Money

By Blake Ellis and Melanie Hicken, CNN Shipping giant Maersk has settled a lawsuit filed by a former US Merchant Marine Academy student who says she was raped while working on the company’s ship when she was 19 years old. The company’s US subsidiary Maersk Line, Limited (MLL) announced the settlement with USMMA graduate Hope

By Jeanne Sahadi, CNN Business Employers are planning to increase their salary budgets by 4.6% next year, the highest expected annual jump in 15 years. That’s according to the latest international survey from consulting firm Willis Towers Watson, which included responses from 1,550 US employers. The survey was conducted from October 3 to November 4.

By Allison Morrow, CNN Business November 2022 is a month that investors, particularly in cryptocurrencies, will never forget. And the worst may be yet to come. Over the past two weeks, the digital asset industry has watched in horror as FTX, the multi-billion-dollar crypto exchange created by one of its biggest and brightest stars, Sam

By Parija Kavilanz, CNN Business Customers are pulling back on spending at Gap and Old Navy — particularly in one specific category that shows just how much families are feeling inflation’s pinch. In tough times, parents typically skimp on themselves and focus on meeting the needs of their growing children. But Gap and Old Navy

By Mia Alberti IKEA furniture was allegedly produced by prisoners in Belarus penal colonies under forced labor conditions, according to a new report by the French non-profit investigative journalism network Disclose. Disclose alleges that at least ten of IKEA’s subcontractors in Belarus “had ties with penal colonies over the past 10 years,” according to accounting

By Matt McFarland, CNN Business The trial for the Tesla shareholder lawsuit examining CEO Elon Musk’s unprecedented compensation package wrapped up Friday afternoon. Chancellor Kathaleen McCormick did not issue a ruling from the bench, and it could be weeks to months before a ruling. “We have a lot of work ahead of us,” McCormick told both

By Matt Egan A powerful subcommittee in the House of Representatives is seeking internal documents and communications from Sam Bankman-Fried and FTX to understand how the crypto exchange collapsed so suddenly and what is being done to recover customer funds. FTX, formerly one of the most trusted brands in crypto, filed for bankruptcy last week