Money

By Parija Kavilanz, CNN At the end of a long wooden California pier that juts out above the Pacific ocean sits the Wharf House. It’s now almost entirely unreachable. The Wharf House restaurant, an iconic establishment for the residents in the seaside town of Capitola in Santa Cruz County, sits alone, boarded up, damaged, with

By Jordan Valinsky, CNN Business Pepsi Zero Sugar will soon taste different. The sugar-free soda unveiled a new recipe that uses a “new sweetener system” that gives it a more “refreshing and bolder taste profile” compared to its previous iteration, Pepsi announced Friday. Pepsi didn’t reveal what specifically changed in the formula, though the company

By Paul R. La Monica, CNN JPMorgan Chase, Bank of America, Citigroup and asset management giant BlackRock posted results that topped Wall Street’s forecasts Friday, but investors were nonetheless a little disappointed at first. Trading was choppy, with most bank stocks falling at the open before rebounding. Shares of JPMorgan Chase were up about 2.5%

By Nicole Goodkind, CNN America’s largest financial institutions are pivoting into a new industry: Meteorology. JPMorgan Chase CEO Jamie Dimon has already been very vocal in his ominous forecasts of storm clouds and hurricanes. Now, Goldman Sachs is joining him in the weather prediction business. The bank’s investment strategy group is sending a message to

By Gabe Cohen, CNN At Teddy & The Bully Bar restaurant near downtown Washington, DC, business has never been the same since the pandemic hit. “It’s very challenging,” owner Alan Popovsky said. “I’m still going to be climbing the hill for quite some time. Probably for the rest of my life.” The pandemic closed two

By Brian Fung, CNN The massively disruptive computer outage at the Federal Aviation Administration this week that caused thousands of cancelled or delayed flights has put Americans uncomfortably face-to-face with the technology behind US air travel — for at least the second time in a month. As the country once again picks up the pieces,

By Chris Isidore, CNN Delta Air Lines reported very strong fourth-quarter results Friday that beat forecasts, capping its first profitable year since before the pandemic. But a new labor deal with its pilots union will trim profitability going forward. The Atlanta-based airline said it expects first-quarter earnings per share of 15 to 40 cents, well

By Diksha Madhok Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in China, the world’s largest car market. The company plans to build a research, development and manufacturing facility for parts for new energy vehicles and automated-driving technology in Suzhou, a city in

By Kocha Olarn and Michelle Toh, CNN For years, Thailand welcomed legions of Chinese tourists to its golden beaches, shopping districts and striking temples. That came to a screeching halt during the Covid pandemic, as China virtually sealed its borders. Now, the Southeast Asian nation is back on the welcome wagon — and telling the

By Laura He, CNN China reported a record trade surplus for 2022, as its key export sector delivered robust growth for most of last year, providing much-needed support for the world’s second largest economy that’s hammered by its zero-Covid policy. But plunging shipments in December suggest exports are likely to struggle in early 2023 as

By Pierre Meilhan, CNN A Boeing 737 Max 8 took off in China on Friday, for the first time since the government grounded all 737 Max 8 planes in 2019, according to the flight tracking website, Flightradar24. In March 2019, Chinese aviation authorities instructed airlines in the country to ground all their Boeing 737 MAX

By Juliana Liu, CNN Corporate workers at Starbucks must return to the office at least three days a week by the end of January, interim CEO Howard Schultz announced in a Wednesday memo, as another corporate giant clamps down on remote work. Employees within commuting distance of the company’s Seattle headquarters will be required to