Money

By Hanna Ziady, CNN London (CNN) — Elon Musk has notched a victory against Swedish workers as a court ruled that Tesla can collect license plates for its cars from the country’s transport authority after postal workers refused to deliver them. In an interim judgement Monday seen by CNN, the district court in the city

Analysis by Hanna Ziady, CNN London (CNN) — “All the rich can afford a new car,” an elderly British woman commented at a recent protest in London against plans to expand a toll on older, polluting vehicles to outer suburbs of the city. “It’s affecting so many poor people… Everybody wants clean air but it’s

CNN By Nicole Goodkind, CNN New York (CNN) — WeightWatchers is betting that diet culture is over. Welcome to the age of Ozempic. Diet drugs have upended the weight loss business. The number of Americans taking semaglutide medication has increased 40-fold over the past five years, a contrast from decades of diet and exercise advice

By Ramishah Maruf, CNN New York (CNN) — Columbia University senior Yusuf Hafez was in class in late October when his friend alerted him that his photograph was being shown around the university on a truck under a banner that proclaimed he was among “Columbia’s Leading Antisemites,” according to a recent lawsuit. The conservative nonprofit, Accuracy

By Laura He, CNN Hong Kong (CNN) — The world’s second largest economy is undergoing a major transformation and is looking for new drivers of growth, according to China’s central bank governor. “China is experiencing a transition in its economic model,” Pan Gongsheng, the governor of the People’s Bank of China, told a group of

By Michelle Toh, CNN Hong Kong (CNN) — ByteDance, the Chinese tech giant behind TikTok, is pulling back from video gaming in a shift that will result in hundreds of job cuts. The Beijing-based company will wind down Nuverse, the unit that houses its video game studios, next month in an attempt to focus on

By Oliver Darcy, CNN (CNN) — The exodus from X is bleeding beyond just major advertisers. In recent days, a number of prominent media brands have not only paused their paid marketing campaigns on the embattled Elon Musk-owned social platform, but have ceased posting on it altogether, going silent on the once essential site that sought to be

By Liam Reilly, CNN (CNN) — Sports Illustrated on Monday said it had deleted several articles from its website after a report found the once-celebrated legacy magazine had published the pieces under fake author names and profile images generated by artificial intelligence. The report, which was published by Futurism, found that the magazine had repeatedly published articles whose authors could not be found online outside the Sports Illustrated website. The articles were all

Reuters Berlin — Volkswagen’s original brand is “no longer competitive,” the company’s brand chief warned Monday, owing to high costs and low productivity. “With many of our pre-existing structures, processes and high costs, we are no longer competitive as the Volkswagen brand,” Thomas Schaefer told staff during a meeting at the German carmaker’s headquarters in

By Michelle Toh and Eric Cheung, CNN Hong Kong/Taipei (CNN) — Alibaba founder Jack Ma has a new title: owner of “Ma’s Kitchen.” China’s most famous tech billionaire has thrown his weight behind a newly formed startup, whose name in English translates to “Hangzhou Ma’s Kitchen Food.” According to Chinese public records, the company was

By Michelle Toh, Lauren Izso and Alex Stambaugh, CNN Hong Kong/Jerusalem (CNN) — Elon Musk visited Israel Monday, meeting the country’s leaders and walking through a kibbutz destroyed by Hamas last month as he tried to calm outrage caused by his endorsement of an antisemitic post on his social media platform, X. Musk was taken

By Laura He, CNN Hong Kong (CNN) — The troubles besetting one of China’s biggest privately-owned financial conglomerates have deepened with Zhongzhi now at the centre of a criminal investigation. Beijing police have begun a probe into the wealth management unit of Zhongzhi Enterprise Group, the authorities said over the weekend. The announcement comes just

By Eva Rothenberg, CNN (CNN) — Since at least 2019, Meta has knowingly refused to shut down the majority of accounts belonging to children under the age of 13 while collecting their personal information without their parents’ consent, a newly unsealed court document from an ongoing federal lawsuit against the social media giant alleges. Attorneys

By Christopher Hickey, CNN Not even two years of soaring prices and mounting interest rates have stopped Americans from opening their wallets and tapping their credit cards. The consumer’s willingness to keep paying high prices has kept the US economy relatively strong, but that attitude could soon be shifting. Some experts think the combination of

By Clare Duffy and Rachel Ramirez, CNN New York (CNN) — Tomato growers in central India have been increasingly worried about the volatility that extreme weather events have brought to the region. For much of the area, the last decade has been punctuated by severe droughts that led to significant crop loss, impacting the livelihoods

By Parija Kavilanz, CNN New York (CNN) — Let the shopping games begin. Deal-hunters headed to their favorite stores in person and online on the day after Thanksgiving to bag what they hope are some of the best early bargains of the year-end holiday period. So are the start-of-the-season deals enticing enough for shoppers or

By Olesya Dmitracova, CNN London (CNN) — It has taken nearly a month, but workers striking against Tesla in Sweden have finally drawn a response from the company’s famously anti-union boss. “This is insane,” CEO Elon Musk said Thursday on X, the platform formerly known as Twitter that he owns. Musk was responding to news

By Wayne Chang and Michelle Toh, CNN Taipei/Hong Kong (CNN) — Terry Gou, the billionaire founder of major Apple supplier Foxconn, withdrew from the race to become Taiwan’s next president on Friday, just hours before the deadline to formally register as a candidate. “I have never yielded in the battlefield of international business,” Gou said in

By Olesya Dmitracova, CNN London (CNN) — Oil and gas producers must confront a “pivotal” choice: continue to accelerate the climate crisis or become part of the solution, the International Energy Agency said in a report Thursday. The industry currently accounts for only 1% of global investment in clean energy, and continues to pump out

By Peter Valdes-Dapena, CNN (CNN) — Electric cars are supposed to be the future, but they still have issues that are keeping away many car buyers. The range is too short. The batteries are too heavy and expensive. They take too long to charge. But a number of companies say they have the technology to

By Diksha Madhok and Juliana Liu, CNN New Delhi/Hong Kong (CNN) — A major wealth management company in China has told investors it can’t pay all its bills, reigniting fears that the country’s long-running real estate slump may be spilling over into the $3 trillion shadow banking sector. Zhongzhi Enterprise Group (ZEG) wrote to investors

By Michelle Toh, CNN Hong Kong (CNN) — Jack Ma has put off plans to sell hundreds of millions of dollars worth of Alibaba shares after the Chinese tech giant’s stock plummeted last week. Two regulatory filings from last Thursday revealed that Ma had been looking to offload 10 million shares, worth nearly $871 million.

By Rhea Mogul, CNN Hong Kong (CNN) — A Kashmir journalist who was arrested under India’s sedition and anti-terror laws has returned home Thursday after being released on bail following nearly two years behind bars. Fahad Shah, founding editor of The Kashmir Walla, an independent news outlet in Indian-administered Kashmir, was accused of publishing “anti-national content”

By Brian Fung, CNN (CNN) — The leadership crisis that engulfed OpenAI for nearly a week ended almost as abruptly as it began: With a terse, cryptic announcement by the company that would have enormous ramifications for its future. In some ways, the outcome was a return to the status quo: Sam Altman would be

By Jennifer Korn, CNN (CNN) — Spotify’s new royalty system means so-called functional noises like the sound of rainfall will earn significantly less than traditional music files. In an attempt to crack down on “bad actors” using the genre to fraudulently generate revenue, Spotify announced in a blog post Tuesday it would be increasing the

By Oliver Darcy and Liam Reilly, CNN (CNN) — Some of the world’s most recognizable brands have opted to continue their advertising partnerships with X despite the surge in hate speech on the platform and owner Elon Musk’s continued peddling of misinformation and right-wing conspiracy theories, including an endorsement last week of an antisemitic post.

Oil prices tumbled more than 4% Wednesday after a group of the biggest oil producing nations said they would delay a meeting, originally scheduled for Sunday, that was expected to discuss making further cuts to global supply.

By Elisabeth Buchwald, Bryan Mena and Nicole Goodkind, CNN New York (CNN) — The US government just sent a clear message to the world of cryptocurrency, a market valued at around $1.4 trillion. Just as crypto investors were hoping to move on from the historic conviction of Sam Bankman-Fried, the disgraced founder and former CEO of

CNN By Jennifer Korn and Paul Glader, CNN (CNN) — When technology firm OpenAI ousted its CEO Sam Altman last week with little warning and less explanation, it set off shockwaves throughout Silicon Valley and beyond. Late Tuesday, in a complete reversal, he rejoined the controversial firm he had helped found, effectively bouncing from the

By Jennifer Korn and Paul Glader, CNN (CNN) — When technology firm OpenAI ousted its CEO Sam Altman last week with little warning and less explanation, it set off shockwaves throughout Silicon Valley and beyond. Late Tuesday, in a complete reversal, he rejoined the controversial firm he had helped found, effectively bouncing from the board

By Luciana Lopez, CNN New York (CNN) — Economist Larry Summers, the former Obama and Clinton official, is joining an initial, revamped OpenAI board, as the company welcomes back CEO Sam Altman just days after he was ousted by the previous board. The addition of former Clinton Treasury Secretary Summers — as well as former

CNN By Clare Duffy, CNN New York (CNN) — At least a dozen major brands have halted ad spending on X, formerly Twitter, since its latest advertiser exodus began last week over concerns about antisemitism and hate speech on Elon Musk’s social media platform. Fox Sports, Ubisoft, Axios, TechCrunch and Paris Hilton’s 11:11 Media all

By Anna Cooban, CNN London (CNN) — The European Union is pulling its advertisements from Elon Musk’s X for now, citing an “alarming increase” in hate speech and disinformation on the platform formerly known as Twitter. A more drastic move could come next year. The European Commission, the bloc’s executive arm, could impose a fine

By Jordan Valinsky, CNN New York (CNN) — Warren Buffett is donating about $870 million to four family-run foundations ahead of the Thanksgiving holiday, continuing a tradition of giving away his massive wealth of about $120 billion. The donations are in the form of shares, with a release from his Berkshire Hathaway conglomerate detailing that

By Clare Duffy and Diksha Madhok, CNN New York/New Delhi (CNN) — In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating. Sam Altman — the leader of one of the

By Michelle Toh and Nectar Gan, CNN Hong Kong (CNN) — The chairman and CEO of Chinese video game live-streaming platform DouYu has been arrested, becoming the latest business leader to run afoul of authorities in the world’s second largest economy. DouYu (DOYU) said in a regulatory filing Tuesday that its chief, Chen Shaojie, had

By Liam Reilly and Clare Duffy, CNN (CNN) — Paris Hilton’s entertainment company 11:11 Media has pulled an advertising campaign from Elon Musk’s X just one month after announcing an exclusive partnership with the platform, becoming the latest brand to halt ad spending on the site formerly known as Twitter over concerns about antisemitism and pro-Nazi content on the site. “11:11 Media

By Allison Morrow, CNN New York (CNN) — There are few figures in crypto that have loomed quite as large in the past few years than Changpeng Zhao — better known as CZ — and the company he founded in 2017, Binance. Not only is Binance the world’s biggest crypto exchange, it is orders of

By Brian Fung and Samantha Delouya, CNN Washington (CNN) — A group of House Democrats has accused X, the platform formerly known as Twitter, of profiting from Hamas propaganda and misinformation about the Israel-Hamas war after reports by independent researchers found numerous accounts glorifying the US-sanctioned terror group. More than two dozen US lawmakers signed

By Oliver Darcy, CNN (CNN) — After days of silence following X owner Elon Musk’s endorsement of an antisemitic post, the NFL said Tuesday that it has conveyed its displeasure with the social media company. “The NFL unequivocally denounces all forms of hate speech and discrimination,” Brian McCarthy, the NFL’s chief spokesperson, said in a

By Brian Fung, CNN (CNN) — Some legal experts are panning Elon Musk’s lawsuit targeting the watchdog group Media Matters, saying the complaint filed Monday by X, the platform formerly known as Twitter, runs contrary to the First Amendment and could backfire wildly — if it progresses at all. The lawsuit filed Monday accuses Media

By Matt Egan, Evan Perez, Allison Morrow, Holmes Lybrand, Sean Lyngaas and Bryan Mena, CNN New York (CNN) — Billionaire Changpeng Zhao and leading cryptocurrency exchange Binance pleaded guilty on Tuesday to federal charges in a watershed moment designed to bring order to the often-lawless crypto industry. As part of a coordinated settlement across the

CNN By Brian Fung, CNN (CNN) — Nearly a week into a leadership crisis that’s thrown the artificial intelligence industry into chaos, OpenAI’s future along with that of its former CEO Sam Altman remain as uncertain as ever. If Altman’s abrupt ouster came as a surprise, it was nothing compared to the ensuing chaos and

By Brian Fung, CNN (CNN) — Nearly a week into a leadership crisis that’s thrown the artificial intelligence industry into chaos, OpenAI’s future along with that of its former CEO Sam Altman remain as uncertain as ever. If Altman’s abrupt ouster came as a surprise, it was nothing compared to the ensuing chaos and whiplash

By Jordan Valinsky, CNN New York (CNN) — Kim Kardashian’s private equity firm has announced its first investment: A company that makes truffle-infused sauces that sell for about $20 a bottle. SKKY Partners, the company she formed last year with a former executive at Carlyle Group, has acquired a “significant minority stake” in Truff sauces.

CNN By Alicia Wallace, CNN Arden Hills, Minnesota (CNN) — In 2023, the surge in responsible investing hit a wall. Environmental, social and governance (ESG) initiatives buckled under the pressure of economic and political forces, including efforts by congressional Republicans and conservative-led states to limit “woke” investments that prioritize “agendas and ideology.” But in America’s

By Alicia Wallace, CNN Arden Hills, Minnesota (CNN) — In 2023, the surge in responsible investing hit a wall. Environmental, social and governance (ESG) initiatives buckled under the pressure of economic and political forces, including efforts by congressional Republicans and conservative-led states to limit “woke” investments that prioritize “agendas and ideology.” But in America’s Heartland,

By Matt Egan, CNN (CNN) — Brands are being “irresponsible” by continuing to advertise on Elon Musk’s X after the billionaire endorsed antisemitic views, according to Yale professor Jeffrey Sonnenfeld. “It’s self-destructive for any advertiser to be associated with him. It’s pathological,” Sonnenfeld, dean for leadership studies at the Yale School of Management, told CNN

By Michelle Toh, CNN Hong Kong (CNN) — Mastercard has won long-awaited approval to expand its offerings in China’s huge payments market, days after the country’s leader personally sought to improve business ties between Beijing and Washington. The US credit card giant announced Monday that it had received clearance from China’s central bank and the

By Michelle Toh, CNN Hong Kong (CNN) — Another business leader in China is being probed by the country’s anti-graft watchdog, in a sign of an ongoing crackdown in the world’s second largest economy. Zhou Jun, president of state-owned Shanghai Industrial Investment, is under investigation by the Shanghai Municipal Commission for Discipline Inspection, a branch

By Chris Isidore, CNN New York (CNN) — Kyle Vogt, the head of General Motors’ self-driving car unit Cruise, resigned from the company late Sunday. His departure came the day after he apologized to the unit’s employees for problems that led to action from state and federal regulators in the wake of a series of

By Clare Duffy and Oliver Darcy, CNN New York (CNN) — A “groundswell” of advertising executives have urged X chief executive Linda Yaccarino to resign from her role at the embattled social media company in the wake of an advertiser exodus and scrutiny over owner Elon Musk’s antisemitic remarks on the platform, according to marketing industry veteran Lou Paskalis.

By Clare Duffy, CNN New York (CNN) — Elon Musk on Monday boosted the dangerous, years-old “Pizzagate” conspiracy theory in a post on X, the platform formerly known as Twitter, just days after being roundly criticized and facing an advertiser exodus following his embrace of an antisemitic conspiracy theory. In a post Monday, an X

CNN By Clare Duffy, CNN New York (CNN) — Elon Musk on Monday boosted the dangerous, years-old “Pizzagate” conspiracy theory in a post on X, the platform formerly known as Twitter, just days after being roundly criticized and facing an advertiser exodus following his embrace of an antisemitic conspiracy theory. In a post Monday, an

By Samantha Delouya, CNN (CNN) — Microsoft’s CEO Satya Nadella hinted on Monday that he was still open to Sam Altman rejoining OpenAI – despite an announcement earlier in the day that Altman would join Microsoft’s artificial intelligence innovation division. Nadella said he was “open to both options” when asked in a Monday CNBC interview

By Brian Fung and Clare Duffy, CNN (CNN) — After a devastating advertiser exodus last week involving some of the world’s largest media companies, X owner Elon Musk is suing the progressive watchdog group Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X — a report that appeared to play a significant

By Donie O’Sullivan and Audrey Ash, CNN (CNN) — Ben Brody says his life was going fine. He had just finished college, stayed out of trouble, and was prepping for law school. Then, seemingly out of nowhere, Elon Musk used his considerable social media clout to amplify an online mob’s misguided rants accusing the 22-year-old

By Clare Duffy, CNN New York (CNN) — The artificial intelligence industry was shaken by tectonic shifts over the weekend. Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the space — was fired Friday night by the startup’s board in a

By Oliver Darcy, CNN (CNN) — The White House on Monday joined the social media platform Threads, delivering a boost to Meta’s X competitor as Elon Musk faces backlash for endorsing an antisemitic conspiracy theory. The White House launched its own official account, as well as accounts for the president, first lady, vice president, and second

By Brian Fung, CNN (CNN) — A sudden and seismic leadership crisis at OpenAI has led to a revolving door of CEOs at the artificial intelligence company, with tech entrepreneur Emmett Shear becoming the latest to take the helm on Monday. Just days earlier, OpenAI’s board abruptly ousted then-CEO Sam Altman, installing Chief Technology Officer

By Krystal Hur, CNN New York (CNN) — Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday,

By Brian Fung, CNN (CNN) — Tech CEOs are once again being summoned to Congress to testify about their business practices — and this time, the US Marshals Service is getting involved. On Monday, the Senate Judiciary Committee said it had subpoenaed three top social media executives — X CEO Linda Yaccarino, Snap CEO Evan

CNN By Alexandra Banner, CNN (CNN) — A few days before Thanksgiving, the White House appears eager to promote dropping prices on everything from gas to the cost of turkeys as many Americans grapple with a holiday cash crush. The push to highlight easing prices comes as the Biden administration has struggled to move the

By Brian Fung, CNN (CNN) — Hundreds of OpenAI staffers are calling for the resignation of the ChatGPT company’s board, and threatening to quit themselves, after a tumultuous weekend that began with the surprise ouster of CEO Sam Altman and ended with Altman being hired by Microsoft. In a letter obtained by CNN, the more

By Hanna Ziady, CNN London (CNN) — Javier Milei won Argentina’s presidential election Sunday on a ticket to overhaul South America’s No. 2 economy and ditch its peso currency in favor of the US dollar. Will the Libertarian’s radical plans see the light of day? Milei’s La Libertad Avanza coalition won the election with nearly

By Brian Fung, CNN (CNN) — A sudden and seismic leadership crisis at OpenAI has led to a revolving door of CEOs at the artificial intelligence company, with tech entrepreneur Emmett Shear becoming the latest to take the helm on Monday. Just days earlier, OpenAI’s board abruptly ousted then-CEO Sam Altman, installing Chief Technology Officer

By Jordan Valinsky, CNN New York (CNN) — Soccer superstar Lionel Messi is no stranger to breaking records, and he’s about to possibly add another to his list. A set of six jerseys that he wore during last year’s World Cup, which his home country of Argentina won, are being put up for auction by

By Chris Isidore, CNN New York (CNN) — Kyle Vogt, the head of General Motors’ self-driving car unit Cruise, resigned from the company late Sunday. His departure came the day after he apologized to the unit’s employees for problems that led to action from state and federal regulators in the wake of a series of

By Matt Egan, CNN New York (CNN) — Tesla’s board of directors should suspend Elon Musk for endorsing antisemitic views on social media, according to one investor in the electric vehicle company. Jerry Braakman, president of First American Trust, wants Tesla’s board to send a clear message that Musk went too far last week by agreeing with an

By Krystal Hur, CNN New York (CNN) — Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. Shares of the tech behemoth rose over 2% on Monday to hit $378.81, before retreating slightly.

By Brian Fung, CNN (CNN) — Hundreds of OpenAI staffers are calling for the resignation of the ChatGPT company’s board, and threatening to quit themselves, after a tumultuous weekend that began with the surprise ouster of CEO Sam Altman and ended with Altman being hired by Microsoft. In a letter obtained by CNN, the more

By Diksha Madhok and David Goldman, CNN New Delhi/New York (CNN) — Microsoft has hired Sam Altman to power up its innovation in artificial intelligence after the co-founder of OpenAI was ousted as CEO in a chaotic boardroom coup on Friday. Meanwhile, the ChatGPT company will get its third CEO in three days. It’s another