Money

By Hanna Ziady, CNN London (CNN) — Spotify will lay off around 1,500 employees to reduce costs in a third round of job cuts this year, CEO Daniel Ek said Monday as he announced a “significant” strategy shift for the music-streaming company. “Economic growth has slowed dramatically and capital has become more expensive. Spotify is

By Michelle Toh, CNN Hong Kong (CNN) — The US government has announced new regulations that aim to keep Chinese batteries out of cars sold in the United States, a move that could push up the price of electric vehicles for American drivers. The Biden administration on Friday proposed rules that would cut subsidies for

CNN, KOMO, KHON, ALASKA AIRLINES By Eva Rothenberg and Chris Isidore, CNN New York (CNN) — Alaska Air (ALK) on Sunday announced it will buy rival Hawaiian Airlines (HA) for $1.9 billion. The acquisition was the culmination of “several months” of negotiations, according to Alaska Airlines CEO Ben Minicucci. It will include $900 million in

By Anna Bahney, CNN Washington, DC (CNN) — Here’s how paying for a real estate agent to sell your home has long been done: A seller hands a percentage of the sale price to their broker, who then splits it with the broker who brought the buyer. The commission is typically between 5% and 6%,

By Sergio Padilla, CNN New York (CNN) — Americans seemed more willing to spend money on Black Friday and Cyber Monday, but less willing to donate money on Giving Tuesday. While the raw number of dollars donated, $3.1 billion, represents a 0.6% gain from 2022, the number of Americans who participated, roughly 34 million, indicates

By Eva Rothenberg and Chris Isidore, CNN New York (CNN) — Alaska Air (ALK) on Sunday announced it will buy rival Hawaiian Airlines (HA) for $1.9 billion. The acquisition was the culmination of “several months” of negotiations, according to Alaska Airlines CEO Ben Minicucci. It will include $900 million in Hawaiian Airlines debt. “This is

By Krystal Hur, CNN New York (CNN) — Clean energy stocks are out of vogue, as higher interest rates and lagging efforts to combat climate change dog the sector. Those obstacles might not go away anytime soon. The iShares Global Clean Energy exchange-traded fund, which tracks the performance of sectors from renewable electricity to semiconductors

By Eva Rothenberg, CNN (CNN) — Movie theaters slumped into a “Slow-vember,” say industry analysts, as several of the season’s most anticipated movies drew underwhelming box office sales last month. Domestic theaters grossed about $553.6 million this November, a 12% decline from last year and still more than $400 million short of pre-pandemic levels, according

By Parija Kavilanz, CNN New York (CNN) — With Thanksgiving out of the way, the hunt for a Christmas tree is on for plenty of families wanting to snag the perfect Fraser fir or pine for their homes this year. But spending on a real Christmas tree is yet another expense for households to add

By Jeanne Sahadi, CNN New York (CNN) — If you are in a 401(k) plan at work, you very likely have the option to invest in a so-called target date fund, which also may be called a retirement date fund or a lifecycle fund. At the end of 2020, the vast majority of plans (86%)

By Danielle Wiener-Bronner, CNN New York (CNN) — Egg and turkey prices are down. But a deadly bird flu is still threatening poultry flocks, turkey in particular. So while breakfast is likely to stay cheap, get ready for more expensive turkey sandwiches. Last year, a highly pathogenic avian influenza (HPAI) devastated chicken flocks, with egg-laying

By Jackie Wattles, CNN (CNN) — Amazon just inked a deal with chief competitor and Elon Musk-helmed SpaceX to launch internet-beaming satellites — a move that comes even as Amazon founder Jeff Bezos pursues his own space dreams with his own rocket company, Blue Origin, and as SpaceX builds its own internet constellation. While Musk

By Peter Valdes-Dapena, CNN New York (CNN) — Back In 2019, Tesla designer Franz von Holzhausen tried to show off the Cybertruck’s shatterproof windows by throwing a metal ball at each of the truck’s left side windows. The unbreakable windows… broke. “Oh my f**king God,” said Musk at that memorably awkward moment. “Well, maybe that

By Nathaniel Meyersohn, Parija Kavilanz and Samantha Murphy Kelly, CNN New York (CNN) — Walmart confirmed on Friday that it is not advertising on X, the social media platform owned by Elon Musk and formerly known as Twitter. “We are not actively advertising on X. This is not about a specific change to our advertising

By Anna Cooban, CNN London (CNN) — The world’s first cargo ship that produces nearly zero planet-heating pollution is on track to set sail in 2026, according to one of the firms behind the project. Fertilizer producer Yara International and its partners plan to power the Yara Eyde — which is yet to be built — mostly

By Bryan Mena, CNN Washington, DC (CNN) — Investors have mostly concluded that the Federal Reserve is done hiking interest rates, and are already looking toward rate cuts next year, possibly as early as in the first half of 2024. Fed Chair Jerome Powell says: Not so fast. “Having come so far so quickly, the

By Michelle Toh, CNN Hong Kong (CNN) — A US regulator has hit the China arm of prestigious “Big Four” firm PwC with a $7 million fine. The company failed to detect or prevent extensive cheating by its staff during internal training exams in mainland China and Hong Kong, the US Public Company Accounting Oversight

By Laura He, CNN Hong Kong (CNN) — Two Chinese business executives at companies controlled by the embattled financial conglomerate Zhongzhi have gone missing, according to statements by their respective firms. The development comes just days after Chinese authorities launched a criminal investigation into the troubled shadow bank, one of China’s largest. Last week, Zhongzhi told