Money

By Jeanne Sahadi, CNN (CNN) — The official start date of this year’s tax filing season will be January 27, the IRS said Friday. That is the first day the agency will start accepting and processing 2024 income tax returns. “This has been a historic period of improvement for the IRS, and people will see

By John Towfighi, CNN (CNN) — Vince McMahon agreed to pay $1.7 million to settle Securities and Exchange Commission charges over settlements he made on behalf of himself and World Wrestling Entertainment without properly disclosing them to the company’s board of directors, the SEC announced Friday. McMahon, the former chief executive of WWE, made two

By John Towfighi, CNN New York (CNN) — US stocks plunged Friday as investors digested a better-than-expected jobs report that soured expectations of future rate cuts from the Federal Reserve. The Dow dropped by 697 points, closing at 41,938, while the S&P 500 fell by 1.5% and the tech-heavy Nasdaq index was lower by 1.6%.

By Jordan Valinsky, CNN New York (CNN) — Hoda Kotb, the co-host of NBC’s “Today,” signed off Friday, ending a nearly two-decade long run with the morning show. As part of her send-off, the program showed a retrospective of her time with “Today,” filled with memories from her co-anchors, including Savannah Guthrie, Craig Melvin, Al

By Liam Reilly, CNN New York (CNN) — Venu Sports, the joint streaming service from Warner Bros. Discovery, Fox Corp., and Disney, has been discontinued before its launch, the trio announced in a surprise move Friday morning. The decision, made collectively by WBD, Fox, and Disney, is effective immediately. “After careful consideration, we have collectively

By Jordan Valinsky, CNN New York (CNN) — Macy’s is closing several dozen stores as part of a previously announced turnaround plan to save the beleaguered retailer. Last year, Macy’s announced it was closing 150 underperforming stores by 2026, shrinking its footprint to about 350 locations when the plan is finished. The 66 store closings

By Clare Duffy, CNN New York (CNN) — Joanne Molinaro’s life changed when she found TikTok. She had clawed all the way up to being a partner at a big Chicago law firm after more than a decade of working in corporate litigation. And it nearly crushed her. “I was thinking to myself … lucky

By Jordan Valinsky, CNN New York (CNN) — It’s not just McDonald’s that is giving its menu a budget-friendly makeover. Other chains have also recently rolled out discounts, signaling that the fast food value meal wars are from over. Dunkin’, KFC, Subway, Taco Bell and Wendy’s have all debuted new promotions this month, continuing last

By Alicia Wallace, CNN (CNN) — The US economy closed out 2024 with another month of massive job growth, adding 256,000 positions in December. The unemployment rate dipped to 4.1% from 4.2%, wrapping up a year that marked a return to pre-pandemic norms, according to Bureau of Labor Statistics data released Friday. While the final

By Matt Egan, CNN New York (CNN) — President-elect Donald Trump’s quest to buy Greenland from Denmark could make Ozempic and Wegovy, the weight-loss and diabetes drugs exploding in popularity, even more expensive for Americans. Trump has cranked up the pressure on Danish officials to sell the strategically important North American island, turning to his

CNN By Chris Isidore, CNN New York (CNN) — Lynne Levin-Guzman stood in the front yard of her 90-year-old parents’ home in Los Angeles County, California, trying to protect it with a garden hose — because their insurance company no longer would. “I know I’m not supposed to be here, but this is my parents’

By Alicia Wallace, CNN (CNN) — In 2024, job growth continued to cool off, settling back into a familiar gait that was roughly in line with the pace of job creation in 2010-2019. Through November, the US economy added about 180,000 jobs per month. The unemployment rate bumped higher but stayed near historic lows. Those

By Jordan Valinsky, CNN New York (CNN) — JCPenney is merging with a company that owns a number of other once-bankrupt clothing stores, including Forever 21 and Brooks Brothers, to form a new company that will hold significant sway over the future of America’s malls. The 123-year-old department store chain anchors the new company —

By Ramishah Maruf, CNN New York (CNN) — OpenAI co-founder and CEO Sam Altman denied allegations made by his sister in a lawsuit filed Monday, which claimed he sexually abused her for almost a decade. The lawsuit, filed in federal court in Missouri, accuses him of sexual assault and sexual battery spanning from 1997 to

By Jordan Valinsky, CNN New York (CNN) — The former chief executive of MoviePass’ parent company has pleaded guilty to charges of securities fraud and conspiracy and could face up to 25 years in prison. Theodore Farnsworth “engaged in schemes to defraud investors,” the US Department of Justice said in a statement Tuesday, while he