Money

By Bryan Mena, CNN Washington, DC (CNN) — Spending at US retailers rose in June for the third month in a row, in a subdued show of resilience from American consumers. Retail spending, which is adjusted for seasonality but not inflation, rose 0.2% in June, the Commerce Department reported Tuesday. That was a slower pace

By Chris Isidore, CNN New York (CNN) — How many actors does it take to make the movies and shows produced by studios and streaming services? SAG-AFTRA, the actors union that has had 160,000 members on strike since last week, is afraid that artificial intelligence will lead to far fewer employed actors in the future.

By Jordan Valinsky, CNN Business New York (CNN) — Peacock, the NBCUniversal-owned streaming service, is getting its first-ever price hike. Beginning immediately, new users will have to pay $5.99 monthly for a premium subscription (up from $4.99) and $11.99 per month for its premium plus tier, which is mostly ad-free, up from $9.99. An annual

By Hanna Ziady, CNN London (CNN) — More than 230 economists and political leaders have called on the United Nations and the World Bank to do more to tackle the widening gap between the rich and poor around the world, a problem they say many governments are ignoring. In an open letter published Monday and

By Caolán Magee, CNN (CNN) — A first-edition 2007 Apple iPhone has sold for more than $190,000 at auction, far exceeding the estimate. Dubbed the “Holy Grail” by auctioneer LCG Auctions, the 4GB model was expected to fetch in the region of $50,000-$100,000. But after attracting 28 bids online, the phone’s value quickly rose and

By Brian Fung and Sean Lyngaas, CNN (CNN) — The next time you’re in the market for a smart TV, fitness tracker or other connected gadget, you could see a new US government-backed label identifying some products as being particularly hardened against hackers. On Tuesday, the Biden administration announced it’s moving to implement a cybersecurity

By Laura He, CNN Hong Kong (CNN) — Evergrande Group, the world’s most indebted property developer, has posted long-delayed financial results as a key part of its debt restructuring, which is shaping up to be one of the largest in Chinese corporate history. The company reported losses attributable to shareholders of 476 billion yuan ($66

By Krystal Hur, CNN New York (CNN) — Angelo Mozilo, former chief executive of Countrywide Financial and a key player in the subprime mortgage meltdown that led to the 2008 financial crisis, died Sunday. “It is with great sadness that the family of Angelo Robert Mozilo announces his passing from natural causes. The family requests

By Elisabeth Buchwald, CNN New York (CNN) — Even though inflation is cooling, drivers can’t seem to catch a break. Just about everything besides gas is costing car owners more. And if you depend on your car to get around, the price increases are likely inescapable. For instance, car repairs are up 20% compared to

By Marshall Cohen, CNN (CNN) — Trump allies Michael Flynn and Steve Bannon have been subpoenaed by Smartmatic as part of the voting technology company’s massive defamation lawsuits against Fox News and Newsmax over their promotion of 2020 election lies. Court filings made public last week in New York and Delaware indicate that Flynn and

By Bryan Mena, CNN Washington, DC (CNN) — Some Federal Reserve officials are already advocating for two consecutive rate hikes starting this month to ensure inflation’s defeat, but will their sway hold amid a shakeup at the Fed committee that decides interest rates? Probably. St. Louis Fed President James Bullard, the Fed’s most hawkish voice,

By Justin Gamble, CNN (CNN) — AmeriCorps recovered a record $84 million in overlooked deductions, credits and tax breaks for low-income Americans in the 2023 tax season, the federal agency announced Friday. The organization for volunteerism and national service, created by President Bill Clinton in 1993, assisted in aiding over 113,000 taxpayers in more than

By Jordan Valinsky, CNN Business New York (CNN) — To witness Lionel Messi make his US debut might require a payday as big as his. Tickets for his expected first match on Friday for Inter Miami in the Leagues Cup are selling as much $110,000, according to a search on ticket reselling website Vivid Seats.

By Nicole Goodkind, CNN New York (CNN) — Bulls and bears have always engaged in battle on Wall Street. But both sides are becoming more extreme, and the divide between so-called “bulls” and “bears” — optimistic investors who forecast rising stock prices and pessimistic investors who expect declining stock prices — is growing wider. In

By Hanna Ziady and Mariya Knight, CNN London/Atlanta (CNN) — Moscow has seized control of the Russian subsidiaries of French yogurt maker Danone and Danish brewer Carlsberg, highlighting risks facing foreign firms that continue to do business in the country. In a decree signed by Russian President Vladimir Putin Sunday, foreign-owned stakes in Danone’s Russia

By Larry Madowo, CNN Nairobi, Kenya (CNN) — Former employees of Twitter Africa who were laid off as part of a global cost-cutting measure after Elon Musk’s acquisition have not received any severance pay more than seven months since leaving the company, several sources told CNN. In late May, the former employees, who were based

By Laura He, CNN Hong Kong (CNN) — China’s economic recovery continued to lose steam in the second quarter of 2023, prompting urgent calls for more stimulus from Beijing. The world’s second largest economy expanded by 6.3% in the April to June months from a low base a year ago, according to data released by

By Danielle Wiener-Bronner, CNN New York (CNN) — America’s age-old love affair with ice cream appears to be winding down. Consumption of regular dairy ice cream, which does not include frozen yogurt, sherbet or non- and low-fat ice creams, has been falling for years, according to the US Department of Agriculture. In 1986, the average

By Ramishah Maruf, CNN New York (CNN) — United Airlines pilots, represented by the Air Line Pilots Association, reached a deal in principle with the airline, giving the pilots up to a 40% raise, the union confirmed to CNN Saturday. The deal has about $10 billion in value over the life of the contract, the

By Ramishah Maruf, CNN New York (CNN) — Elon Musk disclosed on Twitter Saturday that, due to a 50% drop in advertising revenue and a “heavy debt load,” the platform still has a negative cash flow. The billionaire owner tweeted Saturday, in response to business advice from a follower, “Need to reach positive cash flow

By Ramishah Maruf, CNN New York (CNN) — Tesla finally built its first Cybertruck, the company tweeted Saturday, two years behind schedule. The electric car company tweeted an image of workers in hard hats surrounding the sleek Cybertruck, which it said was built at its Gigafactory near Austin, Texas. Tesla revealed the prototype for the

by Ellie Stevens (CNN) — Midsummer is the peak of juicy peach season in the state of Georgia. But, recently, the Peach Cobbler Factory in Atlanta ran out of peaches and was forced to pivot to… apple cobbler. The Peach State lost more than 90% of this year’s crop after a February heat wave followed

By Anna Stewart, Anna Cooban and Livvy Doherty, CNN London (CNN) — A rising number of British stores are using a facial recognition system powered by artificial intelligence to identify repeat shoplifters in what one human rights group has called the spread of “airport-style security” on the high street. Simon Gordon, founder of UK surveillance

By Ramishah Maruf, CNN New York (CNN) — The US Virgin Islands is seeking $190 million in penalties and disgorgement from JPMorgan Chase and requesting that it implement safeguards against human trafficking in its ongoing case alleging the bank benefited financially from disgraced financier Jeffrey Epstein’s sex trafficking operation and failed to report suspicious financial

By Elisabeth Buchwald, CNN New York (CNN) — Bank of America was fined $250 million this week by US federal regulators for allegedly harming customers by double-dipping on fees, withholding credit card rewards and opening fake accounts. Of those fines, $100 million is set to go directly to consumers who were impacted by the bank’s

Ellie Stevens (CNN) — Three graphic designers are suing Chinese fast-fashion giant Shein over what they allege is “egregious” copyright infringement and racketeering. In the lawsuit, which was filed in a California federal court Tuesday, the designers allege Shein produced and sold exact copies of their designs. They claim Shein uses “secretive algorithms” to determine

By Brian Fung and Sean Lyngaas, CNN Washington (CNN) — A federal judge’s move to limit how some US agencies communicate with social media companies could have a “chilling effect” on how the federal government and states address election-related disinformation just as the 2024 election cycle gets underway, according to interviews with current and former

By Chris Isidore and Chloe Melas, CNN New York (CNN) — Actors hit picket lines Friday in their first strike against film and TV productions since 1980 and the nation’s largest strike since 1997. There are 160,000 members of SAG-AFTRA, the union representing everyone from A-list stars to struggling actors working other jobs while awaiting

By Michelle Toh, Juliana Liu and Teele Rebane, CNN Hong Kong (CNN) — A corruption investigation in Singapore has expanded to include Ong Beng Seng, a hotel tycoon best known for bringing the Formula 1 Grand Prix to the wealthy city state. Ong, managing director of Hotel Properties Limited, was arrested last Tuesday, along with

By Laura He, CNN Hong Kong (CNN) — China has published new rules for generative artificial intelligence (AI), becoming one of the first countries in the world to regulate the technology that powers popular services like ChatGPT. The Cyberspace Administration of China, the country’s top internet watchdog, unveiled a set of updated guidelines on Thursday

By Jessie Yeung and Manveena Suri, CNN New Delhi (CNN) — A major river overflowing near India’s capital has reached the highest level on record, authorities said, prompting mass evacuations and causing havoc with water supplies as northern states report rising deaths from heavy flooding. A tributary of the mighty Ganges River, the Yamuna River

By Michelle Toh, CNN Hong Kong (CNN) — Wipro, one of India’s top providers of software services, wants everyone on staff to know how to use artificial intelligence. The IT giant announced Wednesday it would spend $1 billion on improving its artificial intelligence capabilities over the next three years, including training its entire staff of

By Rhea Mogul, Sania Farooqui and Manveena Suri, CNN (CNN) — India is bidding to become only the fourth country to execute a controlled landing on the moon with the successful launch Friday of its Chandrayaan-3 mission. Chandrayaan, which means “moon vehicle” in Sanskrit, blasted off from the Satish Dhawan Space Center at Sriharikota in

By Samantha Delouya and Natasha Chen, CNN Los Angeles (CNN) — Long lines and jam-packed crowds tend to go hand in hand at Central Florida’s world-famous theme parks during the summer months, but Walt Disney World and Universal Orlando parkgoers may be in for a reprieve this season. Wait times for rides and attractions at