Money

By Oliver Darcy, CNN Shou Zi Chew is getting ready for his inaugural trip to Congress. The TikTok chief executive has, for the last week, participated in near-daily, multi-hour prep sessions, CNN has learned, as he readies to face a bipartisan grilling on Thursday from lawmakers on a number of issues, most notably data privacy

By Matt Egan, CNN Lael Brainard, President Joe Biden’s top economic adviser, met with JPMorgan Chase CEO Jamie Dimon and other leading Wall Street CEOs on Wednesday, people familiar with the matter told CNN. The meeting comes as the banking industry remains in turmoil following the biggest bank failures since 2008. Brainard, the director of

By Allison Morrow, CNN In congressional testimony earlier this month, Fed Chairman Jerome Powell told lawmakers that the central bank would likely need to raise interest rates higher and possibly faster than previously expected. The message was clear: Buckle up, America — we are going to keep raising rates and get inflation down, come hell

By David Goldman, CNN The Securities and Exchange Commission on Wednesday charged Lindsay Lohan, Jake Paul and several other celebrities with failing to disclose that they were paid to promote crypto. The celebrities agreed to pay $400,000, including fines, and return what they were paid for the promotion. Lohan was paid $10,000 to promote Tronix

By Nicole Goodkind, CNN The Federal Reserve raised interest rates by a quarter point on Wednesday as it attempts to fight stubbornly high inflation while addressing risks to financial stability. Investors and economists had widely anticipated the quarter-point increase despite the meltdown in the banking sector. Still, Federal Reserve Chairman Jerome Powell and policymakers entered

By Ramishah Maruf, CNN Right now, $250,000 seems to be the number on everyone’s minds. That’s the Federal Deposit Insurance Corporation’s standard limit, meaning any bank deposits up to that amount are protected by the independent government agency. Before the recent collapse of Silicon Valley Bank and Signature Bank, most Americans were not worried about

By Oliver Darcy, CNN Business DirecTV said Wednesday that it has reached a multi-year distribution agreement with Newsmax, putting to end a bitter carriage dispute that waded into political waters and saw the right-wing channel and satellite carrier savage one another in public. “This resolution with Newsmax, resolving an all-too-common carriage dispute, underscores our dedication

By Chris Isidore, CNN Norfolk Southern CEO Alan Shaw returned to Capitol Hill Wednesday facing pressure to support rail safety legislation proposed in the wake of his railroad’s massive toxic spill from a February 3 derailment in East Palestine, Ohio. Although Shaw’s prepared testimony released in advance of the hearing promised to take steps to

By Lucy Kafanov, CNN Situated in the Sonoran Desert near the Arizona-California border is the tiny rural town of Cibola — home to roughly 300 people, depending on the season. Life here depends almost entirely on the Colorado River, which nourishes thirsty crops like cotton and alfalfa, sustains a nearby wildlife refuge and allows visitors