Money

By Anna Cooban, CNN London (CNN) — Royal Mail dates back to the Tudors. It has been operating a postal service in England since the reign of Henry VIII. Now this most British of institutions is on the brink of being sold to a Czech billionaire, Daniel Křetínský, raising fears about the fate of thousands

By Diksha Madhok, CNN (CNN) — Microsoft has asked at least 100 of its employees in China to consider moving to other countries, according to Chinese state media reports. The reports come as relations between Beijing and Washington deteriorate over technologies like artificial intelligence (AI) and clean energy. Microsoft employees, mostly involved with cloud computing,

By Sean Lyngaas, CNN Washington (CNN) — A pair of recent ransomware attacks crippled computer systems at two major American health care firms, disrupting patient care and exposing fundamental weaknesses in the US health care system’s defenses against hackers. In both cases, federal officials and private cyber experts scrambled to try to limit the damage

By Jordan Valinsky, CNN New York (CNN) — The Mirage Hotel and Casino on the Las Vegas Strip, and its instantly recognizable volcano, is soon shutting down after more than three decades in business. The 3,000-room resort will cease operations on July 17 as it undergoes a three-year renovation that wipes away any markings of

By Laura He, CNN Hong Kong (CNN) — Chinese stocks surged on Thursday after officials in a major city announced plans to buy unsold homes in what some analysts believe could be a trial run for a much bigger solution to the country’s property crisis. Hong Kong’s benchmark Hang Seng Index closed up 1.6%, hitting

By Hanna Ziady, CNN London (CNN) — The chorus of voices warning about the dangers of record US government debt is growing louder. In the past 24 hours, JPMorgan (JPM) CEO Jamie Dimon and Ray Dalio, founder of the world’s biggest hedge fund, have weighed in with concerns about America’s debt pile. In an interview

By Matt Egan and Kayla Tausche, CNN New York (CNN) — US Trade Representative Katherine Tai raised eyebrows this week by dismissing concerns that President Joe Biden’s new tariffs on China would increase prices for US customers like the Trump-era tariffs on China did. “First of all, I think that that link, in terms of

By Reuters Tokyo (Reuters) — Japan’s economy contracted in the first quarter, squeezed by weaker consumption and external demand and throwing a fresh challenge to policymakers as the central bank looks to lift interest rates away from near-zero levels. Preliminary gross domestic product (GDP) data from the Cabinet Office on Thursday showed Japan’s economy shrank 2.0% annualized in the January

By Samantha Delouya, CNN (CNN) — The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year. Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the

By Shawn Nottingham, CNN (CNN) — The president of Florida A&M University admits “misteps were made” in the handling of a purported $237 million stock gift to the school from a Texas businessman following concerns over the actual value of the donation. Dr. Larry Robinson told the university’s board of trustees at a special meeting,

By Rosa de Acosta and Simone McCarthy, CNN Hong Kong (CNN) — As countries around the world ramped up sanctions on Russia in the wake of Vladimir Putin’s invasion of Ukraine in February 2022, it became clear that the Russian president still had a powerful friend in Xi Jinping. The Chinese leader, who declared a

By Nicole Goodkind, CNN New York (CNN) — Retirement is expensive, and more Americans see spending their later years abroad as a good option to stretch their savings and improve their quality of life. The number of Social Security recipients living outside the US increased from 307,000 in 2008 to more than 450,000 in 2022.

By Clare Duffy, CNN New York (CNN) — Uber wants to make it cheaper to get a ride to the airport, concerts or sporting events. The rideshare company on Wednesday announced the launch of Uber Shuttle, an offering that will let users book up to five seats in a shuttle from a central location to

By Brian Fung and Clare Duffy, CNN New York (CNN) — Another wealthy investor says he’s organizing a bid to purchase TikTok, after President Joe Biden signed a law last month forcing TikTok to find a new owner or be banned in the United States. Frank McCourt, a real estate billionaire and the former owner

By Brian Fung, CNN (CNN) — Federal legislation to govern artificial intelligence took another step closer to reality on Wednesday as Senate Majority Leader Chuck Schumer, along with a bipartisan trio of senators, announced a sprawling blueprint to shape how congressional committees tackle the technology in forthcoming bills. The 31-page roadmap released this week calls

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. The A.I. doomsday clock appears ready to strike midnight for publishers. Google on Tuesday announced that it will infuse its ubiquitous search engine

By Matt Egan, CNN New York (CNN) — Some progressives have frequently blamed corporate greed for fueling the high cost of living that Americans are fed up with. Yet new research from the Federal Reserve Bank of San Francisco casts doubt on the greedflation theory. Economists at the SF Fed found that corporate price gouging

By Kathleen Magramo, CNN (CNN) — YouTube has blocked access to a popular protest song in Hong Kong, a week after a court in the city granted a government request to ban the anthem. In a statement on Wednesday, YouTube said 32 web links playing “Glory to Hong Kong” have been geoblocked and are now

By Tami Luhby, CNN (CNN) — If you think the rent is too damn high, wait until you get the bill for child care. Parents with two kids in a child care center paid on average at least twice as much for that care as they did for the typical rent in 11 states and

By Samantha Delouya, CNN (CNN) — OpenAI’s chief scientist and cofounder, who played an instrumental role in CEO Sam Altman’s short-lived ouster from OpenAI in November, announced that he was leaving company on Tuesday. “After almost a decade, I have made the decision to leave OpenAI,” Ilya Sutskever said in a social media post. “I

By Evan Perez, CNN (CNN) — The US Justice Department on Tuesday notified Boeing that it breached terms of its 2021 agreement in which the company avoided criminal charges for two fatal 737 Max crashes. After a series of safety missteps earlier this year, including a door plug that blew off an Alaska Airlines flight shortly after

By Alicia Wallace, CNN (CNN) — Countries have long imposed tariffs as a means of protecting and shoring up domestic industries. However, history and research have shown that the economic effects often fail to live up to the hype. On Tuesday, the Biden administration announced the latest iteration of American import taxes: a wave of

By Parija Kavilanz, CNN New York (CNN) — Walmart said Tuesday it is eliminating several hundred corporate jobs and will relocate most of its remaining remote office staff to its Bentonville, Arkansas, headquarters. Walmart confirmed the move in a memo sent by Donna Morris, its chief people officer, to employees on Tuesday and obtained by

By Peter Valdes-Dapena, CNN (CNN) — The National Highway Traffic Safety Administration is investigating two autonomous driving companies following incidents in which the vehicles behaved erratically and sometimes disobeyed traffic safety rules or were involved in crashes. The investigations involve Waymo, the self-driving technology subsidiary of Google’s parent company Alphabet, as well as Zoox, the

By Gregory Wallace, CNN (CNN) — Despite a surge in hiring last year, air traffic control stations nationwide are still about 3,000 controllers short, according to new Federal Aviation Administration numbers. The numbers, first reported by CNN, show the challenge of filling the gap that led to flight delays and concerns that fatigue contributed to a

By Samantha Murphy Kelly, CNN (CNN) — A day after OpenAI impressed with a startlingly improved ChatGPT AI model, Google showed off an equally stunning vision for how AI will improve the products that billions of people use every day. The updates, announced at its annual Google I/O developer conference, come as the company is

By Elisabeth Buchwald, CNN New York (CNN) — After another reading of hotter-than-expected inflation, you’d think Federal Reserve Chair Jerome Powell might be getting a little worried that the battle will go on much longer than expected. But Powell, for the most part, isn’t stressing ahead of Wednesday’s crucial Consumer Price Index data set to

By Jordan Valinsky, CNN New York (CNN) — “Jeopardy!,” the 60-year-old game show, is entering its streaming era. Amazon’s Prime Video has ordered a spin-off of the classic, called “Pop Culture Jeopardy!,” which marks the first-time “Jeopardy!” has created a version exclusively for a major streaming service. It’s a “brand-new twist” on the show, Amazon

By Alicia Wallace, CNN (CNN) — The economy has been resilient, the job market healthy and consumers keep spending, but more Americans are becoming financially overextended — especially on their credit cards. New data released Tuesday by the Federal Reserve Bank of New York showed that as household debt balances grew during the first quarter,

By Clare Duffy, CNN New York (CNN) — Amazon’s biggest moneymaker, Amazon Web Services, is getting a new leader. Adam Selipsky, the chief executive of the cloud computing unit, will step down from his role next month, the company announced Tuesday. Selipsky, who first joined AWS in 2005 — before its services were even publicly

By Hadas Gold, CNN (CNN) — Sam Feist, CNN’s longtime Washington bureau chief and senior vice president, is departing the network to lead the nonprofit public affairs channel C-SPAN, the networks announced Tuesday. Feist has been an integral part of CNN’s Washington operations for nearly two decades, previously serving as CNN’s political director and vice

By Alicia Wallace, CNN (CNN) — Americans already contending with persistent and stubbornly high inflation just got more unwelcome news on Tuesday: There are more price hikes likely coming down the pike. Wholesale inflation picked up in April to its highest rate in a year, according to Bureau of Labor Statistics data released Tuesday. The

By Jordan Valinsky, CNN New York (CNN) — Planning a summer vacation in Europe usually requires an exorbitant amount of cash, but when Taylor Swift is involved, it actually might be a deal. Fans looking to snag tickets to the European leg of her popular “Eras Tour” are finding it substantially cheaper to see Swift

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. Famed New York Times journalist Nicholas Kristof on Tuesday will release his memoir, “Chasing Hope: A Reporter’s Life.” In the 432-page work, which I was provided an advanced

By Wayne Chang and Mark Thompson, CNN Taipei/London (CNN) — China has vowed to resolutely defend its interests in the face of huge new US tariffs and warned that the trade barriers would affect the wider relationship between the two economic superpowers. President Joe Biden on Tuesday announced that tariffs on $18 billion worth of

By Matt Egan, CNN New York (CNN) — If voters return former President Donald Trump to the White House, he’s promised to launch an unprecedented crackdown on immigration and even conduct mass deportations. Trump recently told Time that he would aim to deport 15 million to 20 million people, perhaps by using the National Guard.

By Samantha Delouya, CNN (CNN) — On Monday, Melinda French Gates announced her resignation from the Bill and Melinda Gates Foundation, officially ending one of the world’s leading philanthropic partnerships. If you ask Warren Buffett, the foundation is losing its smarter half. In a 2008 Fortune profile, the Berkshire Hathaway CEO said French Gates helped

By Brad Lendon, CNN Seoul, South Korea (CNN) — Ghost Shark and Manta Ray protect the undersea realm. Sounds like the plot of a future Marvel movie, but in actual fact, it’s what could be the future of Pacific naval defenses. Ghost Shark and Manta Ray are the names of prototype uncrewed underwater vehicles –

By Nathaniel Meyersohn, CNN New York (CNN) — Struggling Red Lobster is abruptly closing at least 48 of its restaurants around the country, according to a leading restaurant liquidator. TAGeX Brands is conducting an online auction of Red Lobster restaurant inventory, including kitchen equipment, furniture, tables and chairs. The auction begins Monday and continues through

By Liam Reilly, CNN (CNN) — Rudy Giuliani was suspended from New York City radio station WABC and his talk show canceled after he flagrantly ignored orders not to discuss false 2020 election conspiracy theories, the station’s owner said Monday. Giuliani, the former New York City mayor and Donald Trump lawyer who has hosted a daily

By Peter Valdes-Dapena, CNN (CNN) — Cruise, General Motors’ autonomous driving technology subsidiary, will start taking its self-driving vehicles out on public roads again this week. The company had stopped testing last October following an incident in San Francisco in which a pedestrian was badly injured. Cruise’s vehicles will begin driving again in Phoenix, Arizona,

By Pete Muntean, CNN (CNN) — Major airlines have filed a lawsuit against the federal government over new rules that would require carriers to disclose all airline fees — including those for checked and carry-on bags as well as change and cancelation fees — up front. The suit was filed Friday in the U.S. Fifth

By Clare Duffy, CNN New York (CNN) — ChatGPT is about to become a lot more useful. OpenAI on Monday announced its latest artificial intelligence large language model that it says will make ChatGPT smarter and easier to use. The new model, called GPT-4o, is an update from the company’s previous GPT-4 model, which launched

By David Goldman, CNN New York (CNN) — Melinda French Gates, one of the world’s preeminent philanthropists, said Monday she would resign as co-chair of the Bill & Melinda Gates Foundation that she has helped lead since 2000. The foundation has made nearly $78 billion worth of grant payments in the nearly 25 years since its

By Matt Egan, CNN New York (CNN) — US officials worry the next recession could be intensified by a cascading series of failures in the mortgage industry caused by crashing home prices, frozen financial markets and soaring delinquencies. The US Financial Stability Oversight Council, a SWAT team of financial regulators formed after the 2008 crisis,

By Anna Cooban, CNN London (CNN) — More than a year after Shein promised to tackle excessive working hours in its supply chain, a new report suggests the Chinese fast-fashion company still has a problem. Workers in some factories supplying Shein are still working 75-hour weeks, according to an investigation by Public Eye, a Swiss human

By Krystal Hur, CNN New York (CNN) — The surprise social media return of the trader who helped ignite the meme stock frenzy in 2021 sent GameStop shares skyrocketing Monday. The surge had nothing to do with the troubled company’s fundamentals — and everything to do with a cartoon of a gamer that the trader,

By Peter Valdes-Dapena, CNN (CNN) — Porsche is set to unveil one of the biggest changes to its signature model. A hybrid Porsche 911, with its gas engine assisted by at least one battery-powered electric motor, will officially be revealed in an online event on May 28. The move is a major step in the

By Jordan Valinsky, CNN New York (CNN) — Apple Store workers in Towson, Maryland, the first of the tech giant’s retail employees to unionize, made history again by voting late Saturday in favor of authorizing a strike. The International Association of Machinists and Aerospace Workers Coalition of Organized Retail Employees (IAM CORE), the union representing the

By Parija Kavilanz, CNN New York (CNN) — Wedding dress shopping may never go back to what it used to be. Instead of collecting your entire bridal entourage to spend a few hours at a boutique trying on several dresses for the perfect find at a lofty price of a $1,000 or more, some retailers

By Eva Rothenberg, CNN New York (CNN) — A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8. US District Judge Mark T. Pittman, an appointee of former President Donald Trump, granted a preliminary injunction to

By Victor Blackwell, Devon M. Sayers, Hyan de Freitas and Kara Nelson, CNN (CNN) — Florida A&M University is putting a purported $237.75 million donation “on pause,” after media reports and college board leaders raised concerns about the actual value of the stock gift—and the details surrounding the donor’s previous donations. “A decision that was

By Danielle Wiener-Bronner, CNN New York (CNN) — McDonald’s and other fast food chains are charging more. So much so that you may want to consider going for a slightly slower burger. Or at least, that’s what Applebee’s wants you to think about. “You can get our burger for $9.99,” John Peyton, CEO of Applebee’s

By Nathaniel Meyersohn, CNN New York (CNN) — If you took an American Airlines flight in the 1960s, you’d be wined and dined from the Coach-class “Royal Coachman” menu. Your meal began with the beef consommé and proceeded to sautéed breast of chicken in wine. Care for a fruit tartlet for dessert? Today, if you’re

By Samantha Delouya, CNN (CNN) — Jim Simons, the billionaire investor, mathematician and philanthropist, died on Friday in New York City, according to his foundation, the Simons Foundation. Simons was 86 years old. Simons, the founder of the hedge fund Renaissance Technologies, helped to pioneer quantitative investing, a market strategy that relies on mathematical and

CNN By Ashley Strickland, CNN (CNN) — A series of solar flares and coronal mass ejections from the sun have the potential to create dazzling auroras that may be seen as far south as Alabama and Northern California but also disrupt communications on Earth tonight and over the weekend, according to the National Oceanic and

By Anna Cooban, CNN London (CNN) — As many as 800 activists gathered outside Tesla’s factory near Berlin Friday to protest its expansion plans, and some of them clashed with police as they attempted to break into the plant. “There are currently 800 activists on the Tesla Gigafactory site as part of the Disrupt Tesla

By Jordan Valinsky, CNN New York (CNN) — Target is limiting the number of stores that will sell LGBTQ-themed merchandise for Pride Month in June following a boycott from right-wing activists last year that took a toll on the brand’s bottom line. This year, Target said it will sell only Pride-themed “adult apparel” and home

By Allison Morrow, CNN New York (CNN) — A couple of weeks ago, I rewatched Jurassic Park for probably the 10th time since the movie came out 30 years ago. (As an aside, it really holds up — 10/10, no notes.) Early in the plot, when the guests are discussing their impressions of the park,

By Hanna Ziady and Anna Cooban, CNN London (CNN) — The United Kingdom has come out of a short and shallow recession, giving Prime Minister Rishi Sunak a sorely needed boost ahead of an election expected later this year. Gross domestic product grew 0.6% in the first three months of the year compared with the

By Sean Lyngaas, CNN (CNN) — A major US health care system said Thursday that it is diverting ambulances from “several” of its hospitals following a cyberattack this week. The cyberattack on Ascension, a St. Louis-based nonprofit network that includes 140 hospitals in 19 states, is also disrupting access to electronic health records, some phone systems

By Jessie Yeung, Priti Gupta and Esha Mitra, CNN Photographs by Noemi Cassanelli, CNN Mumbai, India (CNN) — As Indians head to the polls in a massive ongoing nationwide election, much attention has focused on the country’s explosive growth under Prime Minister Narendra Modi’s leadership. During his past decade in office, India’s fast-growing economy has

By Samantha Delouya, CNN (CNN) — Apple has apologized and admitted it “missed the mark” with its latest iPad Pro advertisement. The ad, posted on social media Tuesday by Apple CEO Tim Cook, was met with backlash from internet users who felt that the ad celebrated technology’s destruction of human creativity and art. In a

By Nicole Goodkind, CNN New York (CNN) — Oprah Winfrey said on Thursday evening that she has long played a role in promoting unhealthy and unrealistic diets. “I want to acknowledge that I have been a steadfast participant in this diet culture,” she said during a live event broadcast on YouTube in partnership with WeightWatchers.

By Jeanne Sahadi, CNN New York (CNN) — If you use a points-and-rewards credit card offered by an airline in partnership with a big bank, how much are the points you’ve accrued worth in dollars? And how much do you need to spend to get the best rewards? If you’re not sure, you’re probably not

By Matt Egan, CNN (CNN) — An investor in the shell company that merged with Trump Media was found guilty on Thursday of insider trading linked to that blockbuster deal, according to federal prosecutors. Bruce Garelick, who served as a director at the shell company, was accused of using secret knowledge of the looming deal with Trump

By Clare Duffy, CNN New York (CNN) — An investigation by the New Mexico Attorney General into the potential dangers of Meta’s platforms has resulted in the arrests of three men charged with attempted sexual abuse of children. The arrests came after a months-long investigation by the attorney general’s office into the risks of sexual

By Jordan Valinsky, CNN New York (CNN) — The first test subject for Neuralink, Elon Musk’s brain chip implant startup, has developed a problem just a few weeks after it was inserted. In a blog post, the company revealed that a number of the chip’s connective threads retracted from the subject Noland Arbaugh’s brain, which

By Anna Cooban, CNN London (CNN) — Dozens of cabin crew at Air India Express called in sick earlier this week, forcing the budget carrier to cancel 85 flights since Tuesday evening and disrupting the travel plans of thousands of passengers. The Indian carrier is “making every possible effort to minimize the inconvenience caused to

By Nectar Gan, CNN Hong Kong (CNN) — The PR chief of Baidu who sparked a public relations crisis with controversial comments endorsing a tough workplace culture has left the Chinese search engine. Qu Jing has stepped down from her position as vice president and head of communications, a person familiar with the matter told CNN

By Diksha Madhok, CNN New Delhi (CNN) — Two of the planet’s richest businessmen are becoming embroiled in India’s increasingly divisive election campaign. The world’s most populous nation is in the midst of a mammoth election in which Prime Minister Narendra Modi is widely expected to secure a rare third consecutive term. Modi is running on his

By Matt Egan, CNN New York (CNN) — The federal government is teaming up with Wall Street in a new cybersecurity alliance aimed at defending the US financial system from a nightmare attack and deterring hackers from even trying, according to a letter sent to bank CEOs by a senior Treasury official and viewed by

By Laura He, CNN Hong Kong (CNN) — Two major cities in China have eliminated all remaining curbs on home-buying, in yet another sign that local governments are trying to revive the beleaguered real estate sector and spur growth in the world’s second-largest economy. Hangzhou, a city of 12.5 million which is home to tech

By Chris Lau and Himari Semans, CNN Tokyo (CNN) — A major Japanese food supplier has recalled more than 100,000 packs of a popular brand of sliced white bread after rat parts were found inside some loaves. The latest scare adds to a raft of food safety scandals plaguing Asia’s second biggest economy, which has a longstanding

By Elisabeth Buchwald, CNN New York (CNN) — Martin Gruenberg, the chair of the Federal Deposit Insurance Corporation, is facing a barrage of calls from lawmakers to resign after a scathing 234-page report released Tuesday detailed pervasive sexual harassment, discrimination and bullying at the agency. If he heeds the calls, there could be significant ramifications

By Saira Mueller, CNN (CNN) — When an ad goes viral, it’s usually for one of two reasons — it resonates so deeply with viewers that they can’t stop talking about it … or it makes people so upset they rush to social media to voice their outrage. An Apple ad for its new iPad Pro

By Samantha Murphy Kelly, CNN (CNN) — Roblox shares slid more than 20% in early trading, as the gaming giant dialed back its forecasts for growth and first-quarter earnings showed player spending is slowing. Average daily active users (DAUs) were 77.7 million, up 17% year-over-year. But analysts said Roblox needs to prove to Wall Street

By Olesya Dmitracova, CNN London (CNN) — FTX has recovered enough assets to pay most of its creditors back in full, the failed crypto exchange said late Tuesday as it unveiled a proposed reorganization plan. “The plan contemplates payment in full of all non-governmental creditors based on the value of their claims as determined by

By Chris Isidore, CNN New York (CNN) — Just more than a year after a massive derailment of a Norfolk Southern freight train led to the release of tank cars full of toxic chemicals and increased attention to the issue of railroad safety, the control of the railroad is up for grabs at its annual

By Samantha Murphy Kelly and Samantha Waldenberg, CNN (CNN) — Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin that aims to train employees and manufacturers on how to best use artificial intelligence. President Joe Biden will appear at the site in Mount Pleasant, Wisconsin, on Wednesday to highlight the

By Wayne Sterling and Michael Nam, CNN (CNN) — IndyStar sports columnist Gregg Doyel “will not be covering the Indiana Fever,” an IndyStar spokesperson told CNN in a statement Tuesday. In April, Doyel had a cringeworthy exchange during Caitlin Clark’s introductory news conference as the newest member of the WNBA team. The IndyStar writer made