Money

By Ramishah Maruf, CNN New York (CNN) — MOD Pizza, the fast-casual chain where diners can customize individual pizza pies, announced a new owner Wednesday in a move that could prevent or delay a bankruptcy filing. Elite Restaurant Group has acquired MOD, though terms of the deal were not disclosed and little information about the

By Samantha Delouya and Allison Morrow, CNN (CNN) — Bill Hwang, founder of Archegos Capital Management, was found guilty of fraud Wednesday by a Manhattan federal court after the 2021 collapse of his investment firm wiped billions of dollars off financial markets and nearly brought down Wall Street. The jury delivered a speedy conviction, finding

By Elisabeth Buchwald, CNN New York (CNN) — It’s soon going to cost more money to get your foot in the door at Costco. But the good news is your hot dog is still $1.50 — for now at least. The retailer is raising membership fees by $5 to $65 a year in the US

By Hadas Gold, CNN (CNN) — President Joe Biden will sit down with NBC Nightly News anchor Lester Holt for an interview that will tape and air next Monday, the network announced. The interview will take place in Austin, Texas and will air unedited in its entirety as part of a primetime special and on NBC’s

Reuters (CNN) — Elon Musk won dismissal of a lawsuit claiming he refused to pay at least $500 million of severance to thousands of Twitter employees he fired in mass layoffs after buying the social media company now known as X. U.S. District Judge Trina Thompson in San Francisco ruled on Tuesday that the federal Employee Retirement

By Jordan Valinsky and Celina Tebor, CNN New York (CNN) — New York University has settled a federal lawsuit with students over antisemitism on campus for a confidential amount, the university said in a statement Tuesday. The settlement brings to an end a lawsuit filed in November 2023 from three Jewish students over NYU’s alleged

By Oliver Darcy, CNN New York (CNN) — Ingrid Ciprián-Matthews, a three-decade veteran of CBS News who ascended to the role of president in 2023, abruptly announced Wednesday that she will step down from her role as the news organization’s parent company prepares for a complex merger. “No journalist wants to ‘be’ the news, especially

By Erika Tulfo, CNN (CNN) — Target will stop accepting personal checks from customers starting July 15, the latest retailer to stop taking the increasingly rare form of payment and to try to make checkout less cumbersome for shoppers. The company cited “extremely low volumes” of checks in a statement to CNN. “It’s hardly surprising

By Samantha Murphy Kelly, CNN (CNN) — Samsung’s latest generation of foldable phones aim to draw in traditional phone users with the help of artificial intelligence. At its annual Unpacked event on Wednesday, held in Paris for the first time, the company announced updates to its foldable devices and earbuds, and shared more details about

By Jordan Valinsky, CNN New York (CNN) — Starbucks is hoping to attract customers with a little gift: a free reusable straw. On Wednesday, anyone who buys a cold handcrafted drink, like an iced coffee or its new energy drinks, of any size will get a free, brightly colored reusable straw. The giveaway is part

By Oliver Darcy, CNN (CNN) — Mark Thompson, the CNN chief executive appointed last year to modernize the news network, unveiled a set of sweeping changes to the iconic outlet Wednesday, announcing plans to build a billion-dollar digital business, experiment with artificial intelligence and overhaul key newsroom structures. The far-reaching measures, which Thompson described to

By Laura He, CNN Hong Kong (CNN) — The Chinese government said Wednesday that it would investigate whether the European Union’s probes into Chinese companies constitute “trade barriers.” Concerns are rising in the West that jobs and strategically important industries could be wiped out by cheap Chinese imports propped up by government subsidies. Earlier this

By Reuters (CNN) — Microsoft has ditched the board observer seat at OpenAI that has drawn regulatory scrutiny on both sides of the Atlantic, saying it was not necessary after the AI start-up’s governance had improved significantly in the past eight months. Microsoft took a non-voting, observer position on OpenAI’s board in November last year after OpenAI

By Yoonjung Seo and Diksha Madhok, CNN Seoul/New Delhi (CNN) — The largest labor union at Samsung Electronics in South Korea has declared an indefinite strike after a three-day walkout failed to yield any ground in a tense dispute between workers and the tech giant over pay and bonuses. The announcement Wednesday follows a strike earlier

By Simone McCarthy and Joyce Jiang, CNN Hong Kong (CNN) — Public outrage is mounting in China over allegations that a major state-owned food company has been cutting costs by using the same tankers to carry fuel and cooking oil – without cleaning them in between. The scandal, which implicates China’s largest grain storage and

By Isabelle Chapman, Majlie de Puy Kamp and Audrey Ash, CNN (CNN) — For years, Airbnb has known some of its hosts have used hidden cameras to secretly spy on guests, invading their most private and intimate moments. While Airbnb has repeatedly acknowledged the problem in financial filings, it has worked to keep the scope

By Jeanne Sahadi, CNN New York (CNN) — Fifth Third Bank on Tuesday said it agreed to pay $20 million in penalties imposed by the Consumer Financial Protection Bureau to settle a CFPB investigation into its auto insurance practices, and a 2020 lawsuit the agency filed pertaining to the bank’s creation of fake customer accounts.

By Brian Fung, CNN Washington (CNN) — Meta will now remove posts containing the term “Zionist” when used in conjunction with antisemitic tropes or dehumanizing rhetoric, the company said Tuesday, in an expansion of its current hate speech policies. The decision follows what the company described as a months-long inquiry into how the term has

By Brian Fung, CNN Washington (CNN) — The Federal Trade Commission and the Los Angeles District Attorney’s Office have banned a controversial anonymous messaging app from serving kids under 18, taking an unprecedented and aggressive step against what regulators called “rampant cyberbullying and threats against children and teens” on the platform. The targeted ban is