Money

By Matt Egan, CNN New York (CNN) — A growing number of cash-strapped Americans are cracking their nest eggs for emergency funds. The number of 401(k) plan participants taking hardship distributions increased by 13% between the second and third quarters, according to an analysis by Bank of America of its clients’ employee benefit programs. That figure now

By Alicia Wallace, CNN Minneapolis (CNN) — The resilient consumer has kept the US economic engine running, but it’s coming at a big cost: Americans are piling up record credit card balances, and more and more are falling behind on those payments. During the third quarter, credit card balances hit a fresh high of $1.08 trillion, rising $48

By Anna Bahney, CNN Washington, DC (CNN) — When Michael Monaghan, a real estate agent with Coldwell Banker Sellers Realty in northern California, got an offer for a home in Bayside at the seller’s $650,000 list price in September, he told the buyer’s agent that the buyer needed to start looking for insurance immediately. “I

By Jeanne Sahadi, CNN New York (CNN) — If you’ve always thought you might be happier with a four-day workweek, you’re hardly alone. When asked how six different options would impact their well-being at work, a full 77% of US workers said a four-day, 40-hour workweek would have a positive impact, with 46% saying it

By Parija Kavilanz, CNN New York (CNN) — Walmart announced Tuesday that it is making changes to create a calmer shopping experience, at least for a few hours every day in all of its US stores. Set to be implemented on Nov. 10, the changes include setting in-store TV walls to a static image, turning

By Barbie Latza Nadeau, CNN Rome (CNN) — Italian tax authorities are poised to seize some €779 million ($836 million) from Airbnb as a result of its alleged failure to pay taxes owed by landlords using the platform. It’s the latest sign of intense scrutiny of short-term rentals that have proliferated in big cities in

By Matt Egan, CNN New York (CNN) — Federal Reserve officials are urging banks to work with customers hurt by ongoing deposit delays that have prevented some people from accessing their paychecks and other funds. A number of customers still haven’t received their direct deposit paychecks following a “human error” that damaged the plumbing of America’s banking

By Jordan Valinsky, CNN New York (CNN) — For those that can’t get enough of espresso martinis, there’s now a gift that smells like the iconic cocktail that’s experiencing a resurgence for its 40th birthday. Absolut Vodka and Kahlúa coffee liqueur, two spirits that are often mixed to create an espresso martini, are releasing a

By Diksha Madhok, CNN (CNN) — The CEO of a Chinese live-streaming service backed by Tencent has become the latest high-flying executive to fall mysteriously silent in the world’s second largest economy. According to a Monday report from the Cover News, a state-owned media outlet, DouYu (DOYU) CEO Chen Shaojie has been unreachable in recent days.

By Oliver Darcy, CNN (CNN) — How do you interview election deniers? George Stephanopoulos offered an example on Sunday. In a remarkable exchange with Rep. Steve Scalise that aired on “This Week,” the ABC News anchor pressed the Republican House Majority Leader no less than a half dozen times on what should have been a

By Clare Duffy, CNN New York (CNN) — Just over a year ago, Alphonzo Terrell received an email letting him know he’d been laid off from Twitter. Terrell – who’d spent three years heading the platform’s social and editorial teams – was among the roughly 3,700 employees let go from the company on Nov. 4,

By Michelle Toh, CNN Hong Kong (CNN) — Senior Chinese officials have defended the state of the world’s second largest economy at a conference in Hong Kong, telling global financiers not to worry about prospects in China despite an uneven recovery and ailing property market. In a recorded message, Vice Premier He Lifeng told the

By Hanna Ziady, CNN London (CNN) — UBS made a hefty loss in the first full quarter since it closed a deal to rescue Credit Suisse, highlighting the scale of the challenge the bank faces as it absorbs its stricken rival. The Swiss lender reported a net loss of $785 million for the June-to-September quarter

By Simone McCarthy, CNN Hong Kong (CNN) — Developing countries owe Chinese lenders at least $1.1 trillion, according to a new data analysis published Monday, which says more than half of the thousands of loans China has doled out over two decades are due as many borrowers struggle financially. Overdue loan repayments to Chinese lenders are soaring, according

By Peter Valdes-Dapena, CNN (CNN) — Stellantis’ new Ramcharger pickup, expected to go on sale late next year, will be an “electric” truck, the company says. But really, it’ll be a hybrid, with a gasoline engine under the hood, the company announced Tuesday. It will be sold alongside the Ram REV, the company’s actual fully-electric

By Catherine Thorbecke, CNN New York (CNN) — WeWork, the beleaguered coworking space company, has filed for bankruptcy, marking a stunning downfall for what was once the world’s most valuable startup. The Chapter 11 bankruptcy announcement was widely expected after the company said last month it was struggling to pay back its debt. The pandemic

By Ramishah Maruf, CNN New York (CNN) — SAG-AFTRA said it has responded to Hollywood studios’ “last, best & final offer” on Monday as pressure ramps up to reach a deal ending the industry-freezing strike. The actors’ union said in a message to its members that there are several “essential items” that the two sides have yet to reach agreement on, such as the use

By Samantha Delouya, CNN (CNN) — The University of Pennsylvania police and the FBI are jointly investigating a series of threatening antisemitic emails sent to university staff, Penn President Liz Magill said on Monday. In an email to the university community, Magill said she learned that some Penn staff members received “vile, disturbing antisemitic emails

By Jeanne Sahadi, CNN New York (CNN) — A payment processing error that caused delays in some deposits that were originally expected to post to customer accounts in the first three days of November was unwelcome news to bank customers who were affected. The Clearing House, which is the private operator of the Automated Clearing