Money

By Jennifer Korn, CNN (CNN) — Nvidia CEO Jensen Huang’s wealth saw a major boost on Thursday as the company he cofounded in 1993 surged in value. Now ranked by Bloomberg as the 21st richest person in the world, Huang expanded his wealth by as much as $8.5 billion on Thursday alone as his company’s

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates climbed for the third week in a row, inching closer to 7%. The 30-year fixed-rate mortgage averaged 6.90% in the week ending February 22, up from 6.77% the previous week, according to data from Freddie Mac released Thursday. A year ago, the average 30-year fixed-rate

By Catherine Thorbecke and Clare Duffy, CNN New York (CNN) — Google is pausing its artificial intelligence tool Gemini’s ability to generate images of people after it was blasted on social media for producing historically inaccurate images that largely showed people of color in place of White people. The embarrassing blunder shows how AI tools

By Anna Bahney, CNN Washington, DC (CNN) — Sales of existing homes in the US climbed in January, pushed up by buyers who were encouraged to make a purchase by falling mortgage rates. But the surge may be short-lived if rates extend a post-January climb. Existing home sales (not newly-constructed homes) — which include single-family

By Hanna Ziady, CNN London (CNN) — In 1867, pharmacist Henri Nestlé combined dried cow’s milk with cereals and sugar to create a safe, easily digestible breast-milk substitute. That infant formula was the foundation of what would become the world’s biggest food company. Now, Nestlé is embracing a new “significant demographic opportunity”: the planet’s aging

By Nicole Goodkind, CNN New York (CNN) — US stocks soared to new highs on Thursday after Nvidia, the third largest company on Wall Street, blew past earnings expectations and bolstered investor optimism on Wall Street. The S&P 500 and Dow Jones Industrial Average both notched new record highs and the tech-heavy Nasdaq was within

By Melissa Alonso, CNN (CNN) — The U.S. Labor Department on Wednesday requested that a federal court issue a temporary injunction against Tennessee-based Fayette Janitorial Services after investigators found the company “employed children to clean and sanitize spaces and equipment during overnight shifts” in meat and poultry slaughtering establishments, according to a federal complaint. “Minors were

By Olesya Dmitracova, CNN London (CNN) — One year after the conclusion of the world’s biggest trial of a four-day work week, a large majority of companies that took part were still allowing their employees to work a shorter week and more than half had made the change permanent. For six months between June and December

By Diksha Madhok, CNN New Delhi (CNN) — Toyota is recalling about 280,000 pickups and SUVs in the United States because the engine may not disengage entirely when in neutral. “Certain parts of the transmission may not immediately disengage when the vehicle is shifted to the neutral position,” the Japanese manufacturer said in a statement

By Anna Bahney, CNN Washington, DC (CNN) — Rents continue to cool, dropping for the sixth month in a row nationwide, and providing a bit of relief to renters. The national median price of rent for apartments ranging from studios to two-bedroom apartments fell 0.3% year-over-year to in January. That’s down $5 from a year ago

By Laura He, CNN Hong Kong (CNN) — Japan’s stock market has finally set a new record high for the first time since 1989 when an asset-price bubble popped, ushering in decades of economic stagnation. Strong gains in Japanese semiconductor stocks on the back of Nvidia’s blockbuster earnings report late Wednesday helped push the Nikkei

By Ross Levitt, Pete Muntean and Samantha Delouya, CNN (CNN) — United Airlines said it will resume flights from the United States to Israel beginning in March. United is the first major US airline carrier to resume flights to Israel following the October 7 Hamas terror attack and ensuing war in Gaza. United said there

By Ramishah Maruf, CNN New York (CNN) — The National Labor Relations Board on Wednesday ruled that Home Depot violated the law by firing an employee after he refused to remove “BLM” (which stand for “Black Lives Matter”) messaging from his work apron. In late spring and summer of 2020, the United States was engulfed

By Samantha Murphy Kelly, CNN New York, New York (CNN) — Dynabook Americas, the company formerly known as Toshiba, has recalled 15.5 million Toshiba laptop AC adapters over potential burn and fire hazards. The company said it received 679 reports of the recalled AC adapters overheating or catching on fire, melting and burning, including 43

By Peter Valdes-Dapena, CNN (CNN) — Rivian announced Wednesday that it will lay off 10% of its salaried workers beginning Thursday morning, amid a quarterly loss and an increasingly competitive EV market. “Our business is facing a challenging macroeconomic environment — including historically high interest rates and geopolitical uncertainty — and we need to make

By Clare Duffy, CNN New York (CNN) — Last year was a breakout year for artificial intelligence, and no company benefited from the trend quite like chipmaker Nvidia. Earnings released on Wednesday show Nvidia’s profits grew to nearly $12.3 billion in the three months ended January 28 — up from $1.4 billion in the year-ago quarter,

By Oliver Darcy, CNN New York (CNN) — BuzzFeed on Wednesday sold Complex to NTWRK, an e-commerce company specializing in collectible items rooted in street culture, in a deal that further shrinks the struggling Jonah Peretti-led digital media empire that was once synonymous with virality and the social media age. The $108.6 million sale of much of

By Bryan Mena, CNN Washington, DC (CNN) — Federal Reserve officials continued to worry that inflation could stay stubbornly high during their policy meeting last month, minutes released Wednesday showed. That could keep interest rates at 23-year high for longer than previously expected, affecting Americans’ borrowing costs on everything from car loans to mortgages. The

By Chris Isidore and Pete Muntean, CNN New York (CNN) — Boeing removed executive Ed Clark, the head of its 737 Max passenger jet program, after a dramatic – and terrifying – midair blowout in January underscored ongoing problems with the jet. The 737 Max is Boeing’s best selling plane, but has been a source