CNN – Business/Consumer

By Paul R. La Monica and Nathaniel Meyersohn, CNN The end could be near for struggling retailer Bed Bath & Beyond, as it warned in a regulatory filing Thursday that it received a notice of default from its lender, JPMorgan Chase. Shares of Bed Bath & Beyond (BBBY) plunged more than 20% on the news,

By Oliver Darcy, CNN Dotdash Meredith, the publisher that houses well-known brands such as People, Better Homes & Gardens, InStyle, Travel + Leisure, and others, will lay off 7% of its staff, the company’s chief executive said Thursday. It’s the latest example in a brutal wave of layoffs that have consumed the media and technology

By Allison Morrow, CNN Newly unsealed bankruptcy documents revealed thousands of creditors to whom FTX owes money after the once-mighty crypto exchange collapsed in November. Wall Street heavyweights including Goldman Sachs and JPMorgan were named in the creditor list, which includes businesses, charities, individuals and other entities in a 116-page document filed late Wednesday. FTX

By Jordan Valinsky, CNN DirecTV has dropped Newsmax, a right-wing TV network, from its channel lineup over a carriage fee dispute. In a statement, DirecTV said it wanted to “continue to offer the network,” but the channel’s demands for carriage fee increases would have led to “significantly higher costs that we would have to pass

By Chris Isidore, CNN Southwest Airlines reported a loss for the fourth quarter because of the company’s service meltdown over the holiday travel season, and it warned the costs from those problems will result in another loss in the first quarter. The airline was forced to cancel more than 16,700 flights between December 21 and

By Chris Isidore, CNN If airlines are to avoid repeats of recent service problems, they’ll need to have a lot more back-up in place, according to United CEO Scott Kirby. “You can’t run an airline like it’s 2019, and the reason is because the system is just stressed to the max,” Kirby told CNN’s Christine

By Michelle Toh, CNN Toyota’s longtime president and CEO Akio Toyoda is stepping down and handing over the reins of the world’s largest automaker to Lexus chief Koji Sato. The Japanese company announced the shakeup Thursday, saying that Toyoda would be appointed chairman of the board as Sato takes over daily management. Takeshi Uchiyamada, Toyota’s

By Pete Muntean and Greg Wallace, CNN The US Transportation Department said it is in the early stages of an investigation into the Southwest Airlines holiday travel meltdown in December. The probe includes an examination of whether Southwest is scheduling more flights than it can handle. “DOT is in the initial phase of a rigorous

By Hanna Ziady, CNN UK car manufacturing hit a 66-year low in 2022, as the closure of two plants, a global shortage of semiconductors and the effect of Covid lockdowns in China on auto supply chains crippled output. Figures published Thursday by the Society of Motor Manufacturers and Traders (SMMT), an industry body, showed that

By Anna Bahney, CNN In response to rent payments soaring across the country in recent years, the Biden administration unveiled new actions Wednesday to protect tenants, make renting more affordable and improve fairness in the rental housing market. Multiple agencies are expected to take part in improving conditions for renters, taking actions in tandem with

By Chris Isidore, CNN Tesla reported record profits for the fourth quarter and the full year, but its profit margins were tighter due to higher costs, recent price cuts, and sales in the quarter that were weaker than hoped. The leading electric vehicle maker posted adjusted earnings of $1.19 per share in the quarter, up