By Kathleen Magramo, CNN Hong Kong on Tuesday announced it would scrap some remaining restrictions on travelers and end contact tracing, after Beijing shifted away from its hardline zero-Covid stance. The city’s health secretary is due to formally announce the removal of curbs on international visitors and the end of requirements to scan a government
Continue ReadingBy Laura He, CNN China has challenged a move by the United States to block sales of advanced computer chips and chip-making equipment to Chinese companies by launching a trade dispute at the World Trade Organization, calling the measures “trade protectionism.” The country’s commerce ministry filed a formal complaint against the United States with the
Continue ReadingBy Allison Morrow, CNN Sam Bankman-Fried, the founder of failed crypto exchange FTX, was arrested in the Bahamas on Monday after US prosecutors filed criminal charges against him, according to a statement from the government of the Bahamas. The Southern District of New York, which is investigating Bankman-Fried and the collapse of FTX and its
Continue ReadingBy Ramishah Maruf, CNN Millions of angered Taylor Swift fans didn’t receive tickets to the artist’s latest tour after a widely scrutinized debacle over bungled ticket sales. But ticketing giant Ticketmaster announced Monday that a select group of fans might be able to receive tickets after all. The lucky group is among those fans who
Continue ReadingBy Chris Isidore and Vanessa Yurkevich, CNN Railroad workers could get the paid sick days that were at the heart of their threat to go on strike — if the Biden administration steps in with an executive order. Workers have been unsuccessful getting their demands for paid sick leave met through months of negotiations with
Continue ReadingBy Peter Valdes-Dapena, CNN Business Tesla CEO Elon Musk has said numerous times since 2015 that Tesla cars would be entirely self-driving in two years, or less. But years after his self-imposed deadlines have blown by, it still hasn’t happened. Even when equipped with a $15,000 technology package that is literally called “Full Self Driving
Continue ReadingBy Alicia Wallace, CNN The US government recorded a monthly budget deficit of $249 billion in November, a 30% increase from a year earlier amid increased spending and falling revenue, the Treasury Department reported Monday. Federal budget outlays increased by $28 billion, or 6% in November, with agencies such as the Education Department reporting increased
Continue ReadingBy Allison Morrow, CNN With his vast crypto empire in ruins, Sam Bankman-Fried is preparing to be grilled by US lawmakers who are demanding answers about how his digital asset exchange, FTX, came unraveled, leaving at least a million customers unable to access their funds. Bankman-Fried tweeted Friday that he was willing to appear Tuesday
Continue ReadingBy Peter Valdes-Dapena, CNN Business Subaru is recalling 271,694 SUVs because some of them could catch fire. The company is advising owners of some 2019 to 2022 model year Subaru Ascent SUVs to park them outside, away from garages or other structures, and not to leave the vehicles unattended with the engine running. An electrical
Continue ReadingBy Oliver Darcy, CNN Business “GMA3” co-anchors T.J. Holmes and Amy Robach will “remain off-air pending the completion of an internal review,” ABC News President Kim Godwin disclosed to network employees in a memo Monday morning. The memo is the first time Godwin has acknowledged to the company the existence of a formal internal probe
Continue ReadingBy Matt Egan, CNN Treasury Secretary Janet Yellen is striking a cautiously optimistic tone about 2023, predicting a major inflation cooldown and stressing that a recession isn’t required to get prices back under control. “I believe by the end of next year you will see much lower inflation, if there’s not an unanticipated shock,” Yellen
Continue ReadingBy Paul R. La Monica, CNN The holidays are meant to be the most wonderful time of the year. But for investors, this week just might be the most stressful time of the year. On the consumer front, two key economic reports — the Consumer Price Index read on inflation and retail sales — come
Continue ReadingBy Oliver Darcy, CNN Business The Wall Street Journal on Monday named Emma Tucker as its next editor-in-chief, marking the first time the Rupert Murdoch-owned financial broadsheet will be headed by a woman. Tucker, who currently serves as the editor of The Sunday Times, another Murdoch-owned newspaper, will succeed current Journal editor Matt Murray at
Continue ReadingBy Alicia Wallace, CNN Consumers are expecting inflation to improve in the coming months, according to new survey data from the Federal Reserve Bank of New York. In November, consumers’ median inflation expectations for the next year and three years out were 5.2% and 3%, respectively. That’s down from October’s median expectations of 5.9% and
Continue ReadingCNN, CNNBUSINESS By Alicia Wallace, CNN The trend is clear: Inflation is cooling off in America. The Federal Reserve’s preferred measurement of inflation showed price increases continued to moderate in November, providing yet another welcome indication that the period of painfully high prices has peaked. The Personal Consumption Expenditures price index, or PCE, rose 5.5%
Continue ReadingBy Jordan Valinsky, CNN Business Elon Musk joined Dave Chappelle on stage Sunday in San Francisco, home of Twitter’s headquarters where the world’s richest person recently laid off many of its employees. It went about as well as you’d expect. The crowd at the Chase Center loudly booed Musk, who had spent much of the
Continue ReadingCNN By Chris Isidore, CNN Business Elon Musk just sold another 22 million shares of Tesla, raising $3.6 billion. Musk sold the shares on Monday, Tuesday and Wednesday this week. The sales were disclosed in an SEC filing late Wednesday. Musk did not disclose the reason for the sales in the filing. They’re his first
Continue ReadingBy Julia Horowitz, CNN Europe has the energy supplies it needs to make it through the year. But 2023 might be a different story. That’s the warning issued by International Energy Agency chief Fatih Birol and European Commission President Ursula von der Leyen, who on Monday held a joint press conference to lay out the
Continue ReadingBy Anna Cooban, CNN Nurses in the United Kingdom have reached breaking point. As many as 100,000 members of the Royal College of Nursing will walk out across England, Wales and Northern Ireland on Thursday in the first of two days of strikes this month to protest poor pay and working conditions. They plan to
Continue ReadingBy Nicole Goodkind, CNN ‘Tis the season for Wall Street strategists to pack their clients’ inboxes with market predictions for 2023. A lot of what pours in around this time of year is fascinating and rigorous research, but a lot is also moot. It’s simply impossible to predict what will happen over the next 365
Continue Reading