CNN – Business/Consumer

Philip Wang Alvin Chau, one of Macao’s high-profile gambling promoters, has been sentenced to 18 years in prison for racketeering and illegal gambling activities, the city’s public broadcaster TDM reported Wednesday. Chau, 48, was the former chairman of Suncity Group, a Macao-based company that helped promote gambling by lending credit to high rollers. Macao is

By Hanna Ziady, CNN South Africa’s President Cyril Ramaphosa was forced this week to cancel a trip to Davos by an escalating energy crisis that is inflicting rolling blackouts on the continent’s most developed economy. Ramaphosa swapped his trip to the World Economic Forum in Switzerland for emergency meetings on the “ongoing energy crisis,” his

By Vanessa Yurkevich, CNN Women living in states that restrict or ban abortion face greater economic insecurity than those living in states where they have access, new research finds. Since the nearly seven months since the Supreme Court overturned Roe v. Wade, half of all states — 26 in total — have implemented new abortion

By Laura He, CNN The yen plunged on Wednesday after the Bank of Japan decided to maintain its ultra-easy monetary policy, defying market expectations that rising inflation could force the central bank to move away from low interest rates. The BOJ kept its yield curve control (YCC) targets unchanged as it concluded a two-day policy

By Pete Muntean and Gregory Wallace, CNN Investigators are probing the narrowly avoided catastrophic collision between two airliners at New York’s JFK airport Friday evening and are already conducting interviews, according to the National Transportation Safety Board. The incident involved an American Airlines 777 that improperly crossed an active runway at the busy airport. “S**t!”

By Jordan Valinsky, CNN Ousted Disney chief executive Bob Chapek is set to receive a hefty paycheck following his exit. The Walt Disney Company said the former CEO, who took over in February 2020 after longtime CEO Bob Iger retired, is eligible to take home a severance pay package worth roughly $20 million, according to

By Chris Isidore, CNN A four-year old tweet from Elon Musk has the Tesla CEO back in court starting Tuesday. Musk, Tesla and other Tesla directors are facing a shareholder lawsuit over his now-infamous 2018 tweet, which said that he was thinking about taking Tesla private at a price of $420 a share. If he

By Julia Horowitz, CNN Bullishness about the global economy has been in short supply among business leaders in recent months, with fears of recession clouding the outlook and restraining investment. Now, cautious optimism is peeking through. That’s thanks in large part to China, whose sudden removal of strict coronavirus restrictions late last year is expected

By Anna Cooban, CNN Europe is scrambling to buy diesel fuel from Russia before a ban on imports comes into force in early February, but the frantic stockpiling is unlikely to prevent a new price shock for truckers, drivers and businesses. In the first two weeks of January, European countries snapped up almost 8 million

By Peter Valdes-Dapena, CNN Exactly 70 years after the very first Chevrolet Corvette was unveiled in January, 1953, General Motors revealed the first Corvette with an electric motor on Tuesday. The front wheels of the 2024 Corvette E-Ray are powered by a 160 horsepower electric motor, while a 495 horsepower V8 gasoline engine powers the