Money

By Chris Lau and Hassan Tayir, CNN Hong Kong (CNN) — During China’s go-go years, young couples holding enormous bouquets of roses were a familiar sight during the Qixi Festival, an ancient holiday celebrating love and loyalty. People would flock to social media to show off brand-new iPhones and Louis Vuitton handbags gifted by their partners,

By Ramishah Maruf, CNN New York (CNN) — Texas Attorney General Ken Paxton sued General Motors Tuesday, alleging the carmaker illegally collected and sold drivers’ data to insurance companies without their consent or knowledge, according to a release from the AG’s office. General Motors is the first car manufacturer to be hit with a lawsuit

By Liam Reilly, CNN New York (CNN) — Comcast and NBCUniversal are taking home their own Olympic gold. The 2024 Summer Olympics in Paris drew a combined average of 30.6 million viewers across NBCU’s constellation of platforms, marking an 82% jump in viewership compared to the Tokyo Games and making the Games the most-streamed Olympics of all time. The media giant on Monday shared that its coverage saw a whopping 23.5 billion minutes of

By Jordan Valinsky, CNN New York (CNN) — Big Lots is closing more than 300 locations across the United States, or roughly a quarter of its stores, following an earlier warning that its future was in “substantial doubt” amid ongoing financial troubles. The discount retailer previously said it planned to close as many as 40

By Chris Isidore, CNN New York (CNN) — Boeing posted a rare win over Airbus in July orders for new planes, but it still badly trails its rival in orders so far this year, as safety concerns continue to dent the company’s reputation. The embattled aircraft maker reported it took in gross orders for 72

By Angelica Chiara Yazbeck London (CNN) — A record-breaking series of auctions of King Charles III banknotes has raised £914,127 ($1.2 million) for 10 UK charities, according to the Bank of England. The banknotes, auctioned by Spink & Sons over the summer, sold for 11.7 times their face value of £78,430 ($100,318), as collectors snapped

By Alicia Wallace, CNN (CNN) — US wholesale inflation slowed as expected in July, easing after an unexpected flare-up the month before. That sets the stage for an even more crucial reading on price hikes due out Wednesday. The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, was 2.2%

By Jordan Valinsky, CNN New York (CNN) — The Starbucks CEO revolving door keeps spinning as the company struggles with sinking sales. Laxman Narasimhan is stepping down immediately after just a year in the role, the company announced Tuesday. The struggling coffee chain has tapped Chipotle CEO and corporate fix-it man Brian Niccol to be its new chairman

By David Goldman, CNN (CNN) — Elon Musk said an attack on X delayed his interview with former President Donald Trump by 42 minutes. But Musk also blamed mistakes by X’s staff for the snafu that prevented people from joining the stream. “Given the prominence of this conversation, there was of course a 100% probability

By Nathaniel Meyersohn, CNN New York (CNN) — Home Depot says consumers are feeling crummy about the economy, and they’re dishing out less on major home renovation projects. The home improvement giant, a bellwether of consumer spending and the housing market, lowered its sales expectations for the year. It said customers were spending less on

By Erika Tulfo, CNN (CNN) — Despite sweltering August temperatures, more stores are rolling out products in what was once the quintessential fall flavor: pumpkin spice. IHOP will launch its fall-themed lineup on September 1, including pumpkin spice pancakes, pumpkin spice cold foam cold brew and maple pumpkin cheesecake-flavored pancakes. And Krispy Kreme unveiled its

By Ramishah Maruf, CNN New York (CNN) — Israel’s credit rating was downgraded by Fitch Ratings Monday, after the agency cited concerns around the ongoing war with Hamas and geopolitical risks. Fitch kept a negative outlook on the country’s credit, meaning it could cut the rating again in the future, as it notched down the

By Liam Reilly, CNN New York (CNN) — The New York Times is getting out of New York endorsements. The newspaper’s editorial board on Monday announced that it will no longer endorse political candidates in New York state and local races. “While elections everywhere remain critical to the lives and experiences of our audience, the

By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s social media business is making a big bet on streaming as the rest of the company brings in shockingly little money. Even though Trump Media & Technology Group (DJT) is valued at $5 billion, the Truth Social owner revealed Friday evening it made

By Samantha Delouya, CNN (CNN) — Realtors across the US are bracing for a seismic shift in the way they do business. Starting August 17, new rules will roll out that overhaul the way Realtors get paid to help people buy and sell their homes. The changes, which are part of a $418 million settlement

By Robert Ilich, CNN (CNN) — McDonald’s France had a not-so-thinly veiled response to the men’s basketball final at the Paris Olympics. After Steph Curry drained eight three-pointers Saturday to help lead the United States to gold in a 98-87 win over France, the Instagram account for McDonald’s France posted a message Sunday directed at