Money

By Matt Egan, CNN New York (CNN) — Florida venture capitalist Michael Shvartsman and his brother Gerald Shvartsman pleaded guilty on Wednesday to participating in an insider trading scheme linked to the blockbuster deal that brought former President Donald Trump’s social media business public. Each of the brothers pleaded guilty in New York to one

By Chris Isidore and Jennifer Hansler, CNN Washington, DC (CNN) — US Secretary of State Antony Blinken is the latest person dealing with problems with a Boeing jet. Blinken and other State Department officials who are in Europe for talks about the wars in Ukraine and Gaza were forced to ride by car between Paris

By Anna Cooban, CNN London (CNN) — The European Union has launched investigations into two groups of companies that include Chinese solar panel makers in the latest salvo against what it suspects is unfair competition from China’s vast manufacturing sector. The European Commission, the EU’s executive arm, said Wednesday that it would assess whether foreign

By Rosa de Acosta, CNN Hong Kong (CNN) — In 1995, metallurgy graduate Wang Chuanfu founded BYD, a small Chinese company focused on producing rechargeable nickel-cadmium batteries more cheaply than Japanese competitors. Nearly 30 years later, the Shenzhen-based firm has become the world’s leading manufacturer of electric vehicles (EVs), even surpassing American giant Tesla (TSLA)

By Nicole Goodkind, CNN New York (CNN) — US markets have had a great 15 months. The S&P 500 rallied 24% in 2023 and hit 22 new all-time highs in the first quarter of 2023. But a rising tide does not necessarily lift all boats. Direct-to-consumer brands – household names like HelloFresh, Peloton, Allbirds, Stitch

By Laura He, CNN Hong Kong (CNN) — Chinese internet giants are buying back their shares at a record pace, as they try to boost their market value in the midst of a historic stock rout in the world’s second largest economy. Alibaba Group (BABA) announced Tuesday that it had bought back $12.5 billion of

By Sean Lyngaas, CNN Washington (CNN) — Microsoft committed a “cascade” of “avoidable errors” that allowed Chinese hackers to breach the tech giant’s network and later the email accounts of senior US officials last year, including the secretary of commerce, a scathing US government-backed review of the incident has found. The hack “was preventable and

CNN By Matt Egan, CNN (CNN) — Trump Media & Technology Group, the Truth Social owner controlled by former President Donald Trump, recently filed a lawsuit against two of its co-founders seeking to eliminate their stakes in the multi-billion dollar company. The lawsuit marks the latest twist in the legal saga surrounding the quest to

By Kevin Dotson, CNN (CNN) — Monday night’s Elite Eight showdown between Caitlin Clark’s Iowa Hawkeyes and Angel Reese’s LSU Tigers set the all-time ratings record for a women’s college basketball game, according to ESPN. More than 12 million people tuned in to watch the much-hyped rematch of 2023’s national championship game, which saw Iowa

By Matt Egan, CNN (CNN) — Trump Media & Technology Group, the Truth Social owner controlled by former President Donald Trump, recently filed a lawsuit against two of its co-founders seeking to eliminate their stakes in the multi-billion dollar company. The lawsuit marks the latest twist in the legal saga surrounding the quest to bring

By Chris Isidore and Matt Egan, CNN New York (CNN) — GE once did almost everything for the typical American family – from providing much of the television they watched, to the light bulbs and appliances they depended upon, the electricity needed to power those household staples, even the subprime mortgage that allowed many of

By Elizabeth Wagmeister, CNN (CNN) — More than 200 artists, including Billie Eilish, Kacey Musgraves, J Balvin, Ja Rule, Jon Bon Jovi, The Jonas Brothers, Katy Perry, Miranda Lambert and more, are speaking out against artificial intelligence-related threats in the music industry. In an open letter organized by the non-profit Artist Rights Alliance, notable names

By Clare Duffy, CNN New York (CNN) — Elon Musk’s social media platform X on Tuesday announced it’s hiring a new head of safety as it faces ongoing scrutiny over the spread of hateful speech, conspiracy theories and other controversial content on the platform. Kylie McRoberts — a nearly four-year veteran of the company formerly known

By Matt Egan, CNN (CNN) — Don Hankey, the chairman and majority shareholder of Knight Specialty Insurance, told CNN on Tuesday that the deal to underwrite former President Donald Trump’s $175 million bond in New York came together quickly and that Trump posted all cash as collateral. “It’s what we do. I’m happy to do it. We

By Jordan Valinsky, CNN New York (CNN) — JetBlue is proving that not even your baggage is safe from dynamic pricing, with the airline rolling out fees that vary depending on the day of departure. The price of a first checked bag now ranges from $35 to $50 under a recently revealed fee structure that

By Hadas Gold and Samantha Delouya, CNN (CNN) — A bitter fight over the future of Disney is set to be decided this week as one of the most expensive proxy battles ever comes to a head at a high-stakes shareholder vote on Wednesday. At issue is Disney’s (DIS) stock price, which has risen nearly 50% over the

By Krystal Hur, CNN New York (CNN) — Stocks fell Tuesday as investors continued to worry that the Federal Reserve could cut interest rates later than expected. The Dow Jones Industrial Average dropped 395 points, or 1%, on Tuesday after declining more than 500 points at its lows. That means the blue-chip index had at

By Anna Cooban, CNN London (CNN) — The global price of oil rose Tuesday to its highest level in seven months, propelled, in part, by concerns that mounting tensions in the Middle East could crimp supply. Brent crude, the world’s oil benchmark, climbed as much as 1.8% to $89 a barrel, the highest since early

By Mariya Knight, CNN Atlanta (CNN) — A Russian court has extended the detention of US-Russian journalist Alsu Kurmasheva, Russian state news agency TASS reported from the courtroom Monday. Kurmasheva, the editor for the Tatar-Bashkir service of Radio Free Europe/Radio Liberty (RFE/RL), will now be detained until June 5, for failing to register as a foreign

By Jordan Valinsky, CNN New York (CNN) — Jon Stewart on “The Daily Show” Monday revealed what led to his abrupt exit from Apple and the cancellation of his short-lived show on its streaming TV platform. Stewart said that the tech giant prohibited him from discussing artificial intelligence or interviewing Federal Trade Commission chair Lina

CNN By Jordan Valinsky, CNN New York (CNN) — Jon Stewart on “The Daily Show” Monday revealed what led to his abrupt exit from Apple and the cancellation of his short-lived show on its streaming TV platform. Stewart said that the tech giant prohibited him from discussing artificial intelligence or interviewing Federal Trade Commission chair

By Bryan Mena, CNN Washington (CNN) — The tragic collapse of the Francis Scott Key Bridge last week claiming the lives of construction workers who were all Hispanic has rattled the Baltimore region to its core. As the local community begins the difficult work needed to return to some sense of normality, experts say that,

By Brian Fung, CNN (CNN) — Tens of millions of Americans could see skyrocketing internet bills this spring or may be abruptly kicked off their plans — and it will be congressional Republicans who are to blame, the Biden administration said Tuesday. The accusation reflects a last-ditch pressure campaign to save a federal program that

By Elizabeth Wolfe and Melissa Alonso, CNN (CNN) — The Powerball jackpot has ballooned to a tremendous $1.09 billion after yet another lottery drawing yielded no top winner Monday night. Monday’s winning numbers were: 19, 24, 40, 42, 56 and Powerball 23. The next drawing will be held Wednesday night. If a player finally snags the

By Vasco Cotovio, Clare Sebastian and Allegra Goodwin, CNN (CNN) — There’s a loud buzzing sound as a small silhouette approaches in the air. The noise is eerily reminiscent of Russian drone strikes on Ukraine, but this episode was recorded closer to Moscow than to Kyiv. “They’re flying right towards us,” a woman is heard saying

By Ramishah Maruf, CNN New York (CNN) — United Airlines is asking its pilots to take voluntary unpaid leave in May because of delays in Boeing deliveries, according to a memo sent by the union representing pilots. Because of the delivery delay, “our forecasted block hours for 2024 have been reduced and we are offering

By Natasha Chen, CNN (CNN) — As of Monday, about half a million fast food workers in California are making at least $20 per hour, $4 higher than the overall state minimum wage. The new rate applies to restaurant chains with more than 60 nationwide locations and is a result of a years-long fight by

By Catherine Thorbecke, CNN (CNN) — Google will delete billions of data records as part of a settlement for a lawsuit that accused the tech giant of improperly tracking the web-browsing habits of users who thought they were browsing the internet privately. The suit was originally filed in 2020 and accused Google of misrepresenting the

By Brian Fung, CNN Washington (CNN) — Microsoft will no longer sell its Teams collaboration software as a bundled product with its Office 365 suite anywhere in the world, the company said Monday, in the face of antitrust concerns. The decision to separate Teams from Office globally extends a previous announcement last year affecting only the

By Clare Duffy, CNN New York (CNN) — OpenAI has unveiled a new artificial intelligence tool that can mimic human voices with startling accuracy. The AI voice generator has a range of potential applications, including for accessibility services, but could also prompt concerns about misinformation and other forms of abuse. OpenAI on Friday shared samples

By Matt Egan, CNN New York (CNN) — Shares of Truth Social owner Trump Media & Technology Group plunged Monday after the company disclosed that it lost more than $58 million and generated very little revenue in 2023. Former President Donald Trump is the company’s majority shareholder, and his net worth tumbled by more than

By Jeanne Sahadi, CNN New York (CNN) — Buying an affordable home in the United States has gotten a lot harder for many people since 2020. A new analysis from Bankrate.com finds that in 22 states and Washington, DC, buyers need a six-figure household income to comfortably afford a typical median-priced home. That’s a lot

By Peter Valdes-Dapena, CNN (CNN) — One sound could go missing from the symphony that greets campers at dawn. Besides bird chirps, owl hoots and racoons searching for food, the rumble of car engines firing up as campers head home may be strangely absent. It will at least be less common as electric trucks and

CNN By Nicole Goodkind, CNN New York (CNN) — The massive cargo ship crash that destroyed the Baltimore’s Francis Scott Key Bridge on Tuesday will probably cost various shipping companies and insurers billions of dollars in damages. But lawyers, legislators and business owners will need to turn to one of the oldest subjects of law

By Nicole Goodkind, CNN New York (CNN) — The massive cargo ship crash that destroyed the Baltimore’s Francis Scott Key Bridge on Tuesday will probably cost various shipping companies and insurers billions of dollars in damages. But lawyers, legislators and business owners will need to turn to one of the oldest subjects of law to

By Dalia Faheid and Sara Smart, CNN (CNN) — With no one winning the Powerball jackpot Saturday, the grand prize for Monday’s drawing grew closer to the billion-dollar mark, according to the lottery. Saturday’s winning numbers were: 33, 13, 50, 12, 52 with a Powerball of 23. The estimated $975 million Powerball jackpot in play Monday jumped from

CNN, KCRA By Eva Rothenberg, CNN New York (CNN) — AT&T has launched an investigation into the source of a data leak that includes personal information of 73 million current and former customers. In a news release Saturday morning, the telecommunications giant said the data was “released on the dark web approximately two weeks ago,”

By Eva Rothenberg, CNN New York (CNN) — AT&T has launched an investigation into the source of a data leak that includes personal information of 73 million current and former customers. In a news release Saturday morning, the telecommunications giant said the data was “released on the dark web approximately two weeks ago,” and contains

By Samantha Delouya, CNN (CNN) — The seismic settlement announced by the National Association of Realtors earlier this month has not yet been approved, but it is already sending shockwaves through the real estate industry. The mere prospect of a future settlement has already caused some Americans to change their behavior when buying and selling

CNN By Nathaniel Meyersohn and Anna Bahney, CNN New York (CNN) — The home insurance market is crumbling in New Orleans, leaving Alfredo Herrera with few options for coverage — and skyrocketing insurance premiums. Herrera, 35, works in finance for a local bank. He bought his 900-square-foot home in New Orleans’ Mid-City neighborhood in 2020

By Elisabeth Buchwald, CNN New York (CNN) — The Federal Reserve has been keen on paying attention to investors’ expectations on interest rates. But the Fed is prepared to ignore Wall Street’s hope for a rate cut in June if it feels the economy isn’t ready yet. That’s the message Fed Chair Jerome Powell delivered

By Radina Gigova, Anna Chernova and Olesya Dmitracova, CNN London (CNN) — Six journalists working for independent media outlets in Russia were arrested in a span of just a few hours this week on the eve of the anniversary of American reporter Evan Gershkovich’s detention in the city of Yekaterinburg. The journalists include Antonina Favorskaya,

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. Emma Tucker is hopeful that by next year Evan Gershkovich will be free. The Wall Street Journal boss, who spoke with me by phone

By Laura He, CNN Hong Kong (CNN) — Troubled housing giant Country Garden announced late Thursday that it would delay the publication of its annual results, in the latest sign of the turmoil still coursing through China’s huge property sector. In a filing provided to the Hong Kong stock exchange, the company said it needed

By Samantha Delouya, CNN (CNN) — Kia has recalled 427,407 of its Telluride SUVs because they can roll away while in park. All Telluride vehicles made between 2020 and 2023 and certain 2024 models are affected by the recall, according to a report this week by the National Highway Traffic Safety Administration. Kia did not

By Matt Egan and Ramishah Maruf, CNN New York (CNN) — Undergraduate applications to Harvard University dipped to four-year lows for the class of 2028, according to new figures that offer early clues into how the Ivy League school’s reputation has held up during a period of historic turmoil. The application figures are also the

By Allison Morrow and Lauren del Valle, CNN New York (CNN) — Sam Bankman-Fried on Thursday was sentenced to 25 years in prison, a year and a half after his crypto startup, FTX, imploded practically overnight and set off a massive a federal investigation. The outcome was not a huge surprise — a prison sentence

By Chris Isidore, CNN New York (CNN) — Demolition workers could open a channel for ships to move in and out of the Port of Baltimore as soon as one month after required equipment arrives on scene, according to an expert in the field familiar with ongoing discussions. The expert, who spoke to CNN on

By Nicole Goodkind, CNN (CNN) — The United States is on the brink of a retirement crisis. By the end of the decade, about 21% of the country’s population will be 65 or older, up from 15% in 2016, according to forecasts by the Census Bureau. Most non-retired adults have some type of retirement savings,

By Catherine Thorbecke and Nathaniel Meyersohn, CNN New York (CNN) — The massive cargo ship crash into Baltimore’s Francis Scott Key Bridge will likely lead to billions of dollars in liability claims. Marine insurance companies will be on the hook for much of the costs. With various owners and companies involved – and with some

CNN By John Towfighi, CNN (CNN) — Cocoa prices are surging so high, the Easter Bunny might want to hoard its chocolate. Consumers hunting for Easter eggs and chocolate bunnies this year can expect sticker shock similar to Valentine’s Day. Retail chocolate prices rose 11.6% across all of 2023, according to Circana data shared with

By Anna Cooban, CNN London (CNN) — Investors are refusing to inject billions in new money into Britain’s biggest water company, leaving the beleaguered business at risk of an emergency government takeover. The nine shareholders in Thames Water, which supplies water and wastewater services to 15 million people in London and the southeast of England,

By Laura He, CNN Hong Kong (CNN) — Xiaomi formally launched its much-anticipated electric car — the new Speed Ultra 7 (SU7) sedan — on Thursday night in Beijing. Lei Jun, founder and CEO of the popular Chinese smartphone brand, said the company’s first electric vehicle would sell for 215,900 yuan ($29,874) to 299,900 yuan

By Laura He, CNN Hong Kong (CNN) — Chinese leader Xi Jinping has told Dutch Prime Minister Mark Rutte that “no force can stop China’s scientific and technological development.” Xi’s comments come as a chip war rages between China and Western countries, including the Netherlands, which is home to ASML — the world’s sole manufacturer of

By Lauren del Valle and Allison Morrow, CNN New York (CNN) — Sam Bankman-Fried has been sentenced to 25 years in federal prison for defrauding customers and investors in his failed crypto exchange FTX, a Manhattan court ruled Thursday. Before announcing the sentence, Judge Lewis Kaplan said there was a risk “that this man will

By Brian Fung and Sam Fossum, CNN Washington (CNN) — By the end of the year, travelers should be able to refuse facial recognition scans at airport security screenings without fear it could delay or jeopardize their travel plans. That’s just one of the concrete safeguards governing artificial intelligence that the Biden administration says it’s

By Mark Morales, CNN (CNN) — Congestion pricing is coming to New York soon with transit officials officially approving the toll structure at a hearing on Wednesday. The controversial plan, which advocates and lawmakers say will mitigate traffic and help fund repairs to key infrastructure, is the first of its kind for a major US

CNN, NY MTA, NJ.GOV, KIRO, KOMO, KCAL, KCBS, ABC By Mark Morales, CNN (CNN) — Congestion pricing is coming to New York soon with transit officials officially approving the toll structure at a hearing on Wednesday. The controversial plan, which advocates and lawmakers say will mitigate traffic and help fund repairs to key infrastructure, is

By Elisabeth Buchwald and Samantha Delouya, CNN New York (CNN) — A yearslong fight between Disney and Florida is set to end after the two parties agreed to a settlement. In a meeting Wednesday morning, members of the board of the Central Florida Tourism Oversight District, a body that governs the special tax district Disney

Analysis by Oliver Darcy, CNN New York (CNN) — Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours. On Tuesday evening, following another full day in which the

By Chris Isidore, CNN New York (CNN) — Since its founding by William Boeing more than a century ago, the Boeing Company has had 12 CEOs. The 13th might be the most important yet. As Boeing begins its search for a new CEO, the company is facing its worst-ever crisis. It has struggled through more

By Allison Morrow, CNN New York (CNN) — Almost five months after he was found guilty of committing one of the largest white-collar crimes in history, Sam Bankman-Fried is set to return to Manhattan federal court Thursday for sentencing that could land him in prison for the next half-century. It is clear that Bankman-Fried, who

By Laura He and Wayne Chang, CNN Hong Kong/Taipei (CNN) — Chinese leader Xi Jinping met more than a dozen US CEOs and academics on Wednesday as Beijing renewed efforts to woo back foreign investors and mend strained relations with the United States. Foreign direct investment in China has slumped in recent months as a

By Alicia Wallace, CNN Minneapolis (CNN) — The collapse of the the Francis Scott Key Bridge in Baltimore on Tuesday is unfortunately not the first deadly collapse of a major interstate bridge in the US. But the response to a bridge failure in Minneapolis 17 years ago, one of the most catastrophic bridge failures in

CNN By Oliver Darcy and Jon Passantino, CNN New York (CNN) — NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the

By Brian Fung and Samantha Delouya, CNN (CNN) — The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity. The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a

By Oliver Darcy and Jon Passantino, CNN New York (CNN) — NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.

CNN By Elizabeth Wolfe, Melissa Alonso and Yahya Abou-Ghazala, CNN (CNN) — The collapse of a major bridge in Baltimore early Tuesday morning due to a massive cargo ship collision has throttled one of the country’s biggest ports for the foreseeable future as crews search for six workers who are now presumed dead. Here’s the

By Mark Thompson and Chris Isidore, CNN London/New York (CNN) — The bridge collapse that has indefinitely halted the flow of ships in and out of the Port of Baltimore could hurt the local economy, strain supply chains and scramble deliveries along the US East Coast. The Key Bridge collapsed after a container vessel called

By Samantha Murphy Kelly, CNN (CNN) — Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements. The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday,