Money

By Jordan Valinsky, CNN New York (CNN) — Michael Kors and Kate Spade are about to become siblings. Tapestry Inc., which owns Kate Spade and Coach, announced Thursday that it’s acquiring Capri Holdings, the parent company of Michael Kors and Versace. The $8.5 billion deal could help them better compete against their higher-end European rivals.

CNN, CNN BUSINESS By Donie O’Sullivan, CNN Las Vegas, Nevada (CNN) — Thousands of hackers will descend on Las Vegas this weekend for a competition taking aim at popular artificial intelligence chat apps, including ChatGPT. The competition comes amid growing concerns and scrutiny over increasingly powerful AI technology that has taken the world by storm,

By Anna Bahney, CNN Washington, DC (CNN) — Rents in Manhattan hit another all-time high in July, the third record high in the past four months, even as rents are cooling in other parts of the country. In New York City, rental activity typically builds from spring to a peak in late summer. This year,

By Ramishah Maruf, CNN New York (CNN) — Yang Huiyan, the chair of real-estate giant Country Garden and one of China’s richest women, has lost more wealth than any billionaire in the world in the past two years, Bloomberg reported Wednesday, as her building conglomerate sits on the edge of default. Her net worth has

By Danielle Wiener-Bronner, CNN New York (CNN) — Orange juice futures are hitting record highs because of bad weather and a nasty citrus disease. That could mean higher prices at the grocery store. In recent weeks, prices in the OJ futures market have topped $3 per pound. Around this time last year, prices were hovering

By Samantha Delouya, CNN (CNN) — The Walt Disney Company is hiking prices for its Disney+ streaming service again, as its third-quarter earnings report showed revenue struggles almost everywhere but international parks. The streaming service’s ad-free subscription will cost $13.99 beginning October 12, an increase of $3 per month. This is the second time in

By Samantha Murphy Kelly, CNN (CNN) — Thousands of people in Maui are without cell service as the wildfires continue to rage out of control on the island, preventing people from calling emergency services or updating loved ones about their status. It could take days or even weeks to get the networks back up and

By Nathaniel Meyersohn, CNN New York (CNN) — Barbie has already pulled in over a billion dollars. That still may not be enough to save AMC Theaters, which has a looming bill it may not be able to pay back. The world’s largest theater chain said Tuesday that sales increased 15% during the quarter ending

By Matt Egan, CNN Business New York (CNN Business) — Critics accuse President Joe Biden of waging a war on the oil industry that is hurting consumers at the gas pump. And yet, on his watch, US oil production is poised to shatter all-time records set during the Trump administration. US oil output is now

By Brian Fung, CNN Washington (CNN) — A judicial order forcing Apple to change some of its app store terms will not need to take immediate effect while litigation over the decision plays out, Supreme Court Justice Elena Kagan said on Wednesday, handing a temporary defeat to opponents of the company. The order is a

By Vanessa Yurkevich, CNN New York (CNN) — It’s the summer of girl power, fueled by Beyoncé, Taylor Swift and “Barbie.” Millions of people across generations are paying through the nose for these experiences, providing a women-powered boost to the economy. “I loved going with my family” to Taylor Swift and “Barbie,” said 15-year-old Chelsea

By Peter Valdes-Dapena, CNN (CNN) — The new all-electric Cadillac Escalade IQ shares virtually nothing with the boxy gas-powered Escalade, but it’s possibly the most important flag-bearer yet for the automaker’s transition to electric vehicles. General Motors unveiled the new EV version of the automaker’s most famous luxury model on Wednesday. It’s part of GM’s

By Cheri Mossburg, CNN Los Angeles (CNN) — Striking hotel workers in Southern California filed a complaint on Monday with the National Labor Relations Board alleging that the hotels were “committing and/or condoning violence” after a fight on the picket line, their union announced. Video shared by Unite Here 11 – a union representing dishwashers,

By Nathaniel Meyersohn, CNN New York (CNN) — New Jersey is now the only state in America where it’s illegal for drivers to pump their own gas. Oregon last week lifted its 72-year-old ban on self-service gas stations, allowing stations to operate half of their pumps as self-serve. Oregon’s law, which was signed Friday by

By Anna Cooban, CNN London (CNN) — Banking stocks in Italy and elsewhere in Europe rebounded Wednesday after the country watered down a plan to whack its banks with a surprise one-off 40% tax on their windfall profits. The finance ministry said late Tuesday that the levy would be capped at no more than 0.1%

By Michelle Toh, CNN Hong Kong (CNN) — Dentons, the world’s biggest law firm by number of employees, is distancing itself from its business in China in response to intensifying regulation in the country. The firm notified clients of the move this week in an internal memo shared with CNN Tuesday. Dentons said that starting