Money

By Chris Isidore and Nathaniel Meyersohn, CNN New York (CNN) — Shares of Macy’s soared more than 17% early Monday on a Wall Street Journal report that the iconic 165-year old retailer closely associated with the holiday season might itself be bought. The report said the offer, which would pay shareholders a 32% premium above

By Samantha Murphy Kelly, CNN (CNN) — At a demo hall inside Apple’s headquarters after he unveiled the Vision Pro mixed reality headset in June, CEO Tim Cook smiled for pictures as he stood near the company’s newest product, taking one of 2023’s biggest risks. Apple kept the Vision Pro mostly out of onlookers’ hands

By Eva Rothenberg, CNN New York (CNN) — The Executive Committee of Harvard University’s Alumni Association on Monday announced their unreserved support for President Claudine Gay. The group’s backing comes as the Harvard Corporation, one of the governing bodies running the university, is expected to announce a decision on the fate of Gay on Tuesday,

By Laura He, CNN Hong Kong (CNN) — While many central banks around the world are still trying to cool inflation, China is grappling with falling prices. The Consumer Price Index (CPI) dropped 0.5% in November on an annual basis, the biggest fall since the depths of the pandemic three years ago, according to data

By Sergio Padilla, CNN New York (CNN) — Spotify made a name for itself in the audio-streaming business through its hyper-personalized user experience, thanks to artificial intelligence and a team of 9,800 staffers at the end of 2022. But after three rounds of layoffs in one year: 590 positions in January, 200 in June, and another 1,500 this week, Spotify’s investments

By Eva Rothenberg, CNN New York (CNN) — Now that Liz Magill has stepped down as president of the University of Pennsylvania, the spotlight has turned to her counterpart from Harvard University, Claudine Gay. “One down. Two to go,” Republican Rep. Elise Stefanik of New York wrote on X, formerly known as Twitter, with the

By David Goldman, CNN New York (CNN) — When Liz Magill was hired to be the 27th leader of the nearly 300-year-old University of Pennsylvania 20 months ago, she was academic royalty. On Saturday, she resigned in disgrace. Born into a family of lawyers and judges, Magill had spent decades rising to the top ranks

By Tami Luhby, CNN (CNN) — CVS Pharmacy is promising to make its drug pricing system simpler and more transparent. But that may not translate into lower costs or more clarity for consumers. The company announced Tuesday that its new CVS CostVantage model will revamp how its pharmacies are paid for prescription medications. It will

By Bryan Mena, CNN Washington, DC (CNN) — Investors are feeling bullish that the Federal Reserve will begin to cut interest rates in the first half of next year, despite Fed Chair Jerome Powell and other officials saying they’re not considering rate cuts just yet. Still, some think rate cuts could come as early as

By Eva Rothenberg, CNN New York (CNN) — After facing mounting pressure for months, University of Pennsylvania President Liz Magill announced that she was stepping down on Saturday. But her resignation alone won’t combat rising incidents of antisemitism at some of the nation’s most prestigious universities. Fears over antisemitism have reached new heights over the

By Samantha Delouya, CNN Los Angeles (CNN) — To the casual shopper, Sears, one of America’s oldest retailers, may appear to be on life support. The department store chain that once reinvented how Americans shopped now barely has a brick-and-mortar footprint after a 2018 bankruptcy and hundreds of store closures. But talk of Sears’ demise may

CNN By Eva Rothenberg, CNN New York (CNN) — Now that Liz Magill has stepped down as president of the University of Pennsylvania, the spotlight has turned to her counterpart from Harvard University, Claudine Gay. “One down. Two to go,” Republican Rep. Elise Stefanik of New York wrote on X, formerly known as Twitter, with

By Skylar Harris and Eva Rothenberg, CNN New York (CNN) — New York Governor Kathy Hochul on Saturday warned state colleges and universities of “aggressive enforcement action” if discrimination laws are violated, as pressure mounts on schools across the country to deal with antisemitism on campus in the wake of the Israel-Hamas war. Hochul’s letter

By Matt Egan, CNN New York (CNN) — In a stunning downfall for the leader of one of the world’s most prestigious universities, Liz Magill, the president of University of Pennsylvania, voluntarily stepped down from the helm of the Ivy League school on Saturday following a torrent of criticism for her testimony about antisemitism on

By Clare Duffy, CNN New York (CNN) — Elon Musk said the account of right-wing extremist Alex Jones would be reinstated on X, formerly known as Twitter, reversing a 2018 decision by the company’s previous management to deplatform the notorious conspiracy theorist after he repeatedly broke rules prohibiting harassment and hate. On Saturday morning, Musk

By Eva Rothenberg, CNN New York (CNN) — SmileDirectClub, the international direct-to-consumer dentistry and orthodonistry company that sold teeth aligners, has shut down less than three months after filing for Chapter 11 bankruptcy. The telehealth company, founded in 2014, said in a statement posted on its website Friday that it “has made the incredibly difficult

By Parija Kavilanz, CNN New York (CNN) — Deodorant, detergent, granola bars, cookies, underwear. Shop for any of these every day items and you’ll scan not one but at least two, sometimes three different prices crammed underneath them on the store shelf. Typically, one price label will say “Unit price.” That will be next to

By Danielle Wiener-Bronner, CNN New York (CNN) — McDonald’s announced on Wednesday that it is piloting a new cafe concept called CosMc’s, which will mostly sell indulgent, highly customizable caffeinated beverages with some food. The first CosMc’s location is now open in Illinois, and nine more are planned in Texas in the coming months. For

WLS, MCDONALD’S, CNN By Danielle Wiener-Bronner, CNN New York (CNN) — McDonald’s announced on Wednesday that it is piloting a new cafe concept called CosMc’s, which will mostly sell indulgent, highly customizable caffeinated beverages with some food. The first CosMc’s location is now open in Illinois, and nine more are planned in Texas in the

By Elisabeth Buchwald, CNN New York (CNN) — In good economic times and bad, people’s self-control to spend within their means on gifts during the holiday season flies out the window. For decades, credit cards bore the brunt of compulsive holiday spending habits. But increasingly, they’re sharing the spotlight with Buy Now, Pay Later companies.