Money

By Hanna Ziady, CNN The European Central Bank raised interest rates by a quarter of a percentage point Thursday, the smallest increase since it started hiking in July, after data this week showed core inflation cooling and banks pulling back sharply on lending. The decision comes a day after the US Federal Reserve also increased

By Hanna Ziady, CNN Volkswagen says it won’t cut prices to hold onto market share in China, where sales of its electric vehicles plunged in the first quarter amid intensifying competition. Europe’s largest carmaker said Thursday that it delivered 141,000 electric vehicles in the first quarter — a 42% increase on the same period last

By Julia Horowitz, CNN JPMorgan Chase’s rescue of First Republic Bank in the United States this week didn’t herald the end of the banking crisis. Investors have shifted their attention to other regional lenders, dumping shares of California’s PacWest, which is now exploring “all strategic options.” The bank’s stock is down 36% in pre-market trading

By Parija Kavilanz, CNN The maker of iconic board games like Scrabble and The Game of Life is retooling these classic games so that aging doesn’t get in the way of older adults continuing to enjoy them. Hasbro, in partnership with Ageless Innovation (a licensee of Hasbro brands), on Thursday unveiled new versions of Scrabble,

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, falling

By Casey Tolan and Isabelle Chapman, CNN. Photographs by Austin Steele, CNN Mimi Perkins’ job on the graveyard shift at a Tyson Foods poultry plant started like any other night: hosing down the blood, guts, and stray feathers left behind by hundreds of thousands of dead chickens. Then, she heard a single loud pop. A

By Matt Egan, CNN Nearly half of American adults say they are concerned about the safety of the money they keep in banks, according to a Gallup poll released on Thursday. Gallup said 48% of US adults say they are concerned about the money they have in banks and other financial institutions, including 19% who

By Michelle Toh, CNN The United States said Wednesday it would allow Chinese airlines to boost their services to America, handing the carriers a limited win as geopolitical tension continues to bedevil the bilateral relationship. The US Department of Transportation confirmed to CNN that it had issued an order permitting Chinese airlines to increase their

CNN 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

By Laura He, CNN Holiday spending during China’s Golden Week has surged past pre-pandemic levels for the first time in three years, in a sign the country’s travelers have fully emerged from the depths of Covid-related restrictions and are eager to live large to make up for lost time. For many, this May Day period,

CNN By Alicia Wallace, CNN High prices, rising interest rates and banking uncertainty be damned: The US labor market is still chugging right along. Employers added 253,000 jobs in April, the Bureau of Labor Statistics reported Friday. That’s a good chunk more than economists were expecting, making this jobs report the 12th out of the

By Tierney Sneed and Oliver Darcy, CNN A New York judge dismissed a 2021 lawsuit that former President Donald Trump brought against the New York Times and its journalists over the disclosure of his tax information in a 2018 Times article. With the order granting the Times’ motion to dismiss the Trump case against it

CNN, POOL, THE WHITE HOUSE, SENATE TV By Matt Egan, CNN White House economists warned on Wednesday that a protracted debt default would cause the loss of more than 8 million jobs and cut the stock market in half. The new projections, published in a blog post by the White House Council of Economic Advisers,