Europe hits Russia's biggest banks

Sberbank serves more than half the Russian population and has millions of customers abroad. LONDON (CNNMoney) Publishing details of new measures aimed at disrupting activity in Russia's banking, oil and arms industries, the EU said Sberbank (SBRCY)and...

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T-Mobile soars on French takeover rumor

T-Mobile shares jumped 6% on a report about a buyout bid emerging out of France NEW YORK (CNNMoney) The news that France's Iliad might be making an offer for T-Mobile quickly ripped through the markets, causing T-Mobile's (TMUS) stock to briefly...

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Women on U.S. currency? 'A pretty good idea,' says Obama

Who would you like to see on a $1 bill? NEW YORK (CNNMoney) A young girl's letter to President Obama sparked a discussion about the possibility of adding women's faces on American currency. Obama mentioned the letter at an appearance Wednesday...

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Cronut creator unveils ice cream sundae in a can

NEW YORK (CNNMoney) The chef behind the infamous Cronut, Dominique Ansel, announced his newest concoction: an ice cream sundae ... in a can. The "Pop It" dessert was devised in collaboration with designer Lisa Perry to celebrate art and pop culture....

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Can Whole Foods turn itself around?

NEW YORK (CNNMoney) Whole Foods, the leading organic grocery chain, with 388 stores in North America and the United Kingdom, reported tepid sales growth and a cautious outlook for the next quarter late Wednesday. Shares of Whole Foods (WFM) sank...

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How to shop for back-to-school tax-free

NEW YORK (CNNMoney) Starting this week, 15 states are offering tax breaks that can save shoppers between 4% and 7%. (Mississippi had a tax holiday in July). Families with kids in K-12 will spend an average of $669.28 prepping for back-to-school...

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Wall Street wants tax holiday to be a QE4

NEW YORK (CNNMoney) No, not another federal holiday to honor a dead president. (Coolidge, perhaps?) We're talking about an IRS holiday from Congress that would allow U.S. companies to bring back some of the $2 trillion in cash they've been stashing...

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WWE slams workers by axing 7% of jobs

NEW YORK (CNNMoney) WWE (WWE) revealed plans on Thursday to slash 7% of its workforce in an effort to save cash. A WWE spokesman said the job cuts will impact all business units and locations. He said the pink slips will begin flying on Thursday....

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FCC calls Verizon plan to throttle connections 'disturbing'

FCC chairman Tom Wheeler's got some harsh words for Verizon. NEW YORK (CNNMoney) Federal Communications Commission chairman Tom Wheeler sent a letter to Verizon (VZ, Tech30) questioning its plan announced last week to slow down 4G connection...

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Is the iPad doomed?

Uh oh. That arrow's pointing the wrong way. NEW YORK (CNNMoney) Easy, there, tiger. Tablets are still popular and sales are growing -- 11% last quarter, to be precise, according to tech consultancy IDC. Still, that's a far cry from two years...

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Only 63% of American adults are in labor force

NEW YORK (CNNMoney) As of June, only 63% of Americans over age 16 participate in the labor force, meaning they either have a job or are actively looking for one. That number is around its weakest level since the early 1980s. Unless there's a...

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Cold beer battle heats up in Indiana

Jay Ricker wants to be able to sell cold beer in his convenience stores, but Indiana law says it has to be warm. He's taking it to court. NEW YORK (CNNMoney) The law allows only liquor stores to sell cold beer "to go" in the Hoosier state. ...

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Fiat: We're not talking merger with VW

Fiat shares jumped after a German magazine reported Volkswagen is considering a takeover of the automaker - a claim Fiat denied. LONDON (CNNMoney) Germany's Manager magazine reported that Volkswagen (VLKAF) is considering a full or partial takeover...

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Here's Google's plan to rid the world of cyberattacks

The Internet is full of bugs, and Google just launched a superhero team to kill 'em all. NEW YORK (CNNMoney) They're looking to exterminate those nasty computer bugs that let hackers and government spies sneak into our computers -- not just for...

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Would you order this $78 taco?

These caviar tacos grace the menu of 'Rose.Rabbit.Lie.,' a restaurant inside The Cosmopolitan Las Vegas. NEW YORK (CNNMoney) From tacos and flatbread to pasta and burgers, caviar -- those shiny little balls usually passed on a small spoon by...

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Americans take a vacation from U.S. stocks

NEW YORK (CNNMoney) The Investment Company Institute reported Wednesday that investors have pulled money from American mutual funds for 11 consecutive weeks. There was an especially big dip of $8.9 billion the first week in July when the Dow hit...

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Microsoft cuts 18,000 jobs

NEW YORK (CNNMoney) The software giant said it would cut 18,000 jobs within the next year -- about 14% of the company's 125,000 employees. That's by far the largest round of layoffs in the company's history. The previous record came during the...

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Barbie cries for help: Mattel shares plunge

NEW YORK (CNNMoney) Mattel (MAT), the largest company in the toy industry, reported a sharp drop in sales and earnings during the second quarter. Shares were down 6% on Thursday. Its traditional toys -- iconic brands like Barbie -- aren't resonating...

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Stocks tumble after Malaysian jet crash

NEW YORK (CNNMoney) A Malaysian Airlines jet reportedly crashed in Ukraine. The airline has confirmed that it lost contact with the plane in Ukraine, near the Russian border. Many European markets are now down more than 1%, gold is jumping up and...

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Russian markets rattled by new sanctions

Russian markets have been on a wild ride this year as investors and traders worry about the fall-out from the Ukrainian crisis. NEW YORK (CNNMoney) The country's benchmark Micex index fell more than 2% and the ruble was down about 1% against...

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Crumbs: Not dead yet

NEW YORK (CNNMoney) A group of investors including CNBC host Marcus Lemonis are preparing a bid to save the high-end cupcake chain, according to the business news network. The network said he would discuss the plans Thursday afternoon. In response,...

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LeBron's road to becoming a billionaire

Whether LeBron James remains with the Miami or returns to Cleveland, his ultimate goal is to become a billionaire. NEW YORK (CNNMoney) But whichever city he picks, the contract will be only a small part of his eventual goal: becoming a billionaire....

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Mind control app lets you snap photos with Google Glass just by focusing

You can now control Google Glass with pure brain power, using the new MindRDR app. NEW YORK (CNNMoney) A new app called MindRDR allows users to snap photos and post them to Facebook (FB, Tech30) and Twitter (TWTR, Tech30) without so much as lifting...

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Why state and local reporting is suffering

Only 4 full-time reporters cover Connecticut's statehouse NEW YORK (CNNMoney) Does that match up with reality? Essentially yes, says the Pew Research Center. In a new study released Thursday, Pew shows that the relatively small pool of reporters...

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Chinese hackers broke into U.S. federal employee network

Hackers from China sought information on government employees, including which personnel have security clearances. NEW YORK (CNNMoney) The attack occurred in mid-March, U.S. government officials told CNNMoney on Thursday. A New York Times report...

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New Internet speed record blows past Google Fiber

Bell Labs set a new broadband Internet speed record that could change the need for Internet providers to bring fiber to the home. NEW YORK (CNNMoney) It is eight times faster than the previous record -- and it was done over copper landlines....

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6.5 million homes at risk from storm surges

NEW YORK (CNNMoney) Given that oceanfront homes are among the most valuable properties along the coasts and also in the front line of incoming storms, the costs related to such flooding are also high. Flooding's potential costs 5 States with...

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Dish Network wants the government to stop the Comcast-Time Warner Cable merger

NEW YORK (CNNMoney) Dish (DISH), the No. 2 satellite-TV provider, has called on regulators to block the pending merger between Comcast (CMCSA) and Time Warner Cable (TWC), according to a filing this week with the Federal Communications Commission....

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They're back! Euro jitters slam U.S. stocks

NEW YORK (CNNMoney) Here's the bad news: U.S. stocks are down sharply Thursday as jitters about a Portuguese bank and ugly economic data raise more doubts about whether Europe is recovering. Here's the good news: Stocks are bouncing back...a...

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Portugal bank crisis: 4 reason to keep calm

LONDON (CNNMoney) Stocks fell across the region, most heavily in southern Europe, where government bonds also took a knock. Shares in Banco Espirito Santo were suspended but not before they slumped 17%, taking losses for the year to 46%. Shares...

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Time for fireworks: Dow tops 17,000!

NEW YORK (CNNMoney) Many see it as just a psychological threshold, but it's a level U.S. stocks have never seen before, and it comes a mere six months after the Dow crossed 16,000. All three major indexes are up in Thursday trading, with the...

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Mortgage rates drop to near 4%

NEW YORK (CNNMoney) The last time the 30-year rate was lower was in October, 2013 when it stood at 4.10%. The rate on 15-year loans remained at 3.22%. Related: Priced out! I can't afford a home in my town The fact that borrowing remains so affordable...

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Subaru recalls 660,238 vehicles over brake lines

Subaru is recalling more than 660,000 vehicles for potential corrosion of the brake lines. NEW YORK (CNNMoney) The Japanese automaker said brake lines in some vehicles run the risk of corrosion and may affect the driver's ability to stop. ...

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