Money

By Kathleen Magramo and Jake Kwon, CNN Do Kwon, a disgraced tycoon behind the collapse of the TerraUSD and Luna coins that roiled the crypto assets market in May, is hiding in Serbia, according to South Korean prosecutors who are seeking to take him into custody. Kwon, a South Korean national, had made his way

By Nicole Goodkind, CNN The Federal Reserve is expected to raise interest rates by half a point at the conclusion of its two-day policy meeting on Wednesday, an indication that the central bank is pulling back on its aggressive stance as signs begin to emerge that inflation may be easing. Although that increase would be

By Peter Valdes-Dapena, CNN The Ford F-150 Lightning was named MotorTrend’s 2023 Truck of the Year on Tuesday, making it the second electric pickup in a row to win that award. MotorTrend’s panel of judges lauded the F-150 Lightning as “the best-riding, best-handling, and best-driving F-150 yet.” Unlike other versions of the F-150, the Lightning

By Laura He, CNN China has challenged a move by the United States to block sales of advanced computer chips and chip-making equipment to Chinese companies by launching a trade dispute at the World Trade Organization, calling the measures “trade protectionism.” The country’s commerce ministry filed a formal complaint against the United States with the

By Allison Morrow, CNN Sam Bankman-Fried, the founder of failed crypto exchange FTX, was arrested in the Bahamas on Monday after US prosecutors filed criminal charges against him, according to a statement from the government of the Bahamas. The Southern District of New York, which is investigating Bankman-Fried and the collapse of FTX and its

By Peter Valdes-Dapena, CNN Business Tesla CEO Elon Musk has said numerous times since 2015 that Tesla cars would be entirely self-driving in two years, or less. But years after his self-imposed deadlines have blown by, it still hasn’t happened. Even when equipped with a $15,000 technology package that is literally called “Full Self Driving

By Alicia Wallace, CNN The US government recorded a monthly budget deficit of $249 billion in November, a 30% increase from a year earlier amid increased spending and falling revenue, the Treasury Department reported Monday. Federal budget outlays increased by $28 billion, or 6% in November, with agencies such as the Education Department reporting increased

By Allison Morrow, CNN With his vast crypto empire in ruins, Sam Bankman-Fried is preparing to be grilled by US lawmakers who are demanding answers about how his digital asset exchange, FTX, came unraveled, leaving at least a million customers unable to access their funds. Bankman-Fried tweeted Friday that he was willing to appear Tuesday

By Peter Valdes-Dapena, CNN Business Subaru is recalling 271,694 SUVs because some of them could catch fire. The company is advising owners of some 2019 to 2022 model year Subaru Ascent SUVs to park them outside, away from garages or other structures, and not to leave the vehicles unattended with the engine running. An electrical

By Oliver Darcy, CNN Business “GMA3” co-anchors T.J. Holmes and Amy Robach will “remain off-air pending the completion of an internal review,” ABC News President Kim Godwin disclosed to network employees in a memo Monday morning. The memo is the first time Godwin has acknowledged to the company the existence of a formal internal probe