Money

By Parija Kavilanz, CNN New York (CNN) — Abercrombie & Fitch says it has launched its own investigation into allegations originally published by the BBC that the company’s former CEO, Mike Jeffries, exploited men for sex. “We are appalled and disgusted by the behavior described in the allegations against Mr. Jeffries, whose employment with Abercrombie

By Anna Cooban, CNN London (CNN) — A slump in government bonds around the world has pushed up the cost of some nations’ debt to levels not seen in more than a decade. That’s bad news for governments in the red but also for the wallets of millions of mortgage borrowers, stock investors and businesses.

By Matt Egan New York (CNN Business) — As Donald Trump scrambles to defend his business empire in court, the former president has suffered another blow: dropping off The Forbes 400 list of the richest Americans. Trump’s net worth tumbled by 19%, or $600 million, to an estimated $2.6 billion total. That left him $300

By Allison Morrow, CNN New York (CNN) — In their opening statements to a newly sworn-in jury in Manhattan federal court on Wednesday, lawyers laid out previews of their cases, offering two divergent narratives for the collapse of Sam Bankman-Fried’s crypto empire. Assistant US Attorney Thane Rehn painted a picture of a villainous, greedy businessman

By Jordan Valinsky, CNN New York (CNN) — Wendy’s and McDonald’s have emerged victorious from a lawsuit that accused the fast food chains of false advertising. A federal judge dismissed a lawsuit brought against the two companies accusing them of selling smaller hamburgers than advertised and alleging the food didn’t look as appetizing in person

By Alicia Wallace, CNN Minneapolis (CNN) — US employers in the private sector added an estimated 89,000 jobs in September, a much lower total than expected and a potential indication of a sharp pullback in the labor market, payroll processor ADP reported Wednesday. The September tally landed well below economists’ estimates for 153,000 jobs added,

By Hanna Ziady, CNN London (CNN) — UK Prime Minister Rishi Sunak has taken the axe to Britain’s biggest current infrastructure project, ignoring warnings from business leaders that a U-turn would damage investor confidence in the country. Sunak announced plans Wednesday to curtail High Speed Rail 2, known as HS2, the government’s flagship transport project

By Holly Yan, CNN (CNN) — Your dream of buying 400 private jets or some Lamborghini Veneno Roadsters for you and 143 of your closest friends could become reality after Wednesday night’s Powerball drawing. The winning numbers are 9, 35, 54, 63, 64 and Powerball 1. The grand prize is worth an estimated $1.2 billion

By Jennifer Korn, CNN New York (CNN) — Uber is looking to help with a much-dreaded chore: returning packages. The rideshare giant unveiled a new product update Wednesday that takes some of the pain points out of the return process, allowing users to request an Uber to specifically drop off their e-commerce packages at a

By Catherine Thorbecke, CNN New York (CNN) — Today was the day for the US government’s big emergency alert drill, which sent a test message to every TV, radio and cell phone in the nation. Starting at approximately 2:20 pm ET on Wednesday, the federal government began conducting a nationwide test of its Emergency Alert

By Samantha Delouya, CNN (CNN) — On Wednesday, more than 75,000 unionized employees of Kaiser Permanente, one of the nation’s largest not-for-profit health providers, walked off the job, marking the largest health care worker strike in US history. The striking employees, who work across California, Colorado, Washington, Virginia, Oregon and Washington, DC, are represented by

By Juliana Liu and Wayne Chang, CNN Hong Kong (CNN) — Capvision, an international advisory firm whose offices in China were raided by officials, says it has successfully completed a national security inspection overseen by the Chinese government. Chinese media reported in May that state security authorities had raided multiple offices of the company, a

By Rhea Mogul, CNN (CNN) — Police in New Delhi have raided the homes of prominent journalists linked to a left-leaning news organization known for its scrutiny of the Indian government, in a move media groups called an attack on press freedoms. Forty-six people were questioned, and digital devices and documents had been seized for

By Jonathan Park, CNN (CNN) — Seven Starbucks locations across San Francisco will shut down effective October 22, the company told CNN on Tuesday. When asked why the company decided to close these stores, a Starbucks spokesperson said it was part of a larger evaluation of their store portfolio. “Each year as a standard course

By Devan Cole, CNN Washington (CNN) — A federal appeals court has expanded the scope of a ruling that limits the Biden administration’s communications with social media companies, saying it now also applies to a top US cybersecurity agency. The ruling last month from the conservative 5th Circuit US Court of Appeals severely limits the

KGO By Andy Rose, Veronica Miracle and Jeffrey Kopp, CNN (CNN) — A pedestrian in downtown San Francisco was found critically injured and trapped underneath a driverless car Monday night. But it was not the first car to strike the victim. The driverless vehicle was operated by Cruise, a San Francisco-based self-driving car company and

By Elisabeth Buchwald, CNN New York (CNN) — On Tuesday, the Supreme Court began hearing oral arguments in a case that will determine the fate of the Consumer Financial Protection Bureau. The case was brought on by the Community Financial Services Association of America, a trade group representing payday lenders. The group scored a victory

By Samantha Murphy Kelly, CNN Business (CNN) — Instagram and Facebook users in the European Union may soon be able to opt out of targeted ads if they pay for a monthly subscription. A source familiar with the matter told CNN that Meta is evaluating a range of options to comply with multiple European regulations

By Chris Isidore, CNN New York (CNN) — US new car sales soared in the third quarter, despite the combination of a strike at General Motors, Ford and Stellantis, high prices and rising interest rates. GM reported a 21% jump in sales in the quarter, compared to a year earlier. Part of the reason is

By Matt Egan, CNN New York (CNN Business) — A New York judge ruled last week that former President Donald Trump inflated the value of his Mar-a-Lago estate by an eye-popping 2,300%. That finding, part of shocking ruling that found Trump and his adult sons liable for fraud, was just one of multiple examples in