Money

By Michelle Toh and Hassan Tayir, CNN Hong Kong (CNN) — Fan Yifei, a disgraced former Chinese central banker, has admitted making a “huge mistake” in comments aired as part of a documentary by state broadcaster CCTV that alleges he accepted massive bribes from the beginning of his tenure. Fan, who was one of the

By Liam Reilly, CNN (CNN) — A group of media executives urged lawmakers on Wednesday to enact new legislation that would force artificial intelligence developers to pay publishers for use of their content to train their computer models. The hearing before the US Senate comes after a blitz of new AI chatbots, most notably OpenAI’s ChatGPT, set off a wave of existential panic among media organizations, threatening to further upend the

By Samantha Delouya, CNN (CNN) — It’s the end of an era for Fruit Stripe, the decades-old gum brand that was known for its fruit-inspired flavors and zebra-print product: The brand’s owner is discontinuing the striped treat. “The decision to sunset this product was not taken lightly,” a representative for Ferrara, Fruit Stripe’s owner, told

By Ramishah Maruf, CNN New York (CNN) — Netflix’s ad-supported tier has hit more than 23 million monthly active users, Amy Reinhard, the streaming service’s president of advertising, said Wednesday. That’s about an 8 million increase in roughly two months; the streaming giant announced it had 15 million global monthly active users in November 2023. “We’re

CNN By Clare Duffy, CNN New York (CNN) — Meta advertisers, including dating app company Match Group and Walmart, have raised concerns to the tech giant about their ads appearing alongside disturbing sexual content, New Mexico Attorney General Raúl Torrez alleged in an updated complaint in his lawsuit against the tech giant. The updated complaint,

By Ramishah Maruf, CNN New York (CNN) — Hybrid? Full-time? Flexible schedule? Fully remote? Remote optional? Shortened work weeks? The return-to-office debate isn’t going away — but one aspect may be coming to a close, and workers won. CEOs are letting up on the battle to get employees to return to the office full-time, five

By Clare Duffy, CNN New York (CNN) — Meta advertisers, including dating app company Match Group and Walmart, have raised concerns to the tech giant about their ads appearing alongside disturbing sexual content, New Mexico Attorney General Raúl Torrez alleged in an updated complaint in his lawsuit against the tech giant. The updated complaint, filed

By Matt Egan, CNN (CNN) — The powerful House Ways and Means Committee is threatening to reconsider the tax-exempt status of Harvard University, the Massachusetts Institute of Technology, the University of Pennsylvania and Cornell University amid allegations the elite schools have failed to fight antisemitism on campus. Rep. Jason Smith, the Republican chair of the

By Ramishah Maruf, CNN New York (CNN) — Taylor Swift practically owned 2023. But an end-of-year report from Luminate, an entertainment data firm, puts into numbers just how much the singer dominated the US music industry. One in every 78 US audio streams was a Taylor Swift song in 2023, according to Luminate. The data

By Jeanne Sahadi, CNN New York (CNN) — After a false start Tuesday, the Securities and Exchange Commission gave its approval Wednesday for some investment companies to offer “spot bitcoin” exchange-traded funds. The regulator’s highly anticipated move is expected to make bitcoin investing more accessible to Main Street investors, without requiring them to own the

By Parija Kavilanz, CNN New York (CNN) — Starbucks is being sued by a consumer advocacy group alleging that the global coffee chain falsely and deceptively advertises the “committed to 100% ethical sourcing” claim on its coffee and tea products. The lawsuit, filed by the National Consumers League in a Washington, DC court on Wednesday,

By Matt Egan and Nicole Goodkind, CNN New York (CNN) — The Securities and Exchange Commission said Wednesday the FBI is investigating the hack of the agency’s social media account that rocked the bitcoin world earlier this week ahead of the regulator’s approval of a bitcoin exchange-traded fund late Wednesday. “The SEC continues to investigate

By Brian Fung, CNN (CNN) — An Ohio law regulating kids’ accounts on social media likely violates the First Amendment in “breathtakingly blunt” ways and cannot take effect next week as scheduled, a federal judge has ruled. The state law set to take effect Jan. 15 would have required social media platforms to obtain parental

By Ramishah Maruf, CNN New York (CNN) — Walmart is joining the AI, drone and tech race. But delivering on the promise of a high-tech shopping future — where its rivals have failed — won’t be easy. The bigbox retailer held a keynote at the Consumer Electronics Show in Las Vegas for the first time, featuring

By Oliver Darcy, CNN (CNN) — Aaron Rodgers is done as a guest on Pat McAfee’s ESPN show for the remainder of the NFL season. McAfee, who has drawn significant scrutiny for allowing the injured New York Jets quarterback to appear on his program and deliver lengthy conspiratorial rants, made the announcement Wednesday on his

By Peter Valdes-Dapena, CNN (CNN) — One of the first things you learn in driver’s ed is, after you buckle your seatbelt, adjust your mirrors. But if technology from Vietnamese automaker Vinfast enters production, that will be a thing of the past. It’s not some fancy new video mirror system. Many cars already offer that

By Matt Egan, CNN New York (CNN) — Billionaire Bill Ackman is stepping up his campaign to overhaul Harvard University by throwing his considerable influence behind a slate of four outsider candidates vying to join the university’s board of overseers. The move by Ackman takes a page out of the playbook that made him successful

By Clare Duffy and Ramishah Maruf, CNN New York (CNN) — Amazon on Wednesday cut hundreds of jobs across two different business units: streaming platform Twitch and its film and television studios division. Amazon is cutting “several hundred” roles across Prime Video and Amazon MGM Studios, according to an internal note shared with CNN. In

By Brian Fung, CNN (CNN) — With any luck, most people will never find themselves in a situation calling for CPR, the Heimlich maneuver or urgent treatment of a snake bite. But if it happens, YouTube will now provide quick access to step-by-step first aid videos made by hospitals and trustworthy health organizations. On Wednesday,

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage applications surged by 9.9% in the first week of the year, a sign that lower rates are bringing homebuyers off the sidelines, according to a report released Wednesday by the Mortgage Bankers Association. Applications soared in the week ending January 5 from a week earlier, on