Money

By Anna Cooban, CNN London (CNN) — Some of Europe’s biggest banks are setting aside more cash to absorb potential losses on loans, as rising interest rates increase pressure on borrowers. UK-based Barclays reserved £896 million ($1.2 billion) in the first half of this year to cover possible defaults by borrowers, more than double the

By Krystal Hur, CNN New York (CNN) — The Dow slipped on Thursday, snapping a 13-day winning streak. The blue-chip index fell 237 points after being on track to close higher for a 14th consecutive session. That would have marked the Dow’s longest run of consecutive gains since May 1897. If the Dow had closed

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates moved higher this week following the Federal Reserve’s rate hike, after dropping last week. The 30-year fixed-rate mortgage averaged 6.81% in the week ending July 27, up from 6.78% the week before, according to data from Freddie Mac released Thursday. A year ago, the

By Chris Isidore, CNN New York (CNN) — The end may be close for Yellow Corp, a nearly century-old trucking company with 30,000 employees. The company narrowly avoided a fatal strike by the Teamsters earlier this week after Yellow missed payments to pensions and healthcare funds, as the union agreed to give it extra time

CNN, CNN BUSINESS By Brian Fung, CNN Washington (CNN) — Thousands of published authors are requesting payment from tech companies for the use of their copyrighted works in training artificial intelligence tools, marking the latest intellectual property critique to target AI development. The list of more than 8,000 authors includes some of the world’s most

CNN By Caolán Magee, CNN (CNN) — A first-edition 2007 Apple iPhone has sold for more than $190,000 at auction, far exceeding the estimate. Dubbed the “Holy Grail” by auctioneer LCG Auctions, the 4GB model was expected to fetch in the region of $50,000-$100,000. But after attracting 28 bids online, the phone’s value quickly rose

By Marshall Cohen Dominion Voting Systems can’t bring up the January 6 insurrection during its upcoming defamation trial against Fox News, a Delaware judge ruled Tuesday, who also revealed at a hearing that he has been receiving death threats. The voting technology company sued Fox News over the right-wing network’s promotions of false claims that

By Parija Kavilanz, CNN Louis Vuitton, Chanel, Gucci, step aside. Resale clothing shoppers are bypassing previously-owned luxury brands at discounted prices in favor of scoring secondhand mid-tier brands for less. More affordable brands, such as Madewell, Zara, Urban Outfitters, Free People, Anthropologie, Abercrombie & Fitch and Levi’s are now the most popular brands with the

By Alicia Wallace, CNN US Treasury Secretary Janet Yellen said she believes the American economy remains strong and its banking system is resilient despite some recent turmoil among regional financial institutions. “I’ve not really seen evidence at this stage suggesting a contraction in credit, although that is a possibility,” Yellen said at a press conference

By Jordan Valinsky, CNN The distinctive gas grills in Chipotle restaurants might be a thing of the past. On Tuesday, the fast casual Mexican chain unveiled an all-electric restaurant design that is completely powered by renewable energy, such as solar and wind. That means the gas grills that have become the focal point for walk-in