Money

By Nicole Goodkind, CNN New York (CNN) — Elon Musk’s Tesla once represented the future of automaking. Now the company’s own future is in question. The once red-hot electric vehicle maker — heralded as part of the so-called Magnificent Seven behemoth tech stocks — is currently the worst performer in the S&P 500 this year,

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates dropped for the second week in a row, falling nearly a quarter of a percentage point over the past two weeks in the face of stronger-than-expected employment and inflation data. The 30-year fixed-rate mortgage averaged 6.74% in the week ending March 14, down from 6.88%

By Matt Egan, CNN (CNN) — President Joe Biden on Thursday said he believes it’s “vital” that US Steel remain American owned and operated, dealing a blow to the iconic company’s planned sale to Japan’s Nippon Steel. The announcement marks the strongest opposition yet from the White House to a controversial deal that has drawn some

CNN By Elisabeth Buchwald and Matt Egan, CNN New York (CNN) — Former Treasury Secretary Steven Mnuchin said Thursday he’s assembling a team of investors to make a bid to buy TikTok. This comes a day after the House passed a measure to ban the Chinese-owned social media giant or force a sale to a

By Brian Fung, CNN (CNN) — The European Union launched a probe Thursday into Big Tech’s use of artificial intelligence and its handling of computer-generated deepfakes, ramping up scrutiny of a technology officials fear could disrupt elections. The inquiry is aimed at companies including Meta, Microsoft, Snap, TikTok and X, focusing on how the tech

By Alicia Wallace, CNN (CNN) — Rising energy prices helped to fuel yet another hot inflation reading for February. A closely watched gauge of US wholesale inflation rose at its fastest pace in months, according to new data released Thursday. While a seasonal energy price surge is at the root of the gain, and less-volatile

By Bryan Mena, CNN Washington (CNN) — Spending at US retailers rebounded last month as Americans shelled out more for gasoline. Retail sales at stores, online and in restaurants rose 0.6% in February from the prior month, up from January’s revised 1.1% decline, the Commerce Department reported Thursday. That was slightly below economists’ expectations. The figures

By Elisabeth Buchwald and Matt Egan, CNN New York (CNN) — Former Treasury Secretary Steven Mnuchin said Thursday he’s assembling a team of investors to make a bid to buy TikTok. This comes a day after the House passed a measure to ban the Chinese-owned social media giant or force a sale to a US-operated

By Maisie Linford and Anna Cooban, CNN London (CNN) — Italy’s competition authority has fined TikTok €10 million ($11 million) for failing to control the spread of content that it said threatened the safety of minors and other vulnerable people. The antitrust agency, AGCM, said Thursday that TikTok, which is owned by China’s ByteDance, had

By Ramishah Maruf, CNN New York (CNN) — Pi Day isn’t just about showing off how many numbers you have memorized. Restaurants from Burger King to California Pizza Kitchen are offering deals and discounts on Thursday, March 14. Pi Day occurs on March 14 each year because the date is written as 3.14 in the United

By Sean Lyngaas and Isabel Rosales, CNN Washington/Atlanta (CNN) — A cyberattack caused intermittent “disruptions” for websites of multiple Alabama government agencies on Wednesday, in an incident that had state officials working throughout the day to defend their networks from hackers, a spokesperson for Alabama’s Office of Information Technology told CNN. “[W]e understand that the

CNN By Oliver Darcy, CNN New York (CNN) — Don Lemon said Wednesday that his partnership with Elon Musk went down in flames, hours after the former CNN anchor conducted an interview last week with the erratic billionaire for the debut episode of his new independent web-based show. “Elon publicly encouraged me to join X

By Samantha Delouya, CNN (CNN) — Electric vehicle company Fisker’s stock plunged more than 40% in after-hours trading on Wednesday as investor concern about the company’s ability to stay in business intensified. On Wednesday, the Wall Street Journal, citing people familiar with the matter, reported that Fisker had hired restructuring advisors to work on a

By Angus Watson and Samantha Delouya, and Ana Melgar, CNN (CNN) — New Zealand authorities were able to remove the cockpit voice recorder and flight data recorder from the Boeing 787-9 that experienced a “technical event” on Monday’s LATAM Airlines Flight 800, a spokesman for New Zealand’s transport safety body told CNN on Wednesday. The

CNN By Elisabeth Buchwald, CNN New York (CNN) — A lot has changed in the time since Gerald Ford was president and Steve Jobs and Steve Wozniak founded Apple. But here’s something that hasn’t changed much: the pace at which car insurance rates are rising. Car insurance rates are up almost 21% for the 12

By Ramishah Maruf, CNN New York (CNN) — Some lower-income Americans are rejecting McDonald’s and opting to cook at home instead, the fast food chain’s chief financial officer said at an investor conference on Wednesday. “It’s a challenging consumer environment,” said Ian Borden, McDonald’s CFO, noting that many consumers are trying to manage inflation, higher

By Elisabeth Buchwald, CNN New York (CNN) — A lot has changed in the time since Gerald Ford was president and Steve Jobs and Steve Wozniak founded Apple. But here’s something that hasn’t changed much: the pace at which car insurance rates are rising. Car insurance rates are up almost 21% for the 12 months