Money

By Jordan Valinsky, CNN New York (CNN) — Chi-Chi’s, the Mexican restaurant chain that closed 20 years ago, is staging a comeback. Hormel Foods, current owner of the Chi-Chi’s trademark, announced Tuesday it’s letting Michael McDermott, son of the chain’s co-founder, use the fabled name to reopen restaurants in 2025. Specific locations, menu items and

By Ramishah Maruf, CNN New York (CNN) — Intel may have ousted CEO Pat Gelsinger, but he’s leaving the company with a significant payday. He’s set to receive 18 months of his base annual salary of $1.25 million, according to a filing with the Securities and Exchange Commission. He will also receive 1.5 times his

By Chris Isidore, CNN New York (CNN) — Elon Musk isn’t getting the $101 billion windfall he so desperately wanted. But he’s still among the richest people on the planet and poised to get much richer in the coming years. Delaware Chancery Court Chancellor Kathaleen McCormick again threw out a 2018 pay package from Tesla

By Matt Egan, CNN New York (CNN) — The owner of “woke-free” online marketplace PublicSquare exploded in value on Tuesday on news that Donald Trump Jr. is joining the tiny company’s board of directors. Michael Seifert, the founder and CEO of PublicSquare’s parent company, PSQ Holdings, confirmed the arrival of Trump Jr. on the board

By Brian Stelter, CNN New York (CNN) — What’s a media outlet supposed to do when its longtime host is picked to run the Pentagon, and then a series of eyebrow-raising news stories trigger doubts about his appointment? If you’re Fox News, evidently, you just pretend the stories don’t exist. Fox News, which employed Pete

By Jordan Valinsky, CNN New York (CNN) — Your next visit to a Pizza Hut might remind you of Chipotle. The chain on Tuesday unveiled a new design concept that features a pizza-making station at the center of the restaurant, allowing customers to see employees make their orders. It’s part of broader changes Pizza Hut

By Matt Egan, CNN New York (CNN) — President-elect Donald Trump has promised to expel millions of undocumented people as part of the biggest deportation program in American history. But Wall Street doesn’t believe the looming immigration crackdown will live up to Trump’s campaign trail hype. Although investors expect immigration will slow significantly during Trump’s

By Juliana Liu, CNN (CNN) — President-elect Donald Trump has again indicated that he intends to block a Japanese firm’s $15 billion takeover bid of US Steel upon taking office, saying the former American giant can eventually stand on its own. “Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong

By Juliana Liu and Sean Lyngaas, CNN Hong Kong/Washington (CNN) — The Chinese government has slammed America’s introduction of fresh export controls on US-made semiconductors that Washington fears Beijing could use to make the next generation of weapons and artificial intelligence (AI) systems. The new measures, unveiled by the outgoing Biden administration, have raised the

By Samantha Delouya, CNN (CNN) — Elon Musk’s record-breaking pay package for serving as Tesla’s CEO was rejected by a Delaware court, despite being approved by Tesla shareholders at a June meeting. The pay package, now worth around $101 billion based on Tesla’s closing share price Monday, is made up of 303 million Tesla stock

By Ramishah Maruf, CNN New York (CNN) — Cargill, the megasized Minnesota-based food production giant, is laying off about 5% of its global workforce as food commodity prices drop. Cargill is America’s largest privately held company, according to Forbes, and is also the world’s largest agricultural commodities trader. In a statement to CNN on Monday,

By Allison Morrow, CNN New York (CNN) — It’s the comeback story no one asked for — the resurrection of a brand so toxic it remains synonymous with corporate fraud more than two decades after it collapsed in bankruptcy. That’s right, folks: Enron is back. But only kind of. TL;DR: A company that makes T-shirts

By Anna Cooban, CNN London (CNN) — Sex workers in Belgium are now entitled to formal employment contracts, which include sick pay and maternity leave, under a landmark law that went into effect Sunday. Under the law, which Belgian lawmakers passed in May, sex workers signing such a contract also become entitled to a raft

By Clare Duffy and David Goldman, CNN (CNN) — Intel Monday announced CEO Pat Gelsinger has resigned after a difficult stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed by most of its rivals. Gelsinger took over as Intel’s chief executive in February 2021, returning to

By Jordan Valinsky, CNN New York (CNN) — Stoli Group USA, the owner of the namesake vodka, has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack that has snarled its operations and several years of fighting Russia in court. The company in its bankruptcy filing said it

By Elisabeth Buchwald, CNN New York (CNN) — During this busy holiday shopping season, some bargain hunters may be wondering if this is the ideal time to stock up on items before they could cost a lot more. That’s because there are only months left before President-elect Donald Trump gets back in the White House,