Money

By Jordan Valinsky, CNN New York (CNN) — Peloton shares slid more than 20% Thursday after the fitness company said it expects to report another loss in the current quarter and is trimming its full-year revenue forecast, signaling that its several years-long turnaround is spinning out. CEO Barry McCarthy wrote in a letter to investors

By Anna Cooban, CNN London (CNN) — Nearly a year on from a banking crisis that led to the collapse of three US regional lenders and the emergency takeover of Credit Suisse in Europe, a fresh chill is running through banks as far apart as New York, Tokyo and Zurich. Common to all of them

By Hanna Ziady, CNN London (CNN) — Russian assets frozen in European accounts are generating billions of dollars in interest payments that could be diverted to help repair Ukraine’s war-torn economy — and the European Union just took a step closer to doing that. After Russia’s full-scale invasion of Ukraine in February 2022, Western countries

By Alicia Wallace, CNN New York (CNN) — On Friday, the Bureau of Labor Statistics will deliver the first jobs report for 2024, and it’s expected to underscore the strength of the US economy despite 11 rate hikes from the Federal Reserve. The labor market snapshot comes just days after Fed Chair Jerome Powell said

By Anna Cooban, CNN London (CNN) — Universal Music Group has pulled its music off TikTok in a dispute over royalties, a move that prevents more than 1 billion users of the platform from streaming a vast catalog of songs by Taylor Swift, Ariana Grande, Rihanna and other artists. Many TikTok videos featuring Universal artists’ music went

By Parija Kavilanz, CNN New York (CNN) — The Super Bowl is no joke for Tod Steward. He’s hosted a viewing party at his downtown Seattle condo for the past 14 years. It’s become a tradition for him and his circle of friends. Other than the game itself, it’s his steaks that get the loudest

By Jordan Valinsky, CNN New York (CNN) — Unexpected demand for Subway’s new footlong cookies has created a big cookie shortage, driving the new snack off the menu less than two weeks after its big debut. The sandwich chain announced Thursday that its new Sidekick lineup, which also consists of a Cinnabon churro and a

Analysis by Oliver Darcy, CNN New York (CNN) — Far-left woke mobs ravaging the country. Hordes of illegal immigrants invading the southern border. Gender ideology warping young minds in schools. Sinister globalists plotting in the shadows. These are the toxic themes espoused in right-wing media, delivered each day through a mix of internet pipelines and

By Diksha Madhok, CNN (CNN) — Stung by a Delaware court ruling earlier this week that struck down his record Tesla pay package, Elon Musk says he is seeking shareholder approval to incorporate the company in Texas. Soon after Tuesday’s ruling about his 2018 salary package — worth about $51 billion at current stock prices

By Hanna Ziady, CNN London (CNN) — Deutsche Bank is cutting 3,500 jobs as it pushes ahead with a plan to reduce costs by €2.5 billion ($2.7 billion) by 2025. Germany’s biggest lender said Thursday that it had made progress towards the target but still had to find savings of €1.6 billion ($1.7 billion), some

By Samantha Delouya, CNN (CNN) — Disney is banning password sharing on its streaming services, following in the footsteps of competitor Netflix. In an email to Hulu subscribers on Wednesday, the company said it would start “adding limitations on sharing your account outside of your household” beginning March 14. Hulu’s user agreement, along with the

By Elisabeth Buchwald, CNN New York (CNN) — Regional bank stocks are back in the hotseat thanks to a truly horrific financial report from New York Community Bancorp. On Wednesday, the regional lender reported a surprise loss of $252 million last quarter compared to a $172 million profit in the fourth quarter of 2022. The

CNN By Samantha Delouya, CNN (CNN) — A US judge has dismissed Disney’s lawsuit against Florida Gov. Ron DeSantis and his political allies, including the board he appointed to oversee Disney’s property in Florida. The judge’s ruling is a win for the governor’s escalating legal battle with the entertainment giant. The lawsuit, which was filed

By Oliver Darcy and Liam Reilly, CNN (CNN) — The Messenger, the upstart digital news outlet that hired hundreds of journalists and vowed to upend the industry as a centrist publication, will shut down less than a year after its high-profile launch, the company said Wednesday. The collapse of the outlet, founded by media entrepreneur Jimmy Finkelstein, marks one of

By Jeanne Sahadi, CNN New York (CNN) — Editor’s Note: This is an update of an article that ran on December 13, 2023. The Federal Reserve on Wednesday did it again. For the fourth meeting in a row, it left its key interest rate at a 23-year-high, as Fed observers and market watchers continue to

By Samantha Delouya, CNN (CNN) — A US judge has dismissed Disney’s lawsuit against Florida Gov. Ron DeSantis and his political allies, including the board he appointed to oversee Disney’s property in Florida. The judge’s ruling is a win for the governor’s escalating legal battle with the entertainment giant. The lawsuit, which was filed by

CNN By Jeanne Sahadi, CNN New York (CNN) — Editor’s Note: This is an update of an article that ran on December 13, 2023. The Federal Reserve on Wednesday did it again. For the fourth meeting in a row, it left its key interest rate at a 23-year-high, as Fed observers and market watchers continue

CNN By Clare Duffy, CNN New York (CNN) — Wednesday’s online youth safety hearing with some of the world’s leading social media CEOs was unlike the many that came before it in recent years. But it wasn’t because of anything the executives said. Instead, it was the families sitting behind them — many holding photos