Money

By Catherine Thorbecke, CNN (CNN) — Once a Silicon Valley icon and paper billionaire, Elizabeth Holmes will now have to wake every morning at 6 a.m., hold a job paying as little as $0.12 an hour, and share bathing facilities at a prison camp in southern Texas. Holmes reported to the Federal Prison Camp in

By Matt Egan, CNN New York (CNN) — The debt ceiling deal in Washington did not set off a celebration in the stock market. But the bipartisan compromise is causing fireworks for some companies that have emerged as winners. Shares in pipeline company Equitrans Midstream surged Tuesday because the agreement contains a surprising call to

By Nicole Goodkind, CNN New York (CNN) — Booming demand for its AI chips has landed Nvidia (NVDA) a prime spot in one of the most exclusive clubs on Wall Street: The chipmaker hit a market cap of $1 trillion on Tuesday. It’s just the ninth company globally to have achieved such a feat, and

By Brian Fung, CNN Washington (CNN) — Dozens of AI industry leaders, academics and even some celebrities on Tuesday called for reducing the risk of global annihilation due to artificial intelligence, arguing in a brief statement that the threat of an AI extinction event should be a top global priority. “Mitigating the risk of extinction

By Hanna Ziady, CNN London (CNN) — Brits woke up to yet more grim news on inflation Tuesday, with new data showing prices in UK stores are rising at a record pace. It’s the latest sign of a seemingly intractable cost-of-living crisis that has Prime Minster Rishi Sunak considering drastic measures, including price controls, to

By Anna Bahney, CNN Washington, DC (CNN) — US home prices rose slightly in March, showing a continuing recovery, according to the latest S&P CoreLogic Case-Shiller US National Home Price Index, released Tuesday. It’s the second month in a row that prices have increased, after an increase in February that snapped a seven-month streak of

By Catherine Thorbecke, CNN (CNN) — Elizabeth Holmes reported to prison on Tuesday, capping off a stunning downfall for the disgraced founder of failed blood testing startup Theranos. Holmes was sentenced to more than 11 years in prison last November, after she was convicted months earlier on multiple charges of defrauding investors while running the now-defunct startup.

By Matt Egan, CNN New York (CNN) — Cash levels at the US Treasury are tumbling toward a dangerously low level as Washington waits until the last minute to raise the debt ceiling. As of the close of business on May 25, Treasury had just $38.8 billion in cash, according to the latest federal data.

By Matt Egan, CNN New York (CNN) — Leading business groups are praising President Joe Biden and House Speaker Kevin McCarthy for forging a bipartisan agreement to raise the debt ceiling, and they are calling for Congress to pass the legislation before the government suffers a devastating default. “With the US at risk of defaulting

By Clare Duffy, CNN New York (CNN) — Criticized for giving into governments’ censorship demands, Elon Musk on Sunday claimed that Twitter has “no actual choice” about complying those requests. The comment comes after Musk has previously called himself a “free speech absolutist” and said he wanted to buy Twitter to bolster users’ ability to

By David Goldman, CNN New York (CNN) — Disney’s live-action movie “The Little Mermaid” brought in $117.5 million at the US box office in the fifth-best opening for Memorial Day weekend in history, according to Box Office Mojo. The remake of the 1989 Disney animated classic stars Halle Bailey as Ariel. Bailey’s adaptation of the

By Hanna Ziady, CNN London (CNN) — WPP, the world’s largest advertising agency, has teamed up with chipmaker Nvidia to create ads using generative artificial intelligence. The companies announced the partnership Monday, with Nvidia (NVDA) CEO Jensen Huang unveiling WPP’s new content engine during a demo at Computex Taipei. “Generative AI is changing the world

By Ramishah Maruf, CNN New York (CNN) — The last Monday of May honors and mourns members of the US armed forces who died serving the country. This year, Memorial Day is on Monday, May 29. Many office workers and school children will see a day off to start the summer season. Here’s what’s open