Money

By Jordan Valinsky, CNN Business New York (CNN) — Taylor Swift’s concert film hasn’t even been released yet and it’s already toppling box-office records. Cinemark, a theater chain with about 500 locations, said that ticket sales for “Taylor Swift: The Eras Tour” are “setting domestic presale records” with demand “10 times higher” than any other

By Krystal Hur, CNN New York (CNN) — The Dow fell sharply Tuesday morning, turning negative for the year, as US Treasury yields surged to their highest levels in over a decade. The Dow fell 364 points, or 1.1%, the benchmark S&P 500 declined 1.2% and the Nasdaq Composite lost 1.5%, extending the late summer

By Alicia Wallace, CNN Minneapolis (CNN) — The number of job openings at US employers unexpectedly surged in August, a testament to the continued strength of the labor market, according to new data released Tuesday by the Bureau of Labor Statistics. There were an estimated 9.61 million open jobs in August, according to seasonally adjusted

By Clare Duffy, CNN New York (CNN) — WeWork’s stock plunged more than 20% on Tuesday morning after the company said a day earlier that it would not make two sets of interest payments totaling more than $95 million. The move comes two months after WeWork said it had “substantial doubt” about its ability to

By Anna Cooban, CNN London (CNN) — There’s big money in trendy sandals. German shoemaker Birkenstock could be valued at up to $10 billion when it lists its shares on the stock market for the first time. The iconic footwear brand plans to sell shares for between $44 and $49 apiece when it debuts on

By Allison Morrow, CNN New York (CNN) — The trial of Sam Bankman-Fried, a onetime crypto billionaire who stands accused of orchestrating a multibillion-dollar fraud, kicked off Tuesday in federal court in Manhattan. The former crypto billionaire appeared in court in a suit and tie, his normally unkempt hair having recently been cut. Judge Lewis

By Danielle Wiener-Bronner, CNN New York (CNN) — Coffee is a finicky crop — arabica coffee, the most popular variety, in particular. And climate change poses a huge threat to the coffee business and to farmers. “To grow properly, coffee crops require specific temperature, light and humidity levels,” according to the Inter-American Development Bank, a

CNN By Anna Cooban, CNN London (CNN) — The head of the Organization of the Petroleum Exporting Countries — a group of the world’s major oil producers — told CNN Monday that a lack of investment in the oil industry posed a danger to global energy security and could send crude prices to $100 a

By Maxime Tamsett, CNN (CNN) — Florida’s minimum wage rose by one dollar Saturday to $12/hour. The increase is the result of a constitutional amendment approved by voters in 2020 to gradually raise the Sunshine state’s minimum wage to $15/hour by September 30, 2026. Florida’s minimum wage stood at $8.56/hour when voters approved the 2020

By Ramishah Maruf, CNN New York (CNN) — Fast food chains are implementing all sorts of changes to their drive-thrus, and it looks like it’s paying off for customers in line, according to a new report. Some of the leading fast food companies, such as Wendy’s, Chick-fil-A and Carl’s Jr. saw major reductions in their

By Matt Egan, CNN New York (CNN) — Corporate America is breathing a sigh of relief after lawmakers narrowly avoided a chaotic shutdown of the federal government. Business leaders and economists had warned a shutdown would have hurt the economy by causing vast uncertainty, significant disruptions and hurting confidence. “While brinksmanship is never the answer,

CNN By Matt Egan, CNN New York (CNN) — The long-delayed and highly controversial deal to bring Truth Social and the Trump media empire to Wall Street has a new twist – the merger could get terminated by either party. Under an updated merger agreement, both parties in the deal will have the opportunity to

By Matt Egan, CNN New York (CNN) — The long-delayed and highly controversial deal to bring Truth Social and the Trump media empire to Wall Street has a new twist – the merger could get terminated by either party. Under an updated merger agreement, both parties in the deal will have the opportunity to kill

By Samantha Murphy Kelly, CNN Business (CNN) — Apple is working on a software fix following reports that some of its new iPhone 15 models are overheating. The company told CNN the current overheating issues are not a safety risk and will not affect the long-term performance of impacted iPhone models. It also emphasized that

By Brian Fung, CNN (CNN) — Microsoft CEO Satya Nadella warned on Monday of a “nightmare” scenario for the internet if Google’s dominance in online search is allowed to continue, a situation, he said, that starts with searches on desktop and mobile but extends to the emerging battleground of artificial intelligence. Nadella testified on Monday

By Nicole Goodkind, CNN New York (CNN) — JPMorgan Chase CEO Jamie Dimon issued a stark warning Monday to Wall Street: The Federal Reserve may be far from finished with its aggressive regimen of interest rate hikes in the fight against elevated inflation. Most analysts say the central bank will raise interest rates just one