CNN – Business/Consumer

By Brian Fung, CNN (CNN) — The Justice Department’s massive antitrust suit against Live Nation on Thursday reflects widespread frustration among fans and concertgoers everywhere who are fed up with confusing fees, ticket restrictions and poor customer service at its Ticketmaster business, the country’s biggest live event ticketing company. But the Department of Justice says

By Nicole Goodkind, CNN New York (CNN) — The Dow tumbled by more than 600 points Thursday, notching its worst day of 2024, as all three major indexes closed lower. The drop came even after AI-darling Nvidia delivered stellar quarterly earnings and announced a 10-for-1 stock split. Chipmaker Nvidia (NVDA) soared more than 9% as the

By Clare Duffy, CNN New York (CNN) — Meta this week appointed a group of outside advisors to provide guidance on its artificial intelligence strategy. The four-person advisory group is composed entirely of White men. The tech giant said the group, which includes tech entrepreneurs and investors, will periodically consult with Meta’s management “on strategic

By Bryan Mena, CNN Washington (CNN) — Mortgage rates declined for the third consecutive week in a shred of good news for Americans dealing with a still-tough housing market. The standard 30-year fixed-rate mortgage averaged 6.94% in the week ending May 23, down from last week’s average of 7.02%, according to Freddie Mac data released

CNN By Brian Fung, Hannah Rabinowitz and Sabrina Souza, CNN Washington (CNN) — In a groundbreaking antitrust lawsuit that threatens to upend the way concertgoers pay for tickets, the US government and dozens of states sued Live Nation on Thursday, alleging that for years the parent company of Ticketmaster abused its industry dominance to harm

By Brian Fung, Hannah Rabinowitz and Sabrina Souza, CNN Washington (CNN) — In a groundbreaking antitrust lawsuit that threatens to upend the way concertgoers pay for tickets, the US government and dozens of states sued Live Nation on Thursday, alleging that for years the parent company of Ticketmaster abused its industry dominance to harm fans

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. On Wednesday, Will Lewis, the newly minted publisher and chief executive of The Washington Post, strode on stage before gathered staffers at the company’s D.C.

By Curt Devine, Allison Gordon and Kyung Lah, CNN (CNN) — When SWAT officers swarmed a house in a sleepy San Jose, California neighborhood last month, they found what could best be described as a make-shift hardware store inside: Shelves lined with boxes of brand-new tools, bathroom fixtures and spools of industrial wiring. It resembled

By Olesya Dmitracova, CNN London (CNN) — Mondelez, the maker of Oreo and Cadbury Dairy Milk chocolate, has been fined €337.5 million ($366 million) for hindering the trade of chocolate, cookies and coffee between European Union countries in order to keep prices high. Margrethe Vestager, the EU’s competition chief, said in a statement Thursday that Mondelez had

By Laura He, CNN Hong Kong (CNN) — PDD Holdings, the owner of Temu and Pinduoduo, is blowing past market expectations with a massive surge in profit and revenue as American and Chinese consumers swarm its bargain shopping apps for low-cost products. The Shanghai-based company reported Wednesday that net profit soared 246% to 28 billion

By Evan Perez, CNN (CNN) — The Justice Department and several states are expected to file a lawsuit as soon as Thursday against Live Nation Inc, citing alleged antitrust violations at least in part due to the market dominance of the company’s Ticketmaster unit, a person briefed on the planned legal action said. A successful

By Samantha Delouya, CNN (CNN) — DuPont de Nemours, the American multinational chemical company that traces its history back to 1802, announced plans to split into three publicly traded companies on Wednesday. The company plans to spin off its electronics and water businesses into their own yet-to-be-named companies in a transaction that is tax-free to

By Bryan Mena, CNN Washington (CNN) — Earlier this week, some officials at the Federal Reserve said they’re no longer worried about inflation reaccelerating, after data showed that progress stalled in the first quarter. Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs. But now Wall Street,

By Samantha Delouya and Clare Duffy, CNN (CNN) — Nvidia announced a 10-for-1 stock split on Wednesday, making buying shares in the red-hot semiconductor company more accessible for individual investors. Five years ago, an investor could have purchased Nvidia stock for less than $50 a share. But since then, the stock has exploded more than

By Samantha Kelly, CNN (CNN) — Microsoft’s buzziest new AI feature is raising concerns that it could potentially be misused in the wrong hands. This week, the company showed off a new tool called Recall for Windows computers that acts as a personal “time machine,” allowing users to quickly pull up anything that’s ever been

By Brian Fung, CNN Washington (CNN) — The Federal Communications Commission is taking initial steps toward new rules that could require political ads on TV and radio to include disclaimers about the use of artificial intelligence. On Wednesday, FCC Chairwoman Jessica Rosenworcel called on other agency commissioners to support such regulations amid growing fears that

By Allison Morrow, CNN New York (CNN) — Prison officials began transferring former crypto mogul Sam Bankman-Fried to a new facility early Wednesday, removing him from the Brooklyn, New York, jail where he’s resided for the past nine months, a spokesperson for Bankman-Fried said. It wasn’t immediately clear where he was being transferred, but the

By Krystal Hur, CNN New York (CNN) — BuzzFeed’s stock is soaring after former Republican presidential candidate Vivek Ramasamy revealed that he’s taken an activist stake in the beleaguered media company in a bid to adjust the firm’s strategy. Shares of BuzzFeed gained about 20% on Wednesday after a securities filing revealed that Ramaswamy has

By Brian Fung, CNN (CNN) — TikTok is planning to lay off large swaths of its operations and marketing workforce, current employees briefed on the plans told CNN. The global layoffs are expected to hit teams that handle user support and communications, as well as content and marketing. TikTok’s current global user operations team will

By Bryan Mena, CNN Washington (CNN) — Rising US home prices are heightening the housing affordability crisis for Americans, especially first-time buyers. The median price of a previously owned home in the US grew 5.7% in April from a year earlier to $407,600, according to data from the National Association of Realtors released Wednesday. That