CNN – Business/Consumer

By Lauren del Valle, CNN New York (CNN) — A federal judge ruled Friday that the Manhattan District Attorney’s Office must turn over documents related to former JPMorgan Chase (JPM) executive James “Jes” Staley in response to a subpoena from the bank in ongoing federal lawsuits that allege JPMorgan enabled and benefited from longtime banking-client

CNN By Samantha Delouya, CNN New York (CNN) — At long last, the White House and House Republicans have reached a tentative agreement to raise the debt ceiling. But a deal isn’t over yet: Congress still needs to vote on the deal – far from a guaranteed outcome – and President Joe Biden would need

By Anna Bahney, CNN Washington, DC (CNN) — The credit ratings of US mortgage giants Freddie Mac and Fannie Mae were put on watch for possible downgrade by Fitch Ratings late Thursday. A downgrade is not expected to happen, as a deal to resolve the debt ceiling standoff continues to be worked out in Washington,

By Brian Fung, CNN Washington (CNN) — Twitter unveiled a new data access tier on Thursday aimed at attracting startups, after its decision to erect a paywall for developers and researchers prompted widespread backlash. But the new tier already has some describing it as “too little, too late.” The new paid tier, which the company

By Alicia Wallace, CNN Minneapolis (CNN) — The US economy has encountered some expected turbulence on inflation’s descent. The Federal Reserve’s preferred inflation gauge bounced higher in April, underscoring Fed Chair Jerome Powell’s warnings that reining in price hikes “is likely to be bumpy.” But with spending also heating up, Friday’s data from the Commerce

CNN, CNN BUSINESS By Alicia Wallace, CNN Minneapolis (CNN) — The US economy has encountered some expected turbulence on inflation’s descent. The Federal Reserve’s preferred inflation gauge bounced higher in April, underscoring Fed Chair Jerome Powell’s warnings that reining in price hikes “is likely to be bumpy.” But with spending also heating up, Friday’s data

By Anna Cooban, CNN London (CNN) — The world’s biggest investor in the stock market wants ExxonMobil and Chevron to do more to tackle the climate crisis. Norway’s sovereign wealth fund, which holds $1.4 trillion in total assets, announced Friday that it would back calls for the US oil companies to set more aggressive emission

By Michelle Toh, CNN Hong Kong (CNN) — Shein is plotting a major comeback in India, nearly three years after it was booted out of the country. The fast fashion giant is partnering with the retail arm of Mukesh Ambani’s Reliance Industries, a Shein spokesperson confirmed Friday. The tie-up with the richest man in the

By Matt Egan, CNN (CNN) — JPMorgan Chase informed about 1,000 First Republic Bank employees on Thursday that they will no longer have jobs. JPMorgan acquired most of First Republic’s assets earlier this month after the San Francisco-based regional bank was seized by the government. It marked the second-biggest bank failure in US history. A

By Samantha Delouya, CNN (CNN) — Ford electric vehicle owners will soon gain access to Tesla’s vast EV charging network, according to the CEOs of both companies. Beginning next year, Ford EV owners in the United States can use the Ford’s mobile app to use Tesla’s 12,000 Supercharger stations — the company’s name for its

By Jackie Wattles, CNN (CNN Business) — Virgin Galactic — the space tourism company founded by British billionaire Richard Branson — has returned its supersonic plane to the edge of space for the first time since 2021, when Branson made his own journey toward the cosmos. The company’s space plane, VSS Unity, carried two pilots

CNN By Brian Fung, CNN (CNN) — Microsoft joined a sprawling global debate on the regulation of artificial intelligence Thursday, echoing calls for a new federal agency to control the technology’s development and urging the Biden administration to approve new restrictions on how the US government uses AI tools. In a speech in Washington attended

By Allison Morrow, CNN New York (CNN Business) — After months of cat and mouse, lawyers for a group of FTX investors have served Shaquille O’Neal. Again. Plaintiffs’ attorneys say O’Neal has repeatedly dodged process servers who have been trying to hand-deliver legal complaints related to his role as a celebrity spokesperson for the cryptocurrency