Money

By Jordan Valinsky, CNN New York (CNN) — Starbucks’ new CEO Brian Niccol has a Herculean task in front of him to change the dire state of affairs that the world’s largest coffee chain is currently brewing in. Surprising Wall Street, the company unexpectedly released its preliminary earnings report Tuesday evening, revealing sales fell –

By Chris Isidore, CNN New York (CNN) — Boeing reported huge quarterly losses Wednesday, as new CEO Kelly Ortberg conceded “it will take time to return Boeing to its former legacy.” “Going forward, we will be focused on fundamentally changing the culture, stabilizing the business, and improving program execution,” Ortberg said in the company’s quarterly

By Pete Muntean, CNN (CNN) — The federal government is slapping American Airlines with a $50 million fine after a multi-agency investigation uncovered repeat violations of the rules designed to protect airline passengers who use wheelchairs. The investigation by the Department of Transportation aided by the Justice Department’s civil rights division found that American made

By Ramishah Maruf, CNN New York (CNN) — An influx of Yelp reviews – many of them bogus – of a Pennsylvania McDonald’s that former President Donald Trump visited Sunday, led the review platform to temporarily freeze the franchise’s Yelp page. Many of the recent latest reviews were ruthless. Some called out Trump for his

By Maria Aguilar Prieto, CNN (CNN) — Walmart, already partially responsible for the slow demise of America’s drug stores, is launching yet another CVS killer: 30-minute prescription delivery. Walmart’s pitch to costumers is simple – fill your prescription, plus get some groceries delivered to your door, all in one order. Prescription delivery was the number

By Pete Muntean, CNN (CNN) — The Federal Aviation Administration has published new rules that it calls “the final piece of the puzzle” toward allowing half-helicopter, half-airplane, electric “air taxis” to start whizzing through the skies. On Tuesday, the FAA published 880 pages of special regulations that spell out how pilots will learn the new

By Jordan Valinsky, CNN New York (CNN) — Denny’s is closing 150 restaurants over the next year, and the 71-year-old diner chain is mulling a major change to its 24/7 operating hours. Fifty locations are set to close by the end of 2024, while the remaining 100 will shutter in 2025, Denny’s announced in an

By Brynn Gingras, Kara Scannell, Laura Dolan and John Towfighi, CNN New York (CNN) — Mike Jeffries, the former CEO of Abercrombie & Fitch, has been indicted on 16 federal counts of sex trafficking and international prostitution in New York, and is accused of leveraging “a network of employees, contractors and security professionals” while he led

By Hanna Ziady, CNN London (CNN) — High inflation has mostly been defeated around the world, the International Monetary Fund said Tuesday, providing a surprisingly upbeat assessment on prices after warning only three months ago that progress on reducing inflation had stalled. “It looks like the global battle against inflation has largely been won, even

By Brian Stelter, CNN New York (CNN) — Broadcast television licensing is not ordinarily a hot topic during a presidential election. But Donald Trump’s threats are not ordinary, either. In the past two years, Trump has called for every major American TV news network to be punished, according to a CNN review of his speeches

By Jordan Valinsky, CNN New York (CNN) — Target is slashing prices on more than 2,000 items, marking the second time this year that the retailer cut customer costs as it attempts to attract inflation-weary shoppers ahead of the holiday shopping season. Some prices have dropped effective immediately on a number of items, including home

By Chris Isidore, CNN New York (CNN) — General Motors reported much stronger than expected third-quarter earnings and gave an outlook that puts it on the path for record earnings in 2024 – just a year after a costly strike by members of the United Auto Workers union. The company reported it earned an adjusted

By Matt Egan, CNN New York (CNN) — The last time Congress voted to increase the federal minimum wage, Lehman Brothers and Bear Stearns both still existed, Patrick Mahomes was just 11 years old and Kamala Harris was San Francisco’s district attorney. That minimum wage hike in July 2007 lifted the pay floor in the

By Liam Reilly and Hadas Gold, CNN New York (CNN) — Olivia Nuzzi has parted ways with New York magazine, the publication said Monday, after the star Washington correspondent was placed on leave last month over a previously undisclosed “personal relationship” with Robert F. Kennedy, Jr. Nuzzi’s departure comes after the magazine enlisted the law

By Liam Reilly, CNN New York (CNN) — Rupert Murdoch’s Dow Jones, the parent company of the Wall Street Journal, and the New York Post sued Perplexity on Monday, accusing the generative AI company of illegally scraping its reporting and diverting traffic to its own platforms. The News Corp-owned companies accused Perplexity of training its so-called answer machine with copyrighted material, using scraped human-created

By Liam Reilly, CNN New York (CNN) — Top attorneys for Gov. Ron DeSantis penned the cease-and-desist letters sent by Florida’s health department threatening to criminally prosecute local TV stations over their airing of an abortion rights ad, the department’s former general counsel said in court documents. In an affidavit filed on Monday, John Wilson, the former general counsel for Florida’s Department of Health,

By Jordan Valinsky, CNN New York (CNN) — McDonald’s has been thrust into the 2024 election, gaining particular attention over the weekend when former President Donald Trump served fries at a Feasterville-Trevose, Pennsylvania, location. But McDonald’s had nothing to do with Trump’s visit. The company operates on a franchise model, which means the vast majority of its

By Robert Ilich, CNN (CNN) — More than 2,000 unionized mental health workers in Southern California went on strike against Kaiser Permanente on Monday after the two sides failed to reach a new labor agreement. The National Union of Healthcare Workers (NUHW) — which represents 19,000 healthcare workers in California and Hawaii, including 4,700 mental

By David Goldman, CNN (CNN) — Disney is about to have its fourth board chair in just over three years, as the company continues to navigate ongoing tumult in the media industry. Chairman Mark Parker will step down at the end of the year, the company announced Monday. Morgan Stanley CEO James Gorman will replace

By Jordan Valinsky, CNN New York (CNN) — BuyBuy Baby is once again saying goodbye to its stores less than a year after the bankrupt retailer tried to reopen some locations under a new parent. As part of a “strategic reset,” the retailer will shift to an online-only business model, and its 10 locations will