — President-elect Donald Trump has promised to expel millions of undocumented people as part of the biggest deportation program in American history. But Wall Street doesn’t believe the looming immigration crackdown will live up to Trump’s campaign trail hype. Although investors expect immigration will slow significantly during Trump’s

By Juliana Liu, CNN (CNN) — President-elect Donald Trump has again indicated that he intends to block a Japanese firm’s $15 billion takeover bid of US Steel upon taking office, saying the former American giant can eventually stand on its own. “Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong

By Juliana Liu and Sean Lyngaas, CNN Hong Kong/Washington (CNN) — The Chinese government has slammed America’s introduction of fresh export controls on US-made semiconductors that Washington fears Beijing could use to make the next generation of weapons and artificial intelligence (AI) systems. The new measures, unveiled by the outgoing Biden administration, have raised the

By Samantha Delouya, CNN (CNN) — Elon Musk’s record-breaking pay package for serving as Tesla’s CEO was rejected by a Delaware court, despite being approved by Tesla shareholders at a June meeting. The pay package, now worth around $101 billion based on Tesla’s closing share price Monday, is made up of 303 million Tesla stock

By Ramishah Maruf, CNN New York (CNN) — Cargill, the megasized Minnesota-based food production giant, is laying off about 5% of its global workforce as food commodity prices drop. Cargill is America’s largest privately held company, according to Forbes, and is also the world’s largest agricultural commodities trader. In a statement to CNN on Monday,

By Allison Morrow, CNN New York (CNN) — It’s the comeback story no one asked for — the resurrection of a brand so toxic it remains synonymous with corporate fraud more than two decades after it collapsed in bankruptcy. That’s right, folks: Enron is back. But only kind of. TL;DR: A company that makes T-shirts

By Anna Cooban, CNN London (CNN) — Sex workers in Belgium are now entitled to formal employment contracts, which include sick pay and maternity leave, under a landmark law that went into effect Sunday. Under the law, which Belgian lawmakers passed in May, sex workers signing such a contract also become entitled to a raft

By Clare Duffy and David Goldman, CNN (CNN) — Intel Monday announced CEO Pat Gelsinger has resigned after a difficult stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed by most of its rivals. Gelsinger took over as Intel’s chief executive in February 2021, returning to

By Jordan Valinsky, CNN New York (CNN) — Stoli Group USA, the owner of the namesake vodka, has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack that has snarled its operations and several years of fighting Russia in court. The company in its bankruptcy filing said it

By Elisabeth Buchwald, CNN New York (CNN) — During this busy holiday shopping season, some bargain hunters may be wondering if this is the ideal time to stock up on items before they could cost a lot more. That’s because there are only months left before President-elect Donald Trump gets back in the White House,

By Juliana Liu, CNN (CNN) — A major Australian restaurant group known for its pubs has backtracked on plans to ban celebrations during the country’s national day following public criticism and calls for a boycott, in yet another sign of how controversial the anniversary has become. Debate continues to swirl over whether to commemorate January

By Auzinea Bacon, CNN (CNN) — Instead of lounging on the couch after Thanksgiving, Americans headed to movie theaters, as the premiere of Disney’s “Moana 2” and the draw of “Wicked” and “Gladiator II” provided a big boost to the domestic box office. The three blockbusters led the five-day opening weekend record to soar past

By Chris Isidore and Auzinea Bacon, CNN New York (CNN) — Stellantis, the maker of Chrysler, Jeep, Fiat and Peugeot among other brands, announced Sunday that embattled CEO Carlos Tavares has resigned due to differences with the board and in the face of disappointing sales and calls for his ouster. The departure follows a steep