Money

By Lauren del Valle, CNN Business A federal bankruptcy judge ruled that Purdue Pharma, the maker of the addictive painkiller OxyContin, will be dissolved under a settlement deal and that its owners, members of the Sackler family, will pay out more than $4 billion to address the opioid epidemic that’s killed more than 500,000 Americans.

By Kerry Flynn, CNN Business Joe Rogan, one of the world’s highest paid and most influential podcast hosts, announced Wednesday he has tested positive for Covid-19 and said he’d embarked on a fringe treatment regime. In a video posted to his official Instagram account, Rogan said he felt “very weary” on Saturday and got tested

By Brian Stelter, CNN Business Every week we read a new story about a conservative media figure who downplayed Covid-19 or mocked the vaccines and wound up hospitalized or dead. Almost as often, we see sad new examples of overlapping misinformation. Here’s what I mean by “overlapping misinformation:” An attorney representing many high-profile suspects from

By Chris Isidore, CNN Business The power is off for nearly a million customers in Louisiana after a Category 4 storm slammed into the region. But that’s not the biggest problem facing the storm-ravaged state: It’s the possibility of perhaps hundreds of thousands of people going weeks, if not longer, before power is restored. Although

Opinion by Ann M. Ravel and Kristin Urquiza for CNN Business Perspectives In May 2020, months before a Covid-19 vaccine was available and just before Arizona’s infection rate soared, Governor Doug Ducey encouraged residents not to stay home. “I want to encourage people to get out and about,” Ducey told listeners of a popular radio

By Paul R. La Monica, CNN Business If you’re an investor who knows your market history, you might be tempted to tune out for a bit and start singing Green Day’s “Wake Me Up When September Ends.” The ninth month is traditionally the worst of the year for stocks. The market was up slightly Wednesday

By Matt Egan, CNN Business Widespread and growing gas station outages are being reported in New Orleans and Baton Rouge, adding to the misery facing Louisiana residents following Hurricane Ida. As of 7 am CT on Wednesday, more than half of the gas stations in Baton Rouge (52.7%) and New Orleans (52.3%) were without fuel,

By Brian Stelter, CNN Business Julie Pace, the political reporter turned Washington bureau chief at The Associated Press, is the news agency’s new executive editor. Pace, 39, is succeeding Sally Buzbee, who departed the AP last spring for The Washington Post. She is starting in the new role immediately. “We have great opportunities ahead to

By Amy Woodyatt, CNN Business UK media regulator Ofcom has cleared TV host Piers Morgan of breaching British broadcasting rules with his criticism of Meghan, Duchess of Sussex, rejecting more than 50,000 complaints from viewers. In a March 8 edition of ITV’s “Good Morning Britain” show, Morgan questioned whether Meghan was being truthful about having

By Chris Isidore and Nathaniel Meyersohn, CNN Business Walmart is looking to hire 20,000 workers for its distribution and fulfillment centers, trying to fill some of the most high-demand jobs in retail as the pandemic continues to disrupt the global supply chain. Walmart said the positions it is filling are permanent jobs — not just

By Julia Horowitz, CNN Business There are a number of reasons for global investors to be keeping close watch on China, from signs its economy is slowing to Beijing’s disruptive crackdown on private business. But the list doesn’t end there. What’s happening: Evergrande, one of China’s largest property developers, is in dire straits. It warned