Money

Abigail Disney, the granddaughter of Roy Disney, explains how the tax system enables rich people to avoid paying income taxes. She tells CNN’s Brianna Keilar that the ethos of wealth needs to be questioned.

By Jordan Valinsky, CNN Business McDonald’s will launch its first-ever nationwide loyalty program July 8. It’s aimed at expanding McDonald’s customer base and enticing existing patrons to be more loyal in the highly competitive world of fast food. The program, called MyMcDonald’s Rewards, is only available on its app and gives customers 100 points for

Steven Spielberg’s production company Amblin Partners signed a deal with Netflix to produce multiple new feature films per year. CNN’s Frank Pallotta reports.

By Frank Pallotta, CNN Business Steven Spielberg is partnering with Netflix. Getting Hollywood’s premiere director represents a major coup for the streaming service. Amblin Partners, the film and TV production studio led by the blockbuster director, announced a partnership with the streaming company Monday that will include multiple new feature films per year for the

By Julia Horowitz, CNN Business As the global recovery takes hold, governments around the world will be increasingly tempted to stop throwing so much cash at the economy. Investors could see that as a big mistake. What’s happening: President Joe Biden’s infrastructure proposal — part of $4 trillion in potential spending — is a priority

By Jordan Valinsky, CNN Business Paid time off, retirement benefits and … a Peloton membership? That could be your newest work perk as the fitness company rolls out a corporate program that offers free app memberships that normally cost $12.99 per month. Peloton Corporate Wellness is aimed at “providing employees access to innovative mental and

By Michelle Toh, CNN Business Bumble is giving its entire team a break. The dating app has shut down its offices around the world this week “as a way to thank our team for their hard work and resilience,” it said. Its staff of 700 worldwide have been granted the week of June 21 off,

By Laura He, CNN Business Bitcoin tanked again on Tuesday and fell below $30,000 for the first time since late January as China escalated its crackdown on cryptocurrencies. China further curbed mining activity and told major payments platforms and lenders that crypto trading won’t be tolerated. Bitcoin plunged 12% over the past 24 hours. The

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. New York City is about to become the largest American jurisdiction to implement ranked choice voting for an election. It’s complicated, it’s confusing, and it’s going to take a while

By Danielle Wiener-Bronner, CNN Business Smithfield Foods, one of the country’s top meat processors, has been sued by a consumer advocacy group, which alleges that Smithfield misled the public when it raised an alarm over possible meat shortages in spring 2020. Smithfield temporarily closed some of its facilities as workers got sick with Covid-19 early

By Alexis Benveniste and Fredreka Schouten, CNN The Limetree Bay oil refinery in St. Croix said it would close indefinitely, citing “severe financial constraints” a month after the Environmental Protection Agency ordered an emergency shutdown of the plant, calling it an “imminent and substantial endangerment” to public health on the island. The EPA, which has

What do Jay-Z, A-Rod, Ciara, Serena Williams, Shaq, hedge fund billionaire Bill Ackman, former house speaker Paul Ryan, and Richard Branson all have in common? One word, well, acronym: SPACs.