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By Matt Egan, CNN Business New York (CNN Business) — During a closed-door meeting with business leaders on Thursday, Treasury Secretary Janet Yellen stressed that the United States wants to work with China on urgent global challenges, a person familiar with the matter told CNN. The comments by Yellen signal increased efforts by US officials
Continue ReadingBy Samantha Delouya, CNN (CNN) — General Motors electric vehicle owners can soon access Tesla’s vast network of electric vehicle fast chargers, called Superchargers, both companies announced Thursday. GM said it will begin to integrate Tesla’s charging ports, dubbed the North American Charging Standard (NACS), into new EVs in 2025. “Not only will it help
Continue ReadingBy Anna Bahney, CNN Washington, DC (CNN) — Middle income home buyers in the United States are finding little on the market to buy, even if they can qualify and afford a mortgage. These would-be buyers face the most severe housing shortage of any other income bracket, according to a new analysis from the National
Continue ReadingBy Tami Luhby, CNN New York (CNN) — Elevated by a strong stock market, Americans’ household wealth rose to nearly $149 trillion in the first quarter of 2023, new federal data shows. But that’s still several trillion dollars shy of its recent peak. The net worth of households rose by $3 trillion in the early
Continue ReadingBy Nicole Goodkind, CNN New York (CNN) — Wall Street is feeling bullish again. The S&P 500 rallied Thursday to end the day in a bull market, marking a 20% surge since its most recent low, reached on October 12, 2022. That brings to end the bear market that began in January 2022. Buoyed by
Continue ReadingBy Brian Fung, CNN (CNN) — Louisiana lawmakers have sent a bill to the state’s governor that would require online platforms to obtain a parent’s consent before creating an account for users under 18, the latest in a raft of legislation restricting digital services for kids and teens. The legislation, known as HB61, covers a
Continue ReadingBy Jennifer Korn New York (CNN) — For a brief moment last month, an image purporting to show an explosion near the Pentagon spread on social media, causing panic and a market sell-off. The image, which bore all the hallmarks of being generated by AI, was later debunked by authorities. But according to Jeffrey McGregor,
Continue ReadingCNN By Jordan Valinsky, CNN New York (CNN) — “Messi mania” has reached the United States, if ticket prices are any indication. On Wednesday, soccer superstar Lionel Messi said he’s going to join the Major League Soccer club Inter Miami, a blockbuster announcement that shocked the sporting world — more so since it followed rumors
Continue ReadingBy Jordan Valinsky, CNN New York (CNN) — “Messi mania” has reached the United States, if ticket prices are any indication. On Wednesday, soccer superstar Lionel Messi said he’s going to join the Major League Soccer club Inter Miami, a blockbuster announcement that shocked the sporting world — more so since it followed rumors of
Continue ReadingBy Brian Fung, CNN (CNN) — A top European Union official plans to confront Meta CEO Mark Zuckerberg in an in-person meeting over reports this week that the company has failed to prevent the spread of child sexual abuse material on its platform. Thierry Breton, a European commissioner who has led the charge on regulating
Continue ReadingBy Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates dropped this week after a three-week climb, as rates remain volatile amid conflicting economic indicators. The 30-year fixed-rate mortgage averaged 6.71% in the week ending June 8, down from 6.79% the week before, according to data from Freddie Mac released Thursday. A year ago, the
Continue ReadingBy Alicia Wallace, CNN Minneapolis (CNN) — US companies wary about their economic prospects are battening down the hatches. Recent job market data shows more and more businesses have taken to “labor hoarding” and maintaining headcounts even as demand softens. Hiring has scaled back and so have layoffs (to an extent), as firms try to
Continue ReadingCNN By Nicole Goodkind and Nathaniel Meyersohn, CNN New York (CNN) — Some of the worst air quality levels on record on the East Coast are impacting consumer shopping patterns and driving air purifier stocks higher. People are rushing to buy air filters, humidifiers and high-quality masks on Amazon amid Canadian wildfires that have smothered
Continue ReadingBy Nicole Goodkind and Nathaniel Meyersohn, CNN New York (CNN) — Some of the worst air quality levels on record on the East Coast are impacting consumer shopping patterns and driving air purifier stocks higher. People are rushing to buy air filters, humidifiers and high-quality masks on Amazon amid Canadian wildfires that have smothered large
Continue ReadingBy Matt Egan, CNN New York (CNN) — White House officials on Thursday hailed the unclogging of supply chains and suggested that further easing of bottlenecks will help cool inflation. The one-two punch of the Covid pandemic and Russia’s invasion of Ukraine brought fragile supply chains to the breaking point. That supply stress sent consumer
Continue ReadingCNN By Kristina Sgueglia, CNN (CNN) — The Federal Aviation Administration delayed flights into New York and Newark, New Jersey, and it briefly halted flights bound for Philadelphia International Airport and New York’s LaGuardia airport, as smoke from Canadian wildfires continues to spread across the northeastern United States. The so called ground stop required planes
Continue ReadingBy Brian Fung, CNN (CNN) — US officials have long insisted the Chinese government may be able to view the personal information of TikTok users — but that claim was purely speculative. Until now. In what appears to be a first, a former employee of ByteDance, TikTok’s Beijing-based parent company, has outlined specific claims that
Continue ReadingBy Kristina Sgueglia, CNN (CNN) — The Federal Aviation Administration delayed flights into New York and Newark, New Jersey, and it briefly halted flights bound for Philadelphia International Airport and New York’s LaGuardia airport, as smoke from Canadian wildfires continues to spread across the northeastern United States. The so called ground stop required planes scheduled
Continue ReadingBy Matt Egan, CNN New York (CNN) — Coinbase CEO Brian Armstrong is confident his battle with federal regulators will benefit the crypto industry, no matter how the judge rules. For years, the crypto space has operated in a regulatory no-man’s land where there is much uncertainty over what is and isn’t allowed — and
Continue ReadingCNN By Matt Egan, CNN New York (CNN) — Coinbase CEO Brian Armstrong is confident his battle with federal regulators will benefit the crypto industry, no matter how the judge rules. For years, the crypto space has operated in a regulatory no-man’s land where there is much uncertainty over what is and isn’t allowed —
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