Money

Analysis by Bryan Mena and Nathaniel Meyersohn, CNN (CNN) — It’s becoming tougher and tougher for Americans to carry on with their spending spree. Years of elevated inflation and the highest interest rates in almost a quarter century are wearing out the US consumer. Savings accumulated during the Covid-19 pandemic are drying up, borrowers continue

By Clare Duffy and Brian Fung, CNN (CNN) — Elon Musk has sought to accumulate political capital commensurate with his extravagant wealth. In the past year, Musk has publicly opined on global conflicts, met with numerous world leaders and US senators to discuss artificial intelligence and his space and satellite technologies. And he has courted

By Hadas Gold, CNN (CNN) — The articles on a local news site popping up around the country appear to cover what any community outlet would focus on: crime, local politics, weather and happenings. “In-depth reporting about your home area,” the outlet’s slogan proudly declares. But a closer look at the bylines populating the local site and a national network of others — Sarah Kim, Jake Rodriguez,

By Nicole Goodkind, CNN New York (CNN) — US markets have had a rough week. The Dow has fallen by around 1,000 points over the last three days alone — and the negative momentum didn’t let up Thursday. The Dow closed 331 points lower, or 0.9%. The S&P 500 was down 0.6% and the Nasdaq

By Peter Valdes-Dapena, CNN (CNN) — Johnny Wactor, an actor who formerly starred in “General Hospital,” caught people in the act of stealing the catalytic converter from his car Saturday. Tragically, one of the thieves, according to witnesses and Los Angeles police, then shot and killed Wactor. It’s rare for someone to be murdered over

By Jordan Valinsky, CNN New York (CNN) — One of the most eagerly anticipated items ever made by Taco Bell is finally getting a nationwide release. Two years ago, Taco Bell and Cheez-It created two new menu items that used a massive cheese cracker — 16-times bigger than normal — for a test sold at

By Allison Morrow, CNN New York (CNN) — The most important carmaker in the world right now is the Chinese-owned, Warren Buffett-backed company that has Elon Musk in a pickle. BYD, a carmaker Musk once laughed at, overtook Tesla at the end of last year as the top seller of electric vehicles on the planet

By Matt Egan, CNN (CNN) — Many Americans would love to buy a home, but they don’t have tens of thousands of dollars to cover a down payment. That massive roadblock is being removed by a new zero-percent down mortgage program launched two weeks ago by one of the nation’s largest mortgage lenders. However, the new program,

By Gregory Wallace, CNN Washington (CNN) — Boeing executives presented sweeping changes to the company’s production process and safety systems in a three-hour meeting with the Federal Aviation Administration on Thursday. The plan is meant to reassure the public, airline customers and regulators that the troubled company’s planes are safe to fly. “This is a guide

By Matt Egan, CNN (CNN) — Senate Majority Leader Chuck Schumer and nearly two dozen Democrats pressed the Justice Department on Thursday to launch an industry-wide investigation into Big Oil for alleged collusion and price fixing. In a letter to Attorney General Merrick Garland, Schumer and his colleagues expressed “serious concern” about “alarming” allegations from

By Laura He, CNN Hong Kong (CNN) — China plans to invest around 6 billion yuan ($845 million) to develop next-generation battery technology powering electrical vehicles (EVs), even as its industrial policy has sparked overcapacity concerns and become a key target of US and European complaints. A total of six companies — including CATL, the

By Reuters (Sydney) — China has lifted bans on imports from five major Australian beef processing facilities, the Australian government said on Thursday, in the latest sign of improving relations between the two nations. Beijing has now removed restrictions from eight abattoirs but two remain subject to import bans, the government said. China imposed the

By Isabel Rosales and Chris Youd, CNN (CNN) — In yet another twist in the bizarre story of the dubious foreclosure threat against Elvis Presley’s iconic Memphis home, a person purporting to be involved in a scheme to steal Graceland responded to an email from CNN, claiming responsibility for the scam. “I didn’t win this

By Danielle Wiener-Bronner, CNN New York (CNN) — McDonald’s has a message for America: Rumors of Big Mac inflation are greatly exaggerated. “Recently, we have seen viral social posts and poorly sourced reports that McDonald’s has raised prices significantly beyond inflationary rates. This is inaccurate,” Joe Erlinger, president of McDonald’s USA, wrote in an open letter

By Jordan Valinsky, CNN New York (CNN) — Rest easy, America: Subway’s footlong cookie is back. Following a four-month long disappearance, Subway announced Wednesday the “triumphant return” of the oversized chocolate chip cookie, which was pulled from many restaurants less than two weeks after its January debut because of massive demand. The giant cookie was

By Sean Lyngaas, CNN (CNN) — A ransomware attack on a major US hospital network that began three weeks ago is endangering patients’ health as nurses are forced to manually enter prescription information and work without electronic health records, nurses at two hospitals affected by the cyberattack told CNN. “It’s putting patients’ lives in danger,”

By Nathaniel Meyersohn, CNN New York (CNN) — Goodbye 99 Cents Only. Hello Dollar Tree. Dollar Tree announced Wednesday it acquired leases for 170 of 99 Cents Only’s stores out of bankruptcy in Arizona, California, Nevada and Texas. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall.

By Marnie Hunter, CNN (CNN) — A lawsuit filed Wednesday on behalf of three Black men alleges “blatant and egregious race discrimination” by American Airlines when they were removed from a flight. The suit alleges that the plaintiffs – Alvin Jackson, Emmanuel Jean Joseph and Xavier Veal – and five other Black male passengers were

By Bryan Mena and Elisabeth Buchwald, CNN Washington (CNN) — The Federal Reserve Bank of Cleveland announced Wednesday that Beth M. Hammack will be its next president and chief executive officer after current president Loretta Mester retires at the end of June. Hammack, 52, joins the Cleveland Fed after three decades at Goldman Sachs. She

By Allison Morrow, CNN New York (CNN) — Customers of the crypto platform Gemini can expect to recover more than three times the value of their digital assets that were ensnared in the fallout of FTX — a rare outcome for creditors involved in a bankruptcy. Gemini, the exchange founded by Cameron and Tyler Winklevoss,