Money

By Jordan Valinsky, CNN New York (CNN) — Friday’s warning from the US surgeon general that alcohol is a “well-established, preventable cause of cancer” is perhaps a wakeup call for millions of Americans, but it’s the worst-case scenario that many beer and spirits companies have been preparing for over the years. Major brewers, including Molson

By Chris Isidore, Arlette Saenz and Kayla Tausche, CNN New York (CNN) — President Joe Biden said Friday he is blocking a $14.3 billion acquisition of US Steel by Japan’s Nippon Steel, marking a significant use of executive authority in the closing days of his administration. “As I have said many times, steel production –

By Chris Isidore, CNN New York (CNN) — Honda and Nissan are the latest automakers to discuss combining forces. They won’t be the last. The two Japanese automakers announced last week that they plan to merge and create the world’s third largest automaker. Details aren’t yet finalized, but they expect to announce the combination within

By Juliana Liu, CNN Hong Kong (CNN) — Beijing is planning to curb the export of technology used to extract minerals critical for the growth of the global electric vehicle (EV) industry, as a tech rivalry with Washington escalates ahead of the inauguration of US President-elect Donald Trump later this month. China also wants to

By Clare Duffy, CNN New York (CNN) — Meta’s top policy executive, Nick Clegg, is stepping down from the post just as President-elect Donald Trump is set to take office. His replacement: one of the company’s most prominent Republicans. Clegg, the former UK deputy prime minister, joined the company in 2018 and was elevated to

By Clare Duffy, CNN New York (CNN) — This week’s deadly incidents in New Orleans and Las Vegas have thrust Turo, a car rental platform, into the spotlight, after the cars used in both attacks were rented through its marketplace. Turo calls itself a “peer-to-peer car sharing service,” meaning users can rent cars through the

By Jordan Valinsky, CNN New York (CNN) — Rolex watches, which aren’t known for their affordability, are getting even more expensive this year with the soaring price of gold to blame. Prices on some of the Swiss company’s gold watches jumped as much as 14% for 2025, according to several enthusiast websites that tracks listings.

By Elisabeth Buchwald, CNN New York (CNN) — Mortgage rates are climbing again, in yet another unwelcome sign to homebuyers. The standard, 30-year fixed-rate mortgage averaged just shy of 7% in the final week of 2024 ending on January 2, according to data from mortgage financing giant Freddie Mac. That’s the highest level in nearly

By Brian Stelter, CNN New York (CNN) — An erroneous early Fox News report about the New Orleans terror attack is warping the political dialogue in the aftermath of the deadly rampage. The false report from Fox, which was attributed to anonymous sources, confused the public – and evidently President-elect Donald Trump too. The misinformation

By Chris Isidore, CNN New York (CNN) — Tesla reported the first full-year drop in sales in its history as a public company Thursday, as increased competition and slowing demand for electric vehicles hit its results. The company reported fourth-quarter sales of 495,570 vehicles, up 2% from what it sold a year earlier. But that

By Alicia Wallace, CNN (CNN) — The corks have been popped, the calendar pages turned and a day that promised fresh starts also brought with it some pay bumps for millions of Americans. Hourly minimum wages increased in 21 states on Wednesday, as part of ongoing efforts to have pay keep up with the rising

By Juliana Liu, CNN Hong Kong (CNN) — An economic downturn is supposed to drive spending on small luxuries like going out to the movies. But the world’s second-largest economy, currently mired in a slump, is challenging that long-held theory. Last year, China’s box office receipts plummeted by 23%, compared to 2023, to just 42.5

By Tami Luhby, CNN (CNN) — The nation’s debt ceiling was reinstated Thursday, giving congressional Republicans yet another divisive challenge to contend with in 2025. President-elect Donald Trump is demanding that GOP lawmakers address the limit before he takes office on January 20, but lawmakers have some time since the US is likely months away

By Kosta Gak, Alex Stambaugh and Anna Cooban, CNN Kyiv/London (CNN) — Ukraine has made good on its promise to halt the transport of Russian gas to Europe through its territory after a key deal with Moscow expired on Wednesday. Ukraine’s refusal to renew the transit deal was an expected but symbolic move after nearly

By John Towfighi, CNN New York (CNN) — Stocks had a blockbuster 2023 and 2024. Will 2025 be a three-peat? After two years of substantial gains, Wall Street expects the good times for markets to keep going this year — just not on the massive scale investors have been spoiled with lately. Wall Street forecasts

By Anna Cooban, CNN London (CNN) — A US government fund created to compensate thousands of people scammed by the late Bernie Madoff in history’s biggest Ponzi scheme is making its final batch of payments — and it has now made up nearly all of their losses. The Madoff Victim Fund has started distributing more