Money

By Robert Ilich, CNN (CNN) — Manchester United announced Sunday that British petrochemical billionaire Sir Jim Ratcliffe purchased a 25% stake in the famed English Premier League soccer club. The sale was confirmed by Manchester United and Ratcliffe-controlled INEOS, a London-based multinational conglomerate. INEOS said in a statement that Ratcliffe will acquire 25% of the

By Nicole Goodkind, CNN New York (CNN) — GM has paused sales of its brand new Chevy Blazer EVs after some customers reported software problems. “We’re aware that a limited number of customers have experienced software-related quality issues with their Blazer EV,” Scott Bell, Vice President of Global Chevrolet, told CNN in a statement. “Customer

By Allison Morrow, CNN New York (CNN) — Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling. It still may have been the industry’s best year ever. The cast of “Crypto 2023” starred figures that are now practically synonymous with fraud: Sam Bankman-Fried, Changpeng Zhao, Alex Mashinsky, and, less prominently,

By Sara Smart, CNN (CNN) — The Powerball jackpot has climbed to $638 million just in time for its next drawing on Christmas night. In the past, three Powerball jackpots have been won on Christmas, according to a news release from Powerball. The last time was 10 years ago when an individual in Missouri won

By Peter Valdes-Dapena, CNN (CNN) — Next year will see the introduction of some new, genuinely affordable electric vehicles as well as a couple of interesting options for the ultra-wealthy. We’ll also see the return of some classic model names. Chevrolet Equinox EV While there are already plenty of electric SUVs on the market, what

By Nicole Goodkind, CNN New York (CNN) — Forget the Super Bowl. For last-minute holiday shoppers, Super Saturday is the sporting event of the year. Christmas Eve falls on a Sunday this year, allowing Americans to take advantage of a weekend of shopping before the holiday. December 23 is expected to be the busiest shopping

By Nicole Goodkind, CNN New York (CNN) — Tesla is recalling more than 120,000 of its vehicles because unlocked doors may open during a crash, increasing the risk of injury, according to safety regulators. The defect affects some 2021-2023 Model S and X vehicles in the United States, according to a National Highway Traffic Safety

By Ramishah Maruf, CNN New York (CNN) — If you need a last-minute present or ingredient from the grocery store, buying them during Christmas can be challenging. Many stores and services are closed to give employees time off with their families. However, others will still be open or on modified hours. This year, Christmas Eve

By Parija Kavilanz, CNN New York (CNN) — For some, tis the season when Starbucks’ holiday cups officially hit the counter. For others, it only truly feels like the holiday season when they can actually smell it. Bath & Body Works, the purveyor of scented products, has figured this out. Global research, the development of

By Alicia Wallace, CNN New York (CNN) — The United States has just hit a “significant milestone” in the battle to bring down inflation, President Joe Biden’s chief economic adviser said Friday. Earlier Friday, the Commerce Department released data showing that a closely watched inflation gauge had cooled beyond what economists were expecting and that

By Liam Reilly, CNN (CNN) — The Washington Post Guild, the union that represents roughly 1,000 of the newspaper’s staffers, reached a tentative agreement Friday on a new contract with the Post’s management, a breakthrough after a year and a half of protracted and, at times, contentious talks that spilled into public view. “This is without question the best

By David Goldman, CNN Washington (CNN) — For years, Pornhub hosted adult videos featuring women who were coerced into performing sex acts on camera by a production company, the website’s owner acknowledged in an agreement with federal prosecutors this week. Aylo, Pornhub’s parent company, will pay a $1.8 million fine and compensate the sex trafficking

By Anna Cooban, CNN London (CNN) — Maersk and CMA CGN have introduced new charges to transport goods along many of the world’s busiest shipping routes after re-directing their vessels away from the Red Sea because of attacks. Denmark’s Maersk said Thursday that it will impose a Transit Disruption Surcharge (TDS) immediately on 27 trade

By Matt Egan, CNN New York (CNN) — Billionaire Len Blavatnik is joining the list of frustrated Harvard donors closing their checkbooks to the university. Blavatnik’s family foundation has suspended donations to Harvard in the wake of President Claudine Gay’s disastrous testimony before Congress, a person familiar with the matter confirmed to CNN. Blavatnik, who

By Anna Bahney, CNN Washington, DC (CNN) — New home sales in the US dropped in November as mortgage rates slowly retreated from their highest levels this year. Sales of newly constructed homes dropped 12.2% in November to a seasonally adjusted annual rate of 590,000 from a revised rate of 672,000 in October, according to a joint

By Nathaniel Meyersohn, CNN New York (CNN) — Nike, a bellwether for the global economy, sounded a warning sign Thursday as the sneaker giant sees consumers becoming more cautious. Nike slashed its revenue outlook for the year and announced cost cuts amid growing concerns that consumers are slowing their spending around the world. The company

By Alicia Wallace, CNN New York (CNN) — After three-plus years of prices steadily — and sometimes sharply — increasing month after month after month, they fell in November. Last month, for the first time since April 2020, prices fell on a monthly basis, according to a closely watched report released Friday by the Commerce

By CNN Staff Hong Kong (CNN) — Some of China’s most prominent analysts have been subjected to social media restrictions that appear designed to restrict their ability to comment on the country’s ailing stock markets and struggling economy. At least six analysts are unable to upload new posts or gain new followers on popular social

By Wayne Chang and Laura He, CNN Hong Kong (CNN) — Shares of several Chinese tech giants tanked in Hong Kong on Friday, wiping billions off their collective value, after Beijing unveiled a new set of regulations to restrict online spending in the gaming industry as part of its wider crackdown. Tencent, one of the

CNN By Nathaniel Meyersohn, CNN New York (CNN) — Wayfair’s CEO has an end-of-year message for employees of the online furniture company: Don’t shy away from doing more work and blending your work with your life. “Winning requires hard work. I believe that most of us, being ambitious individuals, find fulfillment in the joy of