Money

By Anna Cooban, CNN London (CNN) — When central banks raise interest rates, mortgage borrowers can expect higher monthly repayments, while savers are supposed to be rewarded with bigger returns on their deposits. Or so the theory goes. A top UK financial regulator met with the bosses of the country’s biggest banks Thursday asking them

By Laura He and Simone McCarthy, CNN Hong Kong (CNN) — US drugmaker Moderna has signed a deal to make mRNA medicines in China as part of its first major investment in the country, despite escalating trade and political tension between Washington and Beijing. The Cambridge, Massachusetts-based company signed a memorandum of understanding and a

By Jeanne Sahadi, CNN Business (CNN) — They are age-old questions: How much do you need to feel financially secure? How much would you need to feel rich? More than 2,500 US adults said they would need to earn, on average, $233,000 a year to feel financially secure and $483,000 annually to feel rich or

By Samantha Kelly, CNN (CNN) — Facebook has tried to compete with Twitter in numerous ways over the years, including copying signature Twitter features such as hashtags and trending topics. But now Facebook’s parent company is taking perhaps its biggest swipe at Twitter yet. Meta on Wednesday officially launched a new app called Threads, which

By Chris Isidore and Betsy Klein, CNN (CNN) — The White House is closely monitoring the upcoming labor talks in the US auto industry, negotiations that could put it at odds with the traditional support of a major union. So President Joe Biden is tapping a trusted adviser, Gene Sperling, to serve as the administration’s

CNN By Samantha Kelly, CNN (CNN) — Facebook has tried to compete with Twitter in numerous ways over the years, including copying signature Twitter features such as hashtags and trending topics. But now Facebook’s parent company is taking perhaps its biggest swipe at Twitter yet. Meta on Wednesday officially launched a new app called Threads,

By Brian Fung, CNN Washington (CNN) — Mark Zuckerberg has tried for years to take on Twitter. Now he may finally have his best chance to deliver a knockout blow to the social network at a turbulent moment. On Thursday, Meta is expected to launch Threads, which the company describes as a “text-based conversation app”

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — A marathon negotiating session between UPS and the Teamsters union ended early Wednesday morning with both sides accusing the other of walking away from the table. There are no signs of a contract settlement in sight. The current contract expires July 31, which means

CNN By Devan Cole and Vanessa Yurkevich, CNN (CNN) — A federal judge on Tuesday ordered some Biden administration agencies and top officials not to communicate with social media companies about certain content, handing a win to GOP states in a lawsuit accusing the government of going too far in its effort to combat Covid-19

By Jordan Valinsky, CNN Business New York (CNN) — To undercut its fast-growing rivals, Subway is making a big change to its meats. The chain’s roughly 20,000 US locations will freshly slice their deli meat beginning Wednesday, marking Subway’s biggest change since two years ago, when it began refreshing its menu offerings, ingredients and restaurant

By Jordan Valinsky, CNN New York (CNN) — Christmas Tree Shops will liquidate all of its stores and go out of business unless a white knight comes out of the woodwork at the 11th hour. The discount retail chain, which sold a variety of home goods, disclosed in a court filing last week that it

By Laura He, CNN Hong Kong (CNN) — Tesla’s deliveries from its Shanghai factory more than doubled in the second quarter, accounting for over half of its record global sales, according to a Chinese trade group. Tesla (TSLA) China’s wholesale deliveries reached 247,217 vehicles in the April to June months, up 120% from a year