Money

By Brian Fung, CNN Washington (CNN) — Twitter has been widely criticized for trying to charge transit agencies, third-party app developers and academics for data access to its platform, a move opponents say has forced independent apps to shut down and threatened research on misinformation and hate speech. Now, a similar revolt against Reddit may

By Anna Bahney, CNN Washington (CNN) — US mortgage rates jumped higher last week as uncertainty about the debt ceiling standoff sent bond yields rising. The 30-year fixed-rate mortgage averaged 6.79% in the week ending June 1, up from 6.57% the week before, according to data from Freddie Mac released Thursday. Rates jumped higher last

By Matt Egan, CNN New York (CNN) — JPMorgan Chase is pulling the plug on 21 branches acquired during its takeover of failed regional bank First Republic. In a statement on Thursday, JPMorgan said a quarter of First Republic’s 84 branches will shut by the end of the year. “These locations have relatively low transaction

By Peter Valdes-Dapena, CNN New York (CNN) — The National Highway Traffic Safety Administration proposed new rules this week that would require that new cars be equipped with automatic emergency braking with pedestrian detection. Automatic emergency braking, or AEB, is already standard on most passenger vehicles sold in the United States. In 2016, most major

By Nathaniel Meyersohn, CNN New York (CNN) — Dollar General investors approved a resolution Wednesday to create an independent audit of the chain’s safety policies because of violence at stores and millions of dollars in fines for workplace safety violations. The third-party audit should evaluate “management and business practices that contribute to an unsafe or

By Chris Isidore, CNN New York (CNN) — Fewer employers looking for workers means 270 employees at job search site ZipRecruiter will soon be out of a job. The company is cutting 20% of its staff by the end of this month, the company disclosed in a filing late Wednesday. “This action was taken in

By Nimi Princewill, CNN Abuja, Nigeria (CNN) — Fuel prices have nearly tripled in Nigeria after the country’s new President Bola Tinubu said his administration would no longer subsidize gasoline for citizens of Africa’s largest oil producer. In a seemingly off-the-cuff remark during his inaugural speech Monday, Tinubu declared, “the fuel subsidy is gone,” adding

By Catherine Thorbecke, CNN New York (CNN) — An eating disorder prevention organization said it had to take its AI-powered chatbot offline after some complained the tool began offering “harmful” and “unrelated” advice to those coming to it for support. The National Eating Disorders Association (NEDA), a nonprofit organization aimed at supporting people impacted by

By Nathaniel Meyersohn, CNN New York (CNN) — Macy’s, Costco and other big chains say shoppers are pulling back at their stores and changing what they buy. That could be a red flag for the US economy. Macy’s (M) on Thursday cut its annual profit and sales forecast after customer demand slowed. “The US consumer,

By Jordan Valinsky, CNN Business New York (CNN) — Sean “Diddy” Combs is suing Diageo for racial discrimination, claiming that the spirits company that produces DeLeón — the tequila he co-owns with the company — failed to market DeLeón on par with its other brands, including Don Julio and George Clooney’s Casamigos brands. In a

By Alicia Wallace, CNN Minneapolis (CNN) — Areas of the US economy have started to crack under the weight of persistently high inflation and a string of 10 consecutive rate hikes from the Federal Reserve. But despite all that, the labor market has kept humming right along. And that’s largely expected to be the case,

By Chris Isidore, CNN New York (CNN) — Hurricane season officially starts Thursday. But no matter how many storms hit Florida this year, the state’s residents are already struggling as they try to get homeowners’ insurance. National insurers have very little presence in Florida. Big insurance companies dominate more than half the market in the

By Danielle Wiener-Bronner, CNN New York (CNN) — Companies have long embraced Pride Month in June as an uncomplicated way to market to members of the LGBTQ+ community while telegraphing progressive values. But this year won’t be nearly so straightforward. In recent weeks, two major brands, Target (TGT) and Bud Light, were targeted by right-wing

By Michelle Toh, CNN Hong Kong (CNN) — Elon Musk has reclaimed his position as the world’s wealthiest person. That’s according to a Bloomberg Billionaires tally, which estimated the Tesla (TSLA) CEO’s net worth is now about $192 billion, compared to LVMH (LVMHF) CEO Bernard Arnault’s $187 billion. The two centibillionaires, a term used to