Skip to Content

Money

A severe drought is affecting the Panama Canal. That’s not a good sign for supply chains — or your holiday shopping

By Alicia Wallace, CNN Minneapolis (CNN) — Panama is about halfway through its rainy season right now, and one of the wettest countries in the world is having one of its driest seasons on record. At the Panama Canal, where freshwater serves as the lifeblood for its lock-driven operations, the lack of abundant rainfall is

Continue Reading
People walk past a Wells Fargo branch on January 10

Wells Fargo overcharged nearly 11,000 investment accounts with advisory fees, SEC alleges

By Matt Egan, CNN New York (CNN) — For years, Wells Fargo overcharged almost 11,000 investment advisory accounts about $27 million in fees, federal regulators alleged on Friday. The Securities and Exchange Commission said Wells Fargo’s fees were excessive. Wells Fargo agreed to pay a $35 million civil penalty to settle the matter, without admitting

Continue Reading

A mariner accused of raping college student loses ability to work at sea, but escapes criminal charges

By Melanie Hicken and Blake Ellis (CNN) — In a high-profile case that rocked the commercial shipping industry, a sailor accused of raping a student from the US Merchant Marine Academy has agreed to surrender his credential to work on ships, but he will not be criminally prosecuted. Longtime merchant mariner Edgar Sison voluntarily surrendered

Continue Reading

Large US tech companies face new EU rules

By Brian Fung, CNN (CNN) — The world’s largest tech companies must comply with a sweeping new European law starting Friday that affects everything from social media moderation to targeted advertising and counterfeit goods in e-commerce — with possible ripple effects for the rest of the world. The unprecedented EU measures for online platforms will

Continue Reading

North Carolina Hooters sued for racial discrimination against employees

By Ramishah Maruf, CNN New York (CNN) — The US Equal Employment Opportunity Commission has sued a North Carolina Hooters restaurant for allegedly discriminating against Black or darker-skinned “Hooters Girls,” the federal agency announced Thursday. In March 2020, at the beginning of the Covid-19 pandemic, the Greensboro, North Carolina, Hooters temporarily laid off around 43

Continue Reading
Skip to content