By Jeanne Sahadi, CNN Business If you use payment apps like Venmo, PayPal or CashApp, the new year ushered in a change to an IRS tax reporting rule that could apply to some of your transactions. The new rule, which took effect January 1, doesn’t impose any additional taxes on payment app users. But it
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By Anneken Tappe, CNN Business On a wild day on Wall Street, stocks ended the day higher with a stunning turnaround just before the closing bell. Stocks began the day with a dramatic selloff. US stocks opened in the red as investors worried about the Federal Reserve’s plans to hike interest rates, tensions in Ukraine,
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By Chris Boyette, CNN A Connecticut man has been arrested and lost his job after video surfaced of him yelling at employees of a smoothie shop Saturday, where he claimed his son received a drink with peanut butter, causing a severe allergic reaction sending him to the hospital. According to Fairfield Police, James Iannazzo picked
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By Reuters, Sonia Moghe and An Phung A judge on Monday delayed Sarah Palin’s defamation trial against The New York Times by 10 days to February 3, after the 2008 Republican U.S. vice presidential candidate and former Alaska governor tested positive for the coronavirus. The delay was announced by U.S. District Judge Jed Rakoff in
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Opinion by Mark Zandi for CNN Business Perspectives The pandemic continues to call the shots for the economy. Each wave of the virus has done significant damage, with Omicron now hitting the economy hard. December retail sales slumped as households pulled back on spending, including travel, dining out at restaurants and attending Broadway shows. The
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By Samantha Murphy Kelly, CNN Business Many mobile device users in the United States now have access to blazing-fast internet speeds stemming from the rollout of Verizon and AT&T’s new C-band 5G networks earlier this week. While telecom companies have rolled out 5G networks to various locations across the country over the last few years,
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By Peter Valdes-Dapena, CNN Business If you want a Ford Maverick pickup but haven’t placed an order already yet, time’s running out. On Thursday, Ford will stop accepting any new retail orders for the 2022 model year Maverick, company spokesman Michael Levine said in an email. After that, buyers will have to wait until order
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By Julia Horowitz, CNN Business Uncertainty around the Federal Reserve’s plans just drove Wall Street to its worst week since the start of the pandemic. But it’s not the only reason traders are jittery. Investors are starting to tune in to the situation in Ukraine as fears grow that Russian President Vladimir Putin, who has
Continue Reading By Julia Horowitz, CNN Business Uncertainty around the Federal Reserve’s plans just drove Wall Street to its worst week since the start of the pandemic. But it’s not the only reason traders are jittery. Investors are starting to tune in to the situation in Ukraine as fears grow that Russian President Vladimir Putin, who has
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By Jordan Valinsky, CNN Business The knives are out for Peloton and CEO John Foley. Blackwells Capital, an activist investor that owns less than 5% of Peloton, says it has “grave concerns” about its performance and is calling on its board of directors to fire Foley immediately and explore a sale. In an open letter
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By Jordan Valinsky, CNN Business Krispy Kreme is giving away free doughnuts to help combat a nationwide blood shortage. This week, the chain will give away a dozen original glazed doughnuts to people that donated blood to the American Red Cross. The promotion comes after the organization recently announced that it’s dealing with the worst
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By Peter Valdes-Dapena, CNN Business Ford just unveiled the Bronco Raptor, a high-performance version of its off-road Jeep Wrangler competitor. Based on desert racing trucks, this version has more power, bigger tires and taller suspension than a standard Bronco’s for bounding across sand dunes at “highway speeds,” according to Ford. The Bronco Raptor is powered
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By Angus Watson, Jill Disis and Yong Xiong, CNN Business Australia has accused WeChat of taking down Prime Minister Scott Morrison’s account and redirecting his followers to a site that claims to provide information for Chinese Australians. The removal of the account was first confirmed Monday by James Paterson, chairman of Australia’s Parliamentary Joint Committee
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By Greg Wallace and Pete Muntean, CNN Business Washington is suspending more than three dozen flights from Chinese carriers over the next couple of months, the latest escalation in a spat over pandemic-related travel rules between the United States and China. On Friday, the US Transportation Department said it would suspend 44 China-bound flights operated
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By Ramishah Maruf, CNN Business It’s been a rough few weeks for Peloton. And to round it off, another TV show character experienced a heart attack on the interactive bike — this time (spoiler alert) it’s Mike Wagner (David Costabile) on the season 6 premiere of Showtime’s “Billions.” Last month, Peloton saw an 11% stock
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By Ramishah Maruf, CNN Business Former NBC sportscaster Bob Costas, who has covered 12 Olympic Games as a host and commentator, did not hold back when discussing the challenges journalists will face during the Beijing Winter Olympics next month. “The IOC deserves all of the disdain and disgust that comes their way for going back
Continue Reading By Ramishah Maruf, CNN Business Former NBC sportscaster Bob Costas, who has covered 12 Olympic Games as a host and commentator, did not hold back when discussing the challenges journalists will face during the Beijing Winter Olympics next month. “The IOC deserves all of the disdain and disgust that comes their way for going back
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By Chris Isidore, CNN Business As if consumers weren’t being squeezed enough by rising prices for a wide range of goods, this month’s blast of winter weather will mean that many Americans could face record high heating costs this year. Cold weather, ice and snow have blanketed much of the United States in recent days
Continue Reading By Chris Isidore, CNN Business As if consumers weren’t being squeezed enough by rising prices for a wide range of goods, this month’s blast of winter weather will mean that many Americans could face record high heating costs this year. Cold weather, ice and snow have blanketed much of the United States in recent days
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By Claudia Dominguez and Alaa Elassar, CNN SpaceX’s unmanned Dragon cargo ship successfully undocked from the International Space Station (ISS) Sunday morning and is making its return to Earth. The CRS-24 cargo ship successfully exited the Space Station’s “keep out sphere” at 10:40 a.m. after a previously scheduled attempt was postponed due to bad weather
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