Citi plans to cut bonuses by up to 10%

Citigroup plans to cut bonuses and continue cutting headcount as the bank's shares remain down nearly 90% since before the crisis. NEW YORK (CNNMoney) -- Citigroup (C, Fortune 500) plans to slash bonuses up to 10% as it continues to trim its staff....

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Judge OKs bonuses for execs in Hostess liquidation

Hostess manufactured products including Twinkies, Ding Dongs and Wonder Bread. WHITE PLAINS, N.Y. (CNNMoney) -- A federal bankruptcy judge finalized the liquidation of Hostess Brands on Thursday and approved a bonus plan for senior executives involved...

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Facebook and Zynga tear up their contract

Facebook formerly had a unique deal with Zynga, but the amended contract makes the partnership much more similar to that of other developers. NEW YORK (CNNMoney) -- Facebook and Zynga have always been deeply intertwined, but the companies signed paperwork...

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Groupon CEO: I'm not surprised about firing rumors

Groupon CEO Andrew Mason says "if I ever thought I wasn't the right guy for the job, I'd be the first person to fire myself." NEW YORK (CNNMoney) -- Rumors are swirling that Groupon's board is considering replacing founder and CEO Andrew Mason with...

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Customer complaints soar at Toys R Us

Toys R Us shoppers are taking to the retailer's Facebook page to complain that the store couldn't keep up with the swell of holiday shoppers. NEW YORK (CNNMoney) -- Toys R Us may have bitten off more than it can chew. Since the beginning of the holiday...

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SEC closer to taking action against SAC Capital

NEW YORK (CNNMoney) -- The Securities and Exchange Commission is getting closer to taking enforcement against SAC Capital related to the largest insider trading case ever. SAC Capital, a $14 billion hedge fund run by billionaire Steven A. Cohen, received...

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Treasury declines to brand China a currency manipulator

NEW YORK (CNNMoney) -- The Treasury Department said Tuesday that China's currency remains undervalued, but stopped short of branding the country a currency manipulator. In its semi-annual report on international exchange rates, the Treasury Department...

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Green Mountain jumps 23% on rosy outlook

NEW YORK (CNNMoney) -- Green Mountain Coffee Roasters issued a better than expected outlook for the company's upcoming fiscal year, sending shares up 23% after the closing bell on Tuesday. The maker of K-cup single-serving coffee drinks said it expects...

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Tobacco companies ordered to advertise smoking risk

A man smokes a cigarette in San Francisco last year. NEW YORK (CNNMoney) -- A federal judge ordered the nation's major tobacco companies on Tuesday to take out advertisements acknowledging the health risks of smoking. The decision stems from a lawsuit...

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Troubled broker Knight Capital may be for sale

Knight Capital's shares are down more than 75% following its $440 million trading glitch. NEW YORK (CNNMoney) -- It hasn't been business as usual for Knight Capital since a massive software glitch in August nearly felled the 15-year old trading firm....

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Google's $400 million Wi-Fi buy a hoax

A press release on PRWeb announcing Google's $400 million purchase of ICOA turned out to be a fake. NEW YORK (CNNMoney) -- A spate of press reports on Monday heralded Google's latest takeover deal: An apparent $400 million purchase of ICOA, a Warwick,...

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Cyber Monday off to a strong start

Cyber Monday shoppers are flocking to their computers and smartphones to take advantage of discounts at their favorite retailers. NEW YORK (CNNMoney) -- Cyber Monday is off to a strong start, with shoppers flocking to their computers and smartphones...

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Black Friday: Crowds grow, but sales are a question

Lots of holiday shoppers hit the stores, such as Toys R Us in New York's Times Square, on Thanksgiving night. NEW YORK (CNNMoney) -- There were more shoppers in the nation's malls and big-box stores on Black Friday than there were last year, according...

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Stocks: Focus back on U.S. economy

Click the chart for more stock market data NEW YORK (CNNMoney) -- As confidence builds over lawmakers' ability to reach a deal on the "fiscal cliff," investors will turn their attention to U.S. economic reports on the housing market, manufacturing...

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Black Friday shopping hits a new record

Total spending over Black Friday weekend hit a record $59.1 billion, up from $52.4 billion last year. The number of shoppers in store and online also hit a new record. NEW YORK (CNNMoney) -- Apparently, full stomachs after Thanksgiving dinners get...

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Wal-Mart protests draw hundreds nationwide

NEW YORK (CNNMoney) -- Hundreds of people -- including some employees -- have taken part in Black Friday demonstrations at Wal-Mart stores nationwide, protesting what they say is the retailer's retaliation against speaking out for better pay, fair schedules...

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Cyber Monday starts early this year

NEW YORK (CNNMoney) -- Post-Thanksgiving online discounts were once relegated to Cyber Monday -- but these days, websites are launching deals even before Black Friday. And the resulting shopping frenzy is expected to set records. IBM Benchmark reported...

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Black Friday: Crowds grow, but sales are a question

Lots of holiday shoppers hit the stores, such as Toys R Us in New York's Times Square, on Thanksgiving night. NEW YORK (CNNMoney) -- There were more shoppers in the nation's malls and big-box stores on Black Friday than there were last year, according...

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RIM jumps 14% on BlackBerry 10 hopes

RIM, and CEO Thorsten Heins, have spent months assuring that BlackBerry 10 is worth the wait -- and investors appear optimistic. NEW YORK (CNNMoney) -- Hating BlackBerry has become something of a bloodsport, but Research in Motion shares have been...

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Wal-Mart protests draw hundreds nationwide

NEW YORK (CNNMoney) -- Hundreds of people -- including some employees -- have taken part in Black Friday demonstrations at Wal-Mart stores nationwide, protesting what they say is the retailer's retaliation against speaking out for better pay, fair schedules...

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Cyber Monday starts early this year

NEW YORK (CNNMoney) -- Post-Thanksgiving online discounts were once relegated to Cyber Monday -- but these days, websites are launching deals even before Black Friday. And the resulting shopping frenzy is expected to set records. IBM Benchmark reported...

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Wal-mart workers get ready for Black Friday protest

Wal-Mart employees in June joined a rally in Los Angeles to protest what they call retaliation from the nation's largest retailer. NEW YORK (CNNMoney) -- Shoppers and stores around the country are preparing for big Black Friday sales, but a group...

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Fitch cuts Sony, Panasonic debt to junk

Sony and Panasonic were downgraded Thursday by Fitch. HONG KONG (CNNMoney) -- Fitch Ratings downgraded Sony and Panasonic debt to junk status Thursday and said the ailing Japan-based consumer electronic makers both needed radical restructuring to...

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Service sector adds to eurozone gloom

Germany's services sector is increasingly gloomy about its prospects LONDON (CNNMoney) -- Service industry companies in the eurozone are more pessimistic about their prospects than at any time since early 2009, pointing to little chance of a return...

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Federal investigators keep circling Steven Cohen and SAC Capital

The feds are circling around Steve Cohen, targeting employees of his firm SAC Capital for insider trading. NEW YORK (CNNMoney) -- The feds have been circling hedge fund titan Steven Cohen and his firm SAC Capital Advisors for some time, sniffing around...

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NTSB drops 'unacceptable' BlackBerry for iPhone

The NTSB says its RIM devices have been failing 'at inopportune times and at an unacceptable rate.' NEW YORK (CNNMoney) -- The National Transportation Safety Board is the latest federal agency to ditch its BlackBerry phones for Apple's iPhone -- and...

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Black Friday: Shorter lines, but bigger checks

Fewer shoppers are expected in stores this Black Friday weekend, but some experts are predicting big sales and deep deals on the retail holiday. NEW YORK (CNNMoney) -- Despite stores falling over themselves with incentives and earlier openings than...

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HP's $9 billion Autonomy whoops is small change compared to past tech debacles

NEW YORK (CNNMoney) -- Hewlett-Packard's $8.8 billion writedown of Autonomy on Tuesday slammed a deep crater in HP's balance sheet, but it's just a drop in the bucket compared to some of the epically disastrous tech mergers of the past decade. The most...

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