Money

By Pete Muntean, CNN Business Southwest Airlines CEO Gary Kelly, who testified unmasked at a Senate hearing on Wednesday, has since tested positive for the coronavirus, the airline said in a statement. “Although testing negative multiple times prior to the Senate Commerce Committee Hearing, Gary tested positive for COVID-19 after returning home, experiencing mild symptoms,

By Kara Scannell Two staffers with Forbes magazine testified before the grand jury investigating the Trump Organization on Thursday as investigators focus on former President Donald Trump’s statements about his net worth. Randall Lane, chief content officer and editor at Forbes, wrote in an article published Friday that he and a colleague Chase Peterson-Withorn were

By Frank Pallotta, CNN Business “Everybody loves a hero.” The immortal words of Aunt May from 2004’s “Spider-Man 2” ring truer than ever this weekend as audiences, Hollywood and especially theaters await the biggest film of the year. “Spider-Man: No Way Home,” the latest Spider-Man adventure from Sony and Marvel, opens this weekend, and is

By Paul R. La Monica, CNN Business Wall Street is getting nervous about what will happen to the economy next year. The big concern is whether inflation will run too hot, forcing the Federal Reserve to step in with more rate hikes to stop rising prices in their tracks. The Dow fell more than 530

By Anneken Tappe, CNN Business Volatility is back on Wall Street: Stocks fell as central banks around the world turn more hawkish and worries about the omicron variant increase ahead of the holidays. US stocks mostly added onto their losses from the prior session, with the Dow falling as much as more than 600 points

By Walé Azeez, CNN Business A billionaire British aristocrat is taking the publisher of the Daily Mail and Mail Online private after agreeing to buy out minority shareholders in a deal valuing the company at £885 million ($1.2 billion). Lord Rothermere, whose great grandfather founded the newspaper empire in 1896, announced the buyout bid for

By Chris Isidore, CNN Business The nation’s labor shortage just cost FedEx $470 million in its most recent quarter. But its executives believe the hiring situation is going to get better soon. Although FedEx’s revenue was up nearly $3 billion to $23.5 billion in the quarter ended November 30, its adjusted income was essentially unchanged.

By Matt Egan, CNN Business Consumer prices are already rising at the fastest pace in nearly 40 years. Inflation may get worse before it gets better and that would further erode support for President Joe Biden’s Build Back Better legislation, Goldman Sachs says. The Wall Street bank told clients Thursday that the chances Biden’s signature

By Julia Horowitz, CNN Business As the Omicron variant sweeps through the United Kingdom, pushing daily coronavirus infections to their highest level on record, British businesses are shutting their doors again — but not because of government instructions. Restaurants and other venues are instead deciding they have no choice but to close early for Christmas

By Diksha Madhok, CNN Business A Chinese property developer that was once one of the country’s largest says it has lost contact with a wealth manager that it gave $313 million. It’s just the latest blow to China’s embattled real estate sector. China Fortune Land Development said in a stock exchange filing on Thursday that