Senate confirms Jack Lew as Treasury Secretary

The Senate confirmed Jack Lew to be the next Treasury secretary. WASHINGTON (CNNMoney) Lew, 57, most recently served as the White House chief-of-staff. As a former budget director for Presidents Obama and Bill Clinton, Lew has overseen budget...

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J.C. Penney and Ron Johnson still struggling in turnaround effort

J.C. Penney CEO Ron Johnson. NEW YORK (CNNMoney) Johnson, who previously worked at Apple (AAPL, Fortune 500) and spearheaded the company's retail-store strategy, took over at J.C. Penney in November of 2011 and has since announced a series of new...

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Indiana to halt unemployment benefits due to forced budget cuts

The long-term unemployed will be among the first to feel the effects of the forced budget cuts scheduled to take effect on Friday. NEW YORK (CNNMoney) Across the nation, the long-term unemployed -- who collect these extended federal benefits --...

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For sale: Your personal info

BARCELONA, Spain (CNNMoney) Today, most of the data wireless carriers share with third parties is pretty generic: All four national carriers bundle together their customers' personal information and use that aggregated data to help outside companies...

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Instagram hits 100 million users

Instagram now has 100 million active users each month. NEW YORK (CNNMoney) The milestone comes just a few months after the photo-sharing company's second birthday, and less than one year since Facebook (FB) bought Instagram for $1 billion. Co-founder...

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Gold posts best day of 2013

NEW YORK (CNNMoney) U.S. gold futures for April delivery rose $28.90, or 1.8%, to end the day at $1,615.50 per ounce. That's the precious metal's biggest jump both in terms of points and on a percentage basis for 2013. The rally came after gold...

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Americans still aren't saving enough

Of those surveyed, 38% said they were saving less than last year. NEW YORK (CNNMoney) Only half of respondents reported good savings habits, including having a spending and/or saving plan in place, according to the Consumer Federation of America...

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Sony's incredibly thin Xperia Tablet Z tablet

BARCELONA, Spain (CNNMoney) If you were to pick up Sony's (SNE) new 10.1-inch tablet and not look at it, you'd think you were holding a 7-inch device in your hand. It's that light. The Xperia Tablet Z is just 0.27 inches thick and 1.09 pounds....

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HP sells off the last scraps of Palm: webOS

HP bought Palm for its webOS, but it left the software for dead after HP killed off its TouchPad tablet and webOS smartphone line. NEW YORK (CNNMoney) LG is buying all of the assets associated with webOS: the source code, engineering talent, patents,...

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Moody's downgrades United Kingdom from AAA

God save the AAA rating. NEW YORK (CNNMoney) The U.K. was knocked down one notch to Aa1, with its ratings outlook at stable. Moody's said the key drivers of the downgrade included the country's rising debt burden and tepid growth outlook over the...

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Samsung stuffs a phone in new Galaxy Note 8.0 tablet

NEW YORK (CNNMoney) It runs Android 4.1, has a 1.6 GHz quad-core CPU, 2 gigabytes of RAM, and an 8-inch, 1280 x 800 display that you can control with Samsung's S-Pen stylus. But on the international version of the device, there's something quite strange...

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Stocks: Budget cuts loom

Click the chart for more stock market data . NEW YORK (CNNMoney) If lawmakers don't come up with a solution by March 1, the budgets of most federal government programs and agencies will shrink. This could mean furloughs for federal workers, smaller...

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Moody's downgrades United Kingdom from AAA

God save the AAA rating. NEW YORK (CNNMoney) The U.K. was knocked down one notch to Aa1, with its ratings outlook at stable. Moody's said the key drivers of the downgrade included the country's rising debt burden and tepid growth outlook over the...

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Fed officials: Don't worry if we lose money

NEW YORK (CNNMoney) But that's okay, Fed officials say. After years of record profits, the Fed is likely to be saddled with losses starting in 2017 or 2018, economists predict in a paper that was presented Friday at the U.S. Monetary Policy Forum,...

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Judge rules against Apple in Einhorn cash fight

NEW YORK (CNNMoney) Einhorn's Greenlight Capital filed a lawsuit earlier this month seeking to "unbundle" a number of shareholder proposals that would have been voted on as a group, including one that would have made it difficult for the company to...

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Fed officials: Don't worry if we lose money

NEW YORK (CNNMoney) But that's okay, Fed officials say. After years of record profits, the Fed is likely to be saddled with losses starting in 2017 or 2018, economists predict in a paper that was presented Friday at the U.S. Monetary Policy Forum,...

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Judge rules against Apple in Einhorn cash fight

NEW YORK (CNNMoney) Einhorn's Greenlight Capital filed a lawsuit earlier this month seeking to "unbundle" a number of shareholder proposals that would have been voted on as a group, including one that would have made it difficult for the company to...

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Moody's downgrades United Kingdom from AAA

God save the AAA rating. NEW YORK (CNNMoney) The U.K. was knocked down one notch to Aa1, with its ratings outlook at stable. Moody's said the key drivers of the downgrade included the country's rising debt burden and tepid growth outlook over the...

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Wal-Mart: Small businesses are hurting, too

Wal-Mart said consumers aren't the only ones tightening their wallets. Small businesses that shop at its Sam's Club warehouse stores also are buying less as payroll taxes and higher gas prices take a toll. NEW YORK (CNNMoney) Small businesses frequently...

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Tesla stock tumbles 9%

Click on chart for more stock data. NEW YORK (CNNMoney) But he couldn't overcome criticism from investors Thursday who drove the stock sharply lower after the company posted a bigger than expected loss. Shares of Tesla (TSLA) ended about 9%...

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HP profit falls 16%, beating super-low expectations

HP's first-quarter earnings were weak, but expectations are so low that the figures came in above analysts' estimates. NEW YORK (CNNMoney) Sales fell in every HP business unit last quarter -- save one measly 1% gain in its relatively tiny financial...

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New York Times looks to sell Boston Globe

Boston Globe for sale. NEW YORK (CNNMoney) The firm has hired Evercore Partners to lead the search for a buyer and manage the sale. New York Times CEO Mark Thompson said the company is "proud of our association" with the Globe, as well as Worcester...

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Americans in love-hate relationship with payday loans

Many borrowers say payday loans take advantage of them, but most would use one again, Pew found. NEW YORK (CNNMoney) Payday loans are advertised as short-term credit lines, typically extended for two weeks to help consumers get through to their...

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Tesla posts loss, claims profits are in sight

Click the chart for more info. NEW YORK (CNNMoney) Tesla (TSLA) reported a loss of roughly $75 million for the fourth quarter on Wednesday, or 65 cents a share, wider than analysts had predicted. Sales came in slightly ahead of estimates at $306...

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HTC One combines slick looks and powerful features

NEW YORK (CNNMoney) The 4.7-inch phone is cased with mix of aluminum and polycarbonate, employing a design that's as attractive and well-constructed as any other phone currently available. HTC's device is thin and light, and the screen is plenty big...

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Herbalife raises 2013 guidance, yet reveals SEC inquiry

NEW YORK (CNNMoney) Its fourth quarter results beat profit expectations. It bought back four million shares of its stock over the past month and a half, increased its dividend, and boosted its 2013 forecasts. Yet, the embattled nutritional supplement...

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Wake up, America! China is attacking

This building, in Shanghai's northern suburb of Gaoquio, is the headquarters for Unit 61398 of the Chinese military. Security firm Mandiant has tied this location to hundreds of cyberattacks. NEW YORK (CNNMoney) But many businesses are taking a...

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Burger King Twitter gets McHacked

Burger King's Twitter account was hacked by an apparent fan of McDonald's. NEW YORK (CNNMoney) Two weeks after traces of horse meat were found in beef patties at a European Burger King (BKW) supplier, the burger chain's Twitter account was hacked....

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Reader's Digest parent files for bankruptcy

NEW YORK (CNNMoney) This is the second time in four years that the iconic print magazine has faced bankruptcy. In 2009, its then debt-laden publisher Reader's Digest Association Inc., also filed for bankruptcy. In 2010, the company emerged from bankruptcy...

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A $160,000 jewelry heist at the Four Seasons

Bling, like these pieces from designer Jacob & Company, was taken from the midtown Manhattan Four Season Hotel early Saturday. NEW YORK (CNNMoney) The men walked out of the hotel with two high-end wrist watches, a diamond chain and a pendant...

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Maker's Mark won't water down whiskey, after all

Emerging markets are driving growth in the liquor business, and bourbon, with its sweeter taste, is appealing to consumers in countries like India. NEW YORK (CNNMoney) After an outpouring of outrage, Maker's Mark announced Sunday that it won't...

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