Money

By Hanna Ziady, CNN London (CNN) — The rivalry between Mark Zuckerberg and Elon Musk has just kicked up a notch. Zuckerberg’s Meta, which owns Facebook and Instagram, has teased a new app that is set to take on Twitter by offering a rival space for real-time conversations online. The app is called Threads and

By Ramishah Maruf, CNN New York (CNN) — Americans across the country will celebrate Independence Day with barbeques, fireworks and — for many — a day off from work. The Fourth of July marks the birth of American independence, the day the Declaration of Independence was adopted in 1776. This year, the Fourth of July

By Hanna Ziady and Xiaofei Xu, CNN London/Paris (CNN) — Beijing will impose export controls on two rare elements essential for manufacturing semiconductors, in apparent retaliation after the United States and Europe restricted chip exports to China. Gallium and germanium will be subject to export controls starting August 1 “to protect national security and interests,”

By Chris Isidore, CNN New York (CNN) — Tesla shares shot up 5% Monday after it reported stronger-than-expected quarterly sales. Tesla’s stock is building on an already strong run this year. The EV company reported record sales of 466,000, nearly double the 255,000 it delivered in the year earlier quarter when sales were depressed from

By Chris Isidore, CNN New York (CNN) — The Federal Aviation Administration has certified for testing a vehicle that a California startup describes as a flying car — the first fully electric vehicle that can both fly and travel on roads to receive US government approval. Alef Automotive said that its vehicle/aircraft, dubbed the “Model

By Krystal Hur and Bryan Mena, CNN (CNN) — Wall Street bankers, investors and economists have for months waffled over whether a US recession is coming. But for some Americans, the unforgiving economic pain typical during recession has already set in. Al Brown and his fiancée faced a tough call in May when reviewing their

By Laura He, CNN Hong Kong (CNN) — BYD outpaced Tesla in the second quarter as the Chinese carmaker posted record sales of hybrid and electric vehicles. Between April and June, BYD (BYDDF) sold more than 700,000 vehicles, almost double the number sold in the same quarter last year and setting a new quarterly record.

By Ramishah Maruf, CNN New York (CNN) — Tesla beat expectations in the second quarter of 2023, announcing Sunday it produced nearly 480,000 vehicles and delivered over 466,000. The majority of production and deliveries were the Model 3 sedan and Model Y crossover, with 460,211 produced and 446,915 delivered. The electric car maker produced 19,489

By Parija Kavilanz, CNN New York (CNN) — A local Victoria’s Secret lost $30,000 a month to theft, authorities say. The Cabela’s has reportedly lost more merchandise than any other in the nation. They’re not in San Francisco, Chicago or New York, the way some might assume. They’re in Wichita, Kansas. A pattern of store

By Ashley R. Williams, CNN (CNN) — Jack in the Box announced it opened a pop-up restaurant themed after fellow California legend Snoop Dogg – and no, gin and juice will not be on the menu. The fast-food chain says the restaurant, which is open in Inglewood, will only be running during the July Fourth

By Danielle Wiener-Bronner, CNN New York (CNN) — Chicken made from cultivated cells is officially on the menu at Bar Crenn in San Francisco. But you can’t just walk in and order it. About a week and a half ago, the US Department of Agriculture gave two brands, Upside Foods and Good Meat, approval to

By Ramishah Maruf, CNN New York (CNN) — The largest tobacco manufacturers will have to post eye-catching warning signs about cigarette smoking in over 200,000 stores across America beginning Saturday, one of the final major steps in a lawsuit the Justice Department filed against Big Tobacco in 1999. The signs will be installed in stores

By Chris Isidore, CNN New York (CNN) — A union representing about 160,000 actors has put plans to go on strike against major studios and streaming services on hold. The contract between the actors and an alliance of studios had been due to expire at midnight Friday. But late Friday the Screen Actors Guild-American Federation

By Marshall Cohen, CNN (CNN) — Fox News will pay $12 million to settle a pair of major lawsuits brought by former producer Abby Grossberg, her lawyer said Friday. Grossberg had accused Fox News of pressuring her into giving false testimony in Dominion Voting Systems’ historic defamation case against the network, and of fostering a

By Nathaniel Meyersohn and Jon Passantino, CNN New York (CNN) — ESPN is laying off around 20 high-profile sports commentators as part of a cost-cutting initiative, a source with knowledge of the layoffs told CNN. Among those let go were Max Kellerman, Keyshawn Johnson, Jeff Van Gundy, Jalen Rose and LaPhonso Ellis, the source said.

By Ramishah Maruf, CNN New York (CNN) — Walgreens expects to close 150 locations in the United States and 300 locations in the United Kingdom, Walgreens Boots Alliance CFO James Kehoe said in the company’s earnings call this week. The pharmacy chain reported lower earnings on Tuesday compared to the same quarter last year –

By Clare Duffy, CNN New York (CNN) — Twitter appears to be restricting access to its platform for anyone not logged into an account. People without a Twitter account or who weren’t logged in used to be able to scroll the platform’s homepage and view public accounts and tweets. But as of this week, when

By Peter Valdes-Dapena, CNN Business (CNN) — JD Power’s Initial Quality report, released last week, contained a huge surprise. The top-quality luxury brand wasn’t frequent winner Lexus, a brand famous for ranking at the top of such surveys. This time it was Alfa Romeo, an Italian car with a reputation for excitement – but not

By Liam Reilly, CNN New York (CNN) — Two news directors at a Michigan NBC affiliate were ousted on Thursday following the circulation of an internal memo calling for scaled-back coverage of Pride Month events and directing the station’s journalists to “get both sides” on LGBTQ issues, a source with knowledge of the situation told

By Chris Isidore, CNN New York (CNN) — Some very famous faces could soon be on picket lines as the union representing about 160,000 actors prepares to possibly go on strike against major studios and streaming services. The current contract for the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) expires at 11:59

By Catherine Thorbecke, CNN New York (CNN) — Niantic, the creator of hit mobile game Pokemon Go, announced it is laying off 230 employees and reorganizing its business as it grapples with new macroeconomic uncertainty. In a letter to staff announcing the job cuts, Niantic CEO John Hanke said the company is taking other significant

By Sean Lyngaas, CNN (CNN) — Taiwanese semiconductor giant TSMC confirmed Friday that one of its hardware suppliers was hacked and had data stolen from it, but said the incident had no impact on business operations. Confirmation of the breach came after Russian-speaking cybercriminals claimed TSMC as a victim on Thursday and demanded an extraordinary

By Michelle Toh, CNN Dortmund, Germany (CNN) — Dozens of Europe’s top business leaders have pushed back on the European Union’s proposed legislation on artificial intelligence, warning that it could hurt the bloc’s competitiveness and spur an exodus of investment. In an open letter sent to EU lawmakers Friday, C-suite executives from companies including Siemens

By Jennifer Korn and Nicole Goodkind, CNN New York (CNN) — Apple’s stock ended trading Friday valued at $3 trillion, the only company ever to reach that milestone. It has been riding a Big Tech stock wave that has given the Nasdaq its best first half gain in 40 years. Shares of Apple rose more

By Samantha Delouya, CNN (CNN) — The state of California is about to give movie and TV studios a new lucrative tax perk. A bill awaiting California Gov. Gavin Newsom’s signature would extend the state’s tax incentive program for film and TV productions for five years but with a key update: Studios with more tax

By Laura He, CNN Hong Kong (CNN) — China’s Trip.com, one of the world’s largest online travel agencies, is introducing new childcare subsidies worth 1 billion yuan ($138 million) to encourage its 32,000 employees to have kids. Workers who have been with the company for at least three years will receive an annual bonus of

By Matt Egan, CNN New York (CNN) — The roads will be crowded this Fourth of July weekend, but travelers have at least one thing going for them: much cheaper gas prices than last year. A record-setting 43.2 million Americans are expected to travel by car this holiday weekend, according to AAA. That’s 2.4% higher

by Brian Fung, CNN New York (CNN) — A looming deadline for airlines to retrofit their planes with updated technology could potentially disrupt some flights during one of the heaviest travel weekends of the year. On July 1, wireless carriers such as AT&T and Verizon are set to begin running their 5G cellular networks at

By Matt Egan and Tami Luhby, CNN New York (CNN) — America’s mountain of debt is poised to climb to new heights later this decade even after Republicans and Democrats reached a deal to chip away at the federal deficit. US debt held by the public will climb to a record high of 107% of

Pickleball, America’s fastest-growing sport, is taking a toll on players’ wrists, legs and shoulders. And it’s especially popular with injury-prone seniors, which is driving up the cost burden.

By Matt Egan and Kara Scannell, CNN New York (CNN) — Federal prosecutors arrested three investors on Thursday on insider trading charges related to a deal to take former President Donald Trump’s media business public. According to the indictment, the three individuals together made more than $22 million in October 2021 by illegally trading on

By Hanna Ziady, CNN London (CNN) — Russian assets frozen in European accounts could generate billions of dollars a year for rebuilding Ukraine. But can that money be used without breaching international law or damaging the euro’s international standing? European Union leaders grappled with that question at a meeting of the European Council in Brussels

By Catherine Thorbecke, CNN New York (CNN) — Snap said Thursday that it has garnered more than 4 million paying customers for its subscription service Snapchat+. The news comes on the one-year anniversary of Snap launching the service on its flagship platform, Snapchat, and shows how it is finding some early success in getting users

By Anna Cooban, CNN London (CNN) — Italians were supposed to be on a “pasta strike” this week but it was called off after prices for the national staple started to fall. Zoom out, though, and global food prices are still far higher than a year ago, despite precipitous drops in the cost of key

By Catherine Thorbecke, CNN New York (CNN) — As Silicon Valley and beyond is gripped by the fervor of artificial intelligence, Melinda French Gates is raising the alarm that more women must be involved in developing these tech tools. The philanthropist and longtime advocate for women and girls said she is “very nervous” about how