By Brian Fung, CNN Ellen Min doesn’t go to the grocery store anymore. She avoids bars and going out to eat with her friends; festivals and community events are out, too. This year, she opted not to take her kids to the local St. Patrick’s Day parade. Min isn’t a shut-in. She’s just a Korean
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By Heather Chen, CNN The founder of one of the world’s biggest dumpling empires has died. Yang Bing-yi, who set up the Taiwanese restaurant chain Din Tai Fung, “passed away peacefully” at the age of 96, the company said in a statement Saturday. It did not mention the cause of death but said that private
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By Chris Isidore, CNN The Los Angeles school strike that kept about a half-million students out of classrooms for three days this past week has ended, but that happened even before the union announced a tentative labor contract late Friday. Still, the union’s success is another sign of why short-term strikes like it are surging
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Reuters Deposits at small US banks dropped by a record amount following the collapse of Silicon Valley Bank on March 10, data released on Friday by the Federal Reserve showed. Deposits at small banks fell $119 billion to $5.46 trillion in the week ended March 15, which was more than twice the previous record drop
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By Ramishah Maruf, CNN TikTok creators have had enough of Congress seemingly not understanding how the internet works. What happened: On Thursday, TikTok CEO Shou Chew testified before the House Committee for Energy and Commerce, where he was peppered with questions about concerns over the popular app’s potential national security threats and its connections to
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By Krystal Hur, CNN Markets seesawed severely this week when two of the US economy’s most prominent leaders gave seemingly contradictory statements on the health of the banking sector. Expect more turbulence ahead. Fresh off of the Federal Reserve’s decision on Wednesday to hike interest rates by a quarter point, Fed Chairman Jerome Powell said
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By Danielle Wiener-Bronner, CNN For decades, Girl Scouts has used cookie sales to raise funds and teach scouts about entrepreneurship. This year, thanks to the Raspberry Rally cookie, members got a painful lesson in what can happen when high demand meets limited supply. The much-hyped Rally, a raspberry-flavored spin on the Thin Mint, was always
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By Nathaniel Meyersohn, CNN More stores now offer customers the option to tip, from coffee shops to ice cream stores. Around 48% of purchases at fast food restaurants, as well as coffee shops, included a tip during the final quarter of 2022, according to data released this month from Toast, a restaurant management software company.
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By Kathleen Magramo and Jake Kwon, CNN Apple CEO Tim Cook gave a show of support for China as a market and manufacturing base during a visit to Beijing Saturday, even as trade and tech sector tensions escalate between the United States and the world’s second-largest economy. Apple and China had “grown together” over the
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By Jeanne Sahadi, CNN The Federal Reserve on Wednesday raised its key interest rate for the ninth time since last March. Each time the Fed raises the rate, lending rates that banks charge their customers tend to follow. That means consumer debt — especially variable-rate credit card debt — will get more expensive. “[T]he average
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By Reuters Intel co-founder Gordon Moore, a pioneer in the semiconductor industry whose “Moore’s Law” predicted a steady rise in computing power for decades, died Friday at the age of 94, the company announced. Intel and Moore’s family philanthropic foundation said he died surrounded by family at his home in Hawaii. Co-launching Intel in 1968,
Continue Reading By Reuters Intel co-founder Gordon Moore, a pioneer in the semiconductor industry whose “Moore’s Law” predicted a steady rise in computing power for decades, died Friday at the age of 94, the company announced. Intel and Moore’s family philanthropic foundation said he died surrounded by family at his home in Hawaii. Co-launching Intel in 1968,
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By Michelle Toh, CNN Travelers across Asia Pacific will likely continue to fork out more than usual for flights this year, even as planes return to the skies at a rate not seen since the start of the pandemic. Airfares within the region were 33% higher in February than the same month in 2019, compared
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By Samantha Murphy Kelly, CNN Business On the eve of a high-profile TikTok hearing this week, the company shared that it now has more than 150 million US monthly active users. But after the heated, hours-long hearing, filled with lawmakers telling TikTok’s CEO the app should be banned, some may now be wondering where all
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By Brian Fung, CNN The US government is tracking a growing number of foreign-linked business transactions that pose potential data risks to national security similar to those raised by TikTok, Treasury Secretary Janet Yellen told lawmakers Thursday. At a House Appropriations Committee hearing, Yellen said regulators charged with screening foreign investment deals for national security
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By Hanna Ziady and Olesya Dmitracova, CNN A nationwide strike in France to protest a rise in the retirement age drew more than a million people onto the streets on Thursday before ending in violent clashes with police in Paris and other cities. The protest followed a strike of a similar magnitude in January and
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By Matt Egan, CNN The Federal Reserve faced a particularly vexing decision this week: Should it raise interest rates during a bank crisis? For Tom Barkin, the decision wasn’t especially challenging. Inflation, he says, remains public enemy No. 1. “Inflation is high. Demand hadn’t seemed to come down. And so, the case for raising was
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By Alicia Wallace, CNN One of the biggest unknowns since the Federal Reserve started its historic rate-hiking campaign has been how many jobs could be lost from the central bank’s deliberate effort to slow down the US economy. So far, the labor market has stayed white hot, with unemployment hovering at a half-century low. But
Continue Reading By Alicia Wallace, CNN One of the biggest unknowns since the Federal Reserve started its historic rate-hiking campaign has been how many jobs could be lost from the central bank’s deliberate effort to slow down the US economy. So far, the labor market has stayed white hot, with unemployment hovering at a half-century low. But
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By Ivana Kottasová, CNN When EU lawmakers voted to ban the sale of new combustion engine cars in the bloc by 2035, it was a landmark victory for climate. In February, the European Parliament approved the law. All that was needed was a rubber stamp from the bloc’s political leaders. Then Germany changed its mind.
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