Money

By Ramishah Maruf, Parija Kavilanz and Cheri Mossburg, CNN New York (CNN) — Target is closing nine stores in major cities across four states, claiming theft and organized retail crime have made the environment unsafe for staff and customers – and unsustainable for business. The big box chain is part of a wave of retailers

By Brian Fung, CNN (CNN) — European Union officials on Tuesday called on large social media platforms to step up their enforcement against online mis- and disinformation, particularly about the war in Ukraine. In prepared remarks Tuesday, European Commission Vice President Vera Jourova particularly criticized X, the platform formerly known as Twitter, as having the

By Anna Cooban, CNN London (CNN) — Alibaba said Tuesday that it would spin off Cainiao, its logistics arm, in what will be the conglomerate’s first initial public offering since it announced a sweeping revamp of its business earlier this year. Alibaba Group (BABA) said in a regulatory filing that it had received regulatory approval

By Lauren del Valle, CNN New York (CNN) — JPMorgan Chase has reached a settlement with the US Virgin Islands over a lawsuit alleging the bank enabled Jeffrey Epstein’s sex-trafficking crimes. The settlement includes “significant commitments” by JPMorgan Chase to curtail human trafficking, and a $75 million payment to the US Virgin Islands. The USVI

By Alicia Wallace, CNN Minneapolis (CNN) — Buy Now, Pay Later installment payment offerings appear to be disproportionately used by people facing financial difficulties, raising concerns about the potential for greater money trouble, according to research from the Federal Reserve Bank of New York released Tuesday. Buy Now, Pay Later offerings have grown in popularity

By Brian Fung, CNN (CNN) — The US government aims to restore sweeping regulations for high-speed internet providers such as AT&T, Comcast and Verizon, reviving “net neutrality” rules for the broadband industry — and an ongoing debate about the internet’s future. The proposed rules from the Federal Communications Commission will designate internet service — both

By Laura He, CNN Hong Kong (CNN) — Evergrande Group has just missed another bond payment, casting further doubt over the future of the embattled property developer at the epicenter of China’s real estate crisis. Hengda Real Estate, Evergrande’s flagship unit in mainland China, missed principal and interest payments on Monday on an onshore 4

By Michelle Toh and Wayne Chang, CNN Hong Kong/Taipei (CNN) — China and the European Union have agreed to exchange information on export controls as part of efforts to dial down tension over trade imbalances and geopolitical issues. Europe’s trade chief said the relationship was at a “crossroads” and the bloc’s exporters needed better access

By Anna Cooban, CNN London (CNN) — Global demand for oil, natural gas and coal is likely to peak by 2030 — an “encouraging” development but “not nearly enough” to limit the rise in global temperatures to 1.5 degrees Celsius, the International Energy Agency said Tuesday. Planet-heating pollution from the energy sector is also set

By Kevin Dotson, CNN (CNN) — The surprise attendance of pop superstar Taylor Swift at Sunday’s Kansas City Chiefs game also brought an unexpected surge in sales of Chiefs’ tight end Travis Kelce’s jersey, according to sports retailer Fanatics. “Yesterday, Travis Kelce was one of the top five selling NFL players and saw a nearly

By Ramishah Maruf, CNN (CNN) — 3M has agreed to pay almost $10 million to settle apparent violations of Iranian sanctions, the US Office of Foreign Assets Control said last week. The agency said 3M had 54 apparent violations of OFAC sanctions on Iran. It said between 2016 and 2018, a 3M subsidiary in Switzerland

By Vanessa Yurkevich, CNN (CNN) — United Auto Workers union President Shawn Fain will join President Joe Biden on the picket line Tuesday in Wayne County, Michigan, according to a source familiar with the situation. The source provided no specifics about the exact location. The UAW, however, is not involved with former President Donald Trump’s

By Jackie Wattles, CNN (CNN) — Jeff Bezos’ space tourism and rocket company is replacing its chief executive officer with a longtime Amazon executive. The current Blue Origin CEO, Bob Smith — a former Honeywell executive who took over the role in 2017 — will step down and make way for Dave Limp, the senior

By Peter Valdes-Dapena, CNN (CNN) — Ford is pausing work on a new, $3.5 billion electric vehicle battery plant in Michigan, even as the transition to electric vehicles has become a major sticking point in a United Auto Workers strike against automakers Ford, GM and Stellantis. No final decision has been made on whether the

By Eva Rothenberg, CNN (CNN) — Now that the Writers Guild of America (WGA) has reached a tentative agreement with the Alliance of Motion Picture and Television Producers (AMPTP), the trade association representing major Hollywood studios, all eyes have turned toward SAG-AFTRA, the union representing about 160,000 actors. While late night and talk programs like

By Matt Egan, CNN Business New York (CNN Business) — The cost of living continues to stress out American workers, even as inflation eases from four-decade highs. Sixty-seven percent of employees say the cost of living is outpacing growth in their salary and wages, according to a Bank of America survey shared exclusively with CNN

By Brian Fung, CNN (CNN) — Amazon said on Monday that it’s investing up to $4 billion into the artificial intelligence company Anthropic in exchange for partial ownership and Anthropic’s greater use of Amazon Web Services (AWS), the e-commerce giant’s cloud computing platform. The deepening partnership between the two companies highlights how some large tech

By Michelle Toh and Carina Cheng Hong Kong (CNN) — Huawei has disappointed legions of fans — and US officials — eager to know more about its Mate 60 Pro smartphone, which has quickly become a symbol of the tech rivalry between the United States and China since it went on sale last month. Huawei’s

By Parija Kavilanz, CNN New York (CNN) — American consumers aren’t tired of shopping. They’re shopping more prudently, with an eye on getting the best value, sure. But they’re also rewarding the stores that are betting big on the right trends at the right time, for the right price. US households, to be sure, have

By Laura He, CNN Hong Kong (CNN) — Evergrande’s plan to restructure its massive debts is in trouble because of a regulatory probe into its main subsidiary, the embattled Chinese developer said Sunday. The company said in a statement that it is “unable to meet the qualifications” for issuing new notes, which refer to short

CNN By Oliver Darcy and Chris Isidore, CNN Los Angeles (CNN) — The major film and television studios and striking writers reached a tentative agreement on Sunday after days of marathon negotiating sessions, the Writers Guild of America said Sunday evening, paving a path forward to end the historic work stoppage that has frozen production

By Oliver Darcy and Chris Isidore, CNN Los Angeles (CNN) — The major film and television studios and striking writers reached a tentative agreement on Sunday after days of marathon negotiating sessions, the Writers Guild of America said Sunday evening, paving a path forward to end the historic work stoppage that has frozen production and

By Chris Isidore, CNN New York (CNN) — As important as wages and benefits are in the unprecedented United Auto Workers strike against General Motors, Ford and Stellantis, nothing is more important than job security. And so it is significant that UAW President Shawn Fain said the union has made major progress recently in negotiations

By Eva Rothenberg, CNN (CNN) — Innocent until proven guilty might hold up in the court of law, but the court of public opinion tends to play by hazier rules. From celebrity scandals to business blunders, crisis communication is a cornerstone of public relations. It’s a specialty of PR dealing with protecting reputation, because a

By Eva Rothenberg and Chris Isidore, CNN (CNN) — After four days of marathon negotiations, the Writers Guild of America could reach a deal with major film and television studios as early as Sunday, people familiar with the matter told CNN. The major film and television studios on Saturday evening delivered their “best and final”

CNN By Eva Rothenberg and Chris Isidore, CNN (CNN) — After four days of marathon negotiations, the Writers Guild of America could reach a deal with major film and television studios as early as Sunday, people familiar with the matter told CNN. The major film and television studios on Saturday evening delivered their “best and

By Oliver Darcy and Chris Isidore, CNN (CNN) — The major film and television studios on Saturday evening delivered their “best and final” offer to the striking writers, a person close to the situation told CNN, adding to significant hope that the negotiations to end the months-long strike will conclude with an agreement this weekend.

By Eva Rothenberg and Chris Isidore, CNN (CNN) — Members of Canada’s autoworkers union, Unifor, ratified a tentative three-year agreement with Ford on Sunday after the union had reached an 11th-hour agreement last week to avert a possible strike. The deal, which Unifor called “exceptional,” was unanimously endorsed by leadership from the local unions on

Michelle Watson, CNN (CNN) — The Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers (AMPTP) will continue talks Saturday for the fourth straight day, the WGA negotiation committee said in a message to union members. “Thank you for the wonderful show of support on the picket lines today! It

By Anna Cooban, CNN London (CNN) — In May, Viveca Chow hurriedly transferred $3,700 over her phone while standing in the lobby of a building in Queens, New York. She made the upfront payment to secure an apartment minutes after seeing it. It was a moment the 28-year-old lifestyle influencer — forced to leave her

Marshall Cohen, CNN (CNN) — Smartmatic, the voting technology company suing Fox News and former President Donald Trump’s top allies over their false claims that its machines rigged the 2020 election, was implicated in an alleged bribery scheme involving the former top election official in the Philippines, according to court filings obtained by CNN. The

By Elisabeth Buchwald New York (CNN) — Sen. Bob Menendez, allegedly accepted gold bar bribes, prosecutors allege, according to a newly unsealed federal indictment. Wait, you can own gold bars? Yes. It’s actually a booming trend. (Spokespeople for Menendez didn’t respond to CNN’s request for comment. Separately, he released a statement on Friday calling the

Cheri Mossburg, CNN (CNN) — California will now let insurance companies consider climate change when offering policies, in exchange for a mandate requiring them to offer coverage in wildfire-prone areas, state leaders announced on Thursday. “We are at a major crossroads on insurance after multiple years of wildfires and storms intensified by the threat of

By Jennifer Korn, CNN New York (CNN) — Companies are struggling to deal with the rapid rise of generative AI, with some rushing to embrace the technology as workflow tools for employees while others shun it – at least for now. As generative artificial intelligence – the technology that underpins ChatGPT and similar tools –

Even the unlimited breadsticks at Olive Garden and wooden rocking chairs at Cracker Barrel can’t seem to lure back the baby boomers.

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — The United Auto Workers union is expanding its strike against GM and Stellantis but said that progress in negotiations with Ford means it won’t expand the number of Ford workers on the picket lines. UAW President Shawn Fain made the announcement on Friday morning.

By Brian Fung, CNN (CNN) — Microsoft’s proposed multibillion-dollar purchase of Activision Blizzard took a step closer to fruition on Friday as UK regulators said an amended version of the deal is likely to resolve their concerns over the acquisition. In a statement, the UK Competition and Markets Authority (CMA) said that changes Microsoft (MSFT)

By Matt Egan, CNN New York (CNN Business) — Corporate America’s leaders are mentally preparing for an especially long and chaotic government shutdown. Executives worry a protracted government shutdown will only add uncertainty to an already confusing business environment. In an era of persistent inflation, labor strikes and rising borrowing costs, they argue it would

By Olesya Dmitracova, CNN London (CNN) — Warner Bros. Discovery has announced plans for a major expansion of the UK studios where “Barbie” — its biggest movie of all time — was filmed. The expansion will increase the production capacity at the studios in the Leavesden area, on the outskirts of London, by more than

By Michelle Toh, CNN Hong Kong (CNN) — GGV Capital, a prominent Silicon Valley venture capital firm, has become the latest big investor to break up its US and China operations into separate companies as tensions between the two countries over tech and geopolitics continue to rise. The firm announced Thursday that it would divide

By Laura He, CNN Hong Kong (CNN) — China is allowing foreigners in Shanghai and Beijing to move their money freely into and out of the country, in a significant move toward relaxing its strict capital controls as it tries to woo overseas investors. The news was announced just weeks after official data showed foreign

By Jessie Yeung and Francesca Annio, CNN Tokyo (CNN) — The iconic Japanese animation company Studio Ghibli, which created internationally beloved films including “My Neighbor Totoro” and “Spirited Away,” has been sold to Nippon TV after failing to find a successor for its legendary co-founder and director Hayao Miyazaki. The two companies’ board of directors

By Michelle Toh, CNN Hong Kong (CNN) — Union workers have called off strikes at liquefied natural gas facilities belonging to Chevron in Australia, ending a standoff that could have affected about 7% of global LNG supply. Both Chevron (CVX) and Offshore Alliance, which represents the Australian Workers’ Union and the Maritime Union of Australia,

By Catherine Thorbecke, CNN (CNN) — YouTube on Thursday unveiled a slew of new artificial intelligence-powered tools to help creators produce videos and reach a wider audience on the platform, as companies race to incorporate buzzy generative AI technology directly into their core products. “We want to make it easier for everyone to feel like

By Jordan Valinsky, CNN Business New York (CNN) — The “face” of the Hawaiian Airlines logo, which has decorated the tails of its airplanes for decades, has passed away. Leina’ala Ann Teruya Drummond, Miss Hawaii 1964, died of cancer Monday at the age of 77 in Hilo, Hawaii. The Hawaiian native worked at the airline

CNN By Allison Morrow, CNN New York (CNN) — Lachlan Murdoch, the eldest son of Rupert Murdoch, has been anointed to take over his father’s vast media empire, capping years of rampant media speculation and thinly veiled fraternal feuding. The decision, announced Thursday, makes 52-year-old Lachlan the sole chairman of Fox News’ parent company, Fox

By Allison Morrow, CNN New York (CNN) — Lachlan Murdoch, the eldest son of Rupert Murdoch, has been anointed to take over his father’s vast media empire, capping years of rampant media speculation and thinly veiled fraternal feuding. The decision, announced Thursday, makes 52-year-old Lachlan the sole chairman of Fox News’ parent company, Fox Corporation,

By Catherine Thorbecke and Clare Duffy, CNN New York (CNN) — Nnete Matima said she was attracted to work at TikTok because of how the social media platform was “really built upon Black culture” and the work of Black creators. She saw and welcomed TikTok’s public pledge of support for the Black community in the

CNN By Oliver Darcy, CNN New York (CNN) — Rupert Murdoch, the powerful right-wing media mogul who built and oversaw one of the world’s most influential news empires, announced Thursday that he will step down as chairman of his companies, Fox Corporation and News Corporation. “For my entire professional life, I have been engaged daily

By Chris Isidore, CNN New York (CNN) — The negotiators for the Writers Guild of America and heads of major media companies are set to return to the table after a productive day of talks Wednesday. But filming of movies and shows still wouldn’t be able to resume unless the union representing actors also reaches

By Oliver Darcy, CNN New York (CNN) — Rupert Murdoch, the powerful right-wing media mogul who built and oversaw one of the world’s most influential news empires, announced Thursday that he will step down as chairman of his companies, Fox Corporation and News Corporation. “For my entire professional life, I have been engaged daily with

By Laura He, CNN Hong Kong (CNN) — China’s exports of two rare minerals essential for manufacturing semiconductors fell to zero in August, a month after Beijing imposed curbs on sales overseas, citing national security. China produces about 80% of the world’s gallium and about 60% of germanium, according to the Critical Raw Materials Alliance,

By Michelle Toh, CNN Hong Kong (CNN) — Huawei has joined the list of companies that want to be all about artificial intelligence. For the first time in about 10 years, the Chinese tech and telecoms giant announced its new strategic direction on Wednesday, saying it would shift its focus to AI. Previously, the company

By Samantha Delouya, CNN (CNN) — The threat of a strike at one competitor and the bankruptcy of another proved beneficial for FedEx this summer. Overall, adjusted earnings for FedEx’s fiscal first quarter were $4.55 a share, up from $3.44 a share this time last year. The company raised its earnings-per-share guidance for fiscal 2024

By Laura He and Berry Wang, CNN Hong Kong (CNN) — A Chinese wildlife conservation group issued an unusual appeal earlier this month. The Endangered Species Fund called for volunteers to donate food to hungry animals kept at a zoo inside Dongshan Park in the northern province of Liaoning. The zoo is run by the

CNN By Olga Voitovych, Manveena Suri and Lauren Kent, CNN Kyiv, Ukraine (CNN) — Ukraine endured a deadly nationwide Russian missile barrage targeting energy facilities in Kyiv and other cities on Thursday, just hours before President Volodymyr Zelensky was set to meet US President Joe Biden at the White House. Five people died in the

By Matt Egan, CNN (CNN) — Ukrainian President Volodymyr Zelensky met Wednesday evening in Manhattan with Wall Street CEOs and business power players to discuss efforts to rebuild his war-torn country and its economy, a person familiar with the matter tells CNN. The roundtable, convened by JPMorgan Chase, included former Google CEO Eric Schmidt, billionaire

By Vanessa Yurkevich, CNN (CNN) — Stellantis is immediately laying off 68 employees at the Toledo Machining Plant in Perrysburg, Ohio, due to the impact from the United Auto Workers union’s targeted strike at the Toledo Assembly Complex, the company said Wednesday. The layoffs will be temporary and are due to storage constraints, Stellantis said

By Jennifer Korn, CNN New York (CNN) — Elon Musk’s controversial biotechnology startup Neuralink opened up recruitment for its first human clinical trial Tuesday, according to a company blog. After receiving approval from an independent review board, Neuralink is set to begin offering brain implants to paralysis patients as part of the PRIME Study, the

By Brian Fung, CNN Washington (CNN) — A spokesman for former President Donald Trump said Wednesday that Donald Trump Jr.’s account on X – the platform formerly known as Twitter – had been compromised after the account began sharing a series of unusual and erratic posts. “Don’s account has been hacked,” Andrew Surabian posted on

By Elisabeth Buchwald, CNN New York (CNN) — At any given moment, if you want to know what the Federal Reserve is most likely to do at any of its meetings through the end of 2024, you can head to the Chicago Mercantile Exchange Group’s FedWatch Tool page. There, you will find a bar chart

By Hanna Ziady, CNN London (CNN) — The UK government said Wednesday it would delay a ban on the sale of new gas and diesel cars by five years, angering carmakers who warned the move would undermine the industry’s efforts to switch to electric vehicles. The delay was announced by Prime Minister Rishi Sunak as

By Michelle Toh, CNN Hong Kong (CNN) — Commerce Secretary Gina Raimondo says the US government has no evidence that Huawei can produce smartphones with advanced chips “at scale,” as it continues to investigate how the sanctioned Chinese manufacturer made an apparent breakthrough with its latest flagship device. On Tuesday, Raimondo told US lawmakers that

By Samantha Murphy Kelly, CNN (CNN) — You’re about to see people in public tapping two fingers together in the air. Over the past few days, I’ve been taking phone calls, playing music and scrolling through widgets on the new Apple Watch Series 9 without ever touching the device. I’ve used it to silence my

By Bryan Mena Washington, DC (CNN) — The Federal Reserve said Wednesday it will pause its rate hikes, keeping its benchmark lending rate at a 22-year high, while signaling fewer rate cuts next year. The move was widely expected, after the central bank signaled in recent weeks that it intended to wait for more data

By Nathaniel Meyersohn, CNN New York (CNN) — Looming over the United Auto Workers strike: Automakers’ continued migration to the anti-union South. Beginning in the 1970s and 1980s, the auto industry began shifting South, a region long characterized by hostility to labor unions and by low wages. Since then, assembly lines of higher-paid UAW workers