Money

By Elisabeth Buchwald New York (CNN) — Sen. Bob Menendez, allegedly accepted gold bar bribes, prosecutors allege, according to a newly unsealed federal indictment. Wait, you can own gold bars? Yes. It’s actually a booming trend. (Spokespeople for Menendez didn’t respond to CNN’s request for comment. Separately, he released a statement on Friday calling the

Cheri Mossburg, CNN (CNN) — California will now let insurance companies consider climate change when offering policies, in exchange for a mandate requiring them to offer coverage in wildfire-prone areas, state leaders announced on Thursday. “We are at a major crossroads on insurance after multiple years of wildfires and storms intensified by the threat of

By Jennifer Korn, CNN New York (CNN) — Companies are struggling to deal with the rapid rise of generative AI, with some rushing to embrace the technology as workflow tools for employees while others shun it – at least for now. As generative artificial intelligence – the technology that underpins ChatGPT and similar tools –

By Samantha Murphy Kelly, CNN (CNN) — Apple’s iPhone 15 lineup hit stores Friday as people waited in long lines across China, Europe and the US to be among the first to get their hands on one of the company’s next-generation smartphones. Leading up to launch day, analysts at firms such as Wedbush Securities have

By Danielle Wiener-Bronner, CNN New York (CNN) — For the first time in about 30 years, McDonald’s is increasing its royalty fee for franchise operators opening new restaurants in the US and Canada. Starting on January 1, those operators will have to pay a 5% royalty rate, up from 4%, according to the company. The

By Matt Egan, CNN New York (CNN) — Even as Federal Reserve Chair Jerome Powell reassures the public about the state of the US economy, the organization is quietly laying off workers at its own doorstep. The Federal Reserve system is cutting approximately 300 jobs through the end of the year, a Fed spokesperson confirmed

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — The United Auto Workers union is expanding its strike against GM and Stellantis but said that progress in negotiations with Ford means it won’t expand the number of Ford workers on the picket lines. UAW President Shawn Fain made the announcement on Friday morning.

By Vanessa Yurkevich, CNN New York (CNN) — The United Auto Workers Union is prepared to strike automakers for “months,” according to leaked messages obtained by CNN. The messages, between Jonah Furman, Communications Director at the United Auto Workers Union, and other members of the labor community detail personal thoughts about the union’s strategy against

By Brian Fung, CNN (CNN) — Microsoft’s proposed multibillion-dollar purchase of Activision Blizzard took a step closer to fruition on Friday as UK regulators said an amended version of the deal is likely to resolve their concerns over the acquisition. In a statement, the UK Competition and Markets Authority (CMA) said that changes Microsoft (MSFT)

By Samantha Delouya, CNN (CNN) — Cheryl Magnusson and her husband wanted to borrow money for a home renovation project earlier this year. They didn’t expect an arduous process. She said they always easily landed loans, including a mortgage in 2009 in the wake of the US housing crisis. At first, Magnusson, a teacher in

By Jordan Valinsky, CNN New York (CNN) — Amazon is joining other streaming services and inserting ads into its programming. Beginning next year, shows and movies on its Prime Video service will “include limited advertisements,” the company announced Friday. Amazon’s change brings it in line with its rivals, like Netflix and Max, adding ad-supported tiers

By Matt Egan, CNN New York (CNN Business) — Corporate America’s leaders are mentally preparing for an especially long and chaotic government shutdown. Executives worry a protracted government shutdown will only add uncertainty to an already confusing business environment. In an era of persistent inflation, labor strikes and rising borrowing costs, they argue it would

By Olesya Dmitracova, CNN London (CNN) — Warner Bros. Discovery has announced plans for a major expansion of the UK studios where “Barbie” — its biggest movie of all time — was filmed. The expansion will increase the production capacity at the studios in the Leavesden area, on the outskirts of London, by more than

By Michelle Toh, CNN Hong Kong (CNN) — GGV Capital, a prominent Silicon Valley venture capital firm, has become the latest big investor to break up its US and China operations into separate companies as tensions between the two countries over tech and geopolitics continue to rise. The firm announced Thursday that it would divide

By Laura He, CNN Hong Kong (CNN) — China is allowing foreigners in Shanghai and Beijing to move their money freely into and out of the country, in a significant move toward relaxing its strict capital controls as it tries to woo overseas investors. The news was announced just weeks after official data showed foreign

By Jessie Yeung and Francesca Annio, CNN Tokyo (CNN) — The iconic Japanese animation company Studio Ghibli, which created internationally beloved films including “My Neighbor Totoro” and “Spirited Away,” has been sold to Nippon TV after failing to find a successor for its legendary co-founder and director Hayao Miyazaki. The two companies’ board of directors

By Oliver Darcy, CNN (CNN) — The striking writers and Hollywood studios will meet for a third consecutive day Friday, after wrapping up “marathon” negotiations aimed at ending the nearly 150-day standoff. The Writers Guild of America said in a message to its members late Thursday that they urged members to return to the picket

By Michelle Toh, CNN Hong Kong (CNN) — Union workers have called off strikes at liquefied natural gas facilities belonging to Chevron in Australia, ending a standoff that could have affected about 7% of global LNG supply. Both Chevron (CVX) and Offshore Alliance, which represents the Australian Workers’ Union and the Maritime Union of Australia,

By Catherine Thorbecke, CNN (CNN) — YouTube on Thursday unveiled a slew of new artificial intelligence-powered tools to help creators produce videos and reach a wider audience on the platform, as companies race to incorporate buzzy generative AI technology directly into their core products. “We want to make it easier for everyone to feel like