Money

By Alicia Wallace, CNN New York (CNN) — High commercial real estate vacancies are expected to create some stress for smaller banks, Treasury Secretary Janet Yellen said Thursday. However, she said she does not see them as causing a systemic risk to the nation’s financial system. Appearing on the Hill as part of annual testimony

By Alicia Wallace and Tami Luhby, CNN (CNN) — When the deadly coronavirus become a global pandemic in March 2020, indoor public spaces were shuttered and stay-at-home orders were issued to ensure health and safety. In a flash, Nevada saw its leisure and hospitality lifeblood quickly cut off. In Las Vegas, the cacophony of voices,

By Nathaniel Meyersohn, CNN New York (CNN) — Cutting in front of someone who’s been waiting patiently in line used to be unethical, bad manners, taboo. Now, businesses are letting people pay for the privilege of skipping the line. Across everything from ski lifts to dating apps, and fueled by relatively new technology, there’s been

By Juliana Liu, CNN Hong Kong (CNN) — Shares in Alibaba sank as much as 7% in Hong Kong on Thursday, after the Chinese tech giant reported disappointing sales figures and announced it would suspend listings plans for two of its units. Chairman Joseph Tsai said during an earnings call that “given the challenging market

By Laura He, CNN Hong Kong (CNN) — China’s consumer prices slid deeper into deflationary territory last month, suffering their biggest drop since the height of the global financial crisis in 2009 and underscoring the huge challenges facing the economy. The country’s Consumer Price Index (CPI) dropped by 0.8% in January from a year ago,

By Matt Egan, CNN (CNN) — The University of Pennsylvania submitted documents Wednesday evening to the Congressional committee investigating antisemitism on campus, beginning what could be a weekslong process of turning over documents. Nick Barley, a spokesperson for the House Committee on Education and the Workforce, confirmed to CNN the committee received documents from UPenn and

CNN By Allison Morrow, CNN New York (CNN) — Corporate America may be bumping up against the limit of its power to keep raising prices as consumers in some markets cry uncle. At McDonald’s, which has repeatedly boasted about its ability to raise menu prices without denting sales, executives are finally acknowledging that customers need

By Ramishah Maruf, CNN New York (CNN) — Taylor Swift’s record-breaking Eras tour movie will stream exclusively on Disney+ starting on March 15, Disney announced Wednesday. “Taylor Swift | The Eras Tour (Taylor’s Version)” is a concert film for the show in its entirety. Disney said the stream will include four additional acoustic songs and

By Jon Passantino, CNN (CNN) — Fox News host Sean Hannity on Tuesday night was interviewing the founder of a New York City-based vigilante group known for its targeting of migrants when a disturbance suddenly broke out behind the live shot. As the camera panned around at Times Square, a group of men in red

By Samantha Delouya, CNN (CNN) — Disney has had a rough time even after CEO Bob Iger returned from a brief retirement. But the media veteran said on Wednesday that Disney is finally on the path toward success again. The company surprised investors by announcing it would grow earnings per share by a whopping 20%

By Matt Egan, CNN (CNN) — Turn over a trove of documents about antisemitism on campus or face a subpoena. That’s the final warning Rep. Virginia Foxx, the Republican chairwoman of the House Education and Workforce Committee, delivered to Harvard University on Wednesday as the panel seeks to advance its investigation into antisemitism on college

By Parija Kavilanz, CNN New York (CNN) — State regulators hit CVS with a $250,000 fine against one of its stores in Canton, Ohio, after investigators found that the pharmacy had been understaffed, posing a risk to the well-being of patients seeking medication in a timely manner. The move from the State of Ohio Board of

By Elisabeth Buchwald, CNN New York (CNN) — For the past two decades, the United States imported more goods from China than all other nations. That’s no longer the case. Mexico is now the top exporter of goods into the US, according to new trade data released by the Commerce Department on Wednesday. Mexico sent

By Hanna Ziady, CNN London (CNN) — Deutsche Pfandbriefbank, or PBB, a German lender focused on real estate, has set aside more money for bad debts as it braces for what it says is the worst decline in commercial property values in 15 years. PBB increased its provisions for losses on loans in the fourth

By Nicole Goodkind and Elisabeth Buchwald, CNN New York (CNN) — Troubled regional lender New York Community Bancorp attempted to reassure investors Wednesday that it has enough cash to stay afloat after the stock shed about 60% of its value over the past eight days and Moody’s Investors Service downgraded the bank’s credit grade to

By Chris Isidore, CNN New York (CNN) — Jennifer Homendy, chair of the National Transportation Safety Board, says that the problem that resulted in a door plug blowing out of a Boeing 737 Max 9 jet minutes into a January 5 flight could happen again. “Of course, something like this can happen again,” she told

CNN, NTSB, FAA By Chris Isidore, CNN New York (CNN) — Jennifer Homendy, chair of the National Transportation Safety Board, says that the problem that resulted in a door plug blowing out of a Boeing 737 Max 9 jet minutes into a January 5 flight could happen again. “Of course, something like this can happen

By Jordan Valinsky, CNN New York (CNN) — Taco Bell, KFC and Pizza Hut’s parent company is facing the same problem as its rivals: Fast food is getting too expensive and consumers are pushing back. Yum Brands, which owns all three chains, reported Wednesday weaker-than-expected sales in the fourth quarter. Despite the miss, shares rebounded

By Samantha Delouya, CNN (CNN) — After a recent trip with her husband and two children to Walt Disney World Resort in Orlando, Florida, Gina Lee said it felt like she had lost “all concept of money and time.” “It has gotten more expensive. It’s crazy,” said the New York-based content creator. “I feel like

By Laura He and Wayne Chang, CNN Hong Kong (CNN) — China has replaced the head of its securities regulator, as public anger over the meltdown in the stock market grows. Wu Qing, a banking veteran and most recently the deputy party secretary of Shanghai, was named as chairman and party secretary of the China