Money

By Elisabeth Buchwald, CNN New York (CNN) — On Wall Street, interest rate cuts have recently become less a question of if, but rather, when. The shift came last week after all but two of 19 Federal Reserve officials predicted the central bank would cut interest rates at least once in the coming year, according

By Jeanne Sahadi, CNN New York (CNN) — The Internal Revenue Service on Tuesday announced it will resume mailing automated reminders of past due taxes to those who owe back taxes, something it had suspended doing in February 2022 due to pandemic-era backlogs. But it also said it will offer failure-to-pay penalty relief to 4.7

By Matt Egan, CNN New York (CNN) — As the world grapples with the existential crisis of climate change, environmental activists want President Joe Biden to phase out the oil industry, and Republicans argue he’s already doing that. Meanwhile, the surprising reality is the United States is pumping oil at a blistering pace and is

By Matt Egan and Chris Isidore, CNN New York (CNN) — Bipartisan opposition is growing to the proposed $14.1 billion acquisition of US Steel by Japan’s largest steelmaker, but that is unlikely to be enough to block the purchase, according to an expert in foreign investment deals. A trio of Republican senators Tuesday called for

By Brian Fung, CNN Washington (CNN) — Businesses could face steep penalties for using deepfakes or other artificial intelligence tools to illegally manipulate markets or to engage in securities fraud, under new legislation proposed Tuesday by a bipartisan pair of senators. The bill by Virginia Democratic Sen. Mark Warner and Louisiana Republican Sen. John Kennedy represents a

By Lauren Mascarenhas, CNN (CNN) — When the next Powerball numbers are drawn Wednesday evening, a lucky lottery player somewhere in the country could head into the holidays with a $572 million jackpot. When no tickets matched the numbers for the $543 million prize in Monday night’s drawing, the jackpot continued to swell, according to the multistate

By Tori Morales, CNN (CNN) — Next to those stockings hung by the chimney with care, it appears more likely than ever that the trimmed tree will be, well, faux. The holiday tradition of setting up a Christmas tree has endured centuries. But this year, 77% of Americans displaying a Christmas tree say they’ll opt for

By Oliver Darcy, CNN New York (CNN) — It’s been a hell of a year. 2023 is quickly drawing to a close, and we have but one more issue of the newsletter until heading off into the new year. But before we fully put 2023 in the rearview mirror, we wanted to take the opportunity

By Anna Bahney, CNN Washington, DC (CNN) — The annual pace of new home construction surged last month amid a historic shortage of housing inventory and falling mortgage rates. Housing starts jumped by 14.8% in November compared to the previous month, rising for the third month in a row, according to data released Tuesday by the Census Bureau.

By Samantha Murphy Kelly, CNN New York (CNN) — It will soon become a lot harder to find the latest Apple Watch models in the United States. Apple said Monday it will stop selling some versions of its bestselling smartwatch starting later this week to get ahead of what could be one of the most

By Samantha Delouya, CNN (CNN) — US Steel was once the pride and joy of the United States and the most valuable company in the entire world. The 122-year-old company has agreed to be bought by Japanese firm Nippon Steel in a $14.1 billion dea. But this isn’t the first instance of an international company

By Clare Duffy, CNN New York (CNN) — Facebook-parent Meta’s automated tools to police potentially harmful content unnecessarily removed two videos related to the Israel-Hamas war, the Meta Oversight Board said in a statement Tuesday. The moderation technology may have prevented users from viewing content related to human suffering on both sides of the conflict,

By Elisabeth Buchwald and David Goldman, CNN New York (CNN) — For the past couple years, all the smart money was on a US recession taking place sometime before the next presidential election. To be clear: That absolutely could still happen. In the world of economics, nothing is certain. But it’s looking extremely unlikely that

By Brian Fung, CNN Washington, D.C. (CNN) — When you fire up an artificial intelligence chatbot like Google’s Bard or OpenAI’s ChatGPT, you’re really interacting with the product of three or four key ingredients. One is the engineering talent it took to design the chatbot’s AI model. Another is the vast amount of training data

By Melissa Alonso, Diksha Madhok and Brian Fung, CNN (CNN) — Google has agreed to pay $700 million and allow more competition in its Play app store, according to the terms of an antitrust settlement with US states and consumers filed in federal court on Monday. Roughly 102 million US consumers will be eligible to receive

By Juliana Liu, CNN Hong Kong (CNN) — Chinese electric vehicle (EV) maker Nio has secured $2.2 billion in investment from CYVN Holdings of Abu Dhabi, giving the Tesla challenger a longer financial runway as it seeks to make inroads in an increasingly competitive market. The deal, which follows a previous $1 billion investment from

By Jennifer Korn, CNN (CNN) — Autonomous vehicle startup May Mobility announced its first fully driverless ride service Monday, offering human-free transit to those living in an Arizona retirement community. Retirees in Sun City, Arizona, are the first to test the Toyota-backed company’s autonomous cars without a human safety operator in the driver’s seat, the