Money

By David Goldman, CNN Business Wells Fargo has decided to allow some customers to keep their personal lines of credit, partially reversing a controversial decision after a month of outrage from consumers and advocates. The bank last month decided to shut down all of its existing personal lines of credit, which Wells Fargo noted could

By Jordan Valinsky, CNN Business Chipotle is testing plant-based chorizo in Denver and Indianapolis — its first new protein made from alternative ingredients in seven years. The company developed its chorizo alternative internally, shunning Beyond Meat and Impossible, which have recently struck deals with other fast food-chains for meat alternatives on their menus. Chipotle currently

By Jordan Valinsky, CNN Business Toys “R” Us is getting another lease on life thanks to Macy’s. The two companies are partnering to sell toys on Macy’s website. The brands are also opening Toys “R” Us shop-in-shops at 400 department stores next year. It’s the second attempt to revitalize the Toys “R” Us brand within

By Jeanne Sahadi, CNN Business As if the pandemic hasn’t been hard enough on retirees, those living on low to moderate incomes have been hit with the one-two financial punch of rising inflation and low interest rates. Those senior citizens found themselves paying more for essentials, while earning next to nothing on their savings and

By Diksha Madhok, CNN Business Hong Kong has some of the toughest Covid-19 quarantine rules on the planet, capturing everyone from journalists to Olympic athletes. Not Hollywood actress Nicole Kidman, however. On Thursday, Hong Kong confirmed that the Oscar winner was granted a special exemption from the quarantine rules. Four members of her crew have

By Hanna Ziady, CNN Business Goldman Sachs is buying a Dutch investment firm for €1.6 billion ($1.9 billion) in a bid to grow its asset management business and boost the bank’s prospects outside the United States. The US investment bank revealed Thursday that it has agreed to buy NN Investment Partners, which has $355 billion

By Anneken Tappe, CNN Business Wall Street is fighting its Federal Reserve hangover and the Dow booked its third straight day of losses after the central bank suggested Wednesday it could ease off the stimulus gas as early as year-end. So the investor angst continues, sending CNN’s Fear & Greed index back into “extreme fear”

By Julia Horowitz, CNN Business After notching a string of record highs, US stocks are stuttering. What’s happening: The Dow and S&P 500 both closed 1.1% lower on Wednesday after minutes from the most recent meeting of the Federal Reserve indicated that the central bank could announce plans to cut back on bond purchases in

By Clare Duffy, CNN Business Extradition hearings for Huawei CFO Meng Wanzhou have concluded more than two years after she was arrested in Vancouver, Canada. But the case isn’t over yet. Meng now awaits the decision of Canadian Associate Chief Justice Heather Holmes as to whether she should be extradited to stand trial in the

By Danielle Wiener-Bronner, CNN Business A group of restaurant owners and five small businesses are suing New York City Mayor Bill de Blasio and the city over its vaccine mandate in the hopes of blocking the new requirement. Earlier this month, the city announced a new rule requiring people to show proof of vaccination against

By Oliver Darcy, CNN Business The right-wing channel Fox News, whose top personalities have for months assailed the concept of vaccine passports and argued that asking about vaccine status amounts to a major intrusion of privacy, told employees this week that they must disclose their vaccination status to the company. In a Tuesday memo updating

By Paul R. La Monica, CNN Business Robinhood posted a big loss in its first earnings report since its volatile initial public offering last month, overshadowing the fact that sales more than doubled in the second quarter, led by strong demand for cyptocurrency trading. The company reported revenue of $565 million in the quarter. Analysts

By Frank Pallotta, CNN Business Millions of guests visit Disney theme parks each year, and most of them probably loathe waiting 90 minutes to ride “Peter Pan’s Flight.” So now Disney is rolling out a new service that will help park goers streamline their visits and cut down on wait times. “Genie” — which debuts