Money

By Bryan Mena, CNN Washington, DC (CNN) — As the Federal Reserve starts its March policy-making meeting on Tuesday, interest rates remain at a 23-year high, yet unemployment is low, stocks have reached repeated record highs and there’s no recession in sight. Economists are baffled. Whenever the Federal Reserve lifts rates to battle high inflation,

By Jordan Valinsky, CNN New York (CNN) — Coca-Cola, often criticized for being one of the world’s top plastic polluters, is making changes to the bottles of its namesake soda as part of a years-long initiative to be more environmentally friendly. Arriving at US retailers this week, all versions of Coca-Cola (i.e. zero sugar, diet,

CNN By Matt Egan, CNN New York (CNN) — Jan Hatzius predicted a soft landing in late 2022, back when many feared a recession was inevitable. The Goldman Sachs chief economist made a name for himself by making the opposite call in 2008, warning that toxic mortgages would ignite a recession. Now, Hatzius is offering

By Matt Egan, CNN New York (CNN) — Jan Hatzius predicted a soft landing in late 2022, back when many feared a recession was inevitable. The Goldman Sachs chief economist made a name for himself by making the opposite call in 2008, warning that toxic mortgages would ignite a recession. Now, Hatzius is offering a

By Laura He, CNN Hong Kong (CNN) — Chinese regulators have accused Evergrande and its founder of inflating revenues by $78 billion, putting the insolvent property developer at the heart of the country’s biggest ever financial fraud case. The China Securities Regulatory Commission (CSRC) slapped a penalty of 4.175 billion yuan ($580 million) on Hengda

By Jeanne Sahadi, CNN New York (CNN) — Last year wasn’t the most lucrative for Wall Street bankers, but their bonus payouts still easily trounced US median household income. The average Wall Street bonus for 2023 was $176,500, according to estimates that will be released Tuesday morning by New York State Comptroller Thomas DiNapoli. That’s

By Laura He, CNN Hong Kong (CNN) — Japan has ended its negative interest rate policy, marking a historic shift away from an aggressive monetary easing program that was implemented years ago to fight chronic deflation. As part of the decision, the Bank of Japan (BOJ) raised interest rates for the first time in 17

By Peter Valdes-Dapena, CNN (CNN) — Investigators with the National Highway Traffic Safety Administration and National Transportation Safety Board are investigating a fatal crash involving a Ford Mustang Mach-E equipped with advanced driving assistance technology. The Mach-E drove into the back of a Honda CR-V that was stopped in the road. “A team of investigators

By Sean Lyngaas, CNN (CNN) — The health insurance billing system in the United States is stabilizing following an unprecedented cyberattack on a key company last month, but smaller health clinics may still need help to ensure they can stay in business, senior Biden administration officials said Monday after meeting with health care executives. Ninety-five

By Chris Isidore, CNN New York (CNN) — Trouble and turmoil continue at rental car company Hertz. The company, which announced in January it was selling 20,000 of the electric vehicles in its fleet, or about a third of the EVs it owned, is now replacing the CEO who helped build up that fleet, giving

By Samantha Murphy Kelly, CNN (CNN) — ​​ Apple appears to be finally raising the curtain on some of its AI efforts. Apple researchers say they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the

By Eva Rothenberg, CNN New York (CNN) — MrBeast, the popular video creator known for big philanthropic gestures and extreme stunts, is making the leap from YouTube to Amazon Prime with a new reality competition show, Amazon announced Monday in a news release. The show, called “Beast Games,” will be released on Prime Video and

By Clare Duffy, CNN New York (CNN) — Elon Musk said he is “almost always” sober during his late-night — or, in some cases, very early morning — posting sessions on his social media platform, X. The billionaire Tesla CEO’s comment was made in an interview with journalist Don Lemon, during which Musk discussed his use

WCCO, CNN By Clare Duffy, CNN New York (CNN) — Elon Musk said he is “almost always” sober during his late-night — or, in some cases, very early morning — posting sessions on his social media platform, X. The billionaire Tesla CEO’s comment was made in an interview with journalist Don Lemon, during which Musk discussed

By Matt Egan, CNN New York (CNN) — Gas price inflation is back. For the first time since late last year, prices at the pump are now higher on a year-over-year basis. It’s a trend that industry experts expect to continue in the coming weeks and months, especially if Russian oil facilities continue to get

By Chris Isidore, CNN New York (CNN) — The United Auto Workers union’s effort to organize the American plants of foreign automakers just took a major step forward as it filed for a representation election for the more than 4,000 hourly workers at the Volkswagen plant in Chattanooga, Tennessee. If the union were to win

By Oliver Darcy, CNN New York (CNN) — Sports Illustrated isn’t shutting down, after all. The iconic sports magazine is set to get new life under a publishing deal announced Monday by Authentic Brands Group, which owns the magazine’s intellectual property rights. The news, first reported by The New York Times, caps a tumultuous several months

By Clare Duffy, CNN New York (CNN) — Starting Monday, YouTube creators will be required to label when realistic-looking videos were made using artificial intelligence, part of a broader effort by the company to be transparent about content that could otherwise confuse or mislead users. When a user uploads a video to the site, they

By David Goldman, CNN (CNN) — The way Americans buy and sell homes is about to get turned on its head. An earth-shattering, multibillion-dollar antitrust ruling against the National Association of Realtors late last year led to a settlement on Friday that will loosen the powerful trade group’s stranglehold on America’s housing market. The $418

By Jordan Valinsky, CNN New York (CNN) — Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in fresh funding that helps reduce