Money

By Laura He, CNN Hong Kong (CNN) — Norges Bank Investment Management (NBIM), which operates the world’s largest sovereign wealth fund, has started the process of closing down its office in Shanghai, in another sign of big global companies pulling back operations in the world’s second largest economy. The firm, which manages Norway’s $1.4 trillion

By Rob McLean, CNN New York (CNN) — Square, the digital payments company, experienced outages on several services Thursday. “We are currently experiencing issues with multiple Square services. We understand how important it is for your business that our services be up and running, and we are actively working toward a fix,” the company tweeted

By Juliana Liu and Yoonjung Seo, CNN Hong Kong/Seoul (CNN) — SK Hynix, a South Korean chipmaker, is investigating how two of its memory chips mysteriously ended up inside the Mate 60 Pro, a controversial smartphone launched by Huawei last week. Shares in Hynix fell more than 4% on Friday after it emerged that two

CNN By Laura He, CNN Hong Kong (CNN) — China’s exports of two rare minerals essential for manufacturing semiconductors fell to zero in August, a month after Beijing imposed curbs on sales overseas, citing national security. China produces about 80% of the world’s gallium and about 60% of germanium, according to the Critical Raw Materials

By Sara Smart, CNN (CNN) — Tortilla chip brand Paqui says it is voluntarily removing its ultra-spicy “One Chip Challenge” from shelves after a Massachusetts family claims their 14-year-old son may have died from complications from the challenge. Authorities have not confirmed or commented on whether consumption of the chips caused the teen’s death. Paqui

By Laura He, CNN Hong Kong (CNN) — Chinese makers of electric vehicles have come out in force for this week’s IAA Mobility auto show in Munich, Germany. About 50 companies — including heavyweight BYD and upstarts like Xpeng — have traveled to the city, according to China’s state media, about twice as many as

By Samantha Delouya, CNN (CNN) — Walt Disney Parks and Resorts has amended its lawsuit against Florida Governor Ron DeSantis and his hand-picked oversight board, dropping all of its claims except one. The lawsuit, filed in federal court, now focuses solely on the claim that DeSantis and his allies allegedly weaponized their political power to

By Samantha Delouya, CNN (CNN) — Party City exited bankruptcy on Wednesday after a US judge signed off on the retailer’s reorganization plans. The plan cancels nearly $1 billion of Party City’s debt, and while some of Party City’s nearly 800 US stores will close due to the bankruptcy agreement, the majority will stay open,

By Oliver Darcy, CNN (CNN) — Jen Psaki’s cable news show is expanding into prime time. The former White House press secretary turned MSNBC personality will begin hosting the network’s Monday 8pm ET hour starting on September 25. Psaki has hosted “Inside with Jen Psaki” on Sundays at 12pm ET since the spring of this

By Nicole Goodkind, CNN New York (CNN) — Shares of Apple fell by 2.9% on Thursday following reports that China plans to expand a ban on the use of iPhones to government-backed agencies and companies. Investors are fretting over the ability of the world’s most valuable public company to do business in the world’s second-largest

By Jeanne Sahadi, CNN New York (CNN) — The phrase “pension benefits” may come up a lot in the next several days as negotiations between the United Auto Workers union and the Big Three automakers go down to the wire to avert a strike. But for most private-sector US workers, pensions disappeared long ago. In

CNN By Elisabeth Buchwald, CNN New York (CNN) — There are many reasons why gas prices could shoot up in the near future, but the Biden administration’s ban on oil drilling on millions of acres in Alaska in unlikely to be one of them. The ban, announced on Wednesday, cancels seven Trump-era oil and gas

By Elisabeth Buchwald, CNN New York (CNN) — There are many reasons why gas prices could shoot up in the near future, but the Biden administration’s ban on oil drilling on millions of acres in Alaska in unlikely to be one of them. The ban, announced on Wednesday, cancels seven Trump-era oil and gas leases

By Nathaniel Meyersohn, CNN New York (CNN) — You’re going to need a play-call sheet to keep track of where to watch the National Football League on television this season. The NFL season kicked off Thursday night with the Detroit Lions winning a surprise upset over the reigning Super Bowl champion Kansas City Chiefs.(NBC and

By Krystal Hur, CNN New York (CNN) — Taylor Swift’s fans know the greatest films of all time were never made, but that could be called into question come October 13, when her Eras Tour concert movie is set for release in North America. The bigger question might be: Why did Swift decide to release

By Parija Kavilanz, CNN New York (CNN) — Pinterest on Thursday said it has harnessed AI to develop technology that would deliver greater representation of diverse body types in its search results. Using shape, size and form to identify body types in images, the new body-type technology lets people search results that show bodies like

By Lauren Kent London (CNN) — The CEO of Ryanair, Michael O’Leary, was pied in the face during a Thursday visit to Brussels in a stunt by climate activists. O’Leary was outside the European Commission preparing to deliver a petition calling for “overflights” to be protected during air traffic control strikes when he was hit

By Bryan Mena, CNN Washington, DC (CNN) — After a summer of robust consumer spending, America’s bars, hotels and restaurants say the era of post-pandemic splurging by US consumers has likely drawn to a close. That includes “revenge travel” — a phenomenon in which consumers spent big on dining out and travel to make up

By Kara Scannell, CNN New York (CNN) — Ryan Salame, a former top executive of FTX, the now-bankrupt cryptocurrency trading platform, has pleaded guilty to criminal charges in a New York courtroom on Thursday afternoon. He has also agreed to forfeit $1.5 billion. The plea comes less than one month before Sam Bankman-Fried, co-founder of

By Clare Duffy, CNN New York (CNN) — Snapchat says it’s working to make its app even safer for teen users. Parent company Snap said Thursday that it is rolling out a suite of new features and policies aimed at better protecting 13- to 17-year-old users, including restrictions on friend suggestions and a new system