Money

By Jordan Valinsky, CNN New York (CNN) — Rite Aid is closing another roughly 30 locations across the US in addition to the 100 the bankrupt chain announced last month as part of its restructuring efforts. The latest round of closures was revealed in a bankruptcy court filing with 31 stores closing in a dozen

By Oliver Darcy and Jon Passantino, CNN (CNN) — Jezebel, the punchy feminist blog that was shuttered earlier this month, will be resurrected after the publication was sold to a new owner.Jezebel, the punchy feminist blog that was shuttered earlier this month, will be resurrected after the publication was sold to a new owner. The digital

By Nicole Goodkind, CNN New York (CNN) — JPMorgan Chase CEO Jamie Dimon issued a stark warning to Wall Street on Wednesday: Inflation could rise further and recession is not off the table. “A lot of things out there are dangerous and inflationary. Be prepared,” he said at the 2023 New York Times DealBook Summit

By Alicia Wallace, CNN Minneapolis (CNN) — Your True Love’s lavish — and stunningly bird-laden — holiday gift-giving ritual is more expensive than ever before. But at least this time around, inflation’s not as piping hot. The cost of the dozen gifts outlined in the “Twelve Days of Christmas” song rang in at an all-time

By Bryan Mena, CNN Washington, DC (CNN) — US economic growth was even stronger in the third quarter than previously estimated, underscoring the economy’s remarkable resilience in the face of elevated inflation and high borrowing costs earlier this year. Gross domestic product, the broadest measure of economic output, rose at an annualized rate of 5.2%

By Oliver Darcy, CNN (CNN) — Bob Iger, neatly dressed in a gray suit and pressed white shirt, sans tie, strutted onstage Tuesday afternoon at the New Amsterdam Theatre in New York City, greeting an anxious crowd of Disney employees assembled for his highly anticipated appearance. The chief executive, now a year into his second

By Anna Cooban, CNN London (CNN) — The US dollar is barreling toward a 3.7% loss this month against a basket of six major currencies in what would be it worst monthly performance in a year. That’s good news for countries relying on imports of commodities, most of which are traded in dollars, as well

By Jordan Valinsky, CNN New York (CNN) — Kraft’s new Mac & Cheese is ditching the cheese and going vegan. For the first-time ever, the household staple is going plant-based with a new version of the boxed favorite that contains a dairy-free alternative to its signature cheese. It’s called “Kraft NotMac&Cheese” and will soon roll

By Nathaniel Meyersohn, CNN New York (CNN) — The Black Friday and Cyber Monday billion-dollar US spending spree was fueled by “Buy Now, Pay Later” shoppers. On Cyber Monday, Buy Now, Pay Later purchases hit an all-time high, up 43% from a year ago, according to Adobe Analytics. The number of items per order also

By Laura He, CNN Hong Kong (CNN) — Chinese social media users are mourning the death of billionaire investor Charlie Munger. The vice chairman of Berkshire Hathaway passed away “peacefully” on Tuesday morning in a California hospital, according to a press release by the investment firm. No cause of death was given. The 99-year-old investor

CNN By Paul R. La Monica and Krystal Hur, CNN New York (CNN) — Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. He was 99 years old. Berkshire Hathaway, the investment firm where Munger served as vice chairman, said in a press release that Munger passed “peacefully” on

By Catherine Thorbecke, CNN (CNN) — Once bitter rivals fighting for control of London’s streets, Uber and the British capital’s iconic black cab taxis are now teaming up. Uber on Tuesday announced a new partnership with London’s black cab taxis that will let cab drivers opt in to gain access to Uber trip referrals. Riders,

By Matt Egan, CNN New York (CNN) — Billionaire hedge fund CEO Bill Ackman and several other business leaders are demanding Harvard University release the names of students whose organizations signed on to a letter blaming solely Israel for the deadly attacks by Hamas. The CEOs want the students blacklisted. But some of those students

By Parija Kavilanz, CNN New York (CNN) — More people than ever flocked to stores and websites over the Thanksgiving and Black Friday holiday weekend this year, but consumers didn’t quite break the spending record set in recent years. About 200.4 million people, or more than 60% of the US population, shopped over the five

By Paul R. La Monica and Krystal Hur, CNN New York (CNN) — Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. He was 99 years old. Berkshire Hathaway, the investment firm where Munger served as vice chairman, said in a press release that Munger passed “peacefully” on Tuesday

By Oliver Darcy, CNN (CNN) — Rupert Murdoch is set to be deposed on Tuesday in voting technology company Smartmatic’s mammoth $2.7 billion election defamation lawsuit against Fox News, a person familiar with the matter told CNN. The deposition of the right-wing media mogul, which was first reported by Reuters, is set to take place in Los Angeles. Murdoch founded Fox

By Brian Fung, CNN Washington (CNN) — A federal judge will not block the US government from expanding a landmark $5 billion privacy settlement with Instagram-parent Meta, paving the way for the Federal Trade Commission to propose tough new rules on how the social media giant can monetize user data. The decision Monday by District

By Matt Egan, CNN New York (CNN) — The presidents of Harvard University, MIT and the University of Pennsylvania are scheduled to testify before Congress next week at a hearing on antisemitism on campus, lawmakers announced Tuesday. The hearing, set for December 5, will be held by the House Committee on Education and the Workforce. It comes