Money

By Allison Morrow, CNN New York (CNN) — Sam Bankman-Fried was found guilty on Thursday for his role in the collapse of crypto exchange FTX. After 15 days of testimony and about four and a half hours of deliberations, jurors returned a verdict that found him guilty on seven counts of fraud and conspiracy. Bankman-Fried

By Chris Isidore, CNN New York (CNN) — The first United Auto Workers union vote by rank-and-file members was 82% in favor of the tentative labor deal that ended the union’s strike at Ford last week, an early sign that the recent labor deals will be able to get the membership support they need. The

By Samantha Delouya, CNN New York (CNN) — As prescriptions for weight-loss and diabetes drugs skyrocket, so too has revenue for drugmakers Novo Nordisk and Eli Lilly. On Thursday, Novo Nordisk, the Denmark-based company behind Ozempic and Wegovy, reported a 29% increase in sales to $8.4 billion for the third quarter. Eli Lilly, which makes

By Jennifer Korn, CNN (CNN) — Elon Musk declared artificial intelligence “one of the most disruptive forces in history” in a sit down conversation with British Prime Minister Rishi Sunak that dove into the dangers and opportunities of AI on Thursday, capping off the UK’s inaugural AI Safety Summit. “AI will be a force for

By Nicole Goodkind, CNN New York (CNN) — As financial pressures mount on Walgreens, the nation’s largest drugstore chain, the company said it will cancel bonuses this year for its corporate staff and slash bonuses sharply for its store and pharmacy managers. The cutback comes as the company contends with both disappointing quarterly earnings and

By Clare Duffy, CNN New York (CNN) — Apple on Thursday posted its fourth consecutive quarter of year-over-year sales declines as the iPhone maker continues to struggle with slower device sales amid an uncertain economic environment. The company reported $89.5 billion in sales for the three months ended September 30, down 1% from the same

By Allison Morrow, CNN New York (CNN) — Sam Bankman-Fried’s fate is now officially in the hands of a jury of his peers. Over the past four weeks in a Manhattan federal court, the 12 jurors and five alternates have sat through more than 60 hours of testimony about the rise and fall of a

By Brian Fung, CNN Washington (CNN) — When the Federal Trade Commission and 17 states sued Amazon for antitrust violations this fall, a heavily redacted portion of the lawsuit referenced “Project Nessie,” a secret algorithmic pricing tool. The complaint offered few details on the program aside from disclosing its existence. Now, however, a newly unsealed

By Nicole Goodkind, CNN New York (CNN) — US stocks soared higher again on Thursday as investors bet that the Federal Reserve’s current round of economically painful rate hikes might be over. The Dow rose 565 points, or 1.7%. The S&P 500 was 1.9% higher and the Nasdaq Composite was up 1.8%. Both the S&P

By Nathaniel Meyersohn, CNN New York (CNN) — Retailers are projecting slower growth this holiday shopping season as inflation, higher borrowing costs, and the resumption of student loan repayments cause many consumers to pull back. Holiday sales will increase by up to 4% this year, not adjusted for inflation, the National Retail Federation said Thursday

By Anna Bahney, CNN Washington, DC (CNN) — Bob Goldberg, chief executive officer of the National Association of Realtors, the nation’s largest trade association, is stepping down, the organization announced Thursday. Earlier this week, a federal jury in Missouri found NAR and two brokerages conspired to keep real estate agent commissions artificially high and determined

By Jeanne Sahadi, CNN New York (CNN) — For those who are able or wish to, you will be allowed to sock away even more money into a 401(k) or IRA next year. The IRS this week announced it was raising the 401(k) contribution limit to $23,000, up from $22,500 currently. For anyone 50 or

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates ticked down this week, snapping a seven-week streak of increases. The 30-year fixed-rate mortgage fell to an average of 7.76% in the week ending November 2, down from 7.79% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year

By Matt Egan, CNN New York (CNN) — Some of the nation’s most powerful law firms are warning America’s elite universities to crack down on antisemitism on campus – or the schools and their students will face real consequences. “Over the last several weeks, we have been alarmed at reports of anti-Semitic harassment, vandalism and

By Danielle Wiener-Bronner, CNN New York (CNN) — Extra shots, cold foam, oat milk and sugary syrups — coffee snobs might turn their noses up at Starbucks’ custom, often wildly indulgent, lattes and cappuccinos. But they’re turning into big business for the company. High-priced lattes and customized drinks helped lift the coffee chain’s US sales

By Liam Reilly , CNN New York (CNN) — HBO chief executive Casey Bloys apologized Thursday for directing staff to anonymously fire back at TV critics online, calling it a “very dumb idea.” On Wednesday, Rolling Stone published a report that cited text messages obtained as part of a lawsuit filed by former HBO executive assistant Sully Temori that showed Bloys asking

By Oliver Darcy, CNN (CNN) — News organizations are assuming a more aggressive posture toward Israel Defense Forces as it escalates its military operations in the Gaza Strip. While civilian deaths mount and the humanitarian crisis grows more severe in the Palestinian territory, spokespersons for Israel’s military are being confronted by anchors on live television,

By Hanna Ziady, CNN London (CNN) — The Bank of England downgraded its forecasts for UK economic growth Thursday and kept interest rates unchanged, even as it warned that the Israel-Hamas war could push up energy prices and inflation won’t return to target for another two years. The central bank now expects gross domestic product

By Clare Duffy, CNN New York (CNN) — YouTube is implementing new safeguards that could help prevent the platform from sending teen users down potentially harmful content rabbit holes. The platform plans to limit repeated content recommendations for videos on certain topics, including content that idealizes certain body weights, James Beser, director of product management

By Donie O’Sullivan and Allison Gordon, CNN (CNN) — False claims that President Joe Biden fell asleep during a moment of silence for victims of the Maui wildfire. A conspiracy theory that the latest surge in Covid-19 cases is being orchestrated by the Democratic Party ahead of the election. An obituary for a late NBA player that described