Money

By Matt Egan Two dozen Republican attorneys general warned Visa, American Express and MasterCard on Tuesday not to go ahead with their plans to add a new merchant category code for gun retailers. In a letter to the CEOs of the card giants, the officials expressed serious concern that adopting a new sales code for

By Nathaniel Meyersohn, CNN Business Frustrated by extra credit card fees when you shop? A pair of bipartisan bills in Congress aim to lower the swipe fees, also known as interchange fees, that retailers pay every time a customer makes a purchase with their card. The effort is backed by retail giants including Walmart, Target,

By Jordan Valinsky, CNN Business Roughly 500 corporate jobs are being eliminated at the Gap, adding to the problems that the beleaguered retailer is currently facing. The cuts include a mix of layoffs and open roles being axed at the company’s corporate offices in New York, San Francisco and across Asia, according to a person

By Anna Cooban, CNN Business More than 26 million people tuned in to watch the Queen’s funeral in the United Kingdom on Monday, the first to be televised for a British monarch. An average of 26.2 million people watched the hour of the Queen’s funeral service in Westminster Abbey on TV screens, according to the

By Matt Egan, CNN Business Federal regulators accused Morgan Stanley on Tuesday of “astonishing” failures that led to the mishandling of sensitive data on some 15 million customers. Morgan Stanley was slapped with a $35 million fine from the Securities and Exchange Commission for extensive failures to safeguard personal identifying information on its clients. Since

By Paul R. La Monica, CNN Business So much for Wall Street sitting back and taking it easy while awaiting the Federal Reserve’s latest interest rate decision on Wednesday. Stocks slid Tuesday as investors grew anxious about the impact of another big rate hike. The Dow fell more than 313 points, or 1%. The S&P

By Paul R. La Monica, CNN Business Peloton formally unveiled its high-priced new rowing machine Tuesday. But the company is still facing rough currents as it struggles to find its way into more friendly stock market waters. Shares of Peloton are down a staggering 70% this year. Co-founders John Foley and Hisao Kushi announced last

Opinion by Mark Suzman for CNN Business Perspectives The first two decades of the 21st century provided more progress for more people than perhaps any other period in human history. Deaths from malaria, HIV and tuberculosis were cut in half. Child deaths fell dramatically. Polio was nearly eradicated. And the global poverty rate fell by