Money

By Elisabeth Buchwald, CNN New York (CNN) — Shares of New York Community Bank (NYCB) fell 23% Monday, hitting their lowest level since 1996. The stock is struggling to recover after the beleaguered regional lender said in a filing last week it had identified “material weakness” in the company’s controls. The issues caused a $2.4

By Bryan Mena, CNN Washington, DC (CNN) — Cookie Monster has taken a stance on a very real and controversial trend in the US economy — and he hates it. The gluttonous blue Sesame Street character known for gorging on cookies expressed his dismay at “shrinkflation” Monday in a post on X. Cookie Monster is

By Ramishah Maruf, CNN New York (CNN) — “Dune: Part Two” raked in $82.5 million at the domestic box office on during its opening weekend, narrowly surpassing the opening weekend of the 2023 blockbuster film “Oppenheimer.” The two films came from different studios — “Dune: Part Two” is a Warner Bros. Pictures movie and shares

By Brian Fung and Clare Duffy, CNN New York (CNN) — A group of former Twitter executives sued Elon Musk on Monday in a bid to recover more than $128 million in severance that they allege Musk has not paid since he acquired the company, now called X, more than a year ago. The executives

By Pete Muntean, Gregory Wallace and Chris Isidore, CNN Washington DC (CNN) — The Federal Aviation Administration has found multiple problems with Boeing’s production practices following a six-week audit of Boeing triggered by the January 5 door plug blowout on an Alaska Airlines’ 737 Max 9. “The FAA identified non-compliance issues in Boeing’s manufacturing process

By Hanna Ziady, CNN London (CNN) — The Church of England has welcomed a report that calls for it to spearhead the establishment of a £1 billion ($1.3 billion) fund to address its historical ties to slavery. The document, released Monday, recommends that the church’s initial commitment of £100 million ($127 million) to the “Fund

By Chris Isidore, CNN New York (CNN) — JetBlue Airways announced Monday it is pulling out of its deal to purchase Spirit Airlines. The decision comes in the wake of a federal court ruling blocking the deal from taking place on antitrust grounds. The Justice Department had argued that airfares could go up if Spirit

By Nicole Goodkind, CNN New York (CNN) — A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. After decades of growth bolstered by low interest rates and

By Anna Cooban, CNN London (CNN) — The European Union has fined Apple €1.84 billion ($2 billion) for breaking its competition laws. The bloc announced Monday that it was imposing the fine on Apple (AAPL) — its first-ever antitrust penalty on the US tech giant — for preventing rival music streaming services such as Spotify

By Samantha Murphy Kelly, CNN (CNN) — Last month, news surfaced that major companies like Walmart, Starbucks, Delta and Chevron were using AI to monitor employee communications. The reaction online was swift, with employees and workplace advocates worrying about a loss of privacy. But experts say that while AI tools might be new, watching, reading

By Hanna Ziady, CNN London (CNN) — Damage to submarine cables in the Red Sea is disrupting telecommunications networks and forcing providers to reroute as much as a quarter of traffic between Asia, Europe and the Middle East, including internet traffic. Cables belonging to four major telecoms networks have been “cut” causing “significant” disruption to

By Laura He, CNN Hong Kong (CNN) — Asian markets have started the week on an upbeat note. Japan’s Nikkei 225 index jumped above 40,000 points for the first time on Monday, extending a historic rally that analysts say may have much further to run. The milestone comes just days after the stock market index

By Robert Ilich, CNN (CNN) — Chris Mortensen, an award-winning journalist and longtime NFL insider for ESPN, has died, the network announced. He was 72. Mortensen was a fixture on ESPN for three decades, appearing on “Sunday NFL Countdown,” an analyst for the NFL Draft and as a contributor on “SportsCenter.” “Mort was widely respected

By Eva Rothenberg, CNN (CNN) — OPEC+ member nations have agreed to extend their voluntary cuts to crude oil production through the second quarter, the group announced Sunday. The move is a part of the group’s perpetual balancing act to stabilize oil prices by reducing supply. OPEC+, a coalition of the world’s top oil producing

By Eva Rothenberg, CNN (CNN) — “Dune: Part Two,” the long-awaited sequel to one of the most popular science fiction adaptations in recent years, secured the No. 1 spot in its opening weekend with a strong $81.5 million in domestic sales, according to studio estimates. Globally, the film has grossed $178.5 million. “This is just

By Peter Valdes-Dapena, CNN (CNN) — Back in 2019, Elon Musk made an astonishing claim for Tesla vehicles. Tesla cars, he said, would go up in value, not down, after purchase. The reason for that is Tesla’s full self-driving capability that, Musk has said, requires only some additional software updates and regulatory approval before Tesla

By Eva Rothenberg, CNN New York (CNN) — General Motors is recalling nearly 820,000 pickup trucks over a potential safety issue involving tailgates. The automaker says that the electronic latch mechanism used to open the gate of some 2020-2024 Chevy Silverado and GMC Sierra truck beds might short circuit if water gets into the tailgate.

By Nathaniel Meyersohn, CNN New York (CNN) — A United Airlines round-trip ticket from Denver to Dallas in late March is advertised for $91. But checking one bag at the airport both ways will cost an extra $80 — nearly as much as the flight. Checked bag fees are hitting record highs as airlines up

By Peter Valdes-Dapena, CNN Conestoga, PA (CNN) — I drove out to Pennsylvania’s rural Amish country to see a man about a wagon. I was looking to nail down the answer to a question I’ve had since 2015 when I traveled to England on a work trip. Back when I was motoring through London, very

By Matt Egan, CNN New York (CNN) — The long-rumored recession has been postponed – or perhaps cancelled altogether. The soft-landing vibes are real. Inflation is cooling. The economy is growing at a shockingly strong pace. And unemployment hasn’t been this low for this long since the late 1960s. And yet, hidden behind these boomy-economic