Money

By Peter Valdes-Dapena, CNN (CNN) — The new all-electric Cadillac Escalade IQ shares virtually nothing with the boxy gas-powered Escalade, but it’s possibly the most important flag-bearer yet for the automaker’s transition to electric vehicles. General Motors unveiled the new EV version of the automaker’s most famous luxury model on Wednesday. It’s part of GM’s

By Cheri Mossburg, CNN Los Angeles (CNN) — Striking hotel workers in Southern California filed a complaint on Monday with the National Labor Relations Board alleging that the hotels were “committing and/or condoning violence” after a fight on the picket line, their union announced. Video shared by Unite Here 11 – a union representing dishwashers,

By Nathaniel Meyersohn, CNN New York (CNN) — New Jersey is now the only state in America where it’s illegal for drivers to pump their own gas. Oregon last week lifted its 72-year-old ban on self-service gas stations, allowing stations to operate half of their pumps as self-serve. Oregon’s law, which was signed Friday by

By Anna Cooban, CNN London (CNN) — Banking stocks in Italy and elsewhere in Europe rebounded Wednesday after the country watered down a plan to whack its banks with a surprise one-off 40% tax on their windfall profits. The finance ministry said late Tuesday that the levy would be capped at no more than 0.1%

By Michelle Toh, CNN Hong Kong (CNN) — Dentons, the world’s biggest law firm by number of employees, is distancing itself from its business in China in response to intensifying regulation in the country. The firm notified clients of the move this week in an internal memo shared with CNN Tuesday. Dentons said that starting

By Laura He, CNN Hong Kong (CNN) — Investor confidence in China’s troubled property sector has been rocked again this week by reports that one of the country’s largest private building conglomerates missed interest payments on two bonds. China’s vast real estate industry was long an important engine of growth in the world’s second biggest

By Laura He, CNN Hong Kong (CNN) — The Chinese economy has slipped into deflation, with consumer prices falling for the first time in more than two years in another sign of weakening demand. The consumer price index (CPI) fell by 0.3% in July from a year ago, according to China’s National Bureau of Statistics

By Marshall Cohen, CNN (CNN) — The voting technology company Smartmatic blasted Rudy Giuliani in court filings Monday night, accusing him of fabricating “excuse after excuse” to avoid turning over documents in its massive defamation suit against him, Fox News and others who spread lies about the 2020 election. Smartmatic claimed Giuliani “half-heartedly” performed manual

CNN By Samantha Delouya, CNN (CNN) — The future of WeWork is uncertain, according to the company. “Substantial doubt exists” about WeWork’s ability to continue to stay in business, due to the company’s losses, projected cash needs, and increased member turnover, according to the company’s second quarter earnings release. WeWork management outlined a plan to

By Ramishah Maruf, CNN New York (CNN) — Casino owner PENN Entertainment has dropped Barstool, the sports website, agreeing to a $2 billion dollar deal with ESPN to create ESPN Bet. The online Barstool Sportsbook will be rebranded as ESPN Bet in the fall, PENN said in a statement Tuesday. It secured exclusive rights to

By Samantha Murphy Kelly, CNN (CNN) — Get your thumb ready for next month. Apple (AAPL) is making a subtle change to the iPhone’s software that will likely mess with your muscle memory: The big red “end call” button is moving. The iPhone’s phone app will get a series of updates coming to iOS 17,

By Anna Bahney, CNN Washington, DC (CNN) — Available credit for mortgages tightened in July, falling to its lowest level in a decade for potential home buyers, according to a report from the Mortgage Bankers Association released Tuesday that analyzes data from ICE Mortgage Technology. MBA’s monthly index fell by 0.3% to 96.3 in July,

By Ramishah Maruf, CNN New York (CNN) — Taco Bell is opening a $5 million taco tab and offering free Doritos Locos Tacos in honor of the “liberation” of the “Taco Tuesday” trademark to customers across the country. Well, almost everywhere. The giveaway is valid in 49 states but not in New Jersey, the only

By Jordan Valinsky, CNN New York (CNN) — Thousands of flights have been delayed or canceled Tuesday following a round of severe storms that hammered the eastern United Sates. More than 350 flights were canceled Tuesday, with another 2,200 delayed, according to data from FlightAware. It’s a significant improvement from Monday when 8,200 flights were

By Alicia Wallace, CNN Minneapolis (CNN) — Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York. During the second quarter, credit card balances shot up by $45 billion, or

By Ellie Stevens, CNN (CNN) — The city of Los Angeles is on strike. A growing number of unions seeking improved conditions for their employees are halting movie productions in the city, holding up hotel business, potentially disrupting supply chains, and slowing down the airport. Today, 11,000 Los Angeles city workers are joining Hollywood actors,

CNN By Alicia Wallace, CNN Minneapolis (CNN) — More Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday. The number of people who made a hardship withdrawal during the second quarter surged from the first three months of the year to 15,950, an increase of 36%

By Alicia Wallace, CNN Minneapolis (CNN) — More Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday. The number of people who made a hardship withdrawal during the second quarter surged from the first three months of the year to 15,950, an increase of 36% from