Money

By Michelle Toh, CNN Hong Kong (CNN) — HSBC warned Monday that China’s property market has “potential for a further deterioration” as it reported profits that fell short of expectations, partly because of a $500 million charge to cover potential losses on commercial real estate loans. Third quarter pre-tax profit at Europe’s biggest bank more

By Samantha Murphy Kelly, CNN (CNN) — Apple is set to host its second product event of the season, a month after introducing its new iPhone 15 lineup. The event, which is online-only, will kick off on Monday at 8:00 p.m. ET/5:00 p.m. PT, an unusually late start-time for Apple keynotes. Some analysts said the

By Elisabeth Buchwald, CNN New York (CNN) — If you want to aggravate the US bond market, just remind traders how high the nation’s budget deficit is. The latest tally from the Treasury Department for the fiscal year that ended September 30 put the deficit at $1.7 trillion. But it’s effectively even higher — around

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — The United Auto Workers union came to a tenative agreement with Stellantis Saturday. But it expanded the strike against General Motors, America’s largest automaker and the last remaining Big Three holdout, dashing hopes it was close to ending the last remaining auto strike. The

By Nathaniel Meyersohn, CNN New York (CNN) — A small slice of pavement is sparking a turf war in US cities. You probably don’t think much about street curbs. But they are some of cities’ most valuable and busy real estate. There are a slew of users and uses that compete for curb space. Pedestrians

By Eva Rothenberg, CNN New York (CNN) — Dozens of men have filed a class action lawsuit alleging Abercrombie & Fitch was complicit in a decade-long sex trafficking scheme carried out by the fashion company’s former CEO. According to the complaint filed Friday in federal court in New York, Michael Jeffries, who ran the company between

By Allison Morrow and Lucy Bayly, CNN New York (CNN) — Former crypto billionaire Sam Bankman-Fried took the stand in front of a judge and jury last week in his criminal fraud trial. If convicted on all seven fraud counts he faces, the 31-year-old could spend the rest of his life in prison. Prosecutors claim

By Danielle Wiener-Bronner, CNN New York (CNN) — Last year, customers did their Halloween shopping early. But this year, they’re taking their time. That means that this weekend, Hershey — which makes Reese’s, Kit Kat (in the US), Twizzlers and more — is counting on shoppers to load up on candy so it can meet its

By Clare Duffy, Gabrielle Smith and Brian Fung, CNN New York (CNN) — You’d be forgiven for failing to remember every twist and turn — every controversial post, weird office update, legal threat and policy rollout (and, sometimes, rollback) — that took place during Elon Musk’s first year owning Twitter. Since Musk closed his $44

By Brian Fung, CNN Washington, DC (CNN) — A federal judge in California hinted Friday that Google, Meta, Snap and TikTok could very likely have to face allegations by consumers that the social media companies harmed young Americans’ mental health with addictive features built into their respective platforms — and that Big Tech’s signature liability

By Krystal Hur, CNN New York (CNN) — The benchmark S&P 500 index closed in correction territory on Friday, ending a week made volatile by weaker-than-expected earnings reports and strong economic data. The S&P 500 fell 0.5%, marking a more than 10% drop from its most recent July peak. The Dow tumbled 367 points, or

By Eva Rothenberg, CNN New York (CNN) — Best Buy is recalling nearly a million pressure cookers because they pose burn risks. About 930,000 Insignia Multi-Function pressure cookers sold between October 2017 and June 2023 have inaccurate volume markings, meaning that some users may fill them beyond their intended capacity, the US Consumer Product Safety

By Nathaniel Meyersohn, CNN New York (CNN) — Retailers say theft is exploding, and some data from retailers along with numerous videos of violent store robberies and looting seem to support the claim. But some retail analysts and researchers, bolstered by local crime statistics, say stores may be over-stating the extent and impact of theft. Why? It’s

By Jordan Valinsky, CNN New York (CNN) — The Anti-Defamation League sent an open letter to more than 200 colleges and universities Wednesday, urging administrators to investigate campus chapters of Students for Justice in Palestine for allegedly supporting Hamas. The letter, written in conjunction Brandeis Center, a Jewish human rights legal advocacy group, said that

By Matt Egan, CNN New York (CNN) — Hedge fund billionaire Leon Cooperman is blasting college students for protesting against Israel, joining a growing list of powerful university donors to speak out on the issue. “These kids in college have sh*t for brains,” Cooperman told CNN in a phone interview. “They don’t understand that Israel is the

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — The United Auto Workers union is getting close to tentative labor deals with both General Motors and Stellantis, according to three sources familiar with negotiations. If deals with the two automakers are reached, it would be the beginning of the end of America’s longest

By Vanessa Yurkevich, CNN (CNN) — The linchpin in negotiations between the United Auto Workers and Ford came on October 11, when the union struck the Kentucky Truck Plant in Louisville, according to a source with knowledge of the situation. Ford had been put on notice, according to the UAW. On Wednesday, after 41 days on

By Chris Isidore and Peter Valdes-Dapena, CNN New York (CNN) — General Motors announced Thursday that it is putting the brakes on its driverless cars, halting a service that provides driverless rides in multiple cities. The move comes days after California revoked GM’s permits to test and operate fully driverless vehicles on the state’s roads.

By Bryan Mena, CNN Washington, DC (CNN) — Americans’ moods soured this month, largely due to a wobbly stock market. The University of Michigan’s latest consumer survey showed that sentiment declined 6% this month, according to a final reading released Friday, though sentiment is 6.5% better than it was a year ago. The survey also showed

By Krystal Hur, CNN New York (CNN) — JPMorgan Chase chief executive Jamie Dimon and his family plan to sell one million of their shares in the bank starting next year, according to a new securities filing. Dimon — who will use his stock trading plans to offload his shares — and his family currently