Money

CNN By Samantha Delouya, CNN (CNN) — It’s been a rollercoaster lately for Apple Watch shoppers. The newest models were yanked from Apple’s shelves in the throes of the holiday shopping season amid an ongoing patent dispute, though a last-minute court order means they’ve started going back on sale ­– for now, at least. Here’s

By Samantha Delouya, CNN (CNN) — It’s been a rollercoaster lately for Apple Watch shoppers. The newest models were yanked from Apple’s shelves in the throes of the holiday shopping season amid an ongoing patent dispute, though a last-minute court order means they’ve started going back on sale ­– for now, at least. Here’s what

By Erica Hill and Yon Pomrenze, CNN (CNN) — In his 23 years with the Golden, Colorado, police department, a shorter workday — or work week — was never something Commander Marcus Williams thought about. “This was always considered something of a grind as part of the profession, one of those things you just kind

By Elizabeth Wolfe, CNN (CNN) — An estimated $760 million jackpot will be up for grabs in the next Powerball drawing after no winning ticket was drawn Wednesday night. The lottery’s next drawing will be Saturday at 10:59 p.m. ET. After more than two months with no grand prize winner, the jackpot now carries a

By Ramishah Maruf, CNN New York (CNN) — Gaston Glock, the inventor of the ubiquitous gun bearing his name, died on Wednesday. He was 94. The Glock company announced his death on its website, without giving a cause or other details. The Glock is universal in mainstream culture, from use in over 65% of US

By Matt Egan, CNN New York (CNN) — Gas prices will fall in 2024 for the second year in a row, according to GasBuddy projections shared exclusively with CNN. GasBuddy, which had a forecast for 2023 that proved to be eerily accurate, expects US gas prices will average $3.38 a gallon in the key election

By Elisabeth Buchwald, CNN New York (CNN) — For most people, passive income is a bit of extra pocket change that requires minimal effort to earn to supplement a main source of income. For Steve Ballmer, it’s $1 billion. Ballmer, the sixth richest person in the world, is due to collect that much in dividends

By Brian Fung, CNN Washington (CNN) — Apple will immediately return to selling its most advanced Apple Watch models in stores, after a federal appeals court temporarily blocked a sweeping import ban on its latest smartwatches while a patent dispute winds its way through the legal system. Apple will also once again offer the affected watches for

By Hanna Ziady, CNN London (CNN) — Some major shipping companies continue to steer clear of the Red Sea, even as others return following a new US-led security operation to safeguard the area — highlighting how fragile the situation remains in one of the world’s trade arteries. Hapag-Lloyd and Evergreen Line, the container shipping arm of

By Brammhi Balarajan and Sarah Engel, CNN (CNN) — The Powerball jackpot has grown to $700 million for Wednesday night’s drawing. The numbers drawn Wednesday were 4, 11, 38, 51, 68 and Powerball 5. Sales officials increased the jackpot Wednesday by about $15 million due to strong ticket sales. The top prize now carries a

By Clare Duffy and David Goldman, CNN New York (CNN) — The New York Times has sued OpenAI and Microsoft for copyright infringement, alleging that the companies’ artificial intelligence technology illegally copied millions of Times articles to train ChatGPT and other services to provide people with instant access to information — technology that now competes

By Ramishah Maruf, CNN New York (CNN) — The Lauder Business School in Vienna, Austria, has severed ties with Harvard University “in solidarity with the Jewish student community,” according to a statement from the institution. “Since 2014, Lauder Business School has proudly been an affiliate of Professor Michael Porter’s Microeconomics of Competitiveness Network at Harvard

By Anna Bahney, CNN Washington, DC (CNN) — This has been a year of superlatives in residential real estate — and not in a good way. Mortgage rates reached 23-year highs, sales sank to a 13-year low and prices hit their highest levels ever. That all combined to push affordability to its lowest point since

By Chris Isidore, CNN New York (CNN) — The longest US auto strike this century is over after a pretty clear win for the United Auto Workers union at all three unionized automakers. But don’t think the union is moving to repair relations between labor and management the way it has after past strikes. The

By Alicia Wallace, CNN Eagan, Minnesota (CNN) — The winter holidays typically make for busier times at The Open Door Pantry food shelf here in this Twin Cities suburb. And sure enough, on the Monday before Christmas, the day’s food appointments were chock-full. In the back warehouse, nearly 100 volunteers quickly and methodically sifted through

By Ramishah Maruf, CNN New York (CNN) — After an unfavorable US International Trade Commission ruling, Apple is no longer selling its Apple Watch Series 9 and Apple Watch Ultra 2 in the United States because of a patent dispute. The ITC banned Apple from importing the affected watches into the US, and American Apple

By Michelle Toh, Hanako Montgomery and Francesca Annio, CNN Hong Kong/Tokyo (CNN) — Daihatsu, the Japanese automaker owned by Toyota, has halted domestic production after admitting it forged the results of safety tests for its vehicles for more than 30 years. The brand, best known for manufacturing small passenger cars, has stopped output at all

CNN, CNN BUSINESS By Nathaniel Meyersohn, CNN New York (CNN) — If you’re thinking of sending back a disappointing gift you just received over the holidays, the return may bring even more disappointment. Americans have grown accustomed to free returns, but a growing number of retailers are charging fees as returns squeeze retailers’ bottom lines.

By Nathaniel Meyersohn, CNN New York (CNN) — If you’re thinking of sending back a disappointing gift you just received over the holidays, the return may bring even more disappointment. Americans have grown accustomed to free returns, but a growing number of retailers are charging fees as returns squeeze retailers’ bottom lines. Macy’s, Abercrombie, J.

By Mark Thompson, CNN (CNN) — The Israeli government and Intel confirmed plans to build a $25 billion chipmaking factory in the south of the country, an investment Prime Minister Benjamin Netanyahu has described as the biggest in Israel’s history. The American tech giant already employs 11,700 people in Israel and has invested more than

By Anna Bahney, CNN Washington, DC (CNN) — US home prices continued to rise in October, hitting a new record high and marking the ninth-consecutive month of increases, according to data released Tuesday. Together with soaring mortgage rates that month, rising home prices have made this the least affordable housing market in a generation. Even

Analysis by Samantha Murphy Kelly, CNN New York (CNN) — It was the year of artificial intelligence, and no Big Tech company leaned into the trend like Microsoft. In 2023, the company’s CEO Satya Nadella made a multi-billion dollar investment in AI, commercialized and added AI tools like ChatGPT into its suite of products before

By Bryan Mena, CNN Washington (CNN) — Taylor Swift didn’t have to run a major company or helm a central bank to wield some immense economic power this year. The pop superstar reigned supreme in 2023 not just as a musical artist, but also as a businessperson: Her career-defining “Eras” tour sold out stadiums across

By David Goldman and Clare Duffy, CNN New York (CNN) — The clock has wound down on the newest Apple Watch after the White House declined to issue a last-minute, emergency action to keep the best-selling smartwatch on store shelves. The Biden White House had until the end of Christmas day to overturn a US International Trade

By Paradise Afshar, CNN (CNN) — The Powerball jackpot climbed to an estimated $685 million after no ticket matched all six numbers to nab the grand prize during Monday night’s Christmas drawing. The top prize up for grabs during the next drawing on Wednesday has a lump-sum option of an estimated $344.7 million, according to

By Laura Dolan, Nicki Brown and David Goldman, CNN New York (CNN) — Some key members of Harvard’s faculty and the university’s top governing body held an extraordinary meeting last week to address the unprecedented problems at one of America’s most prestigious institutions of higher learning. Harvard faces many problems: rising antisemitism on campus and

By Catherine Thorbecke, CNN New York (CNN) — A federal judge has ruled that X, formerly Twitter, must face a lawsuit after staff accused the company of failing to pay bonuses promised to them. The judge on Friday denied X’s motion to dismiss the case. X stands accused of failing to pay out annual bonuses

By Ramishah Maruf, CNN New York (CNN) — It’s been a rough year for some household-name US retailers and businesses. As the economy emerged out of the Covid-19 pandemic, companies faced a laundry list of problems arising from high costs, supply shortages and growing competition. As a result, several big names filed for bankruptcy in

By David Goldman, CNN New York (CNN) – The clock is winding down on a last-minute, emergency action to keep the latest Apple Watch on store shelves. President Joe Biden has until the end of Christmas day to overturn a US International Trade Commission ruling that will prevent Apple from selling the Apple Watch Series

By Michelle Toh, CNN Hong Kong (CNN) — Global shipping giant Maersk will restart operations in the Red Sea after suspending activity there following attacks by Iran-backed Houthi rebels on commercial vessels. The Danish company announced Sunday that it would resume shipments in the Red Sea and Gulf of Aden following the establishment of a

By Samantha Delouya, CNN (CNN) — A holiday celebration for employees of an Airbus subsidiary in France took a turn for the worse earlier this month as dozens of employees became sick after a company Christmas party. “Around 100 Airbus Atlantic employees were taken ill after contracting a food-borne illness after eating the company-organized Christmas

By Robert Ilich, CNN (CNN) — Manchester United announced Sunday that British petrochemical billionaire Sir Jim Ratcliffe purchased a 25% stake in the famed English Premier League soccer club. The sale was confirmed by Manchester United and Ratcliffe-controlled INEOS, a London-based multinational conglomerate. INEOS said in a statement that Ratcliffe will acquire 25% of the

By Nicole Goodkind, CNN New York (CNN) — GM has paused sales of its brand new Chevy Blazer EVs after some customers reported software problems. “We’re aware that a limited number of customers have experienced software-related quality issues with their Blazer EV,” Scott Bell, Vice President of Global Chevrolet, told CNN in a statement. “Customer

By Allison Morrow, CNN New York (CNN) — Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling. It still may have been the industry’s best year ever. The cast of “Crypto 2023” starred figures that are now practically synonymous with fraud: Sam Bankman-Fried, Changpeng Zhao, Alex Mashinsky, and, less prominently,

By Sara Smart, CNN (CNN) — The Powerball jackpot has climbed to $638 million just in time for its next drawing on Christmas night. In the past, three Powerball jackpots have been won on Christmas, according to a news release from Powerball. The last time was 10 years ago when an individual in Missouri won

By Peter Valdes-Dapena, CNN (CNN) — Next year will see the introduction of some new, genuinely affordable electric vehicles as well as a couple of interesting options for the ultra-wealthy. We’ll also see the return of some classic model names. Chevrolet Equinox EV While there are already plenty of electric SUVs on the market, what

By Nicole Goodkind, CNN New York (CNN) — Forget the Super Bowl. For last-minute holiday shoppers, Super Saturday is the sporting event of the year. Christmas Eve falls on a Sunday this year, allowing Americans to take advantage of a weekend of shopping before the holiday. December 23 is expected to be the busiest shopping

By Nicole Goodkind, CNN New York (CNN) — Tesla is recalling more than 120,000 of its vehicles because unlocked doors may open during a crash, increasing the risk of injury, according to safety regulators. The defect affects some 2021-2023 Model S and X vehicles in the United States, according to a National Highway Traffic Safety

By Ramishah Maruf, CNN New York (CNN) — If you need a last-minute present or ingredient from the grocery store, buying them during Christmas can be challenging. Many stores and services are closed to give employees time off with their families. However, others will still be open or on modified hours. This year, Christmas Eve

By Parija Kavilanz, CNN New York (CNN) — For some, tis the season when Starbucks’ holiday cups officially hit the counter. For others, it only truly feels like the holiday season when they can actually smell it. Bath & Body Works, the purveyor of scented products, has figured this out. Global research, the development of

By Alicia Wallace, CNN New York (CNN) — The United States has just hit a “significant milestone” in the battle to bring down inflation, President Joe Biden’s chief economic adviser said Friday. Earlier Friday, the Commerce Department released data showing that a closely watched inflation gauge had cooled beyond what economists were expecting and that

By Liam Reilly, CNN (CNN) — The Washington Post Guild, the union that represents roughly 1,000 of the newspaper’s staffers, reached a tentative agreement Friday on a new contract with the Post’s management, a breakthrough after a year and a half of protracted and, at times, contentious talks that spilled into public view. “This is without question the best

By David Goldman, CNN Washington (CNN) — For years, Pornhub hosted adult videos featuring women who were coerced into performing sex acts on camera by a production company, the website’s owner acknowledged in an agreement with federal prosecutors this week. Aylo, Pornhub’s parent company, will pay a $1.8 million fine and compensate the sex trafficking

By Anna Cooban, CNN London (CNN) — Maersk and CMA CGN have introduced new charges to transport goods along many of the world’s busiest shipping routes after re-directing their vessels away from the Red Sea because of attacks. Denmark’s Maersk said Thursday that it will impose a Transit Disruption Surcharge (TDS) immediately on 27 trade

By Matt Egan, CNN New York (CNN) — Billionaire Len Blavatnik is joining the list of frustrated Harvard donors closing their checkbooks to the university. Blavatnik’s family foundation has suspended donations to Harvard in the wake of President Claudine Gay’s disastrous testimony before Congress, a person familiar with the matter confirmed to CNN. Blavatnik, who

By Anna Bahney, CNN Washington, DC (CNN) — New home sales in the US dropped in November as mortgage rates slowly retreated from their highest levels this year. Sales of newly constructed homes dropped 12.2% in November to a seasonally adjusted annual rate of 590,000 from a revised rate of 672,000 in October, according to a joint

By Nathaniel Meyersohn, CNN New York (CNN) — Nike, a bellwether for the global economy, sounded a warning sign Thursday as the sneaker giant sees consumers becoming more cautious. Nike slashed its revenue outlook for the year and announced cost cuts amid growing concerns that consumers are slowing their spending around the world. The company

By Alicia Wallace, CNN New York (CNN) — After three-plus years of prices steadily — and sometimes sharply — increasing month after month after month, they fell in November. Last month, for the first time since April 2020, prices fell on a monthly basis, according to a closely watched report released Friday by the Commerce

By Anna Cooban, CNN London (CNN) — The United Kingdom’s economy shrank in the third quarter of this year, according to revised official data, stoking concerns that it could be heading for a shallow recession. The country’s gross domestic product fell by 0.1% in the three months to the end of September, compared with an

By CNN Staff Hong Kong (CNN) — Some of China’s most prominent analysts have been subjected to social media restrictions that appear designed to restrict their ability to comment on the country’s ailing stock markets and struggling economy. At least six analysts are unable to upload new posts or gain new followers on popular social

By Wayne Chang and Laura He, CNN Hong Kong (CNN) — Shares of several Chinese tech giants tanked in Hong Kong on Friday, wiping billions off their collective value, after Beijing unveiled a new set of regulations to restrict online spending in the gaming industry as part of its wider crackdown. Tencent, one of the

CNN By Nathaniel Meyersohn, CNN New York (CNN) — Wayfair’s CEO has an end-of-year message for employees of the online furniture company: Don’t shy away from doing more work and blending your work with your life. “Winning requires hard work. I believe that most of us, being ambitious individuals, find fulfillment in the joy of

By Clare Duffy, CNN New York (CNN) — Human Rights Watch on Thursday accused Meta of repeatedly removing or restricting content supporting Palestine or Palestinian human rights even when it did not violate the social media giant’s rules. The report raises concerns about examples of “peaceful” pro-Palestine content that it said the company removed although the

By Samantha Delouya, CNN (CNN) — US Steel’s potential acquisition by a Japanese rival steelmaker may face pushback by the US government, according to comments made by US Commerce Secretary Gina Raimondo. “President Biden is so focused on making sure that we have a vibrant steel industry in the United States for national security purposes,”

By Ramishah Maruf, CNN New York (CNN) — Whole Foods did not act unlawfully by banning employees from wearing items with Black Lives Matter messaging, a judge ruled Thursday. In late spring and summer of 2020, the United States was engulfed in Black Lives Matter protests in the wake of George Floyd’s murder. Whole Foods

By Nathaniel Meyersohn, CNN New York (CNN) — Wayfair’s CEO has an end-of-year message for employees of the online furniture company: Don’t shy away from doing more work and blending your work with your life. “Winning requires hard work. I believe that most of us, being ambitious individuals, find fulfillment in the joy of seeing

By Liam Reilly, Oliver Darcy and Jon Passantino, CNN (CNN) — The Washington Post’s incoming chief executive and publisher will start the job with a mess on his hands. William Lewis, the veteran media executive who is set to take the reins of the renowned newspaper in January, will arrive to a newsroom in turmoil

By Samantha Delouya, CNN Los Angeles (CNN) — The state of California has sued Ralphs Grocery for allegedly rescinding job offers from hundreds of job applicants with a criminal history, accusing the company of violating state law. California’s Civil Rights Department alleges that Ralphs violated a 2018 law that bans most employers from asking job

Analysis by Elisabeth Buchwald, CNN New York (CNN) — Picture this: You select one app on your TV, phone or computer and everything you could ever dream of watching from live football games to “Succession” to just about every hit movie imaginable is all there. With Warner Bros. Discovery and Paramount in talks for a

By Catherine Thorbecke, CNN New York (CNN) — More than a thousand images of child sexual abuse material were found in a massive public dataset used to train popular AI image-generating models, Stanford Internet Observatory researchers said in a study published earlier this week. The presence of these images in the training data may make

By Matt Egan, CNN New York (CNN) — Harvard President Claudine Gay is facing intensifying pressure as the drip, drip, drip of plagiarism allegations gradually spills out. Yet Gay still has the backing of a crucial decisionmaker: her employer. That support has not wavered, at least publicly, even as Harvard revealed Thursday that Gay requested

CNN By Oliver Darcy, David Goldman, Liam Reilly and Jon Passantino, CNN (CNN) — Warner Bros. Discovery Chief Executive David Zaslav met on Tuesday with Paramount Global Chief Executive Bob Bakish, and they broached a potential merger between the two companies, two people familiar with the matter told CNN. A potential merger of the two

By Matt Egan and Melissa Alonso, CNN (CNN) — Harvard President Claudine Gay is back in the hot seat as the embattled leader requested additional corrections of her past work, and a House committee widened an existing probe of Harvard to include an investigation into allegations of plagiarism. In a statement to CNN on Thursday

By Nathaniel Meyersohn, CNN New York (CNN) — Starbucks chief executive Laxman Narasimhan on Tuesday said people protesting the company and disrupting its stores over the Israel-Hamas war were being misled by false information spread online about the company’s positions. “We see protestors influenced by misrepresentation on social media of what we stand for,” Narasimhan

By Oliver Darcy, David Goldman, Liam Reilly and Jon Passantino, CNN (CNN) — Warner Bros. Discovery Chief Executive David Zaslav met on Tuesday with Paramount Global Chief Executive Bob Bakish, and they broached a potential merger between the two companies, two people familiar with the matter told CNN. A potential merger of the two media

By Peter Valdes-Dapena, CNN New York (CNN) — Bird, a company that operates scooter- and bicycle-sharing operations globally, filed for bankruptcy Wednesday, with the aim to sell its United States operations. The Chapter 11 filing will allow Bird, which describes itself as “the largest micromobility operator in North America,” to restructure while the company works

By Em Steck, CNN (CNN) — Harvard President Claudine Gay recently requested corrections for two of her academic papers, but she did not address even clearer examples of plagiarism from earlier in her academic history at the school, according to a CNN analysis of her writings. In response to accusations of plagiarism, the embattled Harvard president recently submitted corrections to two papers

By Jennifer Korn, CNN (CNN) — Tinder is now offering users a highly exclusive $499 monthly subscription option, but only if they receive a coveted invitation and get through the application process. Tinder SELECT offers users perks beyond those granted to the average swiper. Paying nearly $6,000 a year gives users the chance to see

CNN By Jennifer Korn, CNN (CNN) — Tinder is now offering users a highly exclusive $499 monthly subscription option, but only if they receive a coveted invitation and get through the application process. Tinder SELECT offers users perks beyond those granted to the average swiper. Paying nearly $6,000 a year gives users the chance to

By Catherine Thorbecke, CNN New York (CNN) — Ikea says it is expecting delays and possible availability constraints for certain products as a result of the ongoing attacks on ships in the Red Sea by Houthi rebels. “The situation in the Suez Canal will result in delays and may cause availability constraints for certain IKEA

By Laura He, CNN Hong Kong (CNN) — Chinese tech giant ByteDance says it is using OpenAI’s technology “to a very limited extent” to help develop its own AI models. The admission comes after the San Francisco-firm said it had suspended ByteDance’s account over questions about how its GPT data was being used. A ByteDance

By Jordan Valinsky, CNN New York (CNN) — SiriusXM is the target of a lawsuit from the New York attorney general’s office accusing the satellite radio company of trapping customers in subscriptions and finding ways to prevent them from cancelling. On Wednesday, New York AG Letitia James announced she’s suing SiriusXM after an investigation discovered

By Alicia Wallace, CNN New York (CNN) — A strong job market and a sturdy business climate have left Americans feeling quite jolly this December. US consumer confidence improved for the third consecutive month, leaping to its highest level since July, while recession worries abated, according to new data released Wednesday by the Conference Board.

By Hanna Ziady, CNN London (CNN) — A descendant of Europe’s richest family has reportedly begun a process to adopt his middle-aged former gardener, planning to leave him at least half of his roughly €12 billion ($13 billion) fortune. Nicolas Puech, 80, a fifth-generation descendant of the founder of French luxury goods company Hermes, wants

By Anna Cooban, CNN London (CNN) — The European Union is wielding its sweeping new rules for big online platforms in order to crack down on pornography sites Pornhub, Stripchat and XVideos. The European Commission, the bloc’s executive body, announced Wednesday that it had added the sites to its list of “very large online platforms”

By Nicole Goodkind, CNN New York (CNN) — Dealmaking is the bread and butter of Wall Street — but by some accounts this has been the worst year for mergers and acquisitions in about a decade. Initial public offerings have also suffered along the way, with very few companies making their stock market debuts. In

By Olivia LaBorde and Parija Kavilanz, CNN New York (CNN) — A Georgia-based company that makes many popular gift cards faces a lawsuit in California alleging it failed to take precautions to prevent scammers from draining gift cards of their value – a scam that experts say is common. The lawsuit, filed by San Francisco

By Samantha Delouya, CNN (CNN) — After three years of negotiating, Southwest Airlines and the union representing the airline’s pilots reached a tentative agreement on a new contract on Wednesday. “We know that the last few years have been difficult for our pilots as well as our customers, but we believe that this TA rewards

By Catherine Thorbecke, CNN New York (CNN) — OpenAI has laid out plans to prevent any worst-case scenarios that could arise out of the powerful artificial intelligence technology that it is developing. The company behind the mega-viral chatbot ChatGPT this week unveiled a 27-page “Preparedness Framework” document that outlines how it is working to track,

By Jennifer Korn, CNN (CNN) — The controversial social media platform Parler says it’s planning a comeback after shuttering in April following a string of controversies related to hate speech rules and illicit content. Parler is relaunching in the first quarter of 2024 to “return to its roots as a robust marketplace of ideas,” according

By Matt Egan, CNN New York (CNN) — As the world grapples with the existential crisis of climate change, environmental activists want President Joe Biden to phase out the oil industry, and Republicans argue he’s already doing that. Meanwhile, the surprising reality is the United States is pumping oil at a blistering pace and is

By Matt Egan and Chris Isidore, CNN New York (CNN) — Bipartisan opposition is growing to the proposed $14.1 billion acquisition of US Steel by Japan’s largest steelmaker, but that is unlikely to be enough to block the purchase, according to an expert in foreign investment deals. A trio of Republican senators Tuesday called for

By Pete Muntean, CNN New York (CNN) — Transportation Secretary Pete Buttigieg is warning that bad weather could disrupt holiday air travel. “We may see some bad weather around the holidays,” Buttigieg said, alongside FAA Administrator Mike Whitaker during a press conference at Reagan National Airport outside Washington, D.C. “Winter weather may be a challenge,