Money

By Diksha Madhok, CNN Business Bitfront, a crypto exchange backed by Japanese social media app Line, is shutting down after failing to overcome turmoil in the industry. The announcement by the US-based exchange comes at a time when the market for digital assets is grappling with financial contagion unleashed by the spectacular collapse of another

By Melissa Alonso and Zoe Sottile, CNN The label on a cup of Velveeta’s microwaveable mac and cheese says the meal only takes three and a half minutes to prepare. But a Florida woman says this is false — and she’s suing the manufacturer for $5 million. Amanda Ramirez, of Hialeah, has filed a proposed

By Ramishah Maruf, CNN Business Billionaire investor Leon Black has been sued by a woman alleging he “brutal[ly]” raped her at Jeffrey Epstein’s Manhattan townhouse in spring 2002. Cheri Pierson names both Black — the co-founder and former CEO of private equity behemoth Apollo Global Management — and the estate of the late Epstein as

By Paul R. La Monica, CNN Business Most of 2022 has been pretty dismal for investors, and Monday was no exception: The Dow fell about 500 points, or 1.5%, Monday. Still, the stock market remains in the midst of one heck of a fourth-quarter rally. The Dow enjoyed its best month in nearly a half-century

By Matt Egan More than 400 business groups are calling on Congressional leaders to be prepared to prevent a freight rail strike that could start causing chaos in the economy as early as next week. “No one wins when the railroads stop running,” the business groups led by the Chamber of Commerce wrote in a

By Jeanne Sahadi, CNN Business US life insurers paid out a record $100 billion in benefits in 2021, according to new data released Monday by the American Council of Life Insurers. That’s a nearly 11% jump from 2020, which represented the largest year-over-year increase (15.4%) since the 1918 influenza pandemic. “For the second year in

By Frank Pallotta, CNN Business Bob Iger was back at Disney headquarters on Monday to meet with employees for the first time since surprising the media world by returning as the company’s CEO last week. Iger discussed multiple issues facing the company including Disney’s current hiring freeze and what he plans to focus on when

By Chris Isidore, CNN Business Sunday marked the busiest day at US airports since the start of the pandemic — and though bad weather caused widespread flight delays, relatively few flights were canceled outright. About 2.6 million people were screened at Transportation Security Administration checkpoints Sunday. That’s the most since December 26, 2019, just a