Money

By Clare Duffy and Samantha Delouya, CNN New York (CNN) — The artificial intelligence boom continues to fuel a blockbuster year for chipmaker Nvidia. Nvidia’s stock jumped as much as 9% in after-hours trading Wednesday after the Santa Clara, California-based company posted year-over-year sales growth of 101%, to $13.5 billion for the three months ended

By Bryan Mena, CNN Washington, DC (CNN) — The conservative activist behind the Supreme Court case that struck down affirmative action in college admissions this year is suing two international law firms for providing diversity fellowships. The two lawsuits filed by the American Alliance for Equal Rights this week against law firms Perkins Coie and

By Danielle Wiener-Bronner, CNN New York (CNN) — On August 8, the day that Maui was overcome with flames, Qiana Di Bari saw a puff of smoke near her home and knew she and her family had to escape. Earlier that day, a fire had been spotted and put out in her vibrant Lahaina neighborhood.

By Matt Egan, CNN New York (CNN) — Macy’s is warning of a spike in customers who are failing to make credit card payments, adding to the evidence of mounting financial stress on consumers. The iconic department store had anticipated delinquencies would climb following a post-Covid lull. But Macy’s management has been caught off guard

By Alicia Wallace, CNN Minneapolis (CNN) — US job growth during much of the past year was weaker than previously projected by a little more than 300,000 jobs, according to new federal data released Wednesday. As part of the agency’s annual benchmark review of payroll data, the Bureau of Labor Statistics revised down March 2023’s

By Anna Bahney, CNN Washington, DC (CNN) — New home sales rose in July from the month before, beating estimates and reaching a 17-month high, as buyers continue to look to new construction as an option in the face of a historically low supply of existing homes. Sales of newly constructed homes were up 4.4%

By Jordan Valinsky, CNN New York (CNN) — A Peloton recall involving the adjustable seat on more than two million bikes is becoming a bigger headache than expected. Shares of the fitness company plummeted 20% in early trading Wednesday after another dismal earnings report that revealed the recall’s price tag “substantially exceeded” Peloton’s expectations, costing

By Danielle Wiener-Bronner, CNN New York (CNN) — The Pumpkin Spice Latte is coming back, again. Starbucks said Wednesday that the signature drink would return to the fall menu on Thursday, marking its 20th anniversary. The perennial Starbucks favorite has become a reliable hit, making it an autumn(ish) mainstay that has given the coffee chain

By Jordan Valinsky, CNN New York (CNN) — “Barbie” is now within striking distance of becoming the highest-grossing movie at the domestic box office this year, taking the crown away from “Super Mario Bros.” According to studio estimates, “Barbie” has made $572.3 million at the American box office as of Wednesday, edging closer the Mario’s

By Hanna Ziady, CNN London (CNN) — Germany suffered the steepest decline in business activity for more than three years this month, according to survey data published Wednesday, stoking fears that Europe’s biggest economy is falling back into recession. An initial reading of the country’s Purchasing Managers’ Index (PMI), which tracks activity in the manufacturing

By Parija Kavilanz, CNN New York (CNN) — If you’re rushing to complete this year’s back-to-school shopping, there’s still time to save on sales taxes on those purchases in three states. Each year, a number of states offer families a sales-tax-free period in the run-up to a new academic year. On those days, shoppers can

CNN By Michelle Toh, CNN Hong Kong (CNN) — Shares of VinFast, the Vietnamese electric vehicle maker that went public in a red-hot Wall Street debut last week, enjoyed another stunning rally again Tuesday. The stock more than doubled in price in New York, soaring 109% to close at $36.7 as small investors buzzed about

By Michelle Toh, CNN Hong Kong (CNN) — Shares of VinFast, the Vietnamese electric vehicle maker that went public in a red-hot Wall Street debut last week, enjoyed another stunning rally again Tuesday. The stock more than doubled in price in New York, soaring 109% to close at $36.7 as small investors buzzed about the

By Taylor Romine, CNN (CNN) — The Alliance of Motion Picture and Television Producers (AMPTP) shared in a news release their latest package of terms proposed to the Writers Guild of America (WGA) as part of strike negotiations. The proposed package from AMPTP includes an increase in wages, which the studios say is the highest

By Michelle Toh, Kunal Sehgal and Ivan Watson, CNN Hosur, India (CNN) — At a startup factory in Hosur, a southern Indian city not far from Bangalore, the assembly line is buzzing with lightning-fast activity. Here, workers in black uniforms churn out a brand-new electric scooter every 90 seconds, while executives review the company’s skyrocketing

By Samantha Delouya, CNN (CNN) — Allies of Ron DeSantis have fired another shot at the Walt Disney Company as the Florida governor’s long-standing rivalry with the media company heats up again. DeSantis’ recently appointed Central Florida Tourism Oversight District, set up to oversee the 47-square-mile district that contains Walt Disney World Resort, submitted a

By Ramishah Maruf, CNN New York (CNN) — Moody’s RMS estimated up to $6 billion in economic losses from the devastating wildfires in Hawaii, which killed at least 115 people and destroyed countless homes and businesses. The losses could range from $4 billion to $6 billion, Moody’s said Tuesday. About 75% of the losses will

CNN By Ramishah Maruf, CNN New York (CNN) — Moody’s RMS estimated up to $6 billion in economic losses from the devastating wildfires in Hawaii, which killed at least 115 people and destroyed countless homes and businesses. The losses could range from $4 billion to $6 billion, Moody’s said Tuesday. About 75% of the losses

By Liam Reilly, CNN (CNN) — Lachlan Murdoch, Fox Corporation’s chief executive, paid substantial legal fees to Private Media, which publishes the scrappy Australia-based news outlet Crikey, after abandoning his defamation lawsuit against the outlet. Murdoch’s lawyer, John Churchill, said Tuesday that Murdoch had paid. So, $1,306,739 Australian ($839,207.39 US) to cover Private Media’s legal

By Hanna Ziady, CNN London (CNN) — The UK government went all out to prop up the economy through the Covid pandemic and the initial phase of Russia’s war in Ukraine. Now, the bill is starting to bite. Interest payable on UK central government debt hoovered up £7.7 billion ($9.8 billion) last month alone, hitting