Money

By Anna Cooban, CNN London (CNN) — The United Kingdom has announced that it will scrap a 225-year-old rule that has allowed many of its richest residents to pay hardly any tax on their vast foreign earnings — a benefit enjoyed at one point by the prime minister’s wife. The axing of the non-domiciled tax regime

By Elisabeth Buchwald, CNN New York (CNN) — Beleaguered regional lender New York Community Bank (NYCB) is receiving a more than $1 billion equity investment. The majority of the investment, $450 million, is coming from former Treasury Secretary Steven Mnuchin’s firm, Liberty Strategic Capital. The remaining sum will come from Hudson Bay Capital, Reverence Capital

By Clare Duffy, CNN New York (CNN) — A Microsoft employee is warning the company’s artificial intelligence systems could create harmful images, including sexualized images of women, according to a letter he sent to the US Federal Trade Commission Wednesday. Shane Jones, a Microsoft principal software engineering lead, claimed that the company’s AI text-to-image generator

By Jordan Valinsky, CNN New York (CNN) — Starbucks’ Middle East franchisee, Alshaya Group, is cutting thousands of jobs at its coffee shops because of a “challenging” work environment as the chain grapples with boycotts over the brand relating to Israel’s war against Hamas in Gaza. In a statement to CNN, Alshaya said the layoffs

By Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve is in no rush to cut interest rates, Fed Chair Jerome Powell testified before congressional lawmakers Wednesday. That means more pain for Americans, who have already faced almost two years of rising borrowing costs on everything from car loans to mortgages. However, it’s unlikely that there will be any

By Ramishah Maruf and Brian Fung, CNN New York (CNN) — A federal judge has allowed parts of a $250 million copyright lawsuit to proceed against Elon Musk’s X, handing the social media company a blow as it faces allegations that it helped some people use artists’ music without permission. The decision exposes X, formerly

By David Goldman, CNN New York (CNN) — OpenAI fired back at Elon Musk, who sued the ChatGPT company last week for chasing profit and diverging from its original, nonprofit mission. Tuesday night, OpenAI published several of Musk’s emails from the early days of the company that appear to show Musk acknowledging OpenAI needed to make

By Clare Duffy, CNN New York (CNN) — Leading artificial intelligence image generators can be manipulated into creating misleading election-related images, according to a report released Wednesday by tech watchdog the Center for Countering Digital Hate. The findings suggest that despite pledges from leading AI firms to address risks related to potential political misinformation ahead of

By Jordan Valinsky, CNN New York (CNN) — Oscar Mayer is going vegan, even though the fad appears to be fading. For the first-time ever, the Kraft Heinz-owned brand is going plant-based with two new versions of its hot dog and sausage it says offer a “smoky, savory taste and thick, juicy bite” that mirror

By Hanna Ziady, CNN London (CNN) — UK finance minister Jeremy Hunt announced a tax cut for workers Wednesday as he unveiled what is likely to be the government’s last budget before a general election later this year. Hunt cut national insurance — a levy paid by people who work — by two percentage points.

By Samantha Delouya, CNN Los Angeles (CNN) — A Panera Bread franchise owner in California said he will raise the minimum wage for his employees after accusations he benefited from ties to the state’s governor to avoid hiking pay. A new state minimum wage law exempts certain businesses that make and sell bread – a carveout

WMUR By Chris Isidore, CNN New York (CNN) — Members of the Dartmouth College men’s basketball team Tuesday became the first college athletes to vote to join a union, a significant milestone in the rapidly changing business for collegiate sports. The team members voted 13-2 in favor of the union, according to the National Labor

By Samantha Murphy Kelly, CNN (CNN) — iPhone sales dropped 24% in the first six weeks of 2024, according to a new report, adding to significant problems for Apple and other Western tech companies in a crucial market. Analysts from Counterpoint Research said the overall mobile market in China fell by 7% with companies including

By Matt Egan, CNN New York (CNN) — Rep. Virginia Foxx, the Republican chairwoman of the House Education Committee, said Tuesday that Harvard University has failed to comply with her unprecedented subpoena for documents on campus antisemitism. Foxx said in a statement that her committee is now “weighing an appropriate response to Harvard’s malfeasance.” “Harvard

By Krystal Hur, CNN New York (CNN) — Stocks tumbled Tuesday with tech stocks leading the way, continuing to retreat from record highs set last week. The Dow fell 405 points, or 1%, after declining more than 500 points at its session lows. The S&P 500 slipped 1% and the Nasdaq Composite slid 1.7%. That

By Kara Nelson, CNN (CNN) — A life-changing grocery store run has erased one Kentucky man’s debts. While he was checking out on February 9 at a store in Louisville, Charles Stallard decided to add one more item to his shopping cart: a lottery ticket that can pay fifty times the cash amount that’s revealed.

By Jon Passantino and Oliver Darcy, CNN New York (CNN) — Rupert Murdoch is pulling the plug on the television broadcast of his right-wing UK outlet TalkTV, a blow to the media mogul who launched the opinion-focused venture just two years ago with an aim of replicating the success of Fox News in the UK. In

By Devan Cole, CNN (CNN) — A federal appeals court on Tuesday threw out a lawsuit that sought to hold Apple, Google, Tesla and other major tech companies liable for their alleged use of child labor to mine cobalt in the Democratic Republic of Congo. The DC Circuit Court of Appeals said in a unanimous