Money

By Olesya Dmitracova, CNN (CNN) — Moody’s has put the credit ratings of six large US banks, including Bank of New York Mellon, State Street and Northern Trust, under review for a possible downgrade, sending stocks tumbling as investors worried about more banking sector pain ahead. The credit ratings agency said late Monday that its

By Samantha Murphy Kelly, CNN (CNN) — Jamie Thompkins works full-time as an events manager in Oklahoma City, Oklahoma, but stays up well past midnight to work on her budding side hustle: making friendship bracelets for Taylor Swift concert goers. The 46-year-old mother said she sold over 5,000 Taylor Swift-themed friendship bracelets on her Etsy

By Jordan Valinsky, CNN New York (CNN) — Thousands of flights have been delayed or canceled Tuesday following a round of severe storms that hammered the eastern United Sates. More than 350 flights were canceled Tuesday, with another 2,200 delayed, according to data from FlightAware. It’s a significant improvement from Monday when 8,200 flights were

By Bryan Mena, CNN Washington, DC (CNN) — US small businesses are noticing slightly better business conditions and are feeling less pessimistic about the economy’s future, but they’re still gloomy when it comes to hiring, according to a survey released Tuesday by the National Federation of Independent Business. As inflation continued to slow last month,

By Laura He, CNN Hong Kong (CNN) — China’s exports suffered their biggest drop in more than three years in July as global demand slowed, adding further pressure on Beijing to find ways to reinvigorate the world’s second largest economy. The value of exports, measured in US dollars, fell 14.5% last month from a year

By Michelle Toh, CNN Hong Kong (CNN) — A top executive at HSBC has apologized after reportedly calling the UK government “weak” for caving to US pressure over doing business with China, in another sign of the political tightrope the British bank has to walk. Sherard Cowper-Coles, HSBC’s head of public affairs, inadvertently caused a

CNN By Eva Rothenberg, CNN (CNN) — Some might say Weird Barbies are made, not sold. Mattel, however, begs to differ. The toy company behind the iconic Barbie brand has announced a signature doll modeled after Kate McKinnon’s character from Greta Gerwig’s blockbuster “Barbie.” In the movie, McKinnon’s character helps send Margot Robbie’s Barbie on

By Eva Rothenberg, CNN (CNN) — Some might say Weird Barbies are made, not sold. Mattel, however, begs to differ. The toy company behind the iconic Barbie brand has announced a signature doll modeled after Kate McKinnon’s character from Greta Gerwig’s blockbuster “Barbie.” In the movie, McKinnon’s character helps send Margot Robbie’s Barbie on her

By Ramishah Maruf, CNN New York (CNN) — Troubled plant-based meat company Beyond Meat (BYND) posted a 30% revenue decline in the second quarter due to falling demand for its products, the company announced Monday. Beyond Meat president and CEO Ethan Brown said in a statement that the company is reducing its revenue outlook to

By Eva Rothenberg, CNN New York (CNN) — Iconic canned soup company Campbell is expanding its reach in the Italian food market. Campbell (CPB) announced Monday that it would acquire Sovos Brands, maker of the popular Italian food brands like Rao’s sauces and Michael Angelo’s frozen entrees, as well as noosa yogurt, in a deal

CNN By Samantha Delouya, CNN (CNN) — Over 11,000 Los Angeles city workers are planning to strike on Tuesday, according to the union that represents many of the city’s public-sector staff. City employees represented by SEIU Local 721, including those working in the sanitation department, at the city’s port and at Los Angeles International Airport,

By Samantha Delouya, CNN (CNN) — Over 11,000 Los Angeles city workers are planning to strike on Tuesday, according to the union that represents many of the city’s public-sector staff. City employees represented by SEIU Local 721, including those working in the sanitation department, at the city’s port and at Los Angeles International Airport, will

By Ramishah Maruf, CNN New York (CNN) — Paramount has agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash, after more than three years of trying to offload the book publishing powerhouse. Bob Bakish, president and CEO of Paramount Global, said Simon & Schuster is a “fantastic asset”

By Gregory Wallace and Eva Rothenberg (CNN) — More than 9,000 flights have been impacted by the severe summer storms that are pounding the eastern United States. Over 8,200 flights were delayed in the US on Monday, according to data from FlightAware, and more than 1,600 US flights were cancelled. Delta Airlines had around 400

By Allison Morrow, CNN New York (CNN) — PayPal is rolling out its first stablecoin as it attempts to capitalize on the “emerging potential” of US dollar-backed digital tokens for consumer payments. The stablecoin, PayPal USD, is fully backed by the US dollar and is “designed to reduce friction” for payments within virtual spaces and

By Danielle Wiener-Bronner, CNN New York (CNN) — Chicken prices are down. That’s good news for chicken eaters, but bad news for Tyson Foods. The meat processor, which supplies about a fifth of the beef, pork and chicken in the United States, said Monday that it is shutting down four chicken plants -— two in

By Jennifer Korn New York (CNN) — Google is moving ahead with its plan to delete accounts that have been inactive for at least two years. Accounts won’t be deleted until December 1, but Google (GOOG) will start sending warnings to affected users. The company will send multiple warning notifications to impacted Google (GOOG) accounts

By Matt Egan, CNN New York (CNN) — A senior official at the Federal Reserve is pushing back against growing hopes on Wall Street that the central bank could be nearly done raising interest rates. In a pair of speeches on Saturday and on Monday, Fed Governor Michelle Bowman warned that multiple rate hikes could