Money

By Matt Egan, CNN New York (CNN) — Congressional Democrats are investigating whether leading US oil companies have illegally colluded with one another and with OPEC to inflate prices at the pump, CNN has learned. Rep. Frank Pallone Jr., the ranking member of the House Committee on Energy and Commerce, sent a letter Tuesday night

By Laura He, CNN Hong Kong (CNN) — Apple is offering unprecedented price cuts in China as big brands and retailers launch promotions for the annual “618” shopping festival in the face of sluggish consumer demand. The hefty discounts by the iPhone maker come at a time when it is battling stiff competition from Chinese

By Anna Cooban, CNN London (CNN) — UK regulators slapped a combined £62 million ($79 million) fine on Citigroup Wednesday for failures in its trading systems that almost resulted in stocks worth $189 billion being dumped onto European markets. The Financial Conduct Authority (FCA) imposed a fine of nearly £28 million ($36 million) on Citigroup

By Ramishah Maruf, CNN New York (CNN) — Peloton said it has paused the use of music recorded by Sean “Diddy” Combs on its workout class platform in response to a member of a private Facebook group for Peloton users. In the comment posted on Monday, the company said it also removed the Bad Boy Entertainment Artist Series,

By Danielle Wiener-Bronner, CNN New York (CNN) — Children have again been found working at a Mar-Jac Poultry slaughterhouse, according to the US Department of Labor. The latest discovery in Alabama comes less than a year after a teen worker was killed at a company facility in Mississippi. In a civil complaint filed May 7,

By Peter Valdes-Dapena, CNN (CNN) — Nissan is postponing a push to build new electric vehicles at its Canton, Mississippi, factory as sales of EVs are now growing more slowly than many industry experts had expected. EV sales in the US grew 2.6 % in the first quarter of 2024 compared to the same period

By Peter Valdes-Dapena, CNN (CNN) — Federal regulators are investigating a California crash that killed four occupants who rode in a VinFast electric SUV, which had automated steering features the owner had earlier complained about. The VinFast VF8, made by the Vietnamese automaker founded in 2017, veered off the road and crashed into a pole

By Nicole Goodkind, CNN New York (CNN) — JPMorgan Chase CEO Jamie Dimon has bumped up his retirement plans, the longtime head of America’s largest bank said Monday. Dimon is one of the most well-known and closely listened to CEOs in the world. Over the course of his tenure at JPMorgan Chase, he’s become somewhat

By Alicia Wallace, CNN (CNN) — Inflation may have slowed last year, but it continued to deal heavy blows — some devastating — on Americans’ livelihoods: Nearly two-thirds of US adults were worse off because of it, and roughly 1 in 6 couldn’t pay all their monthly bills, new Federal Reserve data shows. The Fed

By Jordan Valinsky, CNN New York (CNN) — Breakout basketball star Caitlin Clark has a new achievement that hasn’t been accomplished since Michael Jordan. The WNBA player signed a multiyear deal with Wilson Sporting Goods Co., the league’s official basketball supplier, for “signature basketball collections celebrating Clark’s continued legacy,” the company announced Tuesday. Wilson said

By Jon Passantino, Hadas Gold and Oliver Darcy, CNN (CNN) — In a sharp reversal, Israel said Tuesday it would return camera and broadcast equipment it had seized from The Associated Press in the southern Israeli city of Sderot on Tuesday after the action prompted swift backlash from US officials and press groups. In a statement late Tuesday, Israel’s Communications Minister Shlomo Karhi said that he “has ordered that the equipment be returned

By Anna Cooban, CNN London (CNN) — Jobs that require artificial intelligence skills offer significantly higher wages than those that don’t, according to new research published Tuesday. Consultancy PwC studied advertisements, posted last year, for a range of jobs, including app programmers, lawyers and accountants. It found that wages for AI-related roles were on average

By Jordan Valinsky, CNN New York (CNN) — Nestlé, the maker of frozen food brands like Stouffer’s and DiGiorno, is slimming down with a new line of meals for people taking GLP-1 drugs, such as Ozempic, for weight loss. The new frozen food brand called Vital Pursuit will consist of 12 portion-controlled meals, high in

By Samantha Murphy Kelly, CNN (CNN) — Microsoft jumped headfirst into building artificial intelligence directly into its Windows operating system on Monday, announcing new AI computers that could help ramp up flagging PC sales. The developments push the company closer to its long-time goal to “build computers that understand us versus us having to understand computers,”

By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s trade agenda amounts to a tripling-down of the trade war he waged during his first term in office. Not only has Trump called for a 60% tariff on all Chinese goods, the presumptive GOP presidential nominee has said he would impose a tariff

By Raja Razek, CNN (CNN) — Elvis Presley’s granddaughter is suing to stop a foreclosure sale of the late singer’s historic Memphis home, Graceland, scheduled this week, alleging fraud and saying the purported company behind the sale doesn’t exist and has no rights to the property. Danielle Riley Keough, the granddaughter of Elvis and the

By Oliver Darcy, CNN (CNN) — Vox is preparing to celebrate its 10th birthday — making a major change to its business model that reflects how digital news publishers are scrambling to evolve as they are increasingly starved of referral traffic and advertising revenue. Not only will Vox debut a refreshed website on Tuesday morning to

By Elisabeth Buchwald, CNN New York (CNN) — Martin Gruenberg, head of the Federal Deposit Insurance Corporation, will step down following a scathing independent investigation detailing pervasive sexual harassment, discrimination and bullying at the agency charged with regulating the banking sector. “In light of recent events, I am prepared to step down from my responsibilities

By Matt Egan, CNN New York (CNN) — Trump Media & Technology Group lost more than $300 million during the first quarter and generated very little revenue, the owner of Truth Social announced in a press release Monday. The results will raise additional questions about the multi-billion dollar valuation on the newly public company, which