Money

By Hanna Ziady, CNN London (CNN) — UBS has reported its first quarterly profit since buying ailing rival Credit Suisse, marking a sharp turnaround from six months of losses that immediately followed the closure of the rescue deal. Shares in the Swiss lender surged 10% in Zurich Tuesday after it posted net profit of $1.8

By Jordan Valinsky, CNN New York (CNN) — Disgraced former Theranos CEO Elizabeth Holmes could be out of prison several months earlier than expected, according to the projected release date posted by the Bureau of Prisons. The Bureau of Prisons’ online database currently shows that Holmes’ expected release date from a Texas prison is August

By Jerome Taylor, CNN Hong Kong (CNN) — Nintendo says it plans to announce the followup to its popular Switch console by March 2025. “We will make an announcement about the successor to Nintendo Switch within this fiscal year,” Shuntaro Furukawa, the company’s president, wrote on X on Tuesday. “It will have been over nine

By Mariya Knight, CNN Atlanta (CNN) — Vladimir Kara-Murza, a prominent Russian human rights advocate and Kremlin critic, has won the Pulitzer Prize for commentary written from his prison cell. Kara-Murza is serving a 25-year jail term for publicly criticizing Moscow’s war in Ukraine. The sentence had been widely condemned by the international community as draconian

By Nicole Goodkind, CNN New York (CNN) — Warren Buffett is worried about artificial intelligence. At his annual shareholder meeting in Omaha, Nebraska, the 93 year-old co-founder, chairman and CEO of Berkshire Hathaway issued a stark warning about the potential dangers of the technology. “We let a genie out of the bottle when we developed

By Jordan Valinsky, CNN New York (CNN) — Former Starbucks CEO Howard Schultz might have left the coffee giant several months ago, but he’s still offering critiques of the company he ran for about 25 years over three stints. Following the release of Starbucks’ dismal earnings, Schultz wrote on his LinkedIn account that he was

By Samantha Murphy Kelly, CNN (CNN) — When Ana Schultz, a 25-year-old from Rock Falls, Illinois, misses her husband Kyle, who passed away in February 2023, she asks him for cooking advice. She loads up Snapchat My AI, the social media platform’s artificial intelligence chatbot, and messages Kyle the ingredients she has left in the

By Laura He, CNN Hong Kong (CNN) — China has reported a surge in tourism during the just concluded Labor Day holiday, but travelers cut back on their spending, in a sign that consumption in world’s second largest economy remains sluggish. Tourists made a total of 295 million trips within mainland China during the five-day-long

By Oliver Darcy, CNN New York (CNN) — Kim Godwin, the embattled president of ABC News, abruptly announced Sunday evening that she will exit the network, capping a tumultuous three-year run at the outlet after staffers said her polarizing leadership led to plummeting employee morale. “I have decided to retire from broadcast journalism,” Godwin told

By Parija Kavilanz, CNN New York (CNN) — Retailers are feeling jittery. Consumers aren’t shopping like they used to. In a game of chicken between stores and shoppers, it’s the stores that appear to be yielding first, by dropping prices on thousands of products. The markdowns come as inflation has pushed prices higher for the

By Ramishah Maruf, CNN New York (CNN) — After several days of protests, pro-Palestinian encampments on the campuses of Ivy League schools Columbia and Brown came down last week. But while the apparent end of Columbia’s pro-Palestinian encampments was marred by a takeover of a building, a mass arrest, and a widespread condemnation of the

By Samantha Delouya, CNN (CNN) — Elevated interest rates and pricier listings have made it even harder to afford a new home. But there is an often-overlooked expense when buying a home: closing costs. These costs, which are the fees owed on the day you finalize the purchase of a home, have risen in recent

By Tami Luhby, CNN (CNN) — The mix of local residents visiting the Enfield Food Shelf in Connecticut has changed a lot in the last few years. Prior to the Covid-19 pandemic, many were elderly or disabled people on fixed incomes, said Kathleen Souvigney, the food pantry’s executive director for the past decade. But now,

CNN By Parija Kavilanz, CNN New York (CNN) — Retailers are feeling jittery. Consumers aren’t shopping like they used to. In a game of chicken between stores and shoppers, it’s the stores that appear to be yielding first, by dropping prices on thousands of products. The markdowns come as inflation has pushed prices higher for

By Parija Kavilanz, CNN New York (CNN) — It’s a moment many shoppers grapple with at some point during a grocery run: Why does a carton of brown eggs cost more than a carton of white eggs? It’s not what you might think. It’s not about one type being healthier, or more natural or fancier

By Nicole Goodkind and Eva Rothenberg, CNN New York (CNN) — Welcome to “Woodstock for capitalists.” Tens of thousands of Berkshire Hathaway shareholders and Warren Buffett fans flocked to Nebraska this weekend to consume Berkshire (BRKB)-owned See’s Candies and Dairy Queen Dilly Bars, compete in newspaper-throwing contests and, perhaps most important, to see the Oracle

By Jordan Valinsky, CNN New York (CNN) — Rue21, a mall staple for teen apparel, is going out of business and closing all 540 of its stores within the coming weeks. The Pittsburgh-based company filed for bankruptcy Thursday for the third time in its existence, signaling the end of nearly 50 years in business for