Money

CNN By Nicole Goodkind, CNN New York (CNN) — US stocks soared Friday after new data showed that US job growth slowed considerably last month. After surging by more than 500 points after the opening bell, the blue-chip Dow closed 450 points higher, or 1.2%; the S&P 500 rose 1.3% and the tech-heavy Nasdaq gained

By Jordan Valinsky, CNN New York (CNN) — Rue21, a mall staple for teen apparel, is going out of business and closing all 540 of its stores within the coming weeks. The Pittsburgh-based company filed for bankruptcy Thursday for the third time in its existence, signaling the end of nearly 50 years in business for

By Brian Fung, CNN (CNN) — Whenever you type a search into Apple’s Safari browser — say, on an iPhone — chances are it’s Google that returns the results. You can tell Safari to pick another search engine, but in practice most people tend to stick with Google by default. You might know that Google

By Matt Egan, CNN New York (CNN) — BF Borgers, Trump Media & Technology Group’s independent accounting firm, was charged by the Securities and Exchange Commission on Friday with widespread fraud and accused of operating a “sham audit mill.” The SEC made no allegation of wrongdoing against Truth Social owner Trump Media (DJT), which is

By Nicole Goodkind, CNN New York (CNN) — US stocks soared Friday after new data showed that US job growth slowed considerably last month. After surging by more than 500 points after the opening bell, the blue-chip Dow closed 450 points higher, or 1.2%; the S&P 500 rose 1.3% and the tech-heavy Nasdaq gained 2%.

By Anna Cooban, CNN London (CNN) — The Italian company that helped rebuild a bridge that collapsed in Genoa in 2018 says it is ready to do the same in Baltimore. WeBuild Group said in a press release Friday that it had sent a preliminary design and plans to US officials for the reconstruction of

By Chris Isidore, CNN New York (CNN) — Few companies have lost more than the $32 billion that Boeing has lost in the last five years. And fewer companies could lose that kind of money and not be facing bankruptcy — or worse. That’s because the company is part of a unique duopoly, one of

By Hande Atay Alam and Olesya Dmitracova, CNN (CNN) — Turkey has halted all import and export transactions with Israel in protest over the war in Gaza. “All import and export transactions related to Israel, including all products, have been stopped,” Turkey’s trade ministry said in a statement Thursday. “Turkey will strictly and decisively implement

By Matt Egan, CNN New York (CNN) — Former President Donald Trump hit the jackpot this spring when his social media company finally went public. Even though Trump Media & Technology Group (DJT) generates very little revenue, investors are assigning an eye-popping valuation north of $9 billion to the company. Trump’s dominant stake in Trump

By Nathaniel Meyersohn, CNN New York (CNN) — In 2003, Red Lobster ran an “Endless Crab” promotion. The all-you-can-eat deal backfired spectacularly. Red Lobster misjudged just how many seafood lovers would pour into restaurants around the United States and fill up their stomachs with pounds of sweet, juicy crab legs drenched in lemon and dipped

By Alicia Wallace, CNN (CNN) — US job growth slowed considerably last month, with just 175,000 positions added in April, according to Bureau of Labor Statistics data released Friday. The slower-than-expected gains — April’s tally is the lowest since October of last year — come as the Federal Reserve has sought to cool demand to

By Samantha Delouya, CNN (CNN) — More than 16,000 pounds of raw ground beef products were recalled by the US Department of Agriculture on Wednesday on concerns the meat may be contaminated with E. coli. The meat items, produced by Cargill Meat Solutions, were sold at Walmart retail locations across the United States. According to

By Matt Egan, CNN New York (CNN) — Scott Sheffield, founder and longtime CEO of a leading American oil producer, attempted to collude with OPEC and its allies to inflate prices, federal regulators alleged on Thursday. The Federal Trade Commission said Sheffield, then CEO of Pioneer Natural Resources, exchanged hundreds of text messages discussing pricing, production and

By Chris Isidore, CNN New York (CNN) — The state of Maryland is about to get an insurance payment of $350 million related to the collapse of the Francis Scott Key Bridge in late March, according to the broker handling its policy on the structure. The payment would come from insurer Chubb, which has a

By Jordan Valinsky, CNN New York (CNN) — Peloton CEO Barry McCarthy is leaving his role, and the company is cutting about 15% of its workforce as numerous attempts to regain its pandemic-era glory have failed. McCarthy, who was named CEO just two years ago, will become a strategic advisor through the end of the

By Alicia Wallace, CNN (CNN) — The US job market has been on a roll for the past three years. Some economists even say “it’s as good as it’s ever been.” That storyline isn’t expected to change Friday when April’s jobs report lands at 8:30 am ET — but it’s possible there might be a

By Samantha Murphy Kelly, CNN (CNN) — Apple on Thursday posted first-quarter revenue of $90.8 billion, down 4% year over year, as the iPhone maker continues to struggle with growth challenges, particularly in China, amid an uncertain economic environment. The company also announced a $110 billion share buyback – the largest in the company’s history

By Hanna Ziady, CNN London (CNN) — Ariana Grande, Adele and Rihanna will soon be back on TikTok, joining Taylor Swift after a deal with Universal Music Group ended a feud that saw one of the world’s biggest record labels pull its music from the video platform. The licensing agreement, announced Wednesday, means that within