Money

By Hanna Ziady, CNN London (CNN) — The number of people in work in the United Kingdom has climbed above its pre-pandemic level for the first time, reaching a record high. But that hasn’t plugged worker shortages that are pushing up wages and making Britain’s inflation problem harder to solve. Employment hit a record 33.1

By Laura He, CNN Hong Kong (CNN) — China’s central bank on Tuesday made a surprise cut to one of its key lending rates in a bid to shore up sputtering growth in the world’s second largest economy. The cut to the 7-day reverse repo rate — the first since August last year — will

By Ramishah Maruf, CNN New York (CNN) — Oracle (ORCL) founder Larry Ellison is reaping the benefits of artificial intelligence popularity, edging past Microsoft (MSFT) founder Bill Gates to land the number four spot on the Bloomberg Billionaires Index on Monday, according to Bloomberg. Ellison is now the world’s fourth-richest person, with a staggering $129.8

By Samantha Delouya, CNN (CNN) — Shopping mall operator Westfield said it plans to give up control of the San Francisco Centre mall after more than 20 years of operation in another sign of San Francisco’s economic struggles. The company attributed its decision to the “challenging operating conditions in downtown San Francisco, which have led

By Elisabeth Buchwald, CNN New York (CNN) — May’s closely watched Consumer Price Index showed Tuesday that inflation has been cut by more than half from last year’s peak. On an annual basis, prices rose by 4% compared to a year ago. That’s a significant decline from April, when annual inflation was 4.9%. The slowdown

By Elisabeth Buchwald, CNN New York (CNN) — Treasury Secretary Janet Yellen said it is in the United States’ best interest to maintain ties with China, though she said documented allegations of human rights abuses in China and questionable trade policies need to be “addressed.” “While we surely have concerns that need to be addressed,

By Jeanne Sahadi and Parker Leipzig, CNN (CNN) — Like many adults, a lot of teenagers don’t know what they want to do when they grow up. Even when they think they do, they may not have a realistic grasp of whether a given occupation or job is likely to be economically viable for them

By Anna Cooban, CNN London (CNN) — Goldman Sachs has slashed its forecast for oil prices by nearly 10%, citing weak demand in China and a glut of supply from sanctioned countries, including Russia. The Wall Street bank now thinks Brent crude, the global oil benchmark, will cost $86 a barrel in December, compared with

By Chris Isidore, CNN New York (CNN) — The Teamsters union is holding a vote right now among more than 330,000 members to authorize a strike against UPS. If UPS workers strike, it would be the largest single-employer strike in US history. And it could take place in less than eight weeks. A strike could

By Michelle Toh and Gawon Bae, CNN Hong Kong/Seoul (CNN) — South Korean prosecutors have indicted a former Samsung executive for allegedly working with competitors who tried to build a copycat semiconductor factory in China. In a Monday statement, the Suwon district prosecutor’s office said it had charged a 65-year old former employee of what

By Ramishah Maruf, CNN New York (CNN) — A section of northbound I-95 in Philadelphia collapsed Sunday after a tanker truck caught fire underneath the highway. The southbound side is also “compromised by heavy fire,” city officials said Sunday. I-95 is an important artery for not only the East Coast, but for regional transportation and

By Hanna Ziady, CNN London (CNN) — UBS has finalized its emergency takeover of fallen rival Credit Suisse, creating a giant Swiss bank with nearly $1.7 trillion in assets in the biggest banking tie-up since the 2008 global financial crisis. The legal closure of the acquisition “brings clarity and stability for the two banks,” Switzerland’s

By Harmeet Kaur, CNN (CNN) — When thousands of Egyptians marched through the streets during the Arab Spring of 2011, they had a tool at their disposal that earlier social movements didn’t: Twitter. A key group of activists used the platform to form networks and organize protests against the authoritarian regime, while many more demonstrators

By Catherine Thorbecke, CNN (CNN) — Three years after Silicon Valley companies led the charge for embracing remote work in the early days of the pandemic, the tech industry is now escalating the fight to bring employees back into the office -— and igniting tensions with staff in the process. Google, which has long been

By Ashley R. Williams, CNN (CNN) — If you possess a passion for pizza, cheese and all things dairy, your taste buds may be in luck. The University of Wisconsin-Madison’s Center for Dairy Research is looking to hire a descriptive sensory panelist – in other words, a dairy taste tester – to join “a group

By Nathaniel Meyersohn, CNN New York (CNN) — President Joe Biden’s administration is set to allow New York City to move forward with a landmark program that will toll vehicles entering Lower Manhattan, after a public review period ends Monday. The toll is formally known as the Central Business District Tolling Program — but it’s

By Christopher Hickey, CNN Home Depot and Lowe’s are known for being a one-stop destination for do-it-yourself projects. But in recent years, they’ve both expanded into a different kind of home improvement: “soft DIY.” Experts say the expansion into this category — from vases and decorative pillows to artificial flowers and candles — shows a

By Jennifer Korn New York (CNN) — When Apple unveiled its ambitious and very pricey new mixed reality headset earlier this week, executives ticked through a long list of impressive specs, teased big name partnerships and showed off a perfectly produced promo video. But there was one thing Apple’s execs did not do during the

By Ramishah Maruf, CNN New York (CNN) — Blue Apron (APRN), the home meal kit delivery service, paid off its debts and plans to streamline its business with job cuts, restructuring and a sale of assets to fellow meal company FreshRealm. The crowded meal-kit business has suffered post-pandemic, so Wall Street reacted enthusiastically to the

By Anna Bahney, CNN Washington, DC (CNN) — Middle income home buyers in the United States are finding little on the market to buy, even if they can qualify and afford a mortgage. These would-be buyers face the most severe housing shortage of any other income bracket, according to a new analysis from the National

By Michelle Toh and Yoonjung Seo, CNN Hong Kong/Seoul (CNN) — Sam Altman, the CEO of ChatGPT maker OpenAI, used a high-profile trip to South Korea on Friday to call for coordinated international regulation of generative artificial intelligence, the technology that underpins his famous chatbot. “As these systems get very, very powerful, that does require

By Anna Cooban, CNN London (CNN) — The UK government plans to scrap its windfall tax on oil and gas companies if energy prices fall below certain levels, abolishing a levy that has raised around £2.8 billion ($3.5 billion) since it was introduced a year ago. The country’s finance ministry announced Friday that it would

By Laura He, CNN Hong Kong (CNN) — China’s cyberspace regulator plans to issue new rules clamping down on the use of wireless file sharing functions such as Bluetooth and Apple’s AirDrop on national security grounds. The move comes after protesters in China used AirDrop during anti-government protests in October 2022 to share content, bypassing

By Oliver Darcy, CNN Business New York (CNN) — The attacks on the rule of law have begun. Moments after news broke on Thursday that disgraced former President Donald Trump had been indicted on federal charges, Fox News and the rest of the MAGA Media universe revved up into attack mode, denigrating the U.S. justice

By Oliver Darcy, CNN Business New York (CNN) — Raj Shah, the Fox Corp. brand protection executive who pushed Fox News in an even more pro-Trump direction after the 2020 election, has left the company. “Raj brought talent and creativity to his role at Fox,” Fox spokesperson Brian Nick told CNN on Thursday. “We appreciate

By Matt Egan, CNN Business New York (CNN Business) — During a closed-door meeting with business leaders on Thursday, Treasury Secretary Janet Yellen stressed that the United States wants to work with China on urgent global challenges, a person familiar with the matter told CNN. The comments by Yellen signal increased efforts by US officials

By Samantha Delouya, CNN (CNN) — General Motors electric vehicle owners can soon access Tesla’s vast network of electric vehicle fast chargers, called Superchargers, both companies announced Thursday. GM said it will begin to integrate Tesla’s charging ports, dubbed the North American Charging Standard (NACS), into new EVs in 2025. “Not only will it help

By Nicole Goodkind, CNN New York (CNN) — Wall Street is feeling bullish again. The S&P 500 rallied Thursday to end the day in a bull market, marking a 20% surge since its most recent low, reached on October 12, 2022. That brings to end the bear market that began in January 2022. Buoyed by

By Brian Fung, CNN (CNN) — Louisiana lawmakers have sent a bill to the state’s governor that would require online platforms to obtain a parent’s consent before creating an account for users under 18, the latest in a raft of legislation restricting digital services for kids and teens. The legislation, known as HB61, covers a

By Jennifer Korn New York (CNN) — For a brief moment last month, an image purporting to show an explosion near the Pentagon spread on social media, causing panic and a market sell-off. The image, which bore all the hallmarks of being generated by AI, was later debunked by authorities. But according to Jeffrey McGregor,

By Alicia Wallace, CNN Minneapolis (CNN) — US companies wary about their economic prospects are battening down the hatches. Recent job market data shows more and more businesses have taken to “labor hoarding” and maintaining headcounts even as demand softens. Hiring has scaled back and so have layoffs (to an extent), as firms try to

By Brian Fung, CNN (CNN) — US officials have long insisted the Chinese government may be able to view the personal information of TikTok users — but that claim was purely speculative. Until now. In what appears to be a first, a former employee of ByteDance, TikTok’s Beijing-based parent company, has outlined specific claims that

By Kristina Sgueglia, CNN (CNN) — The Federal Aviation Administration delayed flights into New York and Newark, New Jersey, and it briefly halted flights bound for Philadelphia International Airport and New York’s LaGuardia airport, as smoke from Canadian wildfires continues to spread across the northeastern United States. The so called ground stop required planes scheduled

By Olesya Dmitracova, CNN London (CNN) — The 20 countries that use the euro fell into a mild recession around the turn of the year, as high inflation discouraged consumer spending and governments tightened the purse strings. In the first three months of the year, economic output in the eurozone dropped 0.1% compared with the

By Philip Wang, CNN (CNN) — Bilateral trade between Russia and China totaled more than $93.8 billion from January to May in 2023, a 40.7% increase compared to the same period last year, data from China’s General Administration of Customs showed. The data published on Wednesday also showed that China’s exports to Russia have reached

By Jeanne Sahadi, CNN New York (CNN) — If you do business with a bank or other financial service provider, chances are you may have dealt with “chatbots” at some point when you have a question about your account or are trying to remedy a problem. Those bots, cheaper than humans and sometimes incorporating artificial

By Brian Fung, CNN Washington (CNN) — The US Senate is inching forward on a plan to regulate artificial intelligence, after months of seeing how ChatGPT and similar tools stand to supercharge — or disrupt— wide swaths of society. But despite outlining broad contours of the plan, senators are still likely months away from introducing

By Jordan Valinsky, CNN Business New York (CNN) — A distracted ship operator was texting on his phone instead of doing his lookout duty when two large ships collided off the coast of Louisiana last July, a federal agency investigation has found. The collision — which occurred in “good visibility, daylight and fair-weather conditions” —

By Sean Lyngaas, CNN (CNN) — A group of Russian-speaking cyber criminals has claimed credit for a sweeping hack that has compromised employee data at the BBC and British Airways and left US and UK cybersecurity officials scrambling to respond. The hackers, known as the CLOP ransomware gang, say they have “information on hundreds of