Money

By Clare Duffy, CNN New York (CNN) — X CEO Linda Yaccarino, leader of the platform formerly known as Twitter, said the company is keeping an eye on new competitor Threads, despite the sharply slowing growth of the rival app from Meta. “Threads did jump in with a ton of hype and a launch pad

By Nathaniel Meyersohn and Ellie Stevens, CNN New York (CNN) — The catastrophic wildfires in Maui have destroyed homes, churches, businesses and key cultural sites on Hawaii’s second-largest island. At least 36 people have died. The fires also threaten to derail Maui’s economy, just as it was rebounding from the pandemic. Maui’s economy depends heavily

CNN By Nathaniel Meyersohn and Ellie Stevens, CNN New York (CNN) — The catastrophic wildfires in Maui have destroyed homes, churches, businesses and key cultural sites on Hawaii’s second-largest island. At least 36 people have died. The fires also threaten to derail Maui’s economy, just as it was rebounding from the pandemic. Maui’s economy depends

By Matt Egan, CNN New York (CNN) — More Americans are failing to make payments on their credit cards and auto loans, another sign of rising financial pressure on consumers. New credit card and auto loan delinquencies have now surpassed pre-Covid levels, according to a Wednesday report issued by Moody’s Investors Service. The rate of

By Anna Bahney, CNN Washington, DC (CNN) — The latest Consumer Price Index shows that shelter costs contributed 90% of total inflation last month — but there’s a sharp turnaround ahead, say economic researchers at the Federal Reserve Bank of San Francisco. Housing makes up the largest chunk of CPI, and that measurement, known as

By Clare Duffy, CNN New York (CNN) — An author is raising alarms this week after she found new books being sold on Amazon under her name — only she didn’t write them; they appear to have been generated by artificial intelligence. Jane Friedman, who has authored multiple books and consulted about working in the

By Jordan Valinsky, CNN New York (CNN) — Michael Kors and Kate Spade are about to become siblings. Tapestry Inc., which owns Kate Spade and Coach, announced Thursday that it’s acquiring Capri Holdings, the parent company of Michael Kors and Versace. The $8.5 billion deal could help them better compete against their higher-end European rivals.

CNN, CNN BUSINESS By Donie O’Sullivan, CNN Las Vegas, Nevada (CNN) — Thousands of hackers will descend on Las Vegas this weekend for a competition taking aim at popular artificial intelligence chat apps, including ChatGPT. The competition comes amid growing concerns and scrutiny over increasingly powerful AI technology that has taken the world by storm,

By Anna Bahney, CNN Washington, DC (CNN) — Rents in Manhattan hit another all-time high in July, the third record high in the past four months, even as rents are cooling in other parts of the country. In New York City, rental activity typically builds from spring to a peak in late summer. This year,

By Ramishah Maruf, CNN New York (CNN) — Yang Huiyan, the chair of real-estate giant Country Garden and one of China’s richest women, has lost more wealth than any billionaire in the world in the past two years, Bloomberg reported Wednesday, as her building conglomerate sits on the edge of default. Her net worth has

By Danielle Wiener-Bronner, CNN New York (CNN) — Orange juice futures are hitting record highs because of bad weather and a nasty citrus disease. That could mean higher prices at the grocery store. In recent weeks, prices in the OJ futures market have topped $3 per pound. Around this time last year, prices were hovering

By Samantha Delouya, CNN (CNN) — The Walt Disney Company is hiking prices for its Disney+ streaming service again, as its third-quarter earnings report showed revenue struggles almost everywhere but international parks. The streaming service’s ad-free subscription will cost $13.99 beginning October 12, an increase of $3 per month. This is the second time in

By Samantha Murphy Kelly, CNN (CNN) — Thousands of people in Maui are without cell service as the wildfires continue to rage out of control on the island, preventing people from calling emergency services or updating loved ones about their status. It could take days or even weeks to get the networks back up and

By Nathaniel Meyersohn, CNN New York (CNN) — Barbie has already pulled in over a billion dollars. That still may not be enough to save AMC Theaters, which has a looming bill it may not be able to pay back. The world’s largest theater chain said Tuesday that sales increased 15% during the quarter ending

By Matt Egan, CNN Business New York (CNN Business) — Critics accuse President Joe Biden of waging a war on the oil industry that is hurting consumers at the gas pump. And yet, on his watch, US oil production is poised to shatter all-time records set during the Trump administration. US oil output is now

By Brian Fung, CNN Washington (CNN) — A judicial order forcing Apple to change some of its app store terms will not need to take immediate effect while litigation over the decision plays out, Supreme Court Justice Elena Kagan said on Wednesday, handing a temporary defeat to opponents of the company. The order is a

By Vanessa Yurkevich, CNN New York (CNN) — It’s the summer of girl power, fueled by Beyoncé, Taylor Swift and “Barbie.” Millions of people across generations are paying through the nose for these experiences, providing a women-powered boost to the economy. “I loved going with my family” to Taylor Swift and “Barbie,” said 15-year-old Chelsea