Money

By Matt McFarland, CNN Business Tesla CEO Elon Musk took the witness stand for a second day on Monday and attempted to explain the thought process behind his controversial “funding secured” tweet from 2018, pushing back at the idea that it was partly a joke. Musk, Tesla and company directors are facing a shareholder lawsuit

By Matt Egan, CNN For the first time since the early days of the pandemic, most business economists expect their companies to cut payrolls in the coming months, according to a new survey released Monday. Just 12% of economists surveyed by the National Association for Business Economics (NABE) anticipate employment will increase at their firms

By Nicole Goodkind, CNN ESG funds — investments that evaluate companies using environmental, social and governance factors — just survived a tumultuous 2022. They also managed to perform in line with the general market while doing so, and attract new money — a good sign for the future of responsible investing. What’s happening: Russia’s war

By Sophia Saifi, Azaz Syed and Rhea Mogul, CNN A nationwide power outage in Pakistan left nearly 220 million people without electricity on Monday, threatening to cause havoc in the South Asian nation already grappling with fuel shortages in the winter months. The country’s Ministry of Energy said in a statement the country’s National Grid

CNN By Alicia Wallace, CNN After the United States hit its debt ceiling on Thursday, the Treasury Department is now undertaking “extraordinary measures” to keep paying the government’s bills. A default could be catastrophic, causing “irreparable harm to the US economy, the livelihoods of all Americans and global financial stability,” Treasury Secretary Janet Yellen has

By Alicia Wallace, CNN After the United States hit its debt ceiling on Thursday, the Treasury Department is now undertaking “extraordinary measures” to keep paying the government’s bills. A default could be catastrophic, causing “irreparable harm to the US economy, the livelihoods of all Americans and global financial stability,” Treasury Secretary Janet Yellen has warned.

By Paul R. La Monica, CNN Recession alarm bells are sounding. But are they premature? Yes, retail sales tumbled in December as inflation took its toll on consumers. The manufacturing sector is contracting. And several prominent CEOs are talking about the increased likelihood of a downturn during recent quarterly earnings conference calls. But the United

By Jeanne Sahadi, CNN Official tax-filing season kicks off Monday, January 23, and it may hold some surprises for your wallet. So, whether you expect to file your 2022 federal income tax return right away or wait until the last minute, now is a good time to get a sense of whether you’ll owe more

CNN By Faith Karimi, CNN Ruja Ignatova strode onto the stage in a flowing burgundy ball gown adorned with black sparkles. Beams of light flashed, fireballs erupted and Alicia Keys’ “Girl on Fire” blared through the speakers. “Looks like a girl, but she’s a flame. So bright, she can burn your eyes — better look

By Faith Karimi, CNN Ruja Ignatova strode onto the stage in a flowing burgundy ball gown adorned with black sparkles. Beams of light flashed, fireballs erupted and Alicia Keys’ “Girl on Fire” blared through the speakers. “Looks like a girl, but she’s a flame. So bright, she can burn your eyes — better look the

By Ramishah Maruf, CNN Just this week, Alphabet, Google’s parent company, Microsoft and Vox Media announced layoffs that will affect more than 22,000 workers. Their moves follow job cuts earlier this month at Amazon, Goldman Sachs and Salesforce. More companies are expected to do the same as firms that aggressively hired over the last two

By Ramishah Maruf, CNN Frozen custard and burger chain Culver’s is switching from Pepsi products to Coca-Cola — and Pepsi fans are not happy. “This is in progress and will take time as our nearly 900 restaurants located in 26 states make the switch,” the Wisconsin-founded chain said in a statement, adding that its signature