Money

By Peter Valdes-Dapena, CNN New York (CNN) — General Motors has entered into a partnership with a small Wisconsin start-up, Niron Magnetics, to develop electric motor magnets that can be made without rare elements that are mostly sourced from China today. In electric vehicle motors, rapidly shifting magnetic fields spin a rotor made with magnets

By Chris Isidore, CNN New York (CNN) — Blockbuster hit “Barbie” brought in a record $1.5 billion for Warner Bros. Discovery, but the company still reported a $417 million loss for the quarter that was bigger than Wall Street’s forecasts. The company, however, reported a narrow profit when taking into account adjustments for certain items,

By Oliver Darcy, CNN (CNN) — Catherine Herridge is on the brink of being held in contempt of court. In a late-September deposition, the CBS News senior investigative correspondent declined to reveal her source(s) for a series of 2017 stories she reported on during her time at Fox News, according to a court filing made

By Alicia Wallace and Nicole Goodkind, CNN Minneapolis (CNN) — The New York civil fraud trial of former President Donald Trump carries extremely high stakes for the self-proclaimed business mogul. Not only could Trump be subject to hefty financial penalties and lose control of his flagship properties dotting the Manhattan skyline, the trial also could

By Laura He, CNN Hong Kong (CNN) — Beijing is ready to improve ties with Washington, a senior Chinese official said Wednesday, days before a highly anticipated potential meeting between leaders Xi Jinping and Joe Biden in San Francisco. Recent high-level meetings have sent out “positive signals and raised the expectations of the international community

By Michelle Toh, CNN Hong Kong (CNN) — Diversification away from China is increasing, and it doesn’t just affect foreign companies, according to HSBC CEO Noel Quinn. Speaking at the Bloomberg New Economy forum in Singapore on Wednesday, Quinn said the head of one of HSBC’s units had recently reported a 70% jump “in activity

By Krystal Hur, CNN New York (CNN) — Wall Street gained Tuesday as the continued slide in Treasury yields helped propel stocks higher. The S&P 500 index climbed for the seventh day in a row, its longest streak of gains since November 2021, when the benchmark index rose for eight straight sessions. The Nasdaq Composite

By Jordan Valinsky, CNN New York (CNN) — More than two dozen Republican members of Congress sent a letter to University of Pennsylvania President Liz Magill condemning the school’s “shocking lack of a prompt and unequivocal condemnation” of the October 7 attacks in Israel by Hamas. The letter, dated November 1, comes after the college

By Matt Egan, CNN New York (CNN) — The last time America’s housing market was this unaffordable, Ronald Reagan was in the White House. It now takes nearly 41% of the median household’s monthly income to cover the principal and interest payments on a median-priced home, according to research from Intercontinental Exchange. It comes at a time

By Brian Fung, CNN Washington (CNN) — Meta’s top executives, including CEO Mark Zuckerberg, ignored warnings for years about harms to teens on its platforms such as Instagram, a company whistleblower told a Senate subcommittee on Tuesday. Meta instead fosters a culture of “see no evil, hear no evil” that overlooks evidence of harm internally

By Nathaniel Meyersohn, CNN New York (CNN) — America has a glut of empty offices. Now, some offices face losing WeWork, which has more than 600 locations in major cities. WeWork filed for Chapter 11 bankruptcy Monday, throwing the future of the real estate company up in the air. WeWork said it would terminate some

By Matt Egan, CNN New York (CNN) — A growing number of cash-strapped Americans are cracking their nest eggs for emergency funds. The number of 401(k) plan participants taking hardship distributions increased by 13% between the second and third quarters, according to an analysis by Bank of America of its clients’ employee benefit programs. That figure now

By Alicia Wallace, CNN Minneapolis (CNN) — The resilient consumer has kept the US economic engine running, but it’s coming at a big cost: Americans are piling up record credit card balances, and more and more are falling behind on those payments. During the third quarter, credit card balances hit a fresh high of $1.08 trillion, rising $48

By Anna Bahney, CNN Washington, DC (CNN) — When Michael Monaghan, a real estate agent with Coldwell Banker Sellers Realty in northern California, got an offer for a home in Bayside at the seller’s $650,000 list price in September, he told the buyer’s agent that the buyer needed to start looking for insurance immediately. “I

By Jeanne Sahadi, CNN New York (CNN) — If you’ve always thought you might be happier with a four-day workweek, you’re hardly alone. When asked how six different options would impact their well-being at work, a full 77% of US workers said a four-day, 40-hour workweek would have a positive impact, with 46% saying it

By Parija Kavilanz, CNN New York (CNN) — Walmart announced Tuesday that it is making changes to create a calmer shopping experience, at least for a few hours every day in all of its US stores. Set to be implemented on Nov. 10, the changes include setting in-store TV walls to a static image, turning

By Barbie Latza Nadeau, CNN Rome (CNN) — Italian tax authorities are poised to seize some €779 million ($836 million) from Airbnb as a result of its alleged failure to pay taxes owed by landlords using the platform. It’s the latest sign of intense scrutiny of short-term rentals that have proliferated in big cities in

By Matt Egan, CNN New York (CNN) — Federal Reserve officials are urging banks to work with customers hurt by ongoing deposit delays that have prevented some people from accessing their paychecks and other funds. A number of customers still haven’t received their direct deposit paychecks following a “human error” that damaged the plumbing of America’s banking

By Jordan Valinsky, CNN New York (CNN) — For those that can’t get enough of espresso martinis, there’s now a gift that smells like the iconic cocktail that’s experiencing a resurgence for its 40th birthday. Absolut Vodka and Kahlúa coffee liqueur, two spirits that are often mixed to create an espresso martini, are releasing a