Money

By Brian Fung and Clare Duffy, CNN New York (CNN) — Another wealthy investor says he’s organizing a bid to purchase TikTok, after President Joe Biden signed a law last month forcing TikTok to find a new owner or be banned in the United States. Frank McCourt, a real estate billionaire and the former owner

By Brian Fung, CNN (CNN) — Federal legislation to govern artificial intelligence took another step closer to reality on Wednesday as Senate Majority Leader Chuck Schumer, along with a bipartisan trio of senators, announced a sprawling blueprint to shape how congressional committees tackle the technology in forthcoming bills. The 31-page roadmap released this week calls

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. The A.I. doomsday clock appears ready to strike midnight for publishers. Google on Tuesday announced that it will infuse its ubiquitous search engine

By Matt Egan, CNN New York (CNN) — Some progressives have frequently blamed corporate greed for fueling the high cost of living that Americans are fed up with. Yet new research from the Federal Reserve Bank of San Francisco casts doubt on the greedflation theory. Economists at the SF Fed found that corporate price gouging

By Kathleen Magramo, CNN (CNN) — YouTube has blocked access to a popular protest song in Hong Kong, a week after a court in the city granted a government request to ban the anthem. In a statement on Wednesday, YouTube said 32 web links playing “Glory to Hong Kong” have been geoblocked and are now

By Tami Luhby, CNN (CNN) — If you think the rent is too damn high, wait until you get the bill for child care. Parents with two kids in a child care center paid on average at least twice as much for that care as they did for the typical rent in 11 states and

By Samantha Delouya, CNN (CNN) — OpenAI’s chief scientist and cofounder, who played an instrumental role in CEO Sam Altman’s short-lived ouster from OpenAI in November, announced that he was leaving company on Tuesday. “After almost a decade, I have made the decision to leave OpenAI,” Ilya Sutskever said in a social media post. “I

By Evan Perez, CNN (CNN) — The US Justice Department on Tuesday notified Boeing that it breached terms of its 2021 agreement in which the company avoided criminal charges for two fatal 737 Max crashes. After a series of safety missteps earlier this year, including a door plug that blew off an Alaska Airlines flight shortly after

By Alicia Wallace, CNN (CNN) — Countries have long imposed tariffs as a means of protecting and shoring up domestic industries. However, history and research have shown that the economic effects often fail to live up to the hype. On Tuesday, the Biden administration announced the latest iteration of American import taxes: a wave of

By Parija Kavilanz, CNN New York (CNN) — Walmart said Tuesday it is eliminating several hundred corporate jobs and will relocate most of its remaining remote office staff to its Bentonville, Arkansas, headquarters. Walmart confirmed the move in a memo sent by Donna Morris, its chief people officer, to employees on Tuesday and obtained by

By Peter Valdes-Dapena, CNN (CNN) — The National Highway Traffic Safety Administration is investigating two autonomous driving companies following incidents in which the vehicles behaved erratically and sometimes disobeyed traffic safety rules or were involved in crashes. The investigations involve Waymo, the self-driving technology subsidiary of Google’s parent company Alphabet, as well as Zoox, the

By Gregory Wallace, CNN (CNN) — Despite a surge in hiring last year, air traffic control stations nationwide are still about 3,000 controllers short, according to new Federal Aviation Administration numbers. The numbers, first reported by CNN, show the challenge of filling the gap that led to flight delays and concerns that fatigue contributed to a

By Samantha Murphy Kelly, CNN (CNN) — A day after OpenAI impressed with a startlingly improved ChatGPT AI model, Google showed off an equally stunning vision for how AI will improve the products that billions of people use every day. The updates, announced at its annual Google I/O developer conference, come as the company is

By Elisabeth Buchwald, CNN New York (CNN) — After another reading of hotter-than-expected inflation, you’d think Federal Reserve Chair Jerome Powell might be getting a little worried that the battle will go on much longer than expected. But Powell, for the most part, isn’t stressing ahead of Wednesday’s crucial Consumer Price Index data set to

By Jordan Valinsky, CNN New York (CNN) — “Jeopardy!,” the 60-year-old game show, is entering its streaming era. Amazon’s Prime Video has ordered a spin-off of the classic, called “Pop Culture Jeopardy!,” which marks the first-time “Jeopardy!” has created a version exclusively for a major streaming service. It’s a “brand-new twist” on the show, Amazon

By Alicia Wallace, CNN (CNN) — The economy has been resilient, the job market healthy and consumers keep spending, but more Americans are becoming financially overextended — especially on their credit cards. New data released Tuesday by the Federal Reserve Bank of New York showed that as household debt balances grew during the first quarter,

By Clare Duffy, CNN New York (CNN) — Amazon’s biggest moneymaker, Amazon Web Services, is getting a new leader. Adam Selipsky, the chief executive of the cloud computing unit, will step down from his role next month, the company announced Tuesday. Selipsky, who first joined AWS in 2005 — before its services were even publicly