Money

By Hanna Ziady, CNN Business Adidas has appointed the head of Puma to succeed outgoing CEO Kasper Rorsted, betting on his ability to replicate its crosstown rival’s comeback. Norwegian Bjørn Gulden, 57, will become CEO of Adidas on January 1, 2023, the German sportswear brand said in a statement on Tuesday. Shares of the company

By Nicole Goodkind, CNN Business Tuesday’s midterm elections come at a time of economic vulnerability for the United States. Recession predictions have largely turned to “when” not “if” and inflation remains stubbornly elevated. Americans are feeling the pain of rising interest rates and are facing a winter filled with geopolitical tension. The results of Tuesday’s

By Frank Pallotta, CNN Business “Top Gun: Maverick” was never going to be an easy sell. Sure, the film starred Tom Cruise — arguably one of Hollywood’s most iconic movie stars — and it would be the sequel to “Top Gun,” one of the biggest blockbusters of all time. But the original “Top Gun” was

By Michelle Toh, CNN Business The founder of Mamee Monster, the iconic Southeast Asian noodle snack brand, has died, the company confirmed Tuesday. Mamee-Double Decker Group, a Malaysian food manufacturer, told CNN Business that Pang Chin Hin died on Saturday at the age of 92. Local media had given his age as 96, reflecting a

By Sahar Akbarzai and Lauren Kent, CNN Two British-Iranian journalists working in the United Kingdom have been warned by police of a “credible” plot by Iran to kill them, according to their employer, London-based news channel Iran International. In a statement Monday, the Farsi-language broadcaster said it was “shocked and deeply concerned” by the alleged

By Michelle Toh, CNN Business Taiwan’s latest entrant to Wall Street has had a rough ride since it went public a week ago. Shares of Perfect Corp., a software company that allows users to virtually try on makeup or jewelry from brands such as Estée Lauder, LVMH and Shiseido, have fallen more than 40% from

By Tara Subramaniam, CNN It’s not unusual for temperatures in India’s Thar Desert to reach 48 degrees Celsius (118 degrees Fahrenheit). Even when they drop, hot winds sweep across the bare plains. The soil here is infertile, water is scarce. This place is near unlivable for humans — but it’s ideal for one of the

By Jennifer Korn Shares of used car marketplace Carvana continued to plummet Monday, falling over 50% over the past two trading days, following a volatile downward trend that began after the company shared third-quarter results Thursday. Shares dropped 15% Monday to close the day at $7.39 a share, continuing a downward trajectory that began on

By Alicia Wallace, CNN Business American consumers borrowed another $25 billion in September, according to newly released Federal Reserve data, as higher costs led to further dependence on credit cards and other loans. Economists were anticipating monthly growth of $30 billion, according to Refinitiv consensus estimates. The data isn’t adjusted for inflation. Consumer borrowing in

By Paul R. La Monica, CNN Business The stock market has been on a roller coaster ride, largely because of Wall Street’s shifting expectations about whether the Federal Reserve is going to slow down the pace and size of its interest rate hikes. The Fed briefly excited investors last week when it acknowledged in its