Money

By Claudia Colliva and Chris Liakos, CNN Paris (CNN) — French billionaire and LVMH owner Bernand Arnault is being investigated over his financial dealings with a Russian businessman, the Paris prosecutor’s office told CNN Friday. According to the prosecutor’s office, a preliminary probe is underway following a report by TRACFIN, a French government anti-money laundering

By Simone McCarthy (CNN) — Shipping containers from China are “piling up” in Russia amid a surge of Chinese goods flowing into the country as trade soars, a new analysis has found. Russia has an extra 150,000 shipping containers that importers are scrambling to return to China, logistics platform Container xChange said in a report

By Ramishah Maruf, CNN New York (CNN) — Wall Street Journal reporter Evan Gershkovich remains “defiant” six months after he was detained in Russia on spying charges, which he and the Journal strenuously deny, his mother told CNN’s Anderson Cooper Thursday night. “He’s smiling. He understands what’s going on,” Ella Milman said. “And I have

CNN By Ramishah Maruf, CNN New York (CNN) — Wall Street Journal reporter Evan Gershkovich remains “defiant” six months after he was detained in Russia on spying charges, which he and the Journal strenuously deny, his mother told CNN’s Anderson Cooper Thursday night. “He’s smiling. He understands what’s going on,” Ella Milman said. “And I

By Peter Valdes-Dapena, CNN (CNN) — The United States government’s Equal Employment Opportunity Commission sued Tesla Thursday alleging the automaker allowed repeated and overt displays of racism toward Black employees in its Fremont, California, factory. Racist slurs were allegedly used often by non-Black employees when speaking to Black employees at the factory, according to the

By Danielle Wiener-Bronner, Natasha Chen and Jack Hannah, CNN New York (CNN) — California is raising the minimum wage for fast food workers, marking a hard-won victory for those workers and union organizers. Amid chants of “when we fight, we win” from fast food employees and Service Employees International Union members in Los Angeles, California,

By Berry Wang and Jessie Yeung, CNN Hong Kong (CNN) — Artists across China are boycotting one of the country’s biggest social media platforms over complaints about its AI image generation tool. The controversy began in August when an illustrator who goes by the name Snow Fish accused the privately owned social media site Xiaohongshu

By Samantha Murphy Kelly, CNN Business (CNN) — Netflix will send out its last red envelope on Friday, marking an end to 25 years of mailing DVDs to members. The company announced earlier this year it is shutting down its DVD-by-mail service, 16 years after it gradually shifted its focus to streaming content online. Netflix

By Danielle Wiener-Bronner, CNN New York (CNN) — Girl Scout cookies are getting more expensive. In some places, at least. At least one New York State chapter, the Girl Scouts Heart of the Hudson, told troop parents and other members of the community in an email this week that all cookies will be sold for

By Clare Duffy, CNN (CNN) — Epic Games, the maker of Fortnite, said on Thursday that it will lay off 16% of its staff, around 830 employees, as it attempts to reverse what CEO Tim Sweeney called “unrealistic” spending. In a letter to employees Thursday, Sweeney said the video game company had been “spending way

By Jordan Valinsky, CNN Business New York (CNN) — Taylor Swift is so powerful that people are willing to pay for New York Jets tickets. News that the star is rumored to be attending this Sunday’s game to see Kansas City Chiefs star Travis Kelce has sent prices soaring more than 40% — from $83

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates surged to their highest level in nearly 23 years this week as inflation pressures persisted. The 30-year fixed-rate mortgage averaged 7.31% in the week ending September 28, up from 7.19% the week before, according to data from Freddie Mac released Thursday. A year ago,

By Bryan Mena, CNN Washington, DC (CNN) — The Commerce Department’s final revision of second-quarter gross domestic product, the broadest measure of economic output, showed that economic growth was unchanged from the second estimate, holding at an annualized rate of 2.1%. However, consumer spending, America’s economic engine, was revised much lower, to a 0.8% annualized

By Anna Bahney, CNN Washington, DC (CNN) — US pending home sales dropped 7.1% in August from the month prior as mortgage rates surging over 7% in August to levels not seen in 20 years packed a punch. Pending sales had been on the rise the two months prior, despite elevated prices and higher mortgage

By Jordan Valinsky, CNN New York (CNN) — Peloton and Lululemon, former foes, are teaming up together. The fitness companies announced a five-year “strategic global partnership,” which involves Lululemon ditching its Mirror fitness hardware and Peloton reducing production of its private-label line of fitness clothing. Financial terms of the deal weren’t disclosed. Beginning next month,

By Nathaniel Meyersohn, CNN New York (CNN) — The auto industry has announced more than $100 billion in electric car investments, creating more than 100,000 American jobs. A second Donald Trump presidency could derail the push. Despite Former President Donald Trump’s claims at a Detroit rally Wednesday that EVs are “too expensive” and “don’t go

By Jordan Valinsky, CNN New York (CNN) — For tired workers, this Friday is arguably the best day of the year: It’s National Coffee Day. Coffee shops, large and small, celebrate it annually with free (what else?) coffee and other deals. Peet’s is even offering a “Disloyalty Program” that incentivizes customers of its rivals to

By Danielle Wiener-Bronner, CNN New York (CNN) — The Department of Labor is investigating meat and chicken processors Perdue and Tyson Foods following a New York Times magazine report of minors working at their facilities. Earlier this year, the federal government committed to ratcheting up efforts to root out child labor law violations. “There are

By Laura He and Mark Thompson, CNN Hong Kong/London (CNN) — Embattled Chinese developer Evergrande Group said Thursday that Chinese authorities suspected its chairman of “crimes” and that shares in the company would remain suspended until further notice. Trading in the shares of Evergrande and two subsidiaries was halted in Hong Kong earlier Thursday, stoking