CNN – Business/Consumer

By Hanna Ziady, CNN Business A deal to release the Ever Given could soon be reached, freeing the quarter-mile-long container ship and the hundreds of millions of dollars worth of cargo it was carrying when it blocked the Suez Canal three months ago. An Egyptian court seized the ship and its 18,300 containers, after the

By Jordan Valinsky, CNN Business Warren Buffett has resigned from his trustee position at the Bill and Melinda Gates Foundation, the 90-year-old investor announced Wednesday. In a statement, Buffett didn’t specify why he’s leaving the foundation, but noted he has already resigned from all corporate boards other than Berkshire Hathaway’s. Buffett added that the foundation’s

By Julia Horowitz, CNN Business Supply chain issues and other post-pandemic headaches can’t mask this reality: The global economic recovery is powering ahead. What’s happening: Business activity within the 19 countries that use the euro grew at the fastest rate in 15 years in June, according to the Purchasing Managers’ Index from IHS Markit, a

Brian Stelter speaks with WSJ reporter Elaine Yu about the recent arrests at Apple Daily, a pro-democracy newspaper in Hong Kong. Then he interviews Mark Simon, assistant to Apple Daily chairman Jimmy Lai, who is also behind bars. “Folks, if you don’t have a free press, you do not have a free society,” Simon says.

By Jenni Marsh, CNN Business One year was all it took for a Beijing-imposed National Security Law to take down Hong Kong’s largest and loudest pro-democracy newspaper. Next Media announced Wednesday that Apple Daily, its flagship tabloid, would publish its final copy Thursday due to an untenable environment in which its journalists had been arrested

By Michelle Toh, CNN Business Bitcoin returned above the $30,000 mark on Wednesday, highlighting the extreme volatility that has plagued cryptocurrencies in recent months. The digital currency has jumped 5.4% over the last 24 hours, reaching $34,368 per coin, according to CoinDesk. That’s a U-turn from Tuesday, which saw bitcoin plunge below $30,000 for the

By Hanna Ziady, CNN Business The United Kingdom has begun talks on joining a Pacific trade partnership that it sees as one of its biggest opportunities to forge economic alliances beyond Europe after Brexit. The UK Department for International Trade says membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership would produce an economic

By Paul R. La Monica, CNN Business Bitcoin prices are tumbling. And so are shares of top cryptocurrency trading firm Coinbase Global. Coinbase fell 5% Tuesday and is now trading at about $212 — not far from its all-time low and a far cry from its peak price of about $429.50. It’s been just two

Abigail Disney, the granddaughter of Roy Disney, explains how the tax system enables rich people to avoid paying income taxes. She tells CNN’s Brianna Keilar that the ethos of wealth needs to be questioned.

By Moira Ritter, CNN Business Abigail Disney has a lot to criticize about American billionaires — especially when they inherit a pile of cash and avoid paying income tax. She would know — she inherited a bunch of money from her family. She’s the granddaughter of Roy Disney, brother of Walt Disney. Two years ago,

By Jordan Valinsky, CNN Business McDonald’s will launch its first-ever nationwide loyalty program July 8. It’s aimed at expanding McDonald’s customer base and enticing existing patrons to be more loyal in the highly competitive world of fast food. The program, called MyMcDonald’s Rewards, is only available on its app and gives customers 100 points for

Steven Spielberg’s production company Amblin Partners signed a deal with Netflix to produce multiple new feature films per year. CNN’s Frank Pallotta reports.

By Julia Horowitz, CNN Business As the global recovery takes hold, governments around the world will be increasingly tempted to stop throwing so much cash at the economy. Investors could see that as a big mistake. What’s happening: President Joe Biden’s infrastructure proposal — part of $4 trillion in potential spending — is a priority

By Jordan Valinsky, CNN Business Paid time off, retirement benefits and … a Peloton membership? That could be your newest work perk as the fitness company rolls out a corporate program that offers free app memberships that normally cost $12.99 per month. Peloton Corporate Wellness is aimed at “providing employees access to innovative mental and

By Laura He, CNN Business Bitcoin tanked again on Tuesday and fell below $30,000 for the first time since late January as China escalated its crackdown on cryptocurrencies. China further curbed mining activity and told major payments platforms and lenders that crypto trading won’t be tolerated. Bitcoin plunged 12% over the past 24 hours. The

By Michelle Toh, CNN Business Bumble is giving its entire team a break. The dating app has shut down its offices around the world this week “as a way to thank our team for their hard work and resilience,” it said. Its staff of 700 worldwide have been granted the week of June 21 off,

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. New York City is about to become the largest American jurisdiction to implement ranked choice voting for an election. It’s complicated, it’s confusing, and it’s going to take a while

By Danielle Wiener-Bronner, CNN Business Smithfield Foods, one of the country’s top meat processors, has been sued by a consumer advocacy group, which alleges that Smithfield misled the public when it raised an alarm over possible meat shortages in spring 2020. Smithfield temporarily closed some of its facilities as workers got sick with Covid-19 early

By Alexis Benveniste and Fredreka Schouten, CNN The Limetree Bay oil refinery in St. Croix said it would close indefinitely, citing “severe financial constraints” a month after the Environmental Protection Agency ordered an emergency shutdown of the plant, calling it an “imminent and substantial endangerment” to public health on the island. The EPA, which has