CNN – Business/Consumer

By Matt Egan, CNN (CNN) — Senate Majority Leader Chuck Schumer and nearly two dozen Democrats pressed the Justice Department on Thursday to launch an industry-wide investigation into Big Oil for alleged collusion and price fixing. In a letter to Attorney General Merrick Garland, Schumer and his colleagues expressed “serious concern” about “alarming” allegations from

By Laura He, CNN Hong Kong (CNN) — China plans to invest around 6 billion yuan ($845 million) to develop next-generation battery technology powering electrical vehicles (EVs), even as its industrial policy has sparked overcapacity concerns and become a key target of US and European complaints. A total of six companies — including CATL, the

By Reuters (Sydney) — China has lifted bans on imports from five major Australian beef processing facilities, the Australian government said on Thursday, in the latest sign of improving relations between the two nations. Beijing has now removed restrictions from eight abattoirs but two remain subject to import bans, the government said. China imposed the

By Isabel Rosales and Chris Youd, CNN (CNN) — In yet another twist in the bizarre story of the dubious foreclosure threat against Elvis Presley’s iconic Memphis home, a person purporting to be involved in a scheme to steal Graceland responded to an email from CNN, claiming responsibility for the scam. “I didn’t win this

By Danielle Wiener-Bronner, CNN New York (CNN) — McDonald’s has a message for America: Rumors of Big Mac inflation are greatly exaggerated. “Recently, we have seen viral social posts and poorly sourced reports that McDonald’s has raised prices significantly beyond inflationary rates. This is inaccurate,” Joe Erlinger, president of McDonald’s USA, wrote in an open letter

By Jordan Valinsky, CNN New York (CNN) — Rest easy, America: Subway’s footlong cookie is back. Following a four-month long disappearance, Subway announced Wednesday the “triumphant return” of the oversized chocolate chip cookie, which was pulled from many restaurants less than two weeks after its January debut because of massive demand. The giant cookie was

By Sean Lyngaas, CNN (CNN) — A ransomware attack on a major US hospital network that began three weeks ago is endangering patients’ health as nurses are forced to manually enter prescription information and work without electronic health records, nurses at two hospitals affected by the cyberattack told CNN. “It’s putting patients’ lives in danger,”

By Nathaniel Meyersohn, CNN New York (CNN) — Goodbye 99 Cents Only. Hello Dollar Tree. Dollar Tree announced Wednesday it acquired leases for 170 of 99 Cents Only’s stores out of bankruptcy in Arizona, California, Nevada and Texas. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall.

By Marnie Hunter, CNN (CNN) — A lawsuit filed Wednesday on behalf of three Black men alleges “blatant and egregious race discrimination” by American Airlines when they were removed from a flight. The suit alleges that the plaintiffs – Alvin Jackson, Emmanuel Jean Joseph and Xavier Veal – and five other Black male passengers were

By Bryan Mena and Elisabeth Buchwald, CNN Washington (CNN) — The Federal Reserve Bank of Cleveland announced Wednesday that Beth M. Hammack will be its next president and chief executive officer after current president Loretta Mester retires at the end of June. Hammack, 52, joins the Cleveland Fed after three decades at Goldman Sachs. She

By Allison Morrow, CNN New York (CNN) — Customers of the crypto platform Gemini can expect to recover more than three times the value of their digital assets that were ensnared in the fallout of FTX — a rare outcome for creditors involved in a bankruptcy. Gemini, the exchange founded by Cameron and Tyler Winklevoss,

By Clare Duffy, CNN Jessup, Maryland (CNN) — In her first week of job training, Tiffany Joseph Busch learned how to do an oil change. “If I had known it was this easy then I wouldn’t have been paying for oil changes,” she said she told her instructor. But Busch never interacted with an actual

By Yoonjung Seo and Juliana Liu, CNN Seoul/Hong Kong (CNN) — A labor union representing tens of thousands of workers at Samsung Electronics in South Korea has called a one-day strike next week, in what would be the first such walkout at the smartphone and chipmaking giant. The Nationwide Samsung Electronics Union (NSEU) said on

By Jordan Valinsky, CNN New York (CNN) — Walgreens is joining other retailers in cutting prices across the board, from snacks to toiletries and even Squishmallows, in an effort to lure back inflation-weary shoppers turned off by high prices. Prices are dropping immediately on more than 1,500 items online and at its stores, which include

By Gregory Wallace, CNN Washington (CNN) — Boeing is expected to release a plan this week to fix its endless string of safety issues that have been under federal investigation following a midflight fuselage blowout in January. The report is a critical step for Boeing to rebuild confidence among the public, airlines, and its regulator

By Mark Thompson, CNN London (CNN) — Big Oil keeps doing big deals. ConocoPhillips said Wednesday it had agreed to buy Marathon Oil in an all-stock deal worth $22.5 billion, including about $5.4 billion of debt. Marathon Oil shareholders will receive 0.255 ConocoPhillips shares for each Marathon share they own, representing a 14.7% premium to

By Hanna Ziady, CNN London (CNN) — The owner of Royal Mail has accepted a £3.57 billion ($4.6 billion) takeover bid from Czech billionaire Daniel Křetínský, paving the way for the sale of one of Britain’s oldest and most iconic institutions to a foreign owner for the first time. International Distribution Services, which owns the

By Laura He, CNN Hong Kong (CNN) — A rebound in Apple’s iPhone sales in China is gaining momentum, after the company aggressively cut prices in its largest overseas market to lure back consumers actively hunting bargains in a weak economy. Shipments of foreign-branded cell phones in China, the vast majority of which are iPhones,

By Matt Egan, CNN New York (CNN) — Harvard University announced Tuesday it will no longer weigh in on public matters that don’t impact the Ivy League school’s core function, a shift that follows a historic period of turmoil at the storied university. Harvard leaders announced the new policy after forming a working group in April

By Jordan Valinsky, CNN New York (CNN) — OpenAI CEO Sam Altman and his husband have become the newest billionaires to sign the Giving Pledge, a charity that encourages the ultra-rich to donate their wealth to philanthropic causes. In their letter, released Tuesday, Altman and husband Oliver Mulherin credited “the hard work, brilliance, generosity, and