Money

By Danielle Wiener-Bronner, CNN Business In a scathing open letter to McDonald’s shareholders, legendary investor Carl Icahn said the company’s leadership was “failing” its investors and misleading the public about its animal welfare practices. “McDonald’s’ Board of Directors … is failing shareholders and stakeholders by presiding over animal welfare violations, supply chain lapses and what

By Oliver Darcy and Brian Stelter, CNN Business CNN+, the streaming service that was hyped as one of the most significant developments in the history of CNN, will shut down on April 30, just one month after it launched. CNN+ customers “will receive prorated refunds of subscription fees,” the company said. The decision was made

By Anna Bahney, CNN Business Mortgage rates continued to rise this week, reaching their highest level in more than a decade. The 30-year fixed-rate mortgage averaged 5.11% in the week ending April 21, up from 5% the week before, according to Freddie Mac. It is the seventh consecutive week of increases and is significantly higher

By Chris Isidore, CNN Business After two years of massive losses, US airlines are about to start reporting profits once again. Both American and United reported first-quarter losses but expect to book record revenue in the current period, just two years removed from a near halt in air travel caused by the Covid-19 pandemic. American

By Anna Cooban, CNN Business Nestlé, the world’s biggest food and drinks company, raised prices by more than 5% in the first three months of this year as it passed on rising costs to shoppers. Consumers in North America took the hardest hit, with an 8.5% rise in prices, the company said in its first-quarter

By Paul R. La Monica, CNN Business Last month, the Federal Reserve raised interest rates for the first time since December 2018. Now there are growing expectations that the central bank is about to dramatically step up the size and pace of its rate hikes in order to put a brake on surging consumer prices.

By Diksha Madhok, CNN Business Two of India’s biggest businesses are moving away from Russia, even as Prime Minister Narendra Modi refrains from taking a tough stance against Moscow over the war in Ukraine. Tata Steel, one of the largest steelmakers in India, said on Wednesday that it has “taken a conscious decision to stop

By Kashif Kakvi, Rhea Mogul and Esha Mitra, CNN Shahdullah Baig stands among the rubble of what was once his modest two-bedroom home, his belongings buried under debris and broken bricks. “In the blink of an eye, my home was demolished,” said the 45-year-old fruit seller, whose kitchen, fruit cart, and cattle shed have ​all