Money

By Jordan Valinsky, CNN New York (CNN) — Southwest Airlines is bracing itself for a fine from the US government for last year’s operational meltdown over Christmas that canceled 16,700 flights and left two million passengers stranded. The carrier said that it “could be subject to fines and/or penalties resulting from investigations by the Department

By Matt Egan, CNN New York (CNN) — At a moment of elevated geopolitical danger, Treasury Secretary Janet Yellen plans to deliver a major speech on Thursday mapping out the Biden administration’s economic gameplan toward the increasingly volatile Indo-Pacific region, CNN has learned. The speech will mark the first time the Biden administration has outlined

By Jordan Valinsky, CNN New York (CNN) — Former NBA star and investor Magic Johnson is officially a billionaire, becoming the fourth athlete to earn that title, according to Forbes. Johnson, 64, is worth about $1.2 billion, the publication calculated, with most of his wealth stemming from his majority ownership of EquiTrust insurance company. It’s

By Danielle Wiener-Bronner, CNN New York (CNN) — Love it or hate it, candy corn season is upon us. Everyone has an opinion on candy corn: Some love the treat, either as a sugary indulgence or a marker of the fall season. Others wonder why you would waste your time on candy corn, which they

By Anna Cooban, CNN London (CNN) — Oil prices fell again Monday as concerns about the health of the global economy outweighed fears that Israel’s move on the weekend to expand its military operations in Gaza could lead to a regional conflict. Brent crude, the global oil benchmark, fell 1.6% to $89 a barrel, and

CNN By Anna Cooban, CNN London (CNN) — Oil prices fell again Monday as concerns about the health of the global economy outweighed fears that Israel’s move on the weekend to expand its military operations in Gaza could lead to a regional conflict. Brent crude, the global oil benchmark, fell 1.6% to $89 a barrel,

By Hanna Ziady, CNN London (CNN) — Output in Germany fell slightly in the third quarter, official data showed Monday, increasing the risk of a recession in Europe’s biggest economy. Gross domestic product dropped 0.1% in the July-to-September period compared with the previous quarter, when it grew 0.1%, according to Germany’s Federal Statistical Office (Destatis).

By Michelle Toh, CNN Hong Kong (CNN) — HSBC warned Monday that China’s property market has “potential for a further deterioration” as it reported profits that fell short of expectations, partly because of a $500 million charge to cover potential losses on commercial real estate loans. Third quarter pre-tax profit at Europe’s biggest bank more

By Samantha Murphy Kelly, CNN (CNN) — Apple is set to host its second product event of the season, a month after introducing its new iPhone 15 lineup. The event, which is online-only, will kick off on Monday at 8:00 p.m. ET/5:00 p.m. PT, an unusually late start-time for Apple keynotes. Some analysts said the

By Elisabeth Buchwald, CNN New York (CNN) — If you want to aggravate the US bond market, just remind traders how high the nation’s budget deficit is. The latest tally from the Treasury Department for the fiscal year that ended September 30 put the deficit at $1.7 trillion. But it’s effectively even higher — around

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — The United Auto Workers union came to a tenative agreement with Stellantis Saturday. But it expanded the strike against General Motors, America’s largest automaker and the last remaining Big Three holdout, dashing hopes it was close to ending the last remaining auto strike. The

By Nathaniel Meyersohn, CNN New York (CNN) — A small slice of pavement is sparking a turf war in US cities. You probably don’t think much about street curbs. But they are some of cities’ most valuable and busy real estate. There are a slew of users and uses that compete for curb space. Pedestrians

By Eva Rothenberg, CNN New York (CNN) — Dozens of men have filed a class action lawsuit alleging Abercrombie & Fitch was complicit in a decade-long sex trafficking scheme carried out by the fashion company’s former CEO. According to the complaint filed Friday in federal court in New York, Michael Jeffries, who ran the company between

By Allison Morrow and Lucy Bayly, CNN New York (CNN) — Former crypto billionaire Sam Bankman-Fried took the stand in front of a judge and jury last week in his criminal fraud trial. If convicted on all seven fraud counts he faces, the 31-year-old could spend the rest of his life in prison. Prosecutors claim

By Danielle Wiener-Bronner, CNN New York (CNN) — Last year, customers did their Halloween shopping early. But this year, they’re taking their time. That means that this weekend, Hershey — which makes Reese’s, Kit Kat (in the US), Twizzlers and more — is counting on shoppers to load up on candy so it can meet its

By Clare Duffy, Gabrielle Smith and Brian Fung, CNN New York (CNN) — You’d be forgiven for failing to remember every twist and turn — every controversial post, weird office update, legal threat and policy rollout (and, sometimes, rollback) — that took place during Elon Musk’s first year owning Twitter. Since Musk closed his $44

By Brian Fung, CNN Washington, DC (CNN) — A federal judge in California hinted Friday that Google, Meta, Snap and TikTok could very likely have to face allegations by consumers that the social media companies harmed young Americans’ mental health with addictive features built into their respective platforms — and that Big Tech’s signature liability

By Krystal Hur, CNN New York (CNN) — The benchmark S&P 500 index closed in correction territory on Friday, ending a week made volatile by weaker-than-expected earnings reports and strong economic data. The S&P 500 fell 0.5%, marking a more than 10% drop from its most recent July peak. The Dow tumbled 367 points, or

By Eva Rothenberg, CNN New York (CNN) — Best Buy is recalling nearly a million pressure cookers because they pose burn risks. About 930,000 Insignia Multi-Function pressure cookers sold between October 2017 and June 2023 have inaccurate volume markings, meaning that some users may fill them beyond their intended capacity, the US Consumer Product Safety

By Nathaniel Meyersohn, CNN New York (CNN) — Retailers say theft is exploding, and some data from retailers along with numerous videos of violent store robberies and looting seem to support the claim. But some retail analysts and researchers, bolstered by local crime statistics, say stores may be over-stating the extent and impact of theft. Why? It’s