Money

By Chris Isidore, CNN New York (CNN) — A 10-day UPS strike could cost the US economy $7.1 billion. That could make it the costliest work stoppage ever in US history, according to an estimate from a Michigan economic research firm that studies the costs of labor disruptions. The estimate from Anderson Economic Group said

By Olesya Dmitracova and Alex Stambaugh, CNN London/Hong Kong (CNN) — The European Union has lifted all import restrictions on food, including fish, produced near the Fukushima nuclear plant in Japan just as Tokyo prepares to release treated radioactive wastewater into the ocean. The bloc’s move follows positive results from tests carried out on the

By Michelle Toh, Juliana Liu and Teele Rebane, CNN Hong Kong (CNN) — A corruption investigation in Singapore has expanded to include Ong Beng Seng, a hotel tycoon best known for bringing the Formula 1 Grand Prix to the wealthy city state. Ong, managing director of Hotel Properties Limited, was arrested last Tuesday, along with

By Anna Bahney, CNN Washington, DC (CNN) — America is in the middle of a housing crisis. There are only 1.08 million existing homes on the market, and the affordability of a single-family home is at its lowest level in several decades. One bid to close the estimated 3.8 million unit deficit in housing is

By Laura He, CNN Hong Kong (CNN) — China has published new rules for generative artificial intelligence (AI), becoming one of the first countries in the world to regulate the technology that powers popular services like ChatGPT. The Cyberspace Administration of China, the country’s top internet watchdog, unveiled a set of updated guidelines on Thursday

By Michelle Toh, CNN Hong Kong (CNN) — Wipro, one of India’s top providers of software services, wants everyone on staff to know how to use artificial intelligence. The IT giant announced Wednesday it would spend $1 billion on improving its artificial intelligence capabilities over the next three years, including training its entire staff of

By Samantha Delouya, CNN (CNN) — Buybuy Baby will close all of its stores as part of its parent company Bed Bath & Beyond’s ongoing bankruptcy liquidation. On Tuesday, a judge approved the sale of Buybuy Baby’s intellectual property for $15.5 million to Dream on Me industries, a New Jersey-based designer and supplier of baby

By Elisabeth Buchwald New York (CNN) — Despite promising signs that inflation is abating, San Francisco Federal Reserve Bank President Mary Daly said the fight against price increases isn’t over. “There is no doubt that the good news on inflation is good news indeed,” Daly said in an interview with CNBC on Thursday. But she

By Elisabeth Buchwald, CNN New York (CNN) — St. Louis Federal Reserve President James Bullard announced Thursday he is stepping down from his position in mid-August. “It has been both a privilege and an honor to be part of the St. Louis Fed for the last 33 years, including serving as its president for the

By Nathaniel Meyersohn, CNN New York (CNN) — Republicans are escalating their legal threats against Target, pressuring the company to remove merchandise for transgender customers and backtrack on its initiatives to hire minorities and diversify vendors. In singling out Target, GOP lawmakers and right-wing social media personalities are sending a larger warning to corporate America

By Ellie Stevens, CNN (CNN) — Your Chipotle guacamole may soon be prepared by a robot. Meet “Autocado,” a Chipotle robot designed to perform the more tedious tasks of creating the chain’s guacamole, including cutting, coring and peeling avocados. With the robot prototype — which frankly looks more like a boxy silver refrigerator than a

By Samantha Delouya and Natasha Chen, CNN Los Angeles (CNN) — Long lines and jam-packed crowds tend to go hand in hand at Central Florida’s world-famous theme parks during the summer months, but Walt Disney World and Universal Orlando parkgoers may be in for a reprieve this season. Wait times for rides and attractions at

By Nathaniel Meyersohn, CNN New York (CNN) — America still loves a bargain. Consumers spent $12.7 billion across the web on July 11 and 12 during Amazon’s Prime Day sales, a 6.1% jump from a year ago, according to Adobe Analytics. Walmart, Target, and other retailers also offered savings deals to customers. Amazon said July

By Chris Isidore, CNN New York (CNN) — Remember when a new television season started in September? Not this year. Looking forward to big-budget blockbusters coming to a theater near you next summer? Maybe not. You’ve always heard great things about “Breaking Bad” or “The Wire” but you never got around to watching it? Or

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates climbed higher this week, inching closer to 7% and reaching their highest level since November. The 30-year fixed-rate mortgage averaged 6.96% in the week ending July 13, up from 6.81% the week before, according to data from Freddie Mac released Thursday. A year ago,

By Anna Cooban, CNN London (CNN) — The price of Russian crude oil has risen above a price cap set by the Group of Seven nations, in the first “real test” of whether the West can enforce one of its key sanctions against Moscow. The benchmark price of Russian Urals crude topped $60 a barrel

By Melissa Mahtani, CNN (CNN) — Texas’s ban on TikTok at state institutions violates the First Amendment, claims a lawsuit filed Thursday by a group of academics and civil society researchers. The Knight First Amendment Institute at Columbia University filed the lawsuit on behalf of the Coalition for Independent Technology Research, – which works to

By Kara Scannell, CNN New York (CNN) — US prosecutors charged the former CEO of bankrupt cryptocurrency platform Celsius Networks with defrauding customers and misleading them about the company’s business. An indictment unsealed Thursday in New York charges Alexander Mashinsky with securities fraud, wire fraud and commodities fraud. Mashinsky and Roni Cohen-Pavon, Celsius’ chief revenue

By Brian Fung, CNN Washington (CNN) — Twitter has asked a federal court to terminate a 2022 privacy settlement with the Federal Trade Commission that is the subject of an ongoing FTC investigation, alleging that the probe has “spiraled out of control and become tainted by bias.” The request accuses the FTC of prejudging the

By Hanna Ziady and Nadine Schmidt, CNN London/Berlin (CNN) — Germany announced Thursday that it would reduce its dependence on China in “critical sectors” including medicine, lithium batteries used in electric cars and elements essential to chipmaking. The government published its first ever “Strategy on China,” a 40-page document that highlights the tightrope Berlin must