American Apparel adopts plan to prevent a takeover

NEW YORK (CNNMoney) On Saturday, the company announced that it has adopted a one-year shareholders rights plan in an effort to prevent Charney, or any other person or group, from seizing a controlling interest in the company. The company's "poison...

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Stocks: 2014 half-time report

After a tumultuous start, the S&P 500 has continued its record rise this year. NEW YORK (CNNMoney) While the all-important monthly jobs report comes out on Thursday (a day earlier than usual because of the three-day weekend), there's not...

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Obama's pick to fix veterans affairs tried to fix Procter & Gamble, too

Bob McDonald, a former CEO of Procter & Gamble, is President Obama's nominee for Veterans Affairs secretary. NEW YORK (CNNMoney) Bob McDonald has been in the hot seat before. He took the helm of global consumer products giant Procter &...

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GM's 'culture' blamed for current crisis

NEW YORK (CNNMoney) In an exclusive interview that aired Saturday on CNN's "Smerconish," former GM manager Bill McAleer told host Michael Smerconish that employees who work at GM were "faced with a culture where you get fired if you do talk about...

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Aereo suspends TV service...but not 'shutting down'

NEW YORK (CNNMoney) The court ruling found that Aereo violates copyright law by picking up the signals of local television stations and retransmitting them via the Internet to paying subscribers. "As a result of that decision, our case has been...

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American Apparel adopts plan to prevent a takeover

NEW YORK (CNNMoney) On Saturday, the company announced that it has adopted a one-year shareholders rights plan in an effort to prevent Charney, or any other person or group, from seizing a controlling interest in the company. The company's "poison...

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Red Bull settles with U.S. on Cuba violations claims

Red Bull North America has settled with the U.S. over alleged Cuba sanction violations NEW YORK (CNNMoney) The Treasury Department said Friday that the company has agreed to pay $89,775 over allegations it failed to get authorization from the...

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Aaron Swartz's father: He'd be alive today if he was never arrested

NEW YORK (CNNMoney) Swartz faced multiple charges for breaking and entering into an MIT wiring closet and downloading academic journals, including two counts of wire fraud and 11 counts of violating the Computer Fraud and Abuse Act. Swartz, who was...

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GM: Four more safety recalls, 430,000 cars

GM's recalls continue as the automaker announces four more, affecting nearly 430,000 vehicles in the U.S. NEW YORK (CNNMoney) The recall covers nearly 30,000 air bag inflators in 2013-2014 model year Chevrolet Cruze sedans. GM (GM) says the inflators...

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Millennial-driven housing boom seen on the horizon

NEW YORK (CNNMoney) According to a report released Thursday by Harvard's Joint Center for Housing Studies, as the economy shows signs of improvement, by 2025 Millennials could form 24 million new households and spur a huge comeback in the U.S. real...

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Walmart cuts iPhone prices

Walmart will cut the price of the iPhone on Friday at 9 a.m. NEW YORK (CNNMoney) Walmart said it is cutting the price for both the iPhone 5s and 5c beginning 9 a.m. Friday. With a two-year contract, a 16-gigabyte iPhone 5S will cost $99, coming...

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How much will GM victims get? We'll find out Monday

Feinberg's plan is expected to disclose details about who is eligible for compensation and how much money they could receive. NEW YORK (CNNMoney) The compensation plan will be unveiled by Kenneth Feinberg, a consultant who also determined payouts...

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GM halts sales of some Chevrolet Cruzes

GM has asked dealers to stop selling some 2013-2014 Chevy Cruzes due to an airbag issue. NEW YORK (CNNMoney) There may be a problem with the airbag in some of the vehicles, said GM spokesman Jim Cain. The automaker is currently working with the...

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GoPro prices IPO at high end

NEW YORK (CNNMoney) That's because GoPro is officially going public this week. The consumer electronics company's IPO raise is set to raise roughly $425 million. On Wednesday evening, it priced shares at $24 apiece, the high end of the expected...

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NY Attorney General goes after Barclays

NEW YORK (CNNMoney) The suit claims the British bank misled investors who traded in their off-exchange venues. The bank not only failed to warn clients about the high frequency trading firms operating in its pools, but it "actively sought to attract...

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Danger! American Apparel, Lululemon impale

NEW YORK (CNNMoney) Just look at the controversy swirling around the founders of American Apparel (APP) and Lululemon (LULU). Dov Charney, the ousted chairman of American Apparel, is known for walking around his factory in his underwear and talking...

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In just six months, automakers pass recall record

NEW YORK (CNNMoney) The total number of recalled vehicles crossed the previous record when several automakers announced recalls of 2.8 million cars for faulty airbags. That brought the 2014 running total above 32 million. The previous record of...

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Madoff's accountant pleads guilty

Paul Konigsberg, Bernie Madoff's former accountant, faces up to 30 years in prison. NEW YORK (CNNMoney) Paul Konigsberg, a tax lawyer and accountant, provided services to Madoff and a number of Madoff's clients. Now, he faces up to 30 years in...

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Airbag problems result in millions of recalls

Honda, Nissan, Mazda and Toyota are recalling millions of cars because of faulty inflators for Takata air bags. NEW YORK (CNNMoney) The National Highway Traffic Safety Administration says Honda (HMC), Nissan (NSANF), Toyota (TM), Mazda (MZDAF),...

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American Apparel CEO hits back

NEW YORK (CNNMoney) Dov Charney, the embattled ex-CEO of retailer American Apparel (APP), says he has been approached by company stockholders who have expressed "support for his continued leadership" of the company, according to a filing with the...

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World Cup gets record U.S. ratings

NEW YORK (CNNMoney) The USA-Portugal match on ESPN averaged 18.2 million viewers on Sunday, topping the 11.1 million that tuned in for USA-Ghana on June 16. Another 6.5 million viewers watched a Spanish-language broadcast of the USA-Portugal match...

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From cancer survivor to millionaire

NEW YORK (CNNMoney) The science teacher and textbook author was fighting off a rare and terminal form of cancer as he watched the Great Recession swallow up 40% of his investment portfolio. Friends in finance warned him to dump his stocks because...

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American Apparel's ousted CEO fights back

NEW YORK (CNNMoney) In a letter to the company's board, Glaser, who heads Glaser-Weil's litigation department, claims American Apparel "violated its legal and contractual obligations to Mr. Charney in numerous respects" that have resulted in "substantial...

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Will the Dow crack 17,000 this week?

Click for more market data. NEW YORK (CNNMoney) The Dow Jones industrial average is about 50 points away from crossing 17,000 for the first time ever. The blue-chip average closed at a record high Friday, as did the broader S&P 500 index....

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From cancer survivor to millionaire

NEW YORK (CNNMoney) The science teacher and textbook author was fighting off a rare and terminal form of cancer as he watched the Great Recession swallow up 40% of his investment portfolio. Friends in finance warned him to dump his stocks because...

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Friday Links

NEW YORK (CNNMoney) A weekly collection of design, data and interactive links.Photo/VideoSeismik | Herman Kolgen explores vertical layering dislocations8-Bit 3D Art | Ron Burgundy and Boba Fett rendered in 3D printed pixelsKodama | 20syl's new...

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American Apparel's ousted CEO fights back

NEW YORK (CNNMoney) In a letter to the company's board, Glaser, who heads Glaser-Weil's litigation department, claims American Apparel "violated its legal and contractual obligations to Mr. Charney in numerous respects" that have resulted in "substantial...

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Google hosts all-girl coding party

Actress and producer Mindy Kaling was the host at an event geared toward getting more young girls interested in tech. NEW YORK (CNNMoney) Made With Code aims to address what, according to Google's own research, are the top two reasons women don't...

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Starbucks prices are going up

A tall latte will cost between 15 and 20 cents more after Tuesday. NEW YORK (CNNMoney) On average a drink will cost between 5 and 20 cents more, depending on what you order and where you're making the purchase. The price of a tall or venti...

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Friday Links

NEW YORK (CNNMoney) A weekly collection of design, data and interactive links.Photo/VideoSeismik | Herman Kolgen explores vertical layering dislocations8-Bit 3D Art | Ron Burgundy and Boba Fett rendered in 3D printed pixelsKodama | 20syl's new...

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Which natural disaster will likely destroy your home?

What are the chances your home will get damaged by a tornado, hurricane, earthquake or fire? Click on the map above to find out. NEW YORK (CNNMoney) Alabama, Georgia and Mississippi boast the dubious distinction of having the highest risk of...

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Coach to close 70 stores, stock tumbles

Coach has plunged nearly 37% this year. Click the chart for more information. NEW YORK (CNNMoney) The stock tumbled 9%. The move will shutter about one of every eight North American retail locations it operates. The company will also renovate...

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Damaged home? How to get an insurer to pay up

What are the chances your home will get damaged by a tornado, hurricane, earthquake or fire? RealtyTrac crunched the data in more than 3,000 counties nationwide to find out. NEW YORK (CNNMoney) And now some insurers are looking for ways to limit...

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Ay, caramba! Argentina on verge of default

NEW YORK (CNNMoney) The South American nation might not make its next interest payment that's due by July. Time is short, and Argentina is running out of options, especially after a major court ruling earlier this week went in favor of the creditors....

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Apple leads share buyback binge

Apple was one of the many S&P 500 companies buying back stock in the first quarter. NEW YORK (CNNMoney) The companies in the S&P 500 spent a combined $159.3 billion to buy back their own stock stock during the first quarter of 2014, according...

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The million-dollar app that says 'yo'

The new 'Yo' app revolutionizes communication as we know it with one simple word. NEW YORK (CNNMoney) A new mobile app called Yo lets users interact with friends and contacts in zero characters -- yes zero. And you thought 140 characters was...

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