CNN – Business/Consumer

By Chris Isidore and Vanessa Yurkevich, CNN Business A third railroad union has rejected a tentative labor deal, a move that further raises the odds that America’s 110,000 freight railroad workers will go on strike early next month. The rank and file members of the International Brotherhood of Boilermakers voted against a tentative agreement reached

By Allison Morrow, CNN Business As the dust settles from one of the most shocking financial implosions in history, one of the key unknowns is how much customers who can’t access their money expect to get back from FTX, the crypto exchange that filed for bankruptcy last week. The answer, according to legal experts, may

CNN By Chris Isidore, CNN Business FTX Digital Markets, the Bahamas-based unit of the recently collapsed cryptocurrency trading platform, has filed for bankruptcy protection in the US. The company filed Tuesday in New York court under Chapter 15, which is a way for foreign companies to use US bankruptcy law to restructure debt — commonly

By Brian Fung, CNN Business Amazon founder Jeff Bezos recently warned consumers and businesses they should consider postponing large purchases in the coming months as the global economy contends with a downturn and faces a possible recession. The business leader offered his starkest advice yet on a faltering economy in an exclusive sit-down interview with

By Paul R. La Monica, CNN Business The great bull run for tech stocks may finally be over. It has been a brutal year for the leading companies of Silicon Valley. Apple’s stock is down about 16% in 2022 — and that makes it the “best” performer of the so-called FAANGs of Big Tech. Facebook

By Jeanne Sahadi, CNN Business It’s not unusual for two people with the same title to be paid somewhat different salaries. Pay, after all, is based on many factors, including a person’s experience and performance, the market rate for the position when they were hired and their negotiation skills. But it’s hard to fathom that

By Matt McFarland, CNN Business Tesla headed to court today to defend the huge compensation package that helped make CEO Elon Musk the richest person on Earth. Delaware’s Court of Chancery in Wilmington will host the week-long trial to examine the 2018 compensation plan that the automaker’s board of directors created for Musk. The trial

CNN By Matt McFarland, CNN Business Tesla headed to court today to defend the huge compensation package that helped make CEO Elon Musk the richest person on Earth. Delaware’s Court of Chancery in Wilmington will host the week-long trial to examine the 2018 compensation plan that the automaker’s board of directors created for Musk. The

CNN By Brian Fung, CNN Business Amazon founder Jeff Bezos recently warned consumers and businesses they should consider postponing large purchases in the coming months as the global economy contends with a downturn and faces a possible recession. The business leader offered his starkest advice yet on a faltering economy in an exclusive sit-down interview

CNN By Brian Fung, CNN Amazon founder Jeff Bezos plans to give away the majority of his $124 billion net worth during his lifetime, telling CNN in an exclusive interview he will devote the bulk of his wealth to fighting climate change and supporting people who can unify humanity in the face of deep social

By Nicole Goodkind, CNN Business The stunning downfall of FTX, one of the largest cryptocurrency exchanges, sent shockwaves through the crypto universe last week. Sam Bankman-Fried, the 30-year-old crypto titan and chief executive of FTX, watched billions of his fortune evaporate in a bankruptcy filing that shook the trillion-dollar industry to its core. The pain

By Juliana Liu, CNN Business When President Joe Biden took office in January 2021, there were expectations on both sides of the Pacific that he would back away from the trade war his predecessor started with China nearly three years earlier. Frustrated by China’s huge trade surplus and accusing it of stealing US intellectual property,

By Diksha Madhok, CNN Business Aftershocks from the massive earthquake in the trillion-dollar crypto industry last week continued to reverberate on Monday. Prices of digital currencies fell again as the crisis engulfing the market deepened over the weekend. Bitcoin, the world’s biggest cryptocurrency, has plummeted about 65% so far this year. It was trading at

By Laura He, CNN Business Chinese authorities are making their biggest effort yet to end a crisis in the country’s vast real estate sector that has weighed heavily on the economy over the past year. Shares of China’s biggest property developer Country Garden soared as much as 52% in Hong Kong after Beijing on Friday

By Matt Egan Authorities in The Bahamas are investigating potential criminal misconduct surrounding the stunning implosion of crypto exchange FTX, authorities said on Sunday. In a statement, the Royal Bahamas Police Force confirmed the investigation into FTX, which is headquartered in The Bahamas. “In light of the collapse of FTX globally and the provisional liquidation

CNN By Frank Pallotta, CNN Business “Black Panther: Wakanda Forever” had the major challenge of following “Black Panther,” one of the biggest blockbusters ever, and had to do so without star Chadwick Boseman, who passed away in 2020. Despite all of the challenges, “Wakanda Forever” notched a sizable box office opening this weekend. The Marvel

By Frank Pallotta, CNN Business “Black Panther: Wakanda Forever” had the major challenge of following “Black Panther,” one of the biggest blockbusters ever, and had to do so without star Chadwick Boseman, who passed away in 2020. Despite all of the challenges, “Wakanda Forever” notched a sizable box office opening this weekend. The Marvel movie