Money

By Sean Lyngaas, CNN (CNN) — Microsoft “accepts responsibility for each and every one” of the issues cited in a scathing US government-backed report on the tech giant’s cybersecurity failings, Microsoft President Brad Smith will tell US lawmakers Thursday, according to his prepared testimony. “We acknowledge that we can and must do better, and we

By Elisabeth Buchwald, CNN New York (CNN) — Americans and the Federal Reserve have another positive development to celebrate: More evidence that price pressures are fading. Wholesale inflation cooled significantly in May, with prices down 0.2% from April’s 0.5% increase, according to data the Bureau of Labor Statistics released Thursday. Economists polled by FactSet had

By Jeanne Sahadi, CNN New York (CNN) — Employees’ negative daily emotions and lack of well-being can ultimately hurt worker engagement – and the economy, according to a new report released this week. Gallup, in its “State of the Global Workplace,” estimates that low employee engagement costs the global economy $8.9 trillion, or 9% of

By Chris Isidore, CNN New York (CNN) — Tesla shareholders have re-approved a pay package for CEO Elon Musk worth billions that was already thrown out by a Delaware judge earlier this year in a vote that also approved moving Tesla to Texas. The two measures – Musk’s pay package from 2018 and moving the

CNN, TESLA By Chris Isidore, CNN New York (CNN) — Tesla shareholders have re-approved a pay package for CEO Elon Musk worth billions that was already thrown out by a Delaware judge earlier this year in a vote that also approved moving Tesla to Texas. The two measures – Musk’s pay package from 2018 and

By Natasha Chen, CNN (CNN) — In a development agreement unanimously approved Wednesday night, Disney promises to invest up to $17 billion in its Florida resort over the next 10 to 20 years and sets up the framework for potential theme park expansions. The 15-year agreement was negotiated as part of a settlement following a

By Ramishah Maruf, CNN New York (CNN) — World record holder Joey Chestnut may not be competing at Nathan’s Famous Fourth of July Hot Dog Eating Contest this year, but now fans will be able to watch Chestnut face off with his rival Takeru Kobayashi on Netflix on Labor Day. The two professional competitive eaters will

By Elisabeth Buchwald, CNN New York (CNN) — If you want to know how much a publicly traded company is worth at any given time, all you have to do is look up its market cap, which updates in real time during trading hours. But if you want to know how fast prices are rising

By Ramishah Maruf, CNN New York (CNN) — Sony Pictures Entertainment has bought dine-in movie theater chain Alamo Drafthouse, the companies announced Wednesday. Alamo Drafthouse, headquartered in Austin, Texas, has 35 theaters in 25 metro areas. It rose to popularity and has a passionate fanbase due to its dine-in and cocktail menus and its reputation

By Jeanne Sahadi, CNN New York (CNN) — Editor’s Note: This is an updated version of an article that originally ran on May 1. As was widely expected, the Federal Reserve left its benchmark interest rate unchanged for its seventh meeting in a row on Wednesday. People carrying variable-rate debt like credit cards and those

By Clare Duffy, CNN New York (CNN) — SpaceX and CEO Elon Musk were sued on Wednesday by former employees who claim they were illegally fired for raising concerns about gender discrimination and sexual harassment at the rocket company. The lawsuit, brought by eight employees who were fired in 2022, alleges that Musk wants to

By Danielle Wiener-Bronner, CNN New York (CNN) — Grocery prices stayed flat in May, after ticking down the month before. But menu prices, a source of frustration for budget-conscious consumers, are still going up — even as restaurants brag about their discounted meals. Menu prices rose 0.4% at sit-down restaurants from April to May, adjusted

By Brian Fung, CNN Washington (CNN) — TikTok may not be as hot a place for politics as many seem to think. The attention devoted to TikTok as a powerful force in US politics — for better or for worse — does not seem to match up with the experience of most TikTok users, according

By Anna Cooban, CNN London (CNN) — A looming glut in global oil supply could “upend” attempts by the Organization of the Petroleum Exporting Countries and its allies, or OPEC+, to prop up prices by cutting production, according to the International Energy Agency. The Paris-based IEA said Wednesday that it expects growth in global oil

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. Shari Redstone has finally spoken. After weeks of endless speculation about the future of Paramount Global, and more than half a year of grueling negotiations, the heiress

By Juliana Liu and Gawon Bae, CNN Hong Kong/Seoul (CNN) — Three varieties of “fire chicken” instant ramen noodles popularized by a viral internet challenge have been recalled in Denmark after they were deemed to be too spicy. The level of capsaicin found in Buldak Hot Chicken Ramen 3x Spicy, Buldak Hot Chicken Ramen 2x

By Diksha Madhok, CNN New Delhi (CNN) — A one-of-its-kind insurance policy has started making payouts to tens of thousands of women across India to help them cope with the impact of extreme heat. Fifty thousand women in 22 districts across the states of Rajasthan, Maharashtra and Gujarat received a $5 payments as temperatures topped

By Matt Egan, CNN New York (CNN) — Americans are fed up with massive CEO pay packages. More than 8 in 10 (83%) Americans say it’s important for businesses to avoid a major pay gap between CEOs and average employees, according to early findings from an upcoming Bentley University-Gallup poll shared exclusively with CNN. That

By Bryan Mena, CNN Washington (CNN) — The Federal Reserve said Wednesday it is keeping its benchmark lending rate at its current level for the seventh time in a row, while signaling fewer rate cuts than previously estimated. That means borrowing costs on everything from car loans to mortgage rates will remain elevated. Officials penciled in just