By Jordan Valinsky, CNN Nordstrom is closing both of its stores in downtown San Francisco, citing the changing “dynamics” of the area that hasn’t recovered since the pandemic and has been in the spotlight for crime. The two locations are a 312,000-square-foot, five-floor Nordstrom department store at the Westfield mall and a Rack, its discount
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CNN By David Goldman, CNN First Horizon and TD Bank have called off a $13 billion deal that would have formed America’s sixth-largest bank, adding to the turmoil sweeping the country’s regional lenders. Caught up in the worst banking crisis since 2008, First Horizon’s share price has plunged about 40% over the past couple months,
Continue ReadingFrom CNN’s Krystal Hur, Bryan Mena, Alicia Wallace, Jeanne Sahadi, Matt Egan and Allison Morrow The-CNN-Wire™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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By Kristen Holmes and Jon Passantino, CNN In a newly revealed text message, ousted Fox News host Tucker Carlson made a racist comment and said he found himself briefly rooting for a mob of Trump supporters to kill a person. “A couple of weeks ago, I was watching video of people fighting on the street
Continue Reading CNN By Kristen Holmes and Jon Passantino, CNN In a newly revealed text message, ousted Fox News host Tucker Carlson made a racist comment and said he found himself briefly rooting for a mob of Trump supporters to kill a person. “A couple of weeks ago, I was watching video of people fighting on the
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By Bryan Mena, CNN The Federal Reserve voted unanimously to raise interest rates by a quarter point Wednesday, the tenth rate hike since the central bank started its battle against inflation last March. The move comes amid ongoing fragility in the banking sector triggered partly by higher interest rates, and following the collapse of three
Continue Reading CNN By Bryan Mena, CNN The Federal Reserve voted unanimously to raise interest rates by a quarter point Wednesday, the tenth rate hike since the central bank started its battle against inflation last March. The move comes amid ongoing fragility in the banking sector triggered partly by higher interest rates, and following the collapse of
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CNN By Jennifer Korn Geoffrey Hinton, also known as the “Godfather of AI,” decided he had to “blow the whistle” on the technology he helped develop after worrying about how smart it was becoming, he told CNN on Tuesday. “I’m just a scientist who suddenly realized that these things are getting smarter than us,” Hinton
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By Danielle Wiener-Bronner, CNN The pandemic helped revive an old-fashioned meal category: the frozen dinner. Now Kraft is betting big that it can convince customers to keep picking this option. On Wednesday, Kraft Heinz officially introduced Homebake 425°/:30, the company’s new line of frozen meals. The line has 15 items: five mains, five starchy sides,
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By Laura He, CNN Tesla has raised prices in its most important electric vehicle markets, including China and the United States, reversing a series of recent price cuts that have pushed the company’s profit margin to the lowest since 2020 and sparked a price war. The US car manufacturer has increased the prices of its
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By Vedika Sud, Rhea Mogul and Sania Farooqui CNN The women wake just after dawn at the makeshift protest site, their belongings stacked under mosquito nets as a row of mattresses line the pavement in New Delhi. By 8 a.m., they begin training — some run up and down the road, while others perform drills
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By Danielle Wiener-Bronner, CNN During his first earnings call as the new Starbucks CEO, Laxman Narasimhan praised the company for its financial performance. He outlined how he thinks stores can better meet demand. He didn’t mention the unionizaton drive sweeping through stores, however. “Our performance is strong, but our health could be stronger,” he said
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By Clare Duffy, CNN TikTok is about to lose a key safety executive as the app faces growing pressure from lawmakers and threats of a ban in the United States. TikTok’s Head of US Data Security Trust and Safety Eric Han is set to leave the company next week. His departure was confirmed to CNN
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By Chris Isidore, CNN Ford is once again cutting the price of its electric SUV, the Mustang Mach-E, as it ramps up its price war with Tesla. Tesla, the leader in EV sales by a large margin, has cut prices six times so far this year. Its price cuts have eaten into its industry-leading profit
Continue Reading By Jennifer Korn Geoffrey Hinton, also known as the “Godfather of AI,” decided he had to “blow the whistle” on the technology he helped develop after worrying about how smart it was becoming, he told CNN on Tuesday. “I’m just a scientist who suddenly realized that these things are getting smarter than us,” Hinton told
Continue Reading CNN By Jennifer Korn Geoffrey Hinton, also known as the “Godfather of AI,” decided he had to “blow the whistle” on the technology he helped develop after worrying about how smart it was becoming, he told CNN on Tuesday. “I’m just a scientist who suddenly realized that these things are getting smarter than us,” Hinton
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By Brian Fung, CNN Twitter said Tuesday it will permit public institutions such as transit agencies and the National Weather Service to post large volumes of automated tweets for free, provided that the accounts doing so are “verified gov or publicly owned services.” The announcement marks another sudden pivot in Twitter’s attempts to charge institutional
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By Matt Egan, CNN JPMorgan Chase has once again come to the rescue of the banking system by acquiring a doomed bank. And that makes Democratic Sen. Elizabeth Warren very worried. By blessing JPMorgan’s takeover of First Republic Bank, Warren fears federal regulators just made the” Too Big to Fail” problem even worse. “What happened
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CNN By Sam Fossum Ahead of a highly anticipated meeting between President Joe Biden and Congressional leaders on Tuesday, senior Treasury officials reiterated dire warnings of economic “chaos” and “catastrophe” if the US doesn’t raise the debt ceiling as the country barrels toward default in early June. “I know he wants to set up a
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By Elisabeth Buchwald, CNN For the second time this year, the Federal Reserve is gearing up to raise interest rates right after a bank failure. In this instance, the Fed’s decision this Wednesday will come just two days following the collapse of First Republic Bank, the second-biggest bank failure in US history. Like Silicon Valley
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