CNN – Business/Consumer

By Ramishah Maruf, CNN New York (CNN) — US prosecutors submitted a letter to a New York federal court Friday saying that they don’t plan to proceed with a second trial against Sam Bankman-Fried, the disgraced founder of crypto exchange FTX. Bankman-Fried was found guilty in November on seven counts of fraud and conspiracy related

By Matt Egan, CNN New York (CNN) — Harvard was due to respond by Friday to a demand from lawmakers for wide-ranging documents linked to the plagiarism controversy swirling around embattled President Claudine Gay. But it has been given more time to turn over its information. The university’s expected response to the House Education and Workforce

By Nicole Goodkind and Elisabeth Buchwald, CNN New York (CNN) — Wall Street hit record high after record high in 2023, a year investors had feared would be a washout as elevated interest rates threatened to grind the economy to a halt. But a resilient job market, robust consumer spending and easing inflation kept investor confidence high — helping

By Anna Cooban, CNN London (CNN) — There was one conspicuous no-show at this year’s global stock market party: China. While 2023 has been the best year for global stocks since before the pandemic, with markets in the United States, Europe, Japan and India enjoying strong rallies, investors have soured on China. A string of

By Matt Egan, CNN New York (CNN) — The Harvard brand, one of the most prestigious among all universities, took nearly 400 years to build. But it’s taken just three months to call that brand very much into question. The university’s initial response to the October 7 terror attack on Israel was criticized, even by

By Melissa Alonso, CNN (CNN) — A popular line of portable blenders could pose a danger to customers, and the brand is asking owners to stop using them immediately, because they can catch fire or slash people. BlendJet is voluntary recalling 4.8 million of its BlendJet2 blenders, according to statements from the company and U.S. Consumer Product Safety Commission. The

By Jordan Valinsky, CNN New York (CNN) — Nearly nine months after Bud Light was front and center in one of the biggest misfires in advertising history, sales of the beer are still down 30% weekly compared to the same time a year ago. It wasn’t supposed to go like that. The year kicked off

By Anna Cooban, CNN London (CNN) — What began nine weeks ago with a group of mechanics in Sweden demanding that Tesla agree to collective bargaining has evolved into a broader fight for the Nordic region’s way of work and life. The stakes are high, too, for the carmaker and its CEO Elon Musk, the

By Chris Isidore, CNN New York (CNN) — For some top executives, 2023 is a year they would rather forget. Some of their companies lost billions of dollars. Some have lost their jobs. And others badly damaged their reputations and face even more trouble ahead in 2024. CNN Business ended the year celebrating Microsoft’s Satya

By Michelle Toh, CNN Hong Kong (CNN) — Huawei, the tech giant which has been a flashpoint in the escalating rivalry between Washington and Beijing, says it is “back on track” with a strong 2023. The Shenzhen-based conglomerate said Friday it expects to bring in more than 700 billion yuan ($99 billion) in revenue in 2023, partly

By Ramishah Maruf, CNN New York (CNN) — Regulators have issued a recall for high-powered magnetic balls after the US Consumer Product Safety Commission issued several warnings for the toy kits, citing the risk of injury or even death. Walmart recalled the “Relax 5mm Science Kit, Large Hematite Magnets Magnetic Stones Building Blocks,” sold exclusively

By Ramishah Maruf, CNN New York (CNN) — Francoise Bettencourt Meyers, the L’Oreal heiress and richest woman in the world, has become the first woman to hold a $100 billion fortune, Bloomberg reported Thursday. The Bloomberg Billionaire’s Index, which reflects changes as of 5 pm ET of the previous trading day, lists Bettencourt Meyers as

By Gregory Wallace, CNN (CNN) — Boeing has asked airlines to inspect all of their 737 Max jets for a potential loose bolt in the rudder system after an airline discovered a potential problem with a key part on two aircraft. An unnamed international airline found a bolt with a missing nut in a rudder-control

By Elisabeth Buchwald and Anna Bahney, CNN New York (CNN) — US mortgage rates continued to drop this week, which extends the good news for home buyers who have been facing the least affordable housing market since the 1980s. After dropping under 7% in early December for the first time since mid-August, rates fell again

By Nathaniel Meyersohn, CNN New York (CNN) — Tipping culture has changed a lot over the last few years, and many Americans are confused about what to do. Seventy-two percent of people say that tipping is expected in more places today than it was five years ago, according to Pew. But only about a third

By Elisabeth Buchwald and Anna Bahney, CNN New York (CNN) — In a miserable year for home sales, sometimes no news is good news. Following a steep decline in October, pending home sales in the United States remained at a 20-year low in November, according to a report released Thursday. Meanwhile, the pending home sales

By Jordan Valinsky and David Goldman, CNN New York (CNN) — Amazon emailed its millions of Prime members this week, alerting them to an upcoming change to the streaming service that will leave customers with two options: pay more or watch ads. Starting January 29, Prime Video will feature “limited” advertisements, Amazon said in its

By Jeanne Sahadi, CNN New York (CNN) — You may think that improving your financial life is simply a matter of taking unpleasant but necessary steps: Curb spending. Cut debt. Make more. Boost savings. But, in real life, if your money resolutions for 2024 are just a long list of financial chores that you know

By Michelle Toh, CNN Hong Kong (CNN) — Xiaomi has unveiled its first electric car, just days after Huawei launched another one of its own, showing that the efforts of Chinese tech giants to join the electric vehicle race are beginning to bear fruit. Xiaomi unveiled the SU7 sedan Thursday, two days after Huawei launched

CNN By Anna Cooban, CNN London (CNN) — Sales of vinyl records in the United Kingdom have surged this year to hit the highest level since 1990 — with a little help from Taylor Swift. Vinyl sales have jumped 11.7% so far in 2023 to 5.9 million units, according to preliminary figures released Thursday by