Money

By Jordan Valinsky, CNN New York (CNN) — Macy’s is closing several dozen stores as part of a previously announced turnaround plan to save the beleaguered retailer. Last year, Macy’s announced it was closing 150 underperforming stores by 2026, shrinking its footprint to about 350 locations when the plan is finished. The 66 store closings

By Clare Duffy, CNN New York (CNN) — Joanne Molinaro’s life changed when she found TikTok. She had clawed all the way up to being a partner at a big Chicago law firm after more than a decade of working in corporate litigation. And it nearly crushed her. “I was thinking to myself … lucky

By Jordan Valinsky, CNN New York (CNN) — It’s not just McDonald’s that is giving its menu a budget-friendly makeover. Other chains have also recently rolled out discounts, signaling that the fast food value meal wars are from over. Dunkin’, KFC, Subway, Taco Bell and Wendy’s have all debuted new promotions this month, continuing last

By Alicia Wallace, CNN (CNN) — The US economy closed out 2024 with another month of massive job growth, adding 256,000 positions in December. The unemployment rate dipped to 4.1% from 4.2%, wrapping up a year that marked a return to pre-pandemic norms, according to Bureau of Labor Statistics data released Friday. While the final

By Marshall Cohen, CNN Washington (CNN) — A New York appeals court ruled Thursday that Fox Corporation must face Smartmatic’s mammoth defamation lawsuit over the airing of 2020 election lies on Fox News, dealing a blow to the Rupert Murdoch-controlled media giant. Smartmatic, the voting technology company that Fox News guests and hosts falsely accused

By Matt Egan, CNN New York (CNN) — President-elect Donald Trump’s quest to buy Greenland from Denmark could make Ozempic and Wegovy, the weight-loss and diabetes drugs exploding in popularity, even more expensive for Americans. Trump has cranked up the pressure on Danish officials to sell the strategically important North American island, turning to his

By Clare Duffy, CNN New York (CNN) — A group formed by billionaire entrepreneur and former Los Angeles Dodgers owner Frank McCourt has made a formal offer to buy TikTok from its China-based parent company, ByteDance. The group, which calls itself The People’s Bid for TikTok and is also backed by “Shark Tank”-famous investor Kevin

By Chris Isidore, CNN New York (CNN) — Lynne Levin-Guzman stood in the front yard of her 90-year-old parents’ home in Los Angeles County, California, trying to protect it with a garden hose — because their insurance company no longer would. “I know I’m not supposed to be here, but this is my parents’ home

CNN By Chris Isidore, CNN New York (CNN) — Lynne Levin-Guzman stood in the front yard of her 90-year-old parents’ home in Los Angeles County, California, trying to protect it with a garden hose — because their insurance company no longer would. “I know I’m not supposed to be here, but this is my parents’

By Alicia Wallace, CNN (CNN) — In 2024, job growth continued to cool off, settling back into a familiar gait that was roughly in line with the pace of job creation in 2010-2019. Through November, the US economy added about 180,000 jobs per month. The unemployment rate bumped higher but stayed near historic lows. Those

By Jordan Valinsky, CNN New York (CNN) — JCPenney is merging with a company that owns a number of other once-bankrupt clothing stores, including Forever 21 and Brooks Brothers, to form a new company that will hold significant sway over the future of America’s malls. The 123-year-old department store chain anchors the new company —

By Ramishah Maruf, CNN New York (CNN) — OpenAI co-founder and CEO Sam Altman denied allegations made by his sister in a lawsuit filed Monday, which claimed he sexually abused her for almost a decade. The lawsuit, filed in federal court in Missouri, accuses him of sexual assault and sexual battery spanning from 1997 to

CNN By Brian Stelter and Liam Reilly, CNN New York (CNN) — Meta’s surprise decision to scrap its fact-checking partnerships – blindsiding journalists involved in the program and putting some out of work – is part of a much bigger shift in media and politics. The very notion of fact-checking is under assault by a

By Jordan Valinsky, CNN New York (CNN) — The former chief executive of MoviePass’ parent company has pleaded guilty to charges of securities fraud and conspiracy and could face up to 25 years in prison. Theodore Farnsworth “engaged in schemes to defraud investors,” the US Department of Justice said in a statement Tuesday, while he

By Ramishah Maruf, CNN New York (CNN) — The US will honor the late former President Jimmy Carter, who died at age 100 on December 29. President Joe Biden declared January 9 as a day of mourning in an executive order – the same day as the official state funeral at the Washington National Cathedral.

By Brian Stelter and Liam Reilly, CNN New York (CNN) — Meta’s surprise decision to scrap its fact-checking partnerships – blindsiding journalists involved in the program and putting some out of work – is part of a much bigger shift in media and politics. The very notion of fact-checking is under assault by a wide

By Hadas Gold, CNN New York (CNN) — President-elect Donald Trump’s team was given the questions asked by Fox News anchors at an Iowa town hall last January in advance by someone inside the network, according to a forthcoming book, in what would be a serious breach of journalism ethics. The report, which Fox said

By Olesya Dmitracova, CNN London (CNN) — Artificial intelligence is coming for your job: 41% of employers intend to downsize their workforce as AI automates certain tasks, a World Economic Forum survey showed Wednesday. Out of hundreds of large companies surveyed around the world, 77% also said they were planning to reskill and upskill their

By Tami Luhby, CNN (CNN) — Obamacare coverage has exploded in popularity during President Joe Biden’s term, fueled by more generous federal subsidies, heightened outreach and an easier enrollment process. Nearly 24 million people have signed up for Affordable Care Act plans for 2025 so far, and more are expected to choose policies before open

By Kayla Tausche, CNN (CNN) — President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a large swath of universal tariffs on allies and adversaries, four sources familiar with the matter told CNN, as Trump seeks to reset the global balance of trade in his second term. The declaration