Money

By Alicia Wallace, CNN (CNN) — US wholesale inflation shot higher last month, an unwelcome sign that some prices could be heating up before they come down the pike to consumers. The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, rose 0.4% on a monthly basis and 3% for

By Jordan Valinsky, CNN New York (CNN) — The Consumer Financial Protection Bureau has finalized a rule that curbs excessive overdraft fees charged to customers of large banks and credit unions, potentially saving consumers as much as $5 billion a year. The rule, unveiled Thursday, would cap overdraft fees at $5 — a substantial savings

By Nathaniel Meyersohn, CNN New York (CNN) — Drug stores around the United States are struggling. Especially Walgreens. Walgreens’ stock has plunged more than 80% over the past five years, ranking the company among the worst-performing stocks during that stretch. It’s closing 1,200 stores, roughly 15% of its locations. And now Walgreens is reportedly looking

By Matt Egan, CNN New York (CNN) — Import taxes are set to spike under the incoming Trump administration, forcing Americans to pay more for everything from foreign-made sneakers and toys to food, according to new research. The items that are most vulnerable to price spikes from President-elect Donald Trump’s proposed tariffs are ones that

By Tami Luhby, CNN (CNN) — Instead of being able to calmly focus on her chemotherapy treatment, Arete Tsoukalas had to spend hours on the phone arguing with her insurer while receiving infusions in the hospital. Diagnosed with leukemia three years ago, Tsoukalas, 26, was stunned to learn that her insurer’s coverage of the drug

By Hadas Gold, CNN (CNN) — Alex Jones’ control of Infowars has lived on another day, although the long-term future of the site, known for peddling conspiracy theories, has been thrown into doubt after a bankruptcy judge blocked the results of a recent auction for the company’s assets. The judge blocked the winning bid by

By Elisabeth Buchwald, CNN New York (CNN) — Meta has donated $1 million to President-elect Donald Trump’s inaugural fund, the company confirmed to CNN. The news comes two weeks after Meta CEO Mark Zuckerberg met with Trump privately at Mar-a-Lago. The donation was first reported by The Wall Street Journal. CNN has reported that Zuckerberg

By Reuters A US appeals court on Wednesday ruled that Nasdaq could not impose rules requiring companies listed on the exchange to have women and minority directors on their boards or explain why they do not. The New Orleans-based 5th US Circuit Court of Appeals on a 9-8 vote sided with two conservative advocacy groups

By Ramishah Maruf, CNN New York (CNN) — A former Florida-based TD Bank employee was arrested for his alleged role in a massive money-laundering scheme by drug cartels for which the US government previously fined the bank $3 billion. The US attorney’s office in the District of New Jersey announced that Leonardo Ayala, 24, was

By Ramishah Maruf, CNN New York (CNN) — Meta said Wednesday that it is close to resolving a technical issue that is causing a widespread outage of its apps, including Facebook, Instagram and WhatsApp. “We’re aware that a technical issue is impacting some users’ ability to access our apps. We’re working to get things back

By Ramishah Maruf, CNN New York (CNN) — The richest person in the world just hit an even higher milestone. Elon Musk’s net worth has reached $400 billion, according to Bloomberg, making him the first person ever to cross that mark. Behind his nearly $20 billion jump in wealth was a deal that shot up

WABC, CNN By Matt Egan, CNN New York (CNN) — Corporations are scrambling to protect their senior executives as police warn of an elevated near-term threat against business leaders. Boards are reassessing security budgets. And CEOs are being told to delete their digital footprints. The stunning killing of UnitedHealthcare CEO Brian Thompson in Midtown Manhattan

By Kara Scannell and Lauren del Valle, CNN (CNN) — Federal prosecutors charged two prominent real estate brokers and their brother in a sex trafficking scheme, alleging they baited, drugged and sexually assaulted multiple women since 2010. Tal and Oren Alexander, top real estate brokers and brothers who started at real estate company Douglas Elliman,

By Jordan Valinsky, CNN New York (CNN) — There’s beef cooking between two of the biggest restaurant chains over their respective meal deals. In one corner is Applebee’s, which recently launched a $9.99 “Really Big Meal Deal,” and on the other side is Chili’s, home of the $10.99 promotion that has proven to be a

By Anna Cooban, CNN London (CNN) — Thousands of jobs are on the chopping block at German industrial giant Bosch in yet another blow to the country’s beleaguered economy. A spokesperson for the company told CNN Wednesday that it plans to cut a total of 8,250 jobs globally over the coming years. The axe will

By Nathaniel Meyersohn, CNN New York (CNN) — The largest proposed merger in US supermarket history has collapsed. Grocery chain Albertsons called off its $25 billion merger with Kroger Wednesday, a day after a federal judge blocked the deal. The merger, announced in 2022, sought to combine the fifth and tenth largest retailers in the

By Alicia Wallace, CNN (CNN) — Inflation heated back up again in November, but it likely wasn’t bad enough to keep the Federal Reserve from cutting rates next week. Consumer prices were up 2.7% for the 12 months ended in November, moving higher from the 2.6% annual increase seen in October and marking the highest

By Jordan Valinsky, CNN New York (CNN) — A cybersecurity attack is hampering some customers from getting their doughnuts at Krispy Kreme, the company revealed Wednesday. The chain said in a regulatory statement that it had detected “unauthorized activity on a portion” of its technology late last month that is still causing “certain operational disruptions,”

By David Goldman, CNN (CNN) — Macy’s said Wednesday that it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses, and it has tightened its controls to avoid a repeat of the embarrassing problem. The troubled retailer said its investigation revealed a single, unnamed accounting employee—who was responsible