Money

By Jordan Valinsky, CNN Business Wayfair is cutting nearly 900 jobs, or about 5% of the once-hot online retailer’s global workforce, as it looks to regain its financial footing in a post-pandemic future. The company said in a regulatory filing that the cuts will help it “manage operating expenses and realign investment priorities.” Shares fell

Martha C. White for CNN Business The pandemic forced Freed Bodyworks, a wellness center offering massage therapy, yoga, acupuncture, mental health counseling and other services, to shut down for four months. But while clients returned when it reopened in the summer of 2020, workers did not. Almost two years later, owners Frances Reed and Jessica

By Jordan Valinsky, CNN Business The cord has been cut. For the first time ever, Americans are watching more streaming TV than cable, according to a report from Nielsen. The milestone has long been expected as viewers change their viewing habits and ditch their pricey cable bundles for cheaper alternatives. In July, streaming amounted to

By Parija Kavilanz, CNN Business Lab-grown diamonds have become so popular with consumers that some couples are asking jewelers to swap the natural diamond in their rings for a lab-created sparkler. “Just last week we had three or four couples who’ve been married for a few years come to us to upgrade the diamond on

By Nicole Goodkind, CNN Business San Francisco Federal Reserve president Mary Daly said Thursday morning that raising interest rates by either half or three quarters of a percentage point in September would be a “reasonable” way to bring inflation down. The hikes would follow back-to-back 75-basis point increases by the Federal Reserve, intended to tackle

By Homero De la Fuente, CNN The NCAA’s Big Ten Conference announced on Thursday it has reached a massive media rights agreement with CBS, FOX, NBC and NBCUniversal’s Peacock for a deal reportedly worth an average of at least $1 billion a year. CNN has reached out to the Big Ten Conference to confirm the

By Alexandra Peers, CNN Business On Christmas Day 2020, Netflix premiered “Bridgerton,” an old-fashioned lushly designed Regency Romance. Gorgeously costumed, multiracial, LGBTQ-friendly and featuring sizzling sex and explicit nudity, it seemed just the thing TV needed in the global Covid lockdown. The series had viewership of 82 million households worldwide within four months, according to

By Frank Pallotta, CNN Business Even after Vince McMahon, the former WWE chief executive, retired from the company amid an investigation into his hush money payments to women, news of additional payments is still coming out. The latest revelation involves former president Donald Trump. The Wall Street Journal reported Wednesday that $5 million of McMahon’s

By Matt Egan The cost of diesel has tumbled from record highs, easing inflationary pressure on everything from trucking and farming to construction. The national average for diesel dipped slightly below $5 a gallon on Thursday for the first time since March 9, according to AAA. At $4.999, diesel prices have declined 82 cents since