Money

By Jordan Valinsky, CNN New York (CNN) — New Starbucks CEO Brian Niccol won’t be a constant presence at its Seattle headquarters where he takes the helm next month. Instead, he’s going to commute weekly from his California home. The setup was revealed last week in Niccol’s offer letter, which is giving him a “small

By Bryan Mena, CNN Washington (CNN) — After a grueling two years of high inflation and elevated interest rates, Americans are finally set for some relief: Federal Reserve Chair Jerome Powell on Friday offered his strongest affirmation yet that a rate cut is coming next month. But the size of that relief remains an open

By Bryan Mena, CNN Washington (CNN) — America’s top central banker has unambiguously signaled that lower interest rates are finally on the horizon, marking a crucial milestone for the Federal Reserve’s historic — and, so far, successful — inflation fight. “The time has come for policy to adjust,” Fed Chair Jerome Powell said in prepared

By Krystal Hur, CNN New York (CNN) — Stocks rose Friday afternoon as Wall Street cheered a signal from Federal Reserve Chair Jerome Powell that long-awaited interest rate cuts are finally coming. The Dow rose 328 points, or 0.8%, after jumping more than 400 points earlier in the day. The S&P 500 gained 0.8% and

By Matt Egan, CNN (CNN) — Halliburton confirmed on Friday that it was hit by a cyberattack that forced the major oilfield services company to take systems offline. In a filing, Halliburton said it became aware on Wednesday that an “unauthorized third party gained access to certain of its systems.” Halliburton said it immediately “activated its

By Jordan Valinsky, CNN New York (CNN) — It’s not $5, but Subway is bringing back cheap footlongs and joining the fast food value menu wars. Beginning August 26, Subway will sell any footlong sandwich for $6.99 — a steep discount considering that some footlongs can cost as much as $14 in some cities. It’s

By Devan Cole and Marshall Cohen, CNN Wilmington, Delaware (CNN) — Newsmax CEO Chris Ruddy knew the right-wing cable outlet had no evidence to back up its claims that Smartmatic was involved in rigging the 2020 election even as it continued to push the lies on its air, an attorney for the voting technology company alleged on Thursday.

By Erika Tulfo, CNN (CNN) — Shares of beleaguered exercise equipment company Peloton rallied sharply on Thursday after it reported its first rise in sales in more than two years. The home fitness company brought in $644 million in sales, up 0.2% from the year before, and its shares surged more than 35%. That might

By Chris Isidore, Ramishah Maruf and Paula Newton, CNN New York (CNN) — The Canadian government stepped in to end a shutdown of the nation’s two major freight railroads less than 17 hours after it started, ordering binding arbitration to end the labor dispute that threatened severe disruptions in both the US and Canadian economies.

By Jordan Valinsky, CNN New York (CNN) — Walmart is hoping Burger King will give its subscription program a whopper of an advantage over Amazon. The retailer is partnering with the fast-food chain to give members of its $98-a-year subscription program, Walmart+, a 25% discount on Burger King orders every day and free Whoppers every

By Olesya Dmitracova, CNN London (CNN) — McDonald’s has unveiled plans to open more than 200 new restaurants in the United Kingdom and Ireland, which it expects will create over 24,000 jobs. As part of the rollout, the fast-food giant will test new restaurant formats, such as “drive to” and smaller stores, as well as

By Elisabeth Buchwald, CNN New York (CNN) — What do a mountainside resort and economists have in common? Next to nothing, if it weren’t for an annual invite-only summit the Kansas City Federal Reserve hosts at the Jackson Lake Lodge nestled in a valley by the Teton mountains just outside Jackson Hole, Wyoming. And it’s

By Marshall Cohen, CNN Washington (CNN) — Taylor Swift didn’t endorse former President Donald Trump last weekend. Ryan Reynolds wasn’t photographed wearing a pro-Kamala Harris shirt. And the Communist Party USA never backed President Joe Biden’s now-defunct campaign. But these false claims about the 2024 campaign, and dozens of other posts with similar fake endorsements,

By Nectar Gan and Hassan Tayir, CNN Hong Kong (CNN) — Hungry tourists hiking on the Great Wall of China can now get their lunch delivered – from the air. Chinese food delivery giant Meituan says its new drone service, announced last week, will bring food, drinks and other goods such as medical supplies to

By Chris Isidore, CNN New York (CNN) — Canada’s two major freight railroads have shut their operations, according to management of the two companies, locking out 9,000 members of the Teamsters union who operate the trains and dealing a potential blow to both the Canadian and US economies. Nearly a third of the freight handled