Money

By Ramishah Maruf, CNN (CNN) — Chinese home appliance manufacturer Gree is recalling 1.56 million humidifiers for fire and burn hazards, including reports of 23 units catching on fire, the US Consumer Product Safety Commission announced Wednesday. Along with the fires, consumers reported 688 overheating incidents and $168,000 in property damage, according to the CPSC.

By Clare Duffy and Brian Fung, CNN New York (CNN) — At least two brands have said they will suspend advertising on X, the platform formerly known as Twitter, after their ads and those of other companies were run on an account promoting fascism. The issue came less than a week after X CEO Linda

By Allison Morrow, CNN New York (CNN) — Last year, as interest rates rose and inflation stayed stubbornly high, total household wealth declined for the first time since the 2008 financial crisis. That might sound like bad news, but the numbers tell a more optimistic story. Here’s the deal: The grand total of all the

By Bryan Mena, CNN Washington, DC (CNN) — Federal Reserve officials were wary that inflation would slow further unless the US economy and labor markets also cool down, according to minutes from their July policy meeting released on Wednesday. That means a rate hike in September remains in the cards, given the robust economic activity

By Jordan Valinsky, CNN New York (CNN) — “Barbie,” which has broken numerous box office records since its July 21 opening, just broke another. The Greta Gerwig-directed film about the iconic doll, is now Warner Bros.’ highest-grossing domestic release, beating the former title holder, the 2008 film “The Dark Knight.” As of Tuesday, “Barbie” has

By Ramishah Maruf, CNN New York (CNN) — Grocery shoppers in the Southeast can expect to see more Aldi stores starting 2024. The German supermarket giant is acquiring Winn-Dixie and other grocery stores in the Southeast in a move to increase its presence in the region, the company announced Wednesday. Some of the nearly 400

By Samantha Murphy Kelly, CNN Business (CNN) — Snapchat users were alarmed on Tuesday night when the platform’s artificial intelligence chatbot posted a live update to its profile and stopped responding to messages. The Snapchat My AI feature — which is powered by the viral AI chatbot tool ChatGPT — typically offers recommendations, answers questions

By Allison Morrow, CNN New York (CNN) — Coinbase has won a crucial regulatory approval that will allow the platform to provide US-based investors access to the crypto derivatives market. The company’s stock jumped 3% Wednesday morning on the news. The approval comes from the National Futures Association, a self-regulatory body designated by the Commodity

By Anna Bahney, CNN Washington, DC (CNN) — US home building increased in July, rising 3.9% from June, as low inventory in the existing home market continued to boost interest in new homes. Housing starts, a measure of new-home construction, climbed to a seasonally adjusted annual rate of 1.452 million in the month, beating market

By Jordan Valinsky, CNN New York (CNN) — New Jersey ordered more than two dozen Boston Market locations to close Tuesday because regulators found “multiple violations of workers’ rights,” including failure to pay wages, and fined the restaurant chain nearly $2.6 million. In a release, the New Jersey Department of Labor and Workforce Development said

By Hafsa Khalil, CNN (CNN) — A technical fault meant that for several hours Tuesday customers of one of Ireland’s biggest banks could withdraw funds they did not have. The now-resolved glitch to the Bank of Ireland’s app and website meant people were able to transfer up to €1,000 ($1,090.20) to a digital account and

By Parija Kavilanz, CNN New York (CNN) — US consumers, trapped in a web of conflicting signals on the health of the economy and how it impacts their ability to shop, might be forced to spend less enthusiastically on a key bucket of discretionary spending – Christmas gifts, according to early forecasts of this year’s

By Samantha Murphy Kelly, CNN (CNN) — When 16-year-old Shreya Nallamothu from Normal, Illinois, scrolled through social media platforms to pass time during the pandemic, she became increasingly frustrated with the number of children she saw featured in family vlogs. She recalled the many home videos her parents filmed of herself and her sister over

By Anna Bahney, CNN Washington, DC (CNN) — With home values remaining strong across the country, Americans are tapping into their home equity to pay for renovations and debts. Average mortgage rates are close to 7% and with low inventory in most housing markets across the country, home prices have held firm after surging during

By Nathaniel Meyersohn, CNN New York (CNN) — Target’s quarterly sales fell for the first time in six years as consumers pulled back on discretionary goods and fierce right-wing backlash to Target’s Pride Month collection took a toll on the brand. Target’s sales at stores open for at least one year dropped 5.4% last quarter,

By Matt Egan, CNN New York (CNN) — Rural Mingo County, West Virginia, is one of America’s poorest counties. Nearly one-third of its residents live below the poverty line, only a third of its population is employed and countless lives have been upended by opioid addiction. But this community in the heart of Appalachia scored

By Hanna Ziady, CNN London (CNN) — UK inflation eased to a 17-month low in July, official data showed Wednesday, though it also revealed that prices of services, such as haircuts, hotels and restaurants, increased at a faster pace than the previous month. Consumer prices rose 6.8% in July compared with a year ago, the

By Nicole Goodkind, CNN New York (CNN) — Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash. Burry is making his bearish bets against the S&P 500 and Nasdaq 100, according to

By Michelle Toh, CNN Hong Kong (CNN) — One of Vietnam’s biggest automakers has made a big splash on its entry to Wall Street, pushing its market capitalization above that of industry giants such as Volkswagen and Ford. VinFast, an electric vehicle maker, enjoyed a red-hot debut in New York on Tuesday after merging with

By Oliver Darcy, Jon Passantino and Liam Reilly, CNN (CNN) — Thousands of heat records broken. Oceans at hot tub levels. Mass coral bleaching. Extraordinary wildfires. Earth’s hottest month on record. It has been a summer of unprecedented heat across the globe, the alarming effect of a rapidly warming world kindled by fossil fuels. But