Money

By Michelle Toh, CNN Hong Kong (CNN) — A top executive at HSBC has apologized after reportedly calling the UK government “weak” for caving to US pressure over doing business with China, in another sign of the political tightrope the British bank has to walk. Sherard Cowper-Coles, HSBC’s head of public affairs, inadvertently caused a

CNN By Eva Rothenberg, CNN (CNN) — Some might say Weird Barbies are made, not sold. Mattel, however, begs to differ. The toy company behind the iconic Barbie brand has announced a signature doll modeled after Kate McKinnon’s character from Greta Gerwig’s blockbuster “Barbie.” In the movie, McKinnon’s character helps send Margot Robbie’s Barbie on

By Eva Rothenberg, CNN (CNN) — Some might say Weird Barbies are made, not sold. Mattel, however, begs to differ. The toy company behind the iconic Barbie brand has announced a signature doll modeled after Kate McKinnon’s character from Greta Gerwig’s blockbuster “Barbie.” In the movie, McKinnon’s character helps send Margot Robbie’s Barbie on her

By Ramishah Maruf, CNN New York (CNN) — Troubled plant-based meat company Beyond Meat (BYND) posted a 30% revenue decline in the second quarter due to falling demand for its products, the company announced Monday. Beyond Meat president and CEO Ethan Brown said in a statement that the company is reducing its revenue outlook to

By Eva Rothenberg, CNN New York (CNN) — Iconic canned soup company Campbell is expanding its reach in the Italian food market. Campbell (CPB) announced Monday that it would acquire Sovos Brands, maker of the popular Italian food brands like Rao’s sauces and Michael Angelo’s frozen entrees, as well as noosa yogurt, in a deal

CNN By Samantha Delouya, CNN (CNN) — Over 11,000 Los Angeles city workers are planning to strike on Tuesday, according to the union that represents many of the city’s public-sector staff. City employees represented by SEIU Local 721, including those working in the sanitation department, at the city’s port and at Los Angeles International Airport,

By Samantha Delouya, CNN (CNN) — Over 11,000 Los Angeles city workers are planning to strike on Tuesday, according to the union that represents many of the city’s public-sector staff. City employees represented by SEIU Local 721, including those working in the sanitation department, at the city’s port and at Los Angeles International Airport, will

By Ramishah Maruf, CNN New York (CNN) — Paramount has agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash, after more than three years of trying to offload the book publishing powerhouse. Bob Bakish, president and CEO of Paramount Global, said Simon & Schuster is a “fantastic asset”

By Gregory Wallace and Eva Rothenberg (CNN) — More than 9,000 flights have been impacted by the severe summer storms that are pounding the eastern United States. Over 8,200 flights were delayed in the US on Monday, according to data from FlightAware, and more than 1,600 US flights were cancelled. Delta Airlines had around 400

By Allison Morrow, CNN New York (CNN) — PayPal is rolling out its first stablecoin as it attempts to capitalize on the “emerging potential” of US dollar-backed digital tokens for consumer payments. The stablecoin, PayPal USD, is fully backed by the US dollar and is “designed to reduce friction” for payments within virtual spaces and

By Danielle Wiener-Bronner, CNN New York (CNN) — Chicken prices are down. That’s good news for chicken eaters, but bad news for Tyson Foods. The meat processor, which supplies about a fifth of the beef, pork and chicken in the United States, said Monday that it is shutting down four chicken plants -— two in

By Jennifer Korn New York (CNN) — Google is moving ahead with its plan to delete accounts that have been inactive for at least two years. Accounts won’t be deleted until December 1, but Google (GOOG) will start sending warnings to affected users. The company will send multiple warning notifications to impacted Google (GOOG) accounts

By Matt Egan, CNN New York (CNN) — A senior official at the Federal Reserve is pushing back against growing hopes on Wall Street that the central bank could be nearly done raising interest rates. In a pair of speeches on Saturday and on Monday, Fed Governor Michelle Bowman warned that multiple rate hikes could

By Peter Valdes-Dapena, CNN Business New York (CNN) — Tesla’s “Master of Coin” and Chief Financial Officer Zachary Kirkhorn has stepped down after four years and six months in the role. Kirkhorn joined Tesla 13 years ago as a senior finance analyst, according to his LinkedIn profile, rising to CFO in 2019. Tesla announced in

By Nathaniel Meyersohn, CNN New York (CNN) — Cold drinks are hotter than ever. At Starbucks, cold drinks made up 75% of US beverage sales last quarter. Cold espresso drinks in particular rose 13% last quarter from a year ago, and drinks with cold foam are the fast-growing customized orders at Starbucks, the company said

By Jordan Valinsky, CNN New York (CNN) — Zoom, the company that powered the remote work revolution during the pandemic, is telling its employees to come back to the office. In a statement, Zoom said it’s now enforcing a “structured hybrid approach,” meaning that employees who live near an office “need to be onsite two

By Olesya Dmitracova, CNN London (CNN) — Industrial production in Europe’s biggest economy fell 1.5% in June compared with May, driven by a 3.5% drop in Germany’s vast automotive sector. The decline in German industrial output, much steeper than forecast by economists, raises the risk that the manufacturing heavyweight will contract again later this year,

By Chris Isidore and Michelle Toh, CNN New York/Hong Kong (CNN) — Yellow Corp., a once-dominant US trucking company, has filed for bankruptcy as it winds down its 99-year-old business that employs 30,000 workers. The Nashville-based logistics provider announced Sunday it had filed for Chapter 11 relief in the US Bankruptcy Court for the district

By Eva Rothenberg, CNN New York (CNN) — On the same day “Barbie” passed its billion-dollar box office milestone, the other half of the viral “Barbenheimer” phenomenon blew past the half-billion-dollar mark. Since its release three weeks ago, Christopher Nolan’s “Oppenheimer” has made $552.9 million worldwide, according to official estimates from Universal Pictures. It is