Money

By Laura He, CNN Hong Kong (CNN) — Ant Group has announced a share buyback that values it at $78.5 billion, which is about $230 billion or 75% less than the valuation it fetched nearly three years ago, before its IPO was yanked by Chinese regulators. The company was co-founded by Jack Ma, as was

CNN By Frederik Pleitgen and Anna Cooban, CNN Berlin/London (CNN) — Rheinmetall will open an armored vehicle plant in Ukraine within the next 12 weeks, shrugging off concerns other Western defense companies reportedly have about building a presence in the country while it is at war with Russia. Germany’s biggest arms maker will also train

By Frederik Pleitgen and Anna Cooban, CNN Berlin/London (CNN) — Rheinmetall will open an armored vehicle plant in Ukraine within the next 12 weeks, shrugging off concerns other Western defense companies reportedly have about building a presence in the country while it is at war with Russia. Germany’s biggest arms maker will also train Ukrainians

By Samantha Delouya, CNN (CNN) — When MosaicML, a generative AI platform company, decided to upgrade its office space, its CEO and co-founder, Naveen Rao, was set on San Francisco, even though he lives in Southern California. “Everyone is talking about doom and gloom, this and that, but it’s still literally the best place in

By Hanna Ziady, CNN London (CNN) — Investors in Thames Water have agreed to put an extra £750 million ($962 million) of equity funding into the troubled utility to hold off a temporary takeover by the government. The amount is less than the company was hoping to raise. Britain’s biggest water company said Monday that

By Tara Subramaniam and Manveena Suri, CNN (CNN) — Heavy rains brought deadly floods to northern India on the weekend as the country’s capital marked its wettest July day in more than 40 years, according to authorities and local reports. The rains triggered flash floods and landslides, resulting in the deaths of at least 22

By Jessie Yeung, Yoonjung Seo and Paula Hancocks, CNN Seoul (CNN) — In many supermarkets across South Korea, one item has conspicuously vanished from shelves: salt. For the past month, the country has struggled with severe sea salt shortages as shoppers snap it up in bulk, reflecting heightened public anxiety ahead of the planned release

CNN By Jessie Yeung, Yoonjung Seo and Paula Hancocks, CNN Seoul (CNN) — In many supermarkets across South Korea, one item has conspicuously vanished from shelves: salt. For the past month, the country has struggled with severe sea salt shortages as shoppers snap it up in bulk, reflecting heightened public anxiety ahead of the planned

By Jennifer Korn (CNN) — When Elon Musk took over Twitter in October and began upending the platform, there weren’t many viable alternatives for frustrated users. Now, there may be too many. A growing number of services have launched or gained traction in recent months by appealing to users who are uncomfortable with Musk’s decisions

By Samantha Murphy Kelly, CNN (CNN) — When Mark Zuckerberg shared a photo on Instagram of his family on July 4, two things stuck out: the billionaire CEO wore a striped souvenir cowboy hat, and the faces of his children were replaced with happy face emojis. Zuckerberg’s post was promptly criticized by some who saw

By Jennifer Hansler, Nectar Gan and Juliana Liu, CNN Beijing/Hong Kong (CNN) — The world is big enough for both the United States and China to thrive, US Treasury Secretary Janet Yellen said Sunday as she wrapped up a visit to Beijing aimed at stabilizing the relationship between the world’s two largest economies. Yellen said

By Nathaniel Meyersohn, CNN New York (CNN) — The US Postal Service will increase prices on first-class mail stamps to 66 cents from 63 cents. The change goes into effect Sunday, raising the cost of mailing a first-class letter by about 5.4%. The Postal Service said the hike was necessary to offset a rise in

By Ramishah Maruf, CNN New York (CNN) — Mercedes-Benz announced its electric vehicle drivers will be able to use Tesla (TSLA) superchargers starting next year and that it will fully adopt the company’s charging standard in 2025. It joins a growing list of automakers who have made similar deals with Tesla. The Mercedes-Benz arrangement moves

By Danielle Wiener-Bronner, CNN New York (CNN) — Aspiring home owners are finding the housing market to be pretty grim lately. With record-high mortgage rates, expensive insurance, and a limited selection of pricey homes, many are staying put — whether they want to or not. But the bleak outlook could be a boon for Ikea,

CNN By Nathaniel Meyersohn, CNN New York (CNN) — More major cities in the United States are letting public transit riders hop on board for free. Kansas City; Raleigh; Richmond; Olympia; Tucson; Alexandria, Virginia; and other cities are testing dropping fares on their transit systems. Denver is dropping fares across its system this summer. Boston