Money

By Anna Cooban and Xiaofei Xu, CNN Efforts to resolve a simmering dispute between Europe and the United States over electric vehicle subsidies stemming from President Joe Biden’s Inflation Reduction Act suffered a blow Friday when a top EU official pulled out of talks scheduled for Monday. Thierry Breton, the official responsible for the EU’s

By Samantha Beech, CNN Right-wing conspiracy theorist Alex Jones filed for personal Chapter 11 bankruptcy protection in a Texas court on Friday, according to court documents. In the documents, Jones estimates his assets to be worth between $1 to 10 million, and his liabilities to be between $1 to $10 billion. The Infowars host’s primary

By Chris Isidore, CNN Business Most labor disputes never end up being debated in Congress. But thanks to a nearly century-old law that regulates labor relations only when it comes to railroads and airlines, what otherwise would be strictly an economic issue became a political one. The Railway Labor Act was passed in 1926 as

By Alicia Wallace, CNN Business The US economy added 263,000 jobs in November, defying aggressive action from the Federal Reserve to cool the economy and bring down decades-high inflation. The unemployment rate held steady at 3.7%, according to the Labor Department, which released the latest monthly jobs snapshot on Friday morning. Economists surveyed by Refinitiv

By Juliana Liu and Diksha Madhok, CNN Business The crypto industry just can’t catch a break this year. Binance, the world’s biggest cryptocurrency exchange, is investigating a hacking incident that affected a number of crypto tokens Friday. According to its founder and CEO Changpeng Zhao, a private key, used to encrypt or decrypt data, had

By Laura He, CNN Business Protests this week across China show just how unpopular Beijing’s zero-Covid policy has become. Now, even as the country signals it may loosen pandemic controls, it faces another challenge: Local governments charged with conducting mass testing and enforcing quarantine are running short of cash and could be forced to cut

By Matt Egan, CNN Business Inflation is cooling. Consumers are still spending. And hiring is slowing — but not collapsing. That’s why Moody’s Analytics chief economist Mark Zandi is increasingly confident that the American economy will — narrowly — escape a recession. “It’s going to be a struggle. It’s going to feel uncomfortable. But I

By Alicia Wallace, CNN Business Sheets of dollar bills rolling off the presses at the Fort Worth Bureau of Engraving and Printing will soon bear the signature of US Treasury Secretary Janet Yellen. But as it turns out, there was a lot riding on that little John Hancock, Yellen said Wednesday night as a guest

By Danielle Wiener-Bronner, CNN Business McDonald’s is hoping a drive-thru lane with a food conveyor belt, a pickup room for delivery workers and a shelf where people can grab their orders will make life easier for customers on the go. The features are being tested in a restaurant near Fort Worth, Texas, the burger chain