Money

By Matt Egan, CNN New York (CNN) — In 2018, Bobby Djavaheri feared his family’s appliance business faced an existential threat from the Trump administration’s tariffs on Chinese air fryers. Djavaheri, president of Yedi Houseware Appliances, consulted with a customs attorney and applied for a tariff exclusion with the United States Trade Representative to avoid

By Pete Muntean, CNN (CNN) — Airlines have pocketed billions of dollars in so-called “junk fees” by charging customers extra to select a seat or to carry on bags, according to a Senate subcommittee report published on Tuesday. The report said some airlines have even paid workers cash incentives to identify customers trying to avoid

By Juliana Liu and Hassan Tayir, CNN Hong Kong (CNN) — Huawei has unveiled a new flagship phone boasting entirely homegrown software that aims to give users an alternative to Google’s Android or Apple’s iOS, in another effort by the Chinese tech giant to defend against possible further sanctions by Washington. The new Mate 70

By Nathaniel Meyersohn, CNN New York (CNN) — Walmart, the largest private employer in the United States, will curb some diversity, equity and inclusion (DEI) efforts. It’s the latest company to backtrack on diversity initiatives in the face of right-wing pressure, and its decisions will reverberate across corporate America. The company said Monday it is

By Sean Lyngaas, CNN (CNN) — A ransomware attack has disrupted a third-party software system that Starbucks uses to track and manage its baristas’ schedules, forcing the coffee chain to shift to manual mode to ensure its employees get paid properly, a Starbucks spokesperson said Monday. Starbucks’ store leadership have advised their employees on how

By Bryan Mena, CNN Washington (CNN) — Warren Buffett shared on Monday his most detailed plan yet for his fortunes after death, while announcing he will continue to give away his staggering wealth. In a letter to shareholders, the iconic investor and Berkshire Hathaway CEO, who is 94, reflected on the nature of mortality, referencing

By Ramishah Maruf, CNN New York (CNN) — Kohl’s announced its CEO Tom Kingsbury will step down on January 15, 2025, and will be replaced by the CEO of arts and crafts retailer Michaels. Ashley Buchanan, the next Kohl’s CEO, has been CEO of Michaels since 2020 and was a senior executive at Walmart and

CNN By Jordan Valinsky, CNN New York (CNN) — Macy’s announced Monday that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report, which the retailer had planned to release Tuesday. The company recently discovered that the unnamed employee intentionally hid as much as

By Ramishah Maruf, CNN New York (CNN) — Microsoft said most Outlook and Teams services had been restored as of Monday evening, after more than 24 hours of technical delays. On Tuesday afternoon, the company announced a full restoration of services. At the outage’s peak, tracking site Downdetector showed more than 5,000 user-reported problems, though

By Hanna Ziady, CNN London (CNN) — Thyssenkrupp Steel has announced plans to eliminate 11,000 jobs by the end of this decade — about 40% of its workforce — becoming the latest German industrial giant to opt for drastic action to prop up its fortunes. The company said Monday that it is aiming to cut

By Jordan Valinsky, CNN New York (CNN) — Macy’s announced Monday that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report, which the retailer had planned to release Tuesday. The company recently discovered that the unnamed employee intentionally hid as much as $154

By Matt Egan, CNN New York (CNN) — Business leaders say they are relieved ­President-elect Donald Trump made a safe choice to lead the Department of Treasury after more unconventional selections to other cabinet posts. Hedge fund executive Scott Bessent survived an internal squabble over the role of Treasury secretary, a key position that will

By Jeanne Sahadi, CNN (CNN) — Unless you’re lucky enough to have a defined-benefit pension on top of Social Security when you retire — which most US private-sector workers will not — figuring out how to make your money last in retirement can be nerve-wracking. That’s because you can’t predict any of the big variables

By Nathaniel Meyersohn, CNN New York (CNN) — Americans are losing their taste for Lunchables. Sales of the compartmentalized meat and cheese meal marketed to kids and their busy parents in colorful boxes slid 12% during the quarter ending on November 3, according to Circana data. Lunchables’ slide is hurting its parent company, Kraft Heinz.

By Ramishah Maruf, CNN New York (CNN) — Iced coffee just isn’t the same when you make it at home. It quickly waters down, tastes bitter and simply doesn’t emulate what you pay a barista upwards of $8 for. But brands like Nestlé and Keurig, who make single-serve espresso machines ubiquitous in many households, are

By Auzinea Bacon, CNN (CNN) — Hollywood is seeing green this weekend, with “Wicked” leading a big jump at the domestic box office. “Wicked” and “Gladiator II” — which some have called “Glicked” following the success of the 2023 summer blockbusters “Barbie” and “Oppenheimer” — combined to gross an estimated $169.5 million in their domestic

By Sean Lyngaas, CNN (CNN) — A major software supply-chain company, which counts US and UK grocery stores and Fortune 500 firms as clients, said it was hit by a ransomware attack this weekend. The hackers hit Blue Yonder — an Arizona-based software firm acquired by Panasonic in 2021 — affecting a private cloud computing

By Vanessa Yurkevich, CNN New York (CNN) — Egg prices have risen steadily over the past two years. A spike in avian flu and the approaching holiday season are combining to make the problem even worse. “Thanksgiving (dinner) is the same price this year as last year overall, except eggs. The one little spike that

By John Towfighi, CNN (CNN) — Thanksgiving means football, food and, for some, crazy family reunions. It can also mean the stress of shopping (and paying) for a big dinner. The cost of groceries for Thanksgiving dinner for 10 people has decreased two years in a row but remains 19% higher than before the pandemic,

By Chris Isidore, CNN New York (CNN) — This week ended with President-elect Donald Trump nominating one of the most pro-union Republican members of Congress to be his secretary of Labor. But it began with a company owned by one of his more ardent supporters, Elon Musk, arguing in court that a key federal labor