CNN – Business/Consumer

By Hanna Ziady, CNN London (CNN) — The UK government has moved to take control of the country’s second biggest city, Birmingham, after the local council effectively declared itself bankrupt earlier this month. In a letter to the council Tuesday, the government proposed appointing commissioners to take charge of the daily running of the local

By Olesya Dmitracova, CNN London (CNN) — Fraudsters have robbed Europe’s largest copper producer of €185 million ($198 million) worth of the metal, possibly with the help of insiders, the company said Tuesday. After carrying out an extraordinary inventory on August 31, Germany’s Aurubis found that it had paid inflated invoices for shipments of scrap

By Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve is expected to hold its benchmark lending rate steady this week as it waits for more data to understand how previous rate hikes are affecting the US economy. The central bank raised rates to a 22-year high in July. At the conclusion of its

By Allison Morrow, CNN New York (CNN) — Bankrupt crypto exchange FTX is suing founder Sam Bankman-Fried’s parents, accusing them of siphoning millions of dollars in company funds to enrich themselves and their “pet causes.” The lawsuit aims to recover funds that the company claims were “fraudulently transferred and misappropriated” by Bankman-Fried’s parents. Joe Bankman

CNN By Samantha Murphy Kelly, CNN Video by John General & Katherine Jennings, CNN (CNN) — The new iPhone 15 Pro lineup offers the typical slate of new features designed to persuade customers to upgrade: They’re slimmer and thinner than last year’s crop. The new cameras are professional-grade and the switch to USB-C charging will

By Samantha Murphy Kelly, CNN Video by John General & Katherine Jennings, CNN (CNN) — The new iPhone 15 Pro lineup offers the typical slate of new features designed to persuade customers to upgrade: They’re slimmer and thinner than last year’s crop. The new cameras are professional-grade and the switch to USB-C charging will make

By Anna Bahney, CNN Washington, DC (CNN) — US home building sank in August, dropping 11.3% from July levels, as mortgage rates stayed elevated amid lingering inflation. Housing starts, a measure of new-home construction, dropped to a seasonally adjusted annual rate of 1.283 million last month, well below expectations of 1.44 million, according to data

By Jordan Valinsky, CNN New York (CNN) — Instacart started trading Tuesday, opening at $42 per share and propelling the grocery-delivery company to a market valuation of just over $11 billion. Trading under the ticker CART, Instacart had set a price of $30 per share for its initial public offering. Instacart’s current valuation is a

By Michelle Toh, CNN Hong Kong (CNN) — One of China’s leading property developers, Sunac, has filed for bankruptcy protection in the United States, shortly after winning approval from its creditors to restructure nearly $10 billion worth of debt. The company filed a petition for Chapter 15 protection with the US Bankruptcy Court for the

By Parija Kavilanz, CNN New York (CNN) — Crayola, a name synonymous with vibrantly colored crayons for more than a century, is going into the flower business. The crayon maker, a subsidiary of Hallmark Cards, on Tuesday announced the launch of Crayola Flowers, an online flower shop selling bright bouquets and boxed flowers. But there’s

By Clare Sebastian and Niamh Kennedy, CNN London (CNN) — YouTube has decided to temporarily prevent comedian Russell Brand from making money from his videos following multiple allegations of rape and sexual assault against him. In a statement to CNN Tuesday, YouTube said it had “suspended monetization on Russell Brand’s channel” for violating its Creator

CNN By Clare Sebastian and Niamh Kennedy, CNN London (CNN) — YouTube is temporarily preventing comedian Russell Brand from making money from his videos following multiple allegations of rape and sexual assault against him. In a statement to CNN Tuesday, YouTube said it had “suspended monetization on Russell Brand’s channel” for violating its Creator Responsibility

By Clare Duffy, CNN New York (CNN) — Google’s Bard artificial intelligence chatbot is evolving. The company on Tuesday announced a series of updates to Bard that will give the chatbot access to Google’s full suite of tools — including YouTube, Google Drive, Google Flights and others — to assist users in a wider variety

By Michelle Toh, CNN Hong Kong (CNN) — Starbucks says it has poured more than $200 million into a new campus in China, in a sign of how the Chinese consumer remains crucial to the global coffee chain despite a major economic slowdown. The beverage giant opened the massive facility in eastern China on Tuesday

By Laura He, CNN Hong Kong (CNN) — China wooed a number of top Western companies on Monday with renewed promises to open up its financial industry and create a more welcoming environment as Beijing tries to reverse a record low in foreign investment in the face of mounting economic challenges. Pan Gongsheng, governor of

By Chris Isidore, CNN (CNN) — The union representing Canadian autoworkers at Ford has put its strike plans there on hold, keeping its more than 5,000 members on the job at three plants there for at least another day, and providing some good news for an industry dealing with unprecedented labor disruptions. Lana Payne, president

By Marshall Cohen, CNN (CNN) — Dominion Voting Systems’ $1.6 billion defamation lawsuit against Newsmax over the right-wing network’s airing of 2020 election lies is scheduled to go to trial in late September 2024, a Delaware judge decided. Dominion sued Newsmax in the wake of the 2020 election over the network’s on-air promotion of the

By Catherine Thorbecke, CNN (CNN) — Alyssa Henry, the CEO of Square – a unit of Jack Dorsey’s fintech company, Block – will leave her post at the company next month. Henry, who has worked at Block for over nine years, will step down as chief executive of Square on October 2, according to a

By Bryan Mena, CNN Washington, DC (CNN) — In the event of a US government shutdown, the Bureau of Labor Statistics says it will stop releasing data, including key figures on inflation and unemployment. A lack of crucial government data would make it difficult for investors and the Federal Reserve to interpret the US economy.

By Catherine Thorbecke, CNN (CNN) — iPhone users: Today’s the day to update to Apple’s latest operating system, iOS17, and unlock a slew of new features that promise to make the iPhone experience more personal and intuitive. Apple first teased iOS17 at its annual Worldwide Developer Conference in early June, but you may have missed