Money

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. Kara Swisher is not shying away from her trademark tell-it-as-it-is MO. As existential questions confront both the tech and media industries, the

By Nathaniel Meyersohn, CNN New York (CNN) — Macy’s is getting a new, smaller, but more luxurious look designed to turn around the troubled retailer and keep the century-and-a-half old brand relevant to rapidly changing demands from shoppers. First, Macy’s will have to downsize. The company is closing 150 underperforming stores — 50 by the

By Bryan Mena, CNN Washington, DC (CNN) — The US economy is set to reap considerable benefits from Americans taking popular medications used for weight loss, including Ozempic and Wegovy, Goldman Sachs analysts wrote in a recent research report. Those drugs are part of a powerful new class of medications that has taken the world

By Chris Isidore and Tami Luhby, CNN New York (CNN) — Few states are as closely associated with a single industry as Michigan and autos. But auto jobs aren’t as dominant in the state as they once were, and Michigan – which holds its Republican and Democratic primaries on Tuesday – has lost many of

By Laura He, CNN Hong Kong (CNN) — Washington will allow Chinese airlines to further increase their direct passenger flights to the United States, as it takes another step in gradually restoring aviation services that had been affected by the Covid-19 pandemic and an air travel dispute between the two countries. From March 31, Chinese

By Jon Passantino, CNN (CNN) — Donald Trump has paid $392,000 to The New York Times to cover the legal costs from his failed lawsuit against the newspaper and its journalists over a 2018 investigation into his finances that included confidential tax records, a spokesman for the Times told CNN on Monday. Trump was ordered to pay the money in January, more than eight months after Judge Robert R. Reed granted the Times’

By Ramishah Maruf and Maria Sole Campinoti, CNN New York (CNN) — A man is suing Walt Disney Parks and Resorts and Raglan Road Irish Pub & Restaurant after his wife, a New York-based doctor, died suddenly after eating at the restaurant. The lawsuit alleges the waitstaff was negligent and was aware of his wife’s

By Samantha Delouya, CNN (CNN) — Netflix wants its customers to stop paying for its streaming subscription through Apple’s App Store. Members billed through Apple may soon be prompted to change their payment plan, a new addition to Netflix’s help site reads. According to a spokesperson for Netflix, if a new payment isn’t added by

By Chris Isidore, CNN New York (CNN) — Norfolk Southern CEO Alan Shaw received a 37% increase in compensation last year, even after the company’s railroad was involved in a financially and ecologically disastrous derailment in East Palestine, Ohio. Shaw received $13.4 million in total compensation in 2023, up from $9.8 million in 2022. His base salary

By Clare Duffy, CNN New York (CNN) — Reddit plans to take the unusual step of giving certain users the chance to become shareholders when it makes its initial public offering this year. The social media company announced the plan in its IPO filing last week and is now sharing more details about how users

CNN, SUPREME COURT By Brian Fung and John Fritze, CNN Washington (CNN) — The Supreme Court on Monday appeared to have deep concerns of state laws enacted in Florida and Texas that would prohibit social media platforms from throttling certain political viewpoints. The high-stakes battle gives the nation’s highest court an enormous say in how

By Peter Valdes-Dapena, CNN (CNN) — BYD is a Chinese carmaker that recently unseated Tesla as the world’s leading seller of electric vehicles. Its new all-electric Yangwang U9 has nearly 1,300 horsepower and is designed to compete directly with Lamborghini and Ferrari. The company says the Yangwang U9 has four electric motors and, with all-wheel-drive,

By Chris Isidore and Gregory Wallace, CNN (CNN) — The Federal Aviation Administration issued a report Monday sharply critical of the safety culture at Boeing, following two fatal crashes and several years of safety and quality issues at the troubled aircraft maker. Despite Boeing’s repreated claims of its commitment to safety procedures, the report by

By Eva Rothenberg and Sabrina Souza, CNN New York (CNN) — Students at the Albert Einstein College of Medicine in New York will receive free tuition after a $1 billion dollar donation from a former faculty member. Dr. Ruth Gottesman, 93, who spent 55 years as the chair of the school’s board, made the historic

By Nathaniel Meyersohn, CNN New York (CNN) — “Let them eat Corn Flakes” appears to be Kellogg’s CEO Gary Pilnick’s advice to cash-strapped shoppers who are spending the highest portion of their income on food than at any point in the last 30 years. In an interview with CNBC last week, WK Kellogg CEO Pilnick

By Krystal Hur, CNN New York (CNN) — A Texas man is facing insider trading charges and jail time after he used information gleaned from eavesdropping on his wife’s work-from-home calls, netting him $1.76 million from an upcoming oil industry acquisition. The Securities and Exchange Commission on February 22 charged Houston-based Tyler Loudon after he

By Eva Rothenberg, CNN New York (CNN) — Berkshire Hathaway neared a $1 trillion market valuation Monday after a record-breaking year, but CEO Warren Buffett warned in his annual letter to investors that more skyrocketing performances are likely a thing of the past. Berkshire Hathaway (BRK.B) saw its shares jump nearly 2%, to $429, on Monday

By Nathaniel Meyersohn, CNN New York (CNN) — The Federal Trade Commission on Monday sued to block the $25 billion deal between Kroger and Albertsons, alleging the largest supermarket merger in US history would lead to higher prices, store closures and job losses. The merger, announced in 2022, sought to combine the fifth and tenth

By Jordan Valinsky, CNN New York (CNN) — Fans of Outback Steakhouse may be surprised to see their local restaurant permanently closed after the chain’s parent company abruptly shut down dozens of locations around the US. Bloomin’ Brands revealed in an earnings call Friday that it closed 41 “underperforming locations” across the brands it owns,