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By Chloe Melas, Aaron Cooper, Jennifer Korn and Nicki Brown, CNN Musician Ed Sheeran played guitar and sang on the stand Thursday as part of his testimony in a copyright infringement trial about whether his smash single “Thinking Out Loud” copied the classic Marvin Gaye song “Let’s Get It On.” Sheeran played the opening line
Continue ReadingBy Elisabeth Buchwald, CNN On Friday, the Federal Reserve is set to release the findings of its investigation into what caused Silicon Valley Bank to collapse last month. Randal Quarles, former vice chair of supervision at the Fed, told CNN in an exclusive interview that he doesn’t expect the report to uncover any smoking guns.
Continue ReadingBy Jordan Valinsky, CNN Business Bed Bath & Beyond’s competitors are coming to the rescue of customers looking to use expired coupons issued by the failed retailer. Big Lots said Thursday that it’s “assisting shoppers nationwide” by accepting expired Bed Bath & Beyond coupons until May 7. Customers that bring one of the iconic blue-and-whites
Continue ReadingBy Peter Valdes-Dapena, CNN Business Mercedes-Benz electric vehicle owners in North America who want a little more power and speed can now buy 60 horsepower for just $60 a month or, on other models, 80 horsepower for $90 a month. They won’t have to visit a Mercedes dealer to get the upgrade either, or even
Continue ReadingBy Brian Fung, CNN A group of states that sued to break up Facebook-parent Meta in 2020 were years too late to file their challenge and failed to make a persuasive case that the company’s data policies harmed competition, a federal appeals court ruled Thursday in a sweeping victory for the tech giant. In siding
Continue ReadingBy Anna Bahney, CNN Mortgage rates inched up again this week. Prior to last week’s rise, rates had dropped for five weeks in a row as inflation continues to ease. The 30-year fixed-rate mortgage averaged 6.43% in the week ending April 27, up slightly from 6.39% the week before, according to data from Freddie Mac
Continue ReadingBy Oliver Darcy, CNN Vice Media will cancel its acclaimed program “Vice News Tonight” as part of a broad restructuring that will result in painful cuts across the organization, the company said Thursday. “In response to the current market conditions and business realities facing [Vice Media Group] and the broader news and media industry, we
Continue ReadingBy Samantha Murphy Kelly, CNN Business Less than a few hours after Snapchat rolled out its My AI chatbot to all users last week, Lyndsi Lee, a mother from East Prairie, Missouri, told her 13-year-old daughter to stay away from the feature. “It’s a temporary solution until I know more about it and can set
Continue ReadingFrom CNN’s Krystal Hur, Nicole Goodkind, Alicia Wallace, Elisabeth Buchwald and Anna Bahney The-CNN-Wire™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
Continue ReadingBy Anna Bahney, CNN Pending home sales dropped in March, falling for the first time since November amid tight inventory and buyer uncertainty about the financial sector due to bank failures, according to data released Thursday by the National Association of Realtors. The pending sales index, a forward-looking indicator based on signed contracts to buy
Continue ReadingBy Oliver Darcy John King will take on a new role at CNN and step down as the anchor of “Inside Politics,” handing the torch to Dana Bash, who will take over as anchor of the esteemed program later this year, the news network announced Thursday. King, who also serves as CNN’s chief national correspondent,
Continue ReadingBy Nathaniel Meyersohn, CNN Gap said Thursday that it will lay off 1,800 employees as the struggling retailer looks to cut costs. The layoffs will impact the company’s corporate workers. As of January, Gap had around 95,000 employees globally, and 9% of them were corporate staff. Gap, which also owns Old Navy, Banana Republic and
Continue ReadingBy Bryan Mena, CNN US economic growth slowed to an annualized and seasonally adjusted rate of 1.1% in the first quarter of this year, as businesses rebalanced their inventories and pulled back on spending amid punishing rate hikes from the Federal Reserve. The increase in gross domestic product — the broadest measure of economic activity
Continue ReadingBy Hanna Ziady, CNN Barclays and Deutsche Bank have shrugged off a turbulent first quarter to post strong profit growth, helping to calm investors worried about the prospect of another US bank failure. The robust set of results was helped by income earned from higher interest rates, the lenders said Thursday. Shares in Barclays jumped
Continue ReadingBy Chris Isidore, CNN Southwest Airlines’ passengers have finally returned to the airline following its winter holiday service meltdown, enabling record revenue during the first quarter. The airline said its bookings in March were strong, allowing revenue to soar 22% to $5.7 billion in the quarter. That was up from year-ago results that were still
Continue ReadingCNN By Hanna Ziady, CNN Barclays and Deutsche Bank have shrugged off a turbulent first quarter to post strong profit growth, helping to calm investors worried about the prospect of another US bank failure. The robust set of results was helped by income earned from higher interest rates, the lenders said Thursday. Shares in Barclays
Continue ReadingBy Clare Duffy, CNN When Elon Musk first agreed to buy Twitter, he promised to make the company “better than ever,” with greater transparency, fewer bots, a stronger business and more of what he called “free speech.” But six months after Musk took control of Twitter, the future of the company and the platform have
Continue ReadingCNN By Brian Fung, CNN New York’s Metropolitan Transportation Authority said it would resume posting automated transit alerts to Twitter on Thursday after the social media company backtracked on a plan to charge public service accounts for access to the platform. In a statement Thursday, MTA Acting Chief Customer Officer Shanifah Rieara said Twitter had
Continue ReadingBy Nicole Goodkind, CNN First Republic Bank has been teetering on the edge for weeks. It may be finally falling. The San Francisco-based lender could be next in the line to collapse, following in the footsteps of former competitors Silicon Valley Bank and Signature Bank. It certainly fits the bill: First Republic, like SVB, is
Continue ReadingBy Rhea Mogul and Vedika Sud, CNN India’s defense minister told his Chinese counterpart on Thursday that violations of their shared border erode the “entire basis” of relations between the two Asian neighbors. Indian Defense Minister Rajnath Singh made the comments during a meeting with newly appointed Chinese Defense Minister Li Shangfu in New Delhi
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