Money

By Allison Morrow and Lucy Bayly, CNN New York (CNN) — Prosecutors grilled former crypto king Sam Bankman-Fried on Monday as his criminal fraud trial entered its third week. He stands accused of orchestrating a multibillion-dollar fraud in a seismic event that has left the industry reeling. While prosecutors have cast SBF as a Bernie

By Christopher Hickey and Will Mullery, CNN Americans can’t get enough of Halloween candy. Halloween candy sales grew 14% between 2021 and 2022 and this year is on track to be the same. In 2022, US consumers dropped more than $3.7 billion on candy during the six-week period before the holiday. Consumers favorite candy? Chocolate,

By Krystal Hur, CNN New York (CNN) — Stocks surged Monday as investors looked to the Federal Reserve’s next meeting and a slate of economic and corporate news due this week. The Dow jumped 511 points, or 1.6%. The S&P 500 added 1.2% and the Nasdaq Composite rose 1.2%. The S&P 500 index closed last

By Elisabeth Buchwald, CNN New York (CNN) — The US Treasury Department said it expects to borrow $776 billion in the final quarter of this year, the most the government has ever borrowed during a fourth quarter. The forecast is $76 billion less than the estimate Treasury made in August due to higher-than-anticipated tax collections

CNN By Matt Egan, CNN New York (CNN) — Leon Cooperman, the hedge fund billionaire who has famously clashed with Sen. Elizabeth Warren over her proposed wealth tax, is cautioning voters against returning Donald Trump to the White House. “It would be terrible for the country if Donald Trump were reelected,” Cooperman told CNN in

By Matt Egan, CNN New York (CNN) — Leon Cooperman, the hedge fund billionaire who has famously clashed with Sen. Elizabeth Warren over her proposed wealth tax, is cautioning voters against returning Donald Trump to the White House. “It would be terrible for the country if Donald Trump were reelected,” Cooperman told CNN in a

By Nicole Goodkind and Eva Rothenberg, CNN New York (CNN) — Employees at some of the largest drugstore chains in the United States staged a new series of walkouts across the country Monday to demand the companies fix what employees say are harsh working conditions that make it difficult for them to safely fill prescriptions,

By Samantha Murphy Kelly, CNN (CNN) — Instagram and Facebook users in Europe now have a choice to opt out of targeted ads if they pay for a monthly subscription. Parent company Meta (META) announced Monday that users in the European Union, as well as Iceland, Liechtenstein, Norway and Switzerland, could purchase a monthly plan

By Brian Fung, CNN Washington (CNN) — Google CEO Sundar Pichai took the stand Monday to defend the search giant in the largest tech antitrust trial since the Microsoft case of the 1990s, marking a climactic moment in the US government’s weeks-long effort to prove that Google has illegally monopolized the online search market. Pichai, whom Google

By Vanessa Yurkevich and Chris Isidore, CNN New York (CNN) — General Motors and the United Auto Workers union have come to a tentative agreement, the union and company announced Monday afternoon, just two days after the union expanded the strike at America’s largest automaker. The tentative deal could bring an end to the union’s

By Jordan Valinsky, CNN New York (CNN) — Southwest Airlines is bracing itself for a fine from the US government for last year’s operational meltdown over Christmas that canceled 16,700 flights and left two million passengers stranded. The carrier said that it “could be subject to fines and/or penalties resulting from investigations by the Department

By Matt Egan, CNN New York (CNN) — At a moment of elevated geopolitical danger, Treasury Secretary Janet Yellen plans to deliver a major speech on Thursday mapping out the Biden administration’s economic gameplan toward the increasingly volatile Indo-Pacific region, CNN has learned. The speech will mark the first time the Biden administration has outlined

By Jordan Valinsky, CNN New York (CNN) — Former NBA star and investor Magic Johnson is officially a billionaire, becoming the fourth athlete to earn that title, according to Forbes. Johnson, 64, is worth about $1.2 billion, the publication calculated, with most of his wealth stemming from his majority ownership of EquiTrust insurance company. It’s

By Danielle Wiener-Bronner, CNN New York (CNN) — Love it or hate it, candy corn season is upon us. Everyone has an opinion on candy corn: Some love the treat, either as a sugary indulgence or a marker of the fall season. Others wonder why you would waste your time on candy corn, which they

By Anna Cooban, CNN London (CNN) — Oil prices fell again Monday as concerns about the health of the global economy outweighed fears that Israel’s move on the weekend to expand its military operations in Gaza could lead to a regional conflict. Brent crude, the global oil benchmark, fell 1.6% to $89 a barrel, and

CNN By Anna Cooban, CNN London (CNN) — Oil prices fell again Monday as concerns about the health of the global economy outweighed fears that Israel’s move on the weekend to expand its military operations in Gaza could lead to a regional conflict. Brent crude, the global oil benchmark, fell 1.6% to $89 a barrel,

By Hanna Ziady, CNN London (CNN) — Output in Germany fell slightly in the third quarter, official data showed Monday, increasing the risk of a recession in Europe’s biggest economy. Gross domestic product dropped 0.1% in the July-to-September period compared with the previous quarter, when it grew 0.1%, according to Germany’s Federal Statistical Office (Destatis).

By Michelle Toh, CNN Hong Kong (CNN) — HSBC warned Monday that China’s property market has “potential for a further deterioration” as it reported profits that fell short of expectations, partly because of a $500 million charge to cover potential losses on commercial real estate loans. Third quarter pre-tax profit at Europe’s biggest bank more

By Samantha Murphy Kelly, CNN (CNN) — Apple is set to host its second product event of the season, a month after introducing its new iPhone 15 lineup. The event, which is online-only, will kick off on Monday at 8:00 p.m. ET/5:00 p.m. PT, an unusually late start-time for Apple keynotes. Some analysts said the

By Elisabeth Buchwald, CNN New York (CNN) — If you want to aggravate the US bond market, just remind traders how high the nation’s budget deficit is. The latest tally from the Treasury Department for the fiscal year that ended September 30 put the deficit at $1.7 trillion. But it’s effectively even higher — around