Money

By Allison Morrow, CNN FTX officials overseeing its bankruptcy have recovered more than $5 billion in cash and other liquid assets that may be used to help repay creditors, a lawyer for the failed crypto firm said during a bankruptcy court hearing Wednesday. That disclosure significantly raises the estimated amount of funds FTX claims to

By Julia Horowitz, CNN Business executives, politicians and academics are bracing for a gloomy world battered by intersecting crises, as rising volatility and depleted resilience boost the odds of painful simultaneous shocks. In its annual survey of risks published Wednesday, the World Economic Forum found that more than 80% of respondents expected either “persistent crises”

By Jordan Valinsky, CNN Business Netflix will air a live awards show for the first time, marking the streamer’s latest expansion into live programming and further cementing its influence in Hollywood. Beginning in 2024, the Screen Actors Guild Awards will be live-streamed globally on Netflix as part of a new, multi-year partnership. The awards show

By Anna Cooban, CNN Gold is shining once again, as investors bet that cooling inflation in the United States will slow the pace of Fed rate hikes and make the precious metal more attractive. Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce on Wednesday. Investors tend

By Jordan Valinsky, CNN Business Pepsi is reaching for the stars in its latest effort to take on Sprite. Starry, a new lemon-lime soda, is rolling out to grocery and convenience stores this week. It’s replacing Sierra Mist, a 24-year-old brand that has failed to gain traction against market leader Sprite, which is owned by

By Michelle Toh, CNN Fast Retailing, the Japanese giant that owns popular clothing brands Uniqlo and Theory, will start paying its employees much more this year. The company announced Wednesday that it would boost salaries in Japan by up to 40%, acknowledging that “remuneration levels have remained low” in the country in recent years. “This

By Oliver Darcy, CNN C-SPAN isn’t packing up its cameras quietly. The public affairs network on Tuesday sent a letter to new House Speaker Kevin McCarthy asking for permission to operate its own independent cameras in the House chamber. “Allow C-SPAN to cover House floor proceedings on behalf of our network and all Congressionally-accredited news

By Jackie Wattles, CNN A rocket operated by a California-based start-up failed near the coast of Alaska Tuesday, marking yet another mishap for companies hoping to offer their services to launch scores of small satellites into orbit. The privately held ABL Space Systems attempted to launch its RS1 rocket at 1:27 p.m. local time (5:27

By Matt Egan, CNN Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. The scandal-ridden bank announced a significant shift on Tuesday to focus its mortgage business on serving bank customers and minority homebuyers instead of acquiring new customers. Wells Fargo said it will also exit

By Celina Tebor, CNN Lora Ribas hasn’t left her son’s bedside in four days. Her one-year-old baby, Logan, has been in the neonatal intensive care unit (NICU) since he was born. For the past three and a half months, he’s been under the care of Mount Sinai Hospital where thousands of nurses are currently striking.

By Hanna Ziady and Joseph Ataman, CNN The French government is planning to raise the official retirement age by two years as part of a long-delayed reform to the country’s pension system that prompted labor unions to call for nationwide strikes next week. New legislation will require French citizens to work until 64, from 62