Money

By Allison Morrow and Sabrina Souza, CNN New York (CNN) — Attorneys gave their closing arguments Wednesday to the jurors who will decide Sam Bankman-Fried’s fate, offering two diametrically different versions of the collapse of his crypto empire. US Assistant Attorney Nicholas Roos presented the government’s view that Bankman-Fried is guilty of stealing money and

By Nathaniel Meyersohn, CNN New York (CNN) — The United Auto Workers hopes the significant wage and benefit gains in tentative agreements with Ford, General Motors and Stellantis, the parent of Jeep and Chrysler, will spark unionization efforts throughout the US auto industry. But the UAW’s ambitious plans to organize Tesla and other non-union automakers

By Matt Egan, CNN New York (CNN) — Senate Majority Leader Chuck Schumer, Sen. Elizabeth Warren and nearly two dozen other Democrats are demanding federal regulators probe the mega takeovers inked last month by ExxonMobil and Chevron. In a letter on Wednesday to the Federal Trade Commission, the lawmakers warned the blockbuster Big Oil deals

By Jordan Valinsky, CNN New York (CNN) — Former ABC News anchors T.J. Holmes and Amy Robach are on-air partners again, this time with a new podcast. The pair are joining iHeartMedia to host a new “highly anticipated” weekly podcast, called “Amy & T.J.” beginning December 5, the company announced Wednesday. It’s the “first time

By Brian Fung, CNN Washington, DC (CNN) — Online dating giant Match Group has dropped a closely watched antitrust lawsuit against Google’s app store, the two companies said Tuesday, days before a trial set to begin in San Francisco federal court. The settlement between the search giant and the owner of sites such as Match,

By Jordan Valinsky, CNN New York (CNN) — For fervent fans of Starbucks, the holidays officially kick off this week with the arrival of its seasonal cups. Beginning Thursday, customers at its US locations will have their hot drinks served in one of four festive cups that are “clad in holiday red and Starbucks greens

By Parija Kavilanz CNN New York (CNN) — Something wild has happened with turkey prices that’s going to make the cost of cooking the Thanksgiving meal more palatable to families on a tight budget. “There’s been a big collapse in retail prices for turkey,” said Michael Swanson, chief agriculture economist with Wells Fargo Agri-Food Institute.

By Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve held interest rates steady Wednesday for the second consecutive meeting, leaving the central bank’s benchmark lending rate at its highest level in 22 years. Economists and financial markets had expected the pause in the Fed’s aggressive rate-hiking campaign, after several Fed officials signaled they anticipate a further slowing of the US economy as it

By Jordan Valinsky, CNN New York (CNN) — Magnolia Bakery’s famous banana pudding is being whipped up in a new version that triggers elation in a different kind of way. The New York City–based dessert maker is transforming some of its famous treats into THC-infused edibles, including its banana pudding and red velvet cake. The

By Oliver Darcy, CNN (CNN) — A top news media trade group is calling out A.I. technology companies for scraping news material to train their chatbots. The News Media Alliance, which represents nearly 2,000 outlets in the U.S., published research Tuesday that found developers of generative artificial intelligence systems, such as OpenAI and Google, “have

By Hanna Ziady, CNN London (CNN) — WeWork’s shares plunged 37% in pre-market trading Wednesday, following news reports that the beleaguered company plans to file for bankruptcy as early as next week as its losses mount. The SoftBank-backed flexible workspace provider is considering filing for Chapter 11 bankruptcy protection in New Jersey, the Wall Street

By Michelle Toh, CNN Hong Kong (CNN) — Warren Buffett’s decision to invest billions of dollars into Japan was “a no-brainer” that felt like a gift from God, according to his business partner. “It was awfully easy money,” Charlie Munger, Buffett’s longtime lieutenant and vice chair of Berkshire Hathaway (BRKA), said in an interview with

By Elisabeth Buchwald, CNN Washington, DC (CNN) — A Missouri jury on Tuesday found the National Association of Realtors, a real estate industry trade group, and some residential brokerages liable for nearly $1.8 billion in damages after determining they conspired to keep commissions for home sales artificially high. The lawsuit covered home sales that took

By Jeanne Sahadi, CNN New York (CNN) — As part of its ongoing effort to make it easier for Americans to amass retirement savings and protect consumers from having to pay “junk” fees, the Biden Administration on Tuesday released a proposed rule that would require any financial adviser, broker or insurance agent who sells retirement

By Catherine Thorbecke, CNN New York (CNN) — Bill Gates’ former assistant at Microsoft is now the fifth-richest person in the world, per Bloomberg’s tally, and only one spot behind Gates on the real-time list of the world’s richest people. Steve Ballmer, who joined Microsoft as its 24th-ever employee in 1980, has seen his wealth

By Elisabeth Buchwald, CNN New York (CNN) — Americans are losing confidence about the economic outlook. For the third month in a row, the Conference Board’s Consumer Confidence Index fell — dropping to 102.6 in October from an upwardly revised 104.3 in September. The index is at its second-lowest level this year, landing a hair

By Anna Bahney, CNN Washington, DC (CNN) — US home prices continued to rise in August, hitting a new record high and marking the seventh consecutive month of increases. Even as mortgage rates topped 7% in August, historically low inventory continued to push up the price of a home. Prices rose 0.9% in August from

By Bryan Mena, CNN Washington, DC (CNN) — Total compensation paid to US workers grew at a faster pace than expected last quarter, pointing to ongoing momentum in the job market. The Employment Cost Index rose 1.1% in the third quarter, the Labor Department reported Tuesday. That’s a faster pace than the 1% gain registered

By Chris Isidore, CNN New York (CNN) — The longest US auto strike in 25 years is nearly over. Maybe. The United Auto Workers union announced a tentative agreement on a contract with General Motors Monday night. That followed similar announcements Saturday night at Stellantis, and last Wednesday at Ford. The picket lines are coming

By Hanna Ziady, CNN London (CNN) — The euro area economy risks falling into recession later this year after official data Tuesday showed that output shrank slightly in the third quarter. Gross domestic product across the 20 countries that use the euro fell 0.1% in the July-to-September quarter compared with the previous three months, according