Money

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,

By Juliana Liu, CNN (CNN) — A major Australian restaurant group known for its pubs has backtracked on plans to ban celebrations during the country’s national day following public criticism and calls for a boycott, in yet another sign of how controversial the anniversary has become. Debate continues to swirl over whether to commemorate January

By Auzinea Bacon, CNN (CNN) — Instead of lounging on the couch after Thanksgiving, Americans headed to movie theaters, as the premiere of Disney’s “Moana 2” and the draw of “Wicked” and “Gladiator II” provided a big boost to the domestic box office. The three blockbusters led the five-day opening weekend record to soar past

By Chris Isidore and Auzinea Bacon, CNN New York (CNN) — Stellantis, the maker of Chrysler, Jeep, Fiat and Peugeot among other brands, announced Sunday that embattled CEO Carlos Tavares has resigned due to differences with the board and in the face of disappointing sales and calls for his ouster. The departure follows a steep

By Hanna Ziady, CNN London (CNN) — Tens of thousands of Volkswagen workers are taking part in strikes at plants across Germany Monday, marking the largest walkouts at the carmaker’s domestic operations since 2018. The strikes, which are planned to last several hours, follow weeks of collective bargaining negotiations during which VW refused to rule

By Auzinea Bacon, CNN (CNN) — Despite retailers offering holiday discounts earlier than usual this year, US consumers did more shopping on Black Friday than the days leading up to it. In-store and online retail sales saw a 3.4% increase year-over-year on Black Friday, according to Mastercard SpendingPulse. “Shoppers are making the most of seasonal

By Bryan Mena, CNN Washington (CNN) — President-elect Donald Trump’s promise to impose stiff tariffs against America’s three biggest trading partners is widely expected to push prices higher, which would set the stage for the Federal Reserve to stop cutting interest rates and possibly raise them instead. Fed Chair Jerome Powell said in a recent

CNN By Bryan Mena, CNN Washington (CNN) — For Eduardo Sanchez, it is “difficult to vote for a candidate you can’t stomach as a Latino.” But the independent voter cast a ballot for Donald Trump this year, after voting for Joe Biden in 2020, pointing to the sharp rise in the cost of living since

By Bryan Mena, CNN Washington (CNN) — For Eduardo Sanchez, it is “difficult to vote for a candidate you can’t stomach as a Latino.” But the independent voter cast a ballot for Donald Trump this year, after voting for Joe Biden in 2020, pointing to the sharp rise in the cost of living since Biden

By Alicia Wallace, CNN (CNN) — Beer and liquor may be recession-proof, but they’re certainly not tariff-proof. If President-elect Donald Trump follows through with proposals to impose a 25% tariff on all items from Canada and Mexico, the result would be a stiff penalty on some of America’s favorite libations, not to mention the No.

By Auzinea Bacon, CNN (CNN) — Holiday shoppers got an early jump on Black Friday shopping this year, spending a record $6.1 billion on Thanksgiving, according to Adobe Analytics. Sales on the holiday increased year-over-year by 8.8%, a jump from 2023, which saw Thanksgiving sales climb by 5.5% as consumers looked to keep stretching their

By Hadas Gold, CNN New York (CNN) — Elon Musk’s X is intervening in the bankruptcy sale of conspiracy theorist Alex Jones’ Infowars, in what is believed to be the first time a social media platform has stepped in to a legal dispute over account ownership. Jones’ Free Speech Systems, the parent company of Infowars,