Money

By Anna Cooban, CNN London (CNN) — Shares in Tesla plunged 12% Thursday, wiping $80 billion off the company’s market value hours after it warned of slowing growth in electric car sales and an existential threat from Chinese rivals. Tesla’s stock suffered its worst day in 21 months and closed at its lowest level since

By Oliver Darcy, CNN New York (CNN) — Business Insider said Thursday that it will cut 8% of its staff, becoming the latest news organization to undergo a round of painful layoffs as news companies struggle to stay afloat amid brutal industry headwinds. In a memo to staff, Barbara Peng, chief executive of Business Insider,

By Matt Egan, CNN New York (CNN) — The growing battle between Ivy League institutions and frustrated alumni is now playing out at Cornell University. A prominent alumnus and longtime donor is calling for the immediate resignations of Cornell President Martha Pollack and Provost Michael Kotlikoff, arguing the university’s diversity policies have created a “toxic”

By Jeanne Sahadi, CNN New York (CNN) — Most parents expect to pay for their children until they become adults. But many say they are still financially subsidizing their now-adult children, sometimes well into their late 20s and early 30s, according to a new report from the Pew Research Center. Never mind that today’s young

By Bryan Mena, CNN Washington, DC (CNN) — The US economy remained shockingly robust in the fourth quarter to close out a remarkably strong 2023 as consumers and businesses continued to spend, crushing expectations of a recession. Gross domestic product, the broadest measure of economic output, rose at a seasonally and inflation-adjusted annualized rate of

By David Goldman, CNN New York (CNN) — Before the plane took its first flight, Boeing had removed and reinstalled the part that blew off of an Alaska Airlines flight on January 5, according to reports from the New York Times and the Seattle Times, both citing a person familiar with the matter. Although federal

By Jordan Valinsky, CNN New York (CNN) — A Super Bowl ad set to be shown during next month’s game will highlight the rise of antisemitism, with a 30-second spot from “Stand Up to Jewish Hate,” a campaign from the nonprofit organization founded by Robert Kraft, the billionaire businessman and owner of the New England

By Chris Isidore, CNN New York (CNN) — The grounding of the 737 Max 9 after a January 5 incident that blew a hole in the side of an Alaska Airlines plane earlier this month will cost the airline about $150 million, Alaska announced Thursday. The loss is significant to an airline the size of

CNN By Forrest Brown and Marnie Hunter, CNN (CNN) — The Alaska Airlines incident on January 5 that left a hole in the fuselage of a Boeing 737 Max 9 aircraft shortly after takeoff from Portland, Oregon, raised important safety questions, prompted investigations – and left some air travelers on edge. After the incident that

By Morayo Ogunbayo and Rhea Mogul, CNN (CNN) — Sri Lanka’s lawmakers passed a bill on Wednesday regulating internet use among its citizens, in a move that has sparked fears among rights groups of a free speech crackdown. The Online Safety Bill, which passed with 108-62 votes, aims to “make provisions to prohibit online communication

By Marshall Cohen, CNN (CNN) — The voting technology company Smartmatic can move forward with its defamation lawsuit against Fox Corporation, a New York judge ruled Wednesday, dealing a blow to the parent company of Fox News, which is already fighting the massive lawsuit over its repeated airing of 2020 election lies. The decision from Manhattan Supreme

By David Goldman, Gregory Wallace and Pete Muntean, CNN New York (CNN) — Boeing CEO David Calhoun’s Wednesday was decidedly a mixed bag: The Federal Aviation Administration finally approved a set of inspection criteria for the 171 grounded 737 Max 9 planes that, if followed, could return the aircraft to service. But he also learned

By Sean Lyngaas and Clare Duffy, CNN New York (CNN) — Tech firm Hewlett Packard Enterprise says its cloud-based email systems were breached by the same Russian hacking group that compromised some Microsoft email accounts earlier this month. Hewlett Packard Enterprise, also known as HPE, revealed the breach in a securities filing last week. The

By Chris Isidore, CNN New York (CNN) — Tesla became the most valuable automaker in the world promising unmatched sales growth. But in the face of growing EV sales by rival brands, Tesla Wednesday backed off its former bullish sales targets. Tesla has been cutting prices for more than a year to boost sales in

By Brian Fung, CNN (CNN) — Amazon’s Ring will no longer let police and other government agencies request doorbell camera footage from within the company’s Neighbors app, in what privacy advocates are hailing as a long-awaited victory for civil liberties. Authorities seeking Ring surveillance videos must now submit a formal legal request to the company,

By Parija Kavilanz, CNN New York (CNN) — McDonald’s new trendy beverage-led spinoff CosMc’s is pulling in younger customers at a faster clip than a typical Mickey D’s with Big Macs and fries, according to one early traffic estimate. McDonald’s unveiled its CosMc’s specialty drinks cafe spinoff in December, with the first location opened in

By Nicole Goodkind and Elisabeth Buchwald, CNN New York (CNN) — Microsoft became the second-ever company worth $3 trillion on Wednesday as the artificial intelligence boom sent shares of the company’s stock soaring higher. For comparison, Microsoft’s market value is now larger than the entire GDP of France and just behind that of the United