Money

By Anna Cooban, CNN Investors are nervously awaiting the outcome of Turkey’s presidential race in a runoff vote on May 28. They sent stocks tumbling Monday and pushed the value of its currency down to a new record low against the US dollar. Turkey’s benchmark BIST-100 index sank as much as 6.4% in pre-market trade

By Julia Horowitz, CNN Questions swirl about the strength of China’s recovery from Covid lockdowns, and there’s talk of recession in the United States. Yet Europe’s economic prospects have brightened in recent months, according to the European Commission. The EU’s executive arm on Monday upgraded its growth outlook for 2023 and 2024. It now expects

By Hanna Ziady, CNN Vice Media filed for Chapter 11 bankruptcy protection Monday to facilitate a sale of the company and safeguard its future, according to court documents and a statement from the struggling media group. The company, which publishes news, technology and lifestyle websites such as Vice, Motherboard and Refinery29, made the filing in

By Nectar Gan, CNN A heated online debate on the definition of sexual harassment has broken out in China in the wake of a series of allegations made against an influential screenwriter, rekindling interest in the country’s struggling #MeToo movement. Shi Hang, 52, a well-known figure in China’s media and literary circles, lost work with

By Zenebou Sylla and Artemis Moshtaghian, CNN A wrongful death lawsuit filed against several social media companies Friday alleges that social media lent to the radicalization of the gunman who shot and killed 10 people at a grocery store in Buffalo, New York, last May. The lawsuit alleges that the then 18-year-old Payton Gendron “was

By Ramishah Maruf, CNN An ex-ByteDance employee claimed he was wrongfully terminated after raising concerns about what he believed were illegal practices by the company, such as allegedly stealing content from its competitors Snapchat and Instagram. Yintao “Roger” Yu, who filed a lawsuit in Superior Court in San Francisco earlier this month, worked at ByteDance,

By Nathaniel Meyersohn, CNN Pickleball is coming to your local mall, replacing shuttered Bed Bath & Beyond, Old Navy, and Saks Off 5th stores. It may seem like a strange strategy, but the match offers benefits to both mall owners and pickleball players. Malls need new tenants to fill vacant spaces and draw customers beyond

By Ramishah Maruf, CNN The National Highway Traffic Safety Administration is calling for an immediate recall of 67 million airbag inflators due to a dangerous defect, the agency said in a letter to ARC Automotive, a major manufacturer of the component. But the automotive supplier that made the component is disputing the need for it

By Ramishah Maruf, CNN A South Florida jury returned a split verdict in a civil lawsuit filed against McDonald’s and one of its franchisees that alleged “dangerously hot” chicken nuggets from a Happy Meal burned a toddler, according to CNN affiliate WPLG. The jury on Thursday found that McDonald’s and franchise owner Upchurch Foods liable

By Matt Egan and Bryan Mena, CNN President Joe Biden on Friday nominated economist and World Bank official Adriana Kugler to join the Federal Reserve’s powerful Board of Governors and Philip Jefferson to be the central bank’s vice chair. If confirmed, Kugler, a Colombian-American, would be the first Latino to serve on the Fed board,

By Anna Cooban, CNN The United Kingdom’s economy limped along in the first quarter of this year as consumers spent less on services and strike action took its toll. The country’s gross domestic product (GDP) ticked up 0.1% in the first three months of 2023, compared with the previous quarter, data from the Office for

By Laura He, CNN China’s carbon emissions will likely hit a new record in 2023 on the back of an economic rebound, but a rapid expansion in green energy will enable its emissions to peak soon, a global energy think tank said on Friday. China, the world’s largest emitter of greenhouse gas, saw its carbon

By Michelle Toh, CNN Australia’s trade chief has arrived in China to lobby for the removal of curbs from its top trading partner, three years after relations soured when the previous administration in Canberra called for an investigation into the origins of Covid-19. Trade Minister Don Farrell arrived in Beijing on Thursday for a three-day

By Oliver Darcy, CNN America’s most-watched PBS station is on the verge of going dark. The Republican governor of Oklahoma, Kevin Stitt, recently vetoed a bill that would have renewed the license and provided millions in funding for the Oklahoma Educational Television Authority, the statewide PBS network that reaches more than 650,000 viewers a week.

By Vanessa Yurkevich, CNN Victoria Abraham graduated from New York University last year, ready to enter the job market. She is a self-proclaimed “fat activist” who has found her voice as a content creator online, but has concerns about applying for new job. “Walking into a job interview as a fat person, I’m already at

By Jordan Valinsky, CNN Business Peloton is recalling 2 million bikes because of a safety hazard caused by the adjustable seat that could break during use and injure the rider. The US Consumer Product Safety Commission issued the recall Thursday, telling owners of Peloton bikes with model number PL-01 to stop using the bike immediately.

By Hanna Ziady, CNN The Bank of England raised interest rates by a quarter of a percentage point Thursday in its battle with inflation and said the UK economy would dodge a recession as energy prices fall. The decision to impose a 12th consecutive hike takes the main borrowing rate for commercial banks in the

By Emiko Jozuka, CNN US Treasury Secretary Janet Yellen urged Congress on Thursday to raise its debt ceiling, warning that a US default would produce an “economic and financial catastrophe” that would trigger a global economic downturn and risk undermining the country’s ability to provide global leadership. “A default would threaten the gains that we’ve

By Nadine Schmidt and Hanna Ziady, CNN Two men have died after a shooting at a Mercedes-Benz plant in Sindelfingen, southern Germany on Thursday, police and the company said. The perpetrator, a 53-year old man, has been arrested and there is no longer any danger to employees at the plant, the Ludwigsburg police said on

By Laura He, CNN China has appointed the head of its powerful new financial watchdog, which was created as part of sweeping reforms aimed at reining in the $60 trillion industry. Li Yunze, a career banker working for decades at China’s state-owned lenders, will become the Communist Party chief of the National Financial Regulatory Administration

By Jessie Yeung and Manveena Suri, CNN Police in northern India have arrested five suspects in connection with a series of homemade bomb explosions this week near Amritsar’s Golden Temple, the holiest shrine in Sikhism. Gaurav Yadav, police deputy commissioner in the state of Punjab, told a news conference Thursday that the blasts on May

By Laura He, CNN Deflationary pressure in China is worsening as consumer prices increased at their slowest pace in two years, suggesting weakness in domestic demand and raising questions about the strength of the economic rebound. The consumer price index rose by just 0.1% in April from a year ago, the lowest rate of inflation

By Oliver Darcy, CNN A prominent disinformation researcher who became the target of Fox News last year filed a defamation lawsuit against the right-wing network on Wednesday, accusing it of a “malicious campaign of destruction” and adding to the channel’s growing legal problems. The researcher, Nina Jankowicz, briefly served in the Biden administration as head

By Hanna Ziady, Jessie Gretener and Niamh Kennedy, CNN The publisher of UK tabloid the Daily Mirror has apologized to Prince Harry for using unlawful methods to gather information about his private life. In court documents published Wednesday on the first day of a phone hacking trial, Mirror Group Newspapers, which is now owned by

By Elisabeth Buchwald, CNN Inflation is lower than it was a year ago. But you may not be feeling any less frustrated when you pay your bills. That’s because prices across all goods and services haven’t actually gone down. Instead, the pace of price increases slowed from a year ago. Overall, prices are still high

By Anna Cooban, CNN Ten million Americans watched the coronation of Britain’s King Charles III on TV, most of them aged 55 or over. An average of 10.3 million people in the United States tuned in for the events in London on Saturday, according to estimates from media data company Nielsen, which tracked audiences across

By Matt Egan, CNN Wall Street is betting the Federal Reserve will reverse course and begin slashing interest rates as soon as this summer. Billionaire David Rubenstein is warning that would be a mistake. “It’s premature to have rate cuts this summer,” Rubenstein, the co-founder and co-chairman of The Carlyle Group, told CNN on Monday.

By Anna Bahney, CNN When Minneapolis real estate agent Darisha Hill listed a three-bedroom, one-bath, 1924 bungalow on a Friday afternoon at the end of April, she scheduled open houses for both Saturday and Sunday to attract buyers. By Saturday evening the homeowners had received so many offers — a total of 25 bids, all

By Oliver Darcy, CNN Business CNBC said on Tuesday that it will part ways with Hadley Gamble, the anchor and senior international correspondent who filed a sexual harassment complaint that led to the firing of NBC Universal chief executive Jeff Shell. “Gamble has been a distinguished journalist for more than a decade for CNBC, undertaking