Money

By Chris Isidore, CNN New York (CNN) — More than $100 million has been raised for California wildfire victims on GoFundMe so far. But some of those fundraising efforts could actually end up limiting the money that would be available through the Federal Emergency Management Agency. FEMA can provide financial assistance for those who lost

By John Towfighi, CNN New York (CNN) — US stocks surged higher Wednesday after an encouraging inflation report and blockbuster profits for some of America’s biggest banks. The Dow surged 703 points, or 1.65%, to close at 43,222. The S&P 500 rose 1.83% and the tech-heavy Nasdaq Composite ended the day higher by 2.45%. The

By Alicia Wallace, CNN (CNN) — Recently, progress on inflation appeared to be stuck or, at worst, reversing: A closely watched gauge of underlying price hikes — an index that excludes highly volatile categories — hadn’t budged for months. On Wednesday, it got unstuck. The closely watched core measurement of the Consumer Price Index slowed

By Jeanne Sahadi, CNN (CNN) — If keeping up with tax changes in the law were a sport, 2017 and 2025 might be considered the Tax Olympics. Recall that during the first year of President-elect Donald Trump’s first term, lawmakers defied the odds and passed the largest overhaul of the tax code in more than

By Jordan Valinsky, CNN New York (CNN) — Joann, the fabrics and crafts retailer, has filed for bankruptcy for a second time within a year and announced that it’s seeking a sale. The 82-year-old retailer said in statement Wednesday that sluggish sales and inventory issues forced Joann to file for Chapter 11 again. Joann first

By Hanna Ziady, CNN London (CNN) — Germany’s economy, the largest in Europe, contracted for the second year in a row in 2024, official data showed Wednesday, underscoring the challenges facing the region as it tries to get economic growth back on track. Germany’s gross domestic product fell 0.2% last year, according to the country’s

By Jordan Valinsky, CNN New York (CNN) — There’s no better example of having a case of Mondays than the day after the Super Bowl. Coors Light announced Wednesday that it’s temporarily changing its name to “Mondays Light” in an attempt to “bring chill to one of the worst Mondays of the year” by selling

By Chris Isidore, CNN New York (CNN) — There’s a good chance your car knows all about you. Where you’ve been. How fast you drive. If you could’ve been a little easier on the brakes. Even what you look like, thanks to cameras pointed right at your face. This kind of data collection has been

By Ramishah Maruf, CNN New York (CNN) — The US Securities and Exchange Commission sued Elon Musk on Tuesday for allegedly failing to properly disclose his ownership of X, then known as Twitter, as required by federal law, which allowed him to buy shares of the platform at “artificially low prices.” Before he closed his

By Tami Luhby, CNN (CNN) — Pharmacy benefit managers, which serve as the middlemen between drug makers, insurers and pharmacies, reaped $7.3 billion in revenue from marking up the prices of dozens of specialty generic drugs between 2017 and 2022, the Federal Trade Commission said in an interim report issued Tuesday. The practice came at

By Matt Egan and Paul P. Murphy, CNN (CNN) — The Colonial Pipeline has temporarily shut its main gasoline line – America’s largest fuel pipeline – because of leak in Georgia, the pipeline’s operator and local officials said. Line 1 of the 5,500-mile Colonial Pipeline had a “gasoline release,” according to Stephen Dooley, Paulding County

By Ramishah Maruf and Clare Duffy, CNN New York (CNN) — Meta is aiming to cut about 5% of what it calls its “lowest performers” with plans to backfill those roles later this year, the company confirmed on Tuesday. Those jobs cuts could affect about 3,600 workers, based on Meta’s latest quarterly report citing a

By Jordan Valinsky, CNN New York (CNN) — Brown-Forman, the parent company of Jack Daniel’s whiskey and Woodford Reserve bourbon, is laying off approximately 12% of its 5,400 employees amid a downturn in spirits sales. The Louisville-based company has hiked prices in recent years to offset inflation and shield itself from the rising costs of

By Chris Isidore, CNN New York (CNN) — Boeing had a decent orderbook in December to cap a very bad year. But its deliveries for the month show it continues to struggle to rebound from the crippling strike earlier in the fall. The company said it had 142 gross orders in the month, mostly for

By Jordan Valinsky, CNN New York (CNN) — Capital One is being sued by the US government’s consumer watchdog agency for “cheating millions of consumers” and not paying more than $2 billion in interest to holders of its high-interest savings accounts. The Consumer Financial Protection Bureau (CFPB) accuses Capital One of freezing the interest rates

Al Goodman, CNN Madrid (CNN) — Spain’s prime minister is pushing for far-reaching action to ease the nation’s housing crunch, including a tax of up to 100% on property purchases by non-European Union buyers. “There are too many Airbnbs. What’s lacking is housing,” Pedro Sanchez said Monday as he put forward a raft of new

By Brian Stelter, CNN New York (CNN) — Rashida Jones is stepping down as president of MSNBC and one of her top lieutenants, Rebecca Kutler, is taking over as interim network president. The change atop the progressive news network comes as its corporate parent, Comcast, prepares to spin off MSNBC and other cable channels into

By Brian Stelter, CNN New York (CNN) — There’s a new “Trump bump” materializing for some news outlets, though it’s showing up differently than it did the first time Donald Trump was elected president. That’s the assertion from The Guardian, the British newspaper with an ambitious American arm. According to internal data shared with CNN,

By Alicia Wallace, CNN (CNN) — There appears to be some welcome news on the US inflation front. Price hikes on the wholesale level were much tamer than anticipated in December, according to the latest Producer Price Index released Tuesday, indicating that inflation might not be reaccelerating as much as feared. However, Tuesday’s positive PPI

By Jordan Valinsky and Nathaniel Meyersohn, CNN New York (CNN) — Starbucks doesn’t want to be America’s public bathroom anymore. Starbucks is scrapping a policy that had let anyone hang out at its cafes or use the restrooms without making a purchase. The new rules are part of a larger effort to improve Starbucks’ cafe