Money

By Nathaniel Meyersohn, CNN New York (CNN) — CVS is closing 900 stores. Rite-Aid is closing 500. Walgreens announced Tuesday it plans to close 1,200 stores, meaning 1 in 7 will disappear. What is going on with America’s drug stores? Walgreens and other chains overexpanded during the 1990s and 2000s to drive out competitors and

By Olesya Dmitracova, CNN London (CNN) — For consumers still scarred by jumps in their energy bills in recent years, the International Energy Agency has good news: Oil and natural gas prices will probably be lower over the next five years. Energy prices soared in the wake of Russia’s full-scale invasion of Ukraine in February

By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s social media company suffered a sudden nosedive in the stock market Tuesday that briefly halted trading and left traders scratching their heads. Truth Social owner Trump Media & Technology Group was trading sharply higher during a volatile session at about $31 per share

By Katelyn Polantz, CNN Washington (CNN) — Political journalist Ryan Lizza has accused his ex-fianceé, the acclaimed magazine writer Olivia Nuzzi, of “catastrophically reckless behavior” in a year-long affair with Robert F. Kennedy Jr. that led to the journalists’ breakup this summer, according to new court filings in an ongoing dispute between Lizza and Nuzzi.

By Jordan Valinsky, CNN New York (CNN) — Lufthansa, Germany’s biggest airline, has been fined a record $4 million for discriminating against Jewish passengers, the US Department of Transportation announced Tuesday. The fine stems from a May 2022 incident in which the airline prohibited 128 Jewish passengers from boarding. The DOT noted in a consent

By Liam Reilly, CNN New York (CNN) — Donald Trump has backed out of an interview with CNBC, marking the second time this month the former president has canceled on a mainstream press interview. Joe Kernen, the “Squawk Box” co-anchor, broke the news of the unannounced interview’s cancellation during Tuesday morning’s broadcast. “Well, Trump canceled,

By Alicia Wallace, CNN (CNN) — Americans are feeling fairly secure in their jobs, they expect to continue to earn and spend more than they did pre-pandemic, and they think inflation isn’t getting much worse, according to new survey data released Tuesday by the Federal Reserve Bank of New York. But they’re growing increasingly anxious

By Jordan Valinsky, CNN New York (CNN) — Walgreens is closing approximately 1,200 locations as the drug store chain struggles to contend with online competitors and declining prescription drug payments. By 2027, about one in seven Walgreens currently open will close its doors. About 500 Walgreens will close its doors over the next year, the

By Chris Isidore, CNN New York (CNN) — Cash-starved Boeing, contending with massive financial losses from a crippling strike and years of operational and safety problems, is turning to major banks and Wall Street to raise tens of billions of dollars in cash. In a regulatory filing early Tuesday, the company announced plans to borrow

By Nathaniel Meyersohn, CNN New York (CNN) — Ken Frazier grew up in a poor Philadelphia neighborhood as the son of a janitor and grandson of a man born into slavery. He rose to the heights of corporate America as CEO of Merck from 2011 to 2021, becoming the first Black chief executive of a

By Elisabeth Buchwald, CNN New York (CNN) — Up until a few weeks ago, residents of western North Carolina likely gave little consideration to purchasing flood insurance. But last month Hurricane Helene flooded much of that area, as well as other parts of the Southeast, resulting in up to $30 billion in uninsured flood damage.

By Nicole Goodkind, CNN New York (CNN) — Wall Street traders are popping champagne and toasting the two-year anniversary of a period of outsized gains known as a bull market. This two-year mark is known in gift-giving terms as the cotton anniversary. And with US dollars made up of 75% cotton, traders are celebrating with

By Nathaniel Meyersohn, CNN New York (CNN) — Expect to see fewer promotions at Starbucks. The coffee chain is scaling back promotional offers through its mobile app to get customers to pay full price for its coffees and teas, the Wall Street Journal first reported Monday and confirmed by CNN. The move is part of

By Matt Egan, CNN New York (CNN) — Hurricane Milton passed through Florida days ago, but the devastating storm is still causing chaos at gas stations. Hundreds of gas stations in Florida still don’t have gas, including roughly half of the stations in the hard-hit Tampa area. Floridians who are fortunate to access working gas

By Jordan Valinsky, CNN New York (CNN) — True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday. In a press release, True Value said it will continue day-to-day operations of selling hardware and other homeware tools to

By Jordan Valinsky, CNN New York (CNN) — Bath and Body Works has stopped selling a candle that was emblazoned with a winter theme that many commenters online compared to a Ku Klux Klan hood. The candle’s label, called “Snowed In,” was decorated with a stylized paper snowflake. But many people on social media compared

By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s social media company is on fire on Wall Street. It’s all about Trump’s perceived chances of retaking the White House. Up until very recently, Trump Media & Technology Group had been in meltdown mode. Its share price dropped to a record low of

By Christian Edwards, CNN London (CNN) — Three economists were awarded the Nobel Prize Monday for their research into how the nature of institutions helps explain why some countries become rich and others remain poor. Daron Acemoglu, Simon Johnson and James Robinson will share the prize, which carries a cash award of 11 million Swedish

By Vanessa Yurkevich, CNN (CNN) — For the past month TikTok users have been commenting on Nutter Butter’s account. “You good?” asked one. “Nutter Butter are you paying for my therapy or?” asked another. Some users have posted complete video responses trying to understand what was going on, tagging their posts “#weird.” The posts from

By Ramishah Maruf, CNN New York (CNN) — On the second Monday of October, Americans will be celebrating Indigenous Peoples’ Day, also known as Columbus Day. Indigenous Peoples’ Day recognizes the contributions and legacy of those who lived here long before Christopher Columbus erroneously claimed to have discovered America. President Joe Biden formally recognized Indigenous Peoples’ Day