Forget inflation, it’s all about income

New York CNN — For everything there is a season and now is the time for winnings. Over the past few weeks, investors have focused on inflation and Fed policy, but now market reactions are heating up for earnings (especially misfires) and waning for economic data. What is happening: “We expect earnings to take center … Read more

Forget inflation, it’s all about income

New York CNN — For everything there is a season and now is the time for winnings. Over the past few weeks, investors have focused on inflation and Fed policy, but now market reactions are heating up for earnings (especially misfires) and waning for economic data. What is happening: “We expect earnings to take center … Read more

With its ad business in crisis, Twitter eases ban on political ads

CNN — More than three years ago, Twitter banned political and themed ads amid broader concerns that politicians could pay to target social media users with false or misleading information. Now, under new owner Elon Musk, the company is easing that ban, which could give Twitter a much-needed sales boost at a time when Musk … Read more

FTX Founder Sam Bankman-Fried Pleads Not Guilty

New York CNN — Sam Bankman-Fried, the founder of bankrupt crypto exchange FTX, has pleaded not guilty to criminal charges, setting up a high-stakes legal battle that pits him against two of his closest former business partners. The 30-year-old entrepreneur, who has $250 million bail, was arraigned in federal court in Manhattan on Tuesday, flanked … Read more

Tesla shares are down 70% for the year

New York CNN — Tesla’s stock is ending its tumultuous year with even more turbulence: It was up nearly 6% on Thursday, but still down more than 10% since last week. And another drop in its price target from Morgan Stanley doesn’t help. Since the start of the year, the stock has fallen by around … Read more

Business partners turn to Sam Bankman-Fried

New York CNN — The stunning collapse of one of crypto’s most prominent companies quickly turned into a legal battle between former executives and former romantic partners. Last week, as FTX founder Sam Bankman-Fried was extradited to the United States from the Bahamas, two of his former business partners pleaded guilty to multiple charges of … Read more

Business partners turn to Sam Bankman-Fried

New York CNN — The stunning collapse of one of crypto’s most prominent companies quickly turned into a legal battle between former executives and former romantic partners. Last week, as FTX founder Sam Bankman-Fried was extradited to the United States from the Bahamas, two of his former business partners pleaded guilty to multiple charges of … Read more

T-Mobile’s Mike Sievert is CNN Business CEO of the Year

New York CNN — Investors saw a lot of red in 2022. But a company known for its magenta logo was a stock market darling this year. Shares of T-Mobile (TMUS) have risen around 20% in 2022, even as rivals AT&T (T) and Verizon (VZ) have fallen. Ma Bell was down about 2% while Verizon … Read more

Who’s Afraid of Wells Fargo?

Editor’s note: A version of this story appeared in CNN Business’ Nightcap newsletter. To receive it in your inbox, subscribe for free, here. New York CNN — Wells Fargo has reached a $3.7 billion settlement with regulators over the bank’s “widespread mismanagement” that allegedly affected more than 16 million consumer accounts. The Consumer Financial Protection … Read more

Bob Iger Named Disney CEO Again, Replacing Bob Chapek and Shocking Hollywood

New York CNN Business — Bob Iger, one of the most successful CEOs in The Walt Disney Company’s history, returns to lead the media empire once again. It’s a shocking development in Hollywood’s biggest business. Bob Chapek, who replaced Iger in 2020 as CEO, is stepping down immediately. “We thank Bob Chapek for his service … Read more