Money

By Ramishah Maruf, CNN New York (CNN) — Stanford University said it will be returning gifts it received from bankrupt crypto exchange FTX “in their entirety,” after a lawsuit against founder Sam Bankman-Fried’s parents alleged the school received millions of dollars in donations. The school said it received the gifts from the FTX Foundation and

By Danielle Wiener-Bronner and Natasha Chen, CNN New York (CNN) — Disney is greatly expanding its investment into theme parks and cruises, the company said Tuesday. Over the next 10 years, it will pour $60 billion into its Disney Parks, Experiences and Products segment, according to an SEC filing which coincided with its investor summit

By Ramishah Maruf, CNN New York (CNN) — Santa may be a little short on helpers this Christmas. America’s retailers are expected to add just 410,000 seasonal positions for this year’s holiday shopping season, according to an estimate from outplacement services firm Challenger, Gray & Christmas. That would mark the industry’s lowest seasonal hiring total

By Clare Duffy, CNN New York (CNN) — Millions of Fortnite users can now claim their small part of the $245 million that the game’s parent company agreed to pay as part of a settlement with the US Federal Trade Commission. Epic Games in December settled allegations with the FTC that it used deceptive tactics

By Matt Egan, CNN New York (CNN Business) — Pain at the pump is returning across the United States, especially on the West Coast. In California, gas prices are rapidly approaching $6 a gallon. According to AAA, the state average has spiked by 31 cents in the past week alone, to $5.79 gallon. The move

By Liam Reilly, CNN (CNN) — Live sports is coming to Max. Warner Bros. Discovery announced Tuesday it will launch a live sports tier on its Max streaming service on October 5 that will give subscribers access to more than 300 live games a year. The “Bleacher Report Sports Add-On” will include a package of

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — The United Auto Workers union’s already unprecedented strike against General Motors, Ford and Stellantis could soon get even bigger. As the strike entered its fifth day Tuesday with the two sides apparently far apart, the union is threatening to expand the strike as soon

By Hanna Ziady, CNN London (CNN) — The UK government has moved to take control of the country’s second biggest city, Birmingham, after the local council effectively declared itself bankrupt earlier this month. In a letter to the council Tuesday, the government proposed appointing commissioners to take charge of the daily running of the local

By Olesya Dmitracova, CNN London (CNN) — Fraudsters have robbed Europe’s largest copper producer of €185 million ($198 million) worth of the metal, possibly with the help of insiders, the company said Tuesday. After carrying out an extraordinary inventory on August 31, Germany’s Aurubis found that it had paid inflated invoices for shipments of scrap

By Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve is expected to hold its benchmark lending rate steady this week as it waits for more data to understand how previous rate hikes are affecting the US economy. The central bank raised rates to a 22-year high in July. At the conclusion of its

By Allison Morrow, CNN New York (CNN) — Bankrupt crypto exchange FTX is suing founder Sam Bankman-Fried’s parents, accusing them of siphoning millions of dollars in company funds to enrich themselves and their “pet causes.” The lawsuit aims to recover funds that the company claims were “fraudulently transferred and misappropriated” by Bankman-Fried’s parents. Joe Bankman

CNN By Samantha Murphy Kelly, CNN Video by John General & Katherine Jennings, CNN (CNN) — The new iPhone 15 Pro lineup offers the typical slate of new features designed to persuade customers to upgrade: They’re slimmer and thinner than last year’s crop. The new cameras are professional-grade and the switch to USB-C charging will

By Samantha Murphy Kelly, CNN Video by John General & Katherine Jennings, CNN (CNN) — The new iPhone 15 Pro lineup offers the typical slate of new features designed to persuade customers to upgrade: They’re slimmer and thinner than last year’s crop. The new cameras are professional-grade and the switch to USB-C charging will make

By Anna Bahney, CNN Washington, DC (CNN) — US home building sank in August, dropping 11.3% from July levels, as mortgage rates stayed elevated amid lingering inflation. Housing starts, a measure of new-home construction, dropped to a seasonally adjusted annual rate of 1.283 million last month, well below expectations of 1.44 million, according to data

By Jordan Valinsky, CNN New York (CNN) — Instacart started trading Tuesday, opening at $42 per share and propelling the grocery-delivery company to a market valuation of just over $11 billion. Trading under the ticker CART, Instacart had set a price of $30 per share for its initial public offering. Instacart’s current valuation is a

By Michelle Toh, CNN Hong Kong (CNN) — One of China’s leading property developers, Sunac, has filed for bankruptcy protection in the United States, shortly after winning approval from its creditors to restructure nearly $10 billion worth of debt. The company filed a petition for Chapter 15 protection with the US Bankruptcy Court for the

By Parija Kavilanz, CNN New York (CNN) — Crayola, a name synonymous with vibrantly colored crayons for more than a century, is going into the flower business. The crayon maker, a subsidiary of Hallmark Cards, on Tuesday announced the launch of Crayola Flowers, an online flower shop selling bright bouquets and boxed flowers. But there’s

By Clare Sebastian and Niamh Kennedy, CNN London (CNN) — YouTube has decided to temporarily prevent comedian Russell Brand from making money from his videos following multiple allegations of rape and sexual assault against him. In a statement to CNN Tuesday, YouTube said it had “suspended monetization on Russell Brand’s channel” for violating its Creator

CNN By Clare Sebastian and Niamh Kennedy, CNN London (CNN) — YouTube is temporarily preventing comedian Russell Brand from making money from his videos following multiple allegations of rape and sexual assault against him. In a statement to CNN Tuesday, YouTube said it had “suspended monetization on Russell Brand’s channel” for violating its Creator Responsibility

By Clare Duffy, CNN New York (CNN) — Google’s Bard artificial intelligence chatbot is evolving. The company on Tuesday announced a series of updates to Bard that will give the chatbot access to Google’s full suite of tools — including YouTube, Google Drive, Google Flights and others — to assist users in a wider variety