Money

By Sophia Saifi, Azaz Syed and Rhea Mogul, CNN A nationwide power outage in Pakistan left nearly 220 million people without electricity on Monday, threatening to cause havoc in the South Asian nation already grappling with fuel shortages in the winter months. The country’s Ministry of Energy said in a statement the country’s National Grid

By Alicia Wallace, CNN After the United States hit its debt ceiling on Thursday, the Treasury Department is now undertaking “extraordinary measures” to keep paying the government’s bills. A default could be catastrophic, causing “irreparable harm to the US economy, the livelihoods of all Americans and global financial stability,” Treasury Secretary Janet Yellen has warned.

By Paul R. La Monica, CNN Recession alarm bells are sounding. But are they premature? Yes, retail sales tumbled in December as inflation took its toll on consumers. The manufacturing sector is contracting. And several prominent CEOs are talking about the increased likelihood of a downturn during recent quarterly earnings conference calls. But the United

By Jeanne Sahadi, CNN Official tax-filing season kicks off Monday, January 23, and it may hold some surprises for your wallet. So, whether you expect to file your 2022 federal income tax return right away or wait until the last minute, now is a good time to get a sense of whether you’ll owe more

By Faith Karimi, CNN Ruja Ignatova strode onto the stage in a flowing burgundy ball gown adorned with black sparkles. Beams of light flashed, fireballs erupted and Alicia Keys’ “Girl on Fire” blared through the speakers. “Looks like a girl, but she’s a flame. So bright, she can burn your eyes — better look the

By Ramishah Maruf, CNN Just this week, Alphabet, Google’s parent company, Microsoft and Vox Media announced layoffs that will affect more than 22,000 workers. Their moves follow job cuts earlier this month at Amazon, Goldman Sachs and Salesforce. More companies are expected to do the same as firms that aggressively hired over the last two

By Ramishah Maruf, CNN Frozen custard and burger chain Culver’s is switching from Pepsi products to Coca-Cola — and Pepsi fans are not happy. “This is in progress and will take time as our nearly 900 restaurants located in 26 states make the switch,” the Wisconsin-founded chain said in a statement, adding that its signature

By Parija Kavilanz, CNN Most retailers are tripping over themselves to stay relevant by courting younger Millennial and Gen Z shoppers. Not Lands’ End. As it looks to grow its customer base, Lands’ End is bucking the trend by purposely embracing the “forgotten generation,” Gen Xers. They are the generation of consumers sandwiched between Baby

By Nathaniel Meyersohn, CNN Santa Fe, New Mexico, paid a local contractor $47,000 to round up about 3,000 shopping carts around the city in 2021 and 2022. Fayetteville, North Carolina, spent $78,468 collecting carts from May 2020 to October 2022. Shopping carts keep wandering away from their stores, draining taxpayers’ coffers, causing blight and frustrating

By Michelle Toh, CNN Eggs have soared in cost around the world over the past year as avian flu decimated chicken flocks and fallout from Russia’s war with Ukraine raised the prices of energy and animal feed. In the United States, egg prices have far surpassed the increase in other grocery items, soaring nearly 60%

By Matt McFarland and Chris Isidore, CNN Tesla CEO Elon Musk took the stand in a California court room Friday to testify in the lawsuit over his controversial “funding secured” tweet in 2018. Tesla, Musk and company directors are facing a shareholder lawsuit over his infamous 2018 tweet, which said that he was thinking about