Money

By Edward Szekeres, Fred Hu and Robert Shackelford, CNN Hong Kong (CNN) — China is grappling with extreme weather as severe drought and record temperatures scorch the north while heavy rains inundate the south, raising concerns about food security in the world’s second-largest economy. Areas of the country that produce a lot of rice and

By Samantha Murphy Kelly, CNN (CNN) — When OpenAI CEO Sam Altman attended Apple’s annual developer conference this week, he walked the campus, mingling with current and former executives, including Apple co-founder Steve Wozniak. Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices later

By Matt Egan, CNN New York (CNN) — Exactly two years ago Friday, gasoline prices peaked at a record of $5.02 a gallon nationally. The gas spike of 2022 crushed consumer confidence, spooked investors and put a hole in family budgets. It helped propel the national inflation rate to 9% for the first time since

By Hilary Whiteman, CNN (CNN) — Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home. But a new report sums up the feeling of many potential home buyers by creating

By Krystal Hur, CNN New York (CNN) — Apple edged past Microsoft on Thursday to become the most valuable public company in the United States, as announcements made at its annual Worldwide Developers Conference including generative AI features for iPhones sent the stock climbing. Apple’s market cap closed at roughly $3.29 trillion on Thursday, above

By Ramishah Maruf, CNN New York (CNN) — Two female employees at Apple sued the company on Thursday, alleging the company paid women less than men for the same work. The women are proposing a class action, seeking to represent more than 12,000 current and former female employees in the engineering, marketing and AppleCare divisions.

By Danielle Wiener-Bronner, CNN New York (CNN) — Tyson Foods suspended its CFO John R. Tyson after he was arrested Thursday on charges of DWI and careless driving. Tyson, the great grandson of the founder of the meat processing company, was previously arrested in 2022 on charges of public intoxication and criminal trespass. The 34-year-old

By Peter Valdes-Dapena, CNN (CNN) — Waymo issued a recall for its 672 driverless cars to make them less likely to drive into telephone poles. The recall follows a May 21 accident in Phoenix, Arizona, in which a Waymo driverless car hit a telephone pole that was installed in the roadway in an alley. The

By Brian Fung, CNN (CNN) — A lawsuit brought by Elon Musk’s X against the nonprofit watchdog group Media Matters has been scheduled for a trial in April 2025, according to a court filing. Thursday’s order by the US District Court for the Northern District of Texas sets the date for a high-profile showdown over Media Matters’ research

By Elisabeth Buchwald, CNN New York (CNN) — President Joe Biden has nominated Christy Goldsmith Romero as chair of the Federal Deposit Insurance Corporation. The announcement comes after current FDIC Chair Martin Gruenberg said he intended to resign once a successor is confirmed by the Senate following a scathing independent investigation detailing pervasive sexual harassment,

By Chris Isidore and Gregory Wallace, CNN Washington DC (CNN) — Federal Aviation Administration chief Mike Whitaker said his agency is partly responsible for the safety problems at Boeing, admitting that it had been “too hands off” in its oversight of the troubled aircraft manufacturer. In testimony Thursday before the Senate Commerce Committee, Whitaker said

CNN By Clare Duffy, CNN New York (CNN) — SpaceX and CEO Elon Musk were sued on Wednesday by former employees who claim they were illegally fired for raising concerns about gender discrimination and sexual harassment at the rocket company. The lawsuit, brought by eight employees who were fired in 2022, alleges that Musk wants

CNN By Clare Duffy, CNN New York (CNN) — SpaceX and CEO Elon Musk were sued on Wednesday by former employees who claim they were illegally fired for raising concerns about gender discrimination and sexual harassment at the rocket company. The lawsuit, brought by eight employees who were fired in 2022, alleges that Musk wants

By Sean Lyngaas, CNN (CNN) — Microsoft “accepts responsibility for each and every one” of the issues cited in a scathing US government-backed report on the tech giant’s cybersecurity failings, Microsoft President Brad Smith will tell US lawmakers Thursday, according to his prepared testimony. “We acknowledge that we can and must do better, and we

By Elisabeth Buchwald, CNN New York (CNN) — Americans and the Federal Reserve have another positive development to celebrate: More evidence that price pressures are fading. Wholesale inflation cooled significantly in May, with prices down 0.2% from April’s 0.5% increase, according to data the Bureau of Labor Statistics released Thursday. Economists polled by FactSet had

By Jeanne Sahadi, CNN New York (CNN) — Employees’ negative daily emotions and lack of well-being can ultimately hurt worker engagement – and the economy, according to a new report released this week. Gallup, in its “State of the Global Workplace,” estimates that low employee engagement costs the global economy $8.9 trillion, or 9% of

By Chris Isidore, CNN New York (CNN) — Tesla shareholders have re-approved a pay package for CEO Elon Musk worth billions that was already thrown out by a Delaware judge earlier this year in a vote that also approved moving Tesla to Texas. The two measures – Musk’s pay package from 2018 and moving the

CNN, TESLA By Chris Isidore, CNN New York (CNN) — Tesla shareholders have re-approved a pay package for CEO Elon Musk worth billions that was already thrown out by a Delaware judge earlier this year in a vote that also approved moving Tesla to Texas. The two measures – Musk’s pay package from 2018 and

By Natasha Chen, CNN (CNN) — In a development agreement unanimously approved Wednesday night, Disney promises to invest up to $17 billion in its Florida resort over the next 10 to 20 years and sets up the framework for potential theme park expansions. The 15-year agreement was negotiated as part of a settlement following a