Money

By Matt Egan New York (CNN) — Goldman Sachs is warning clients that Washington is on a collision course with its first government shutdown in five years. “The ingredients for a shutdown — a thin House majority, a dispute on spending levels and potential complications from various political issues — are present,” Goldman Sachs economists

By Jordan Valinsky, CNN New York (CNN) — The reign of “Barbie” is over. At least at the box office, anyway. For the first time since its July 21 release, the Greta Gerwig-directed film wasn’t the country’s top-grossing film for the weekend. Instead, DC’s superhero film “Blue Beetle” took its place and grossed an estimated

By Eva Rothenberg, CNN New York (CNN) — Retail experts have long sounded the alarm on malls in the US. But malls are not going extinct, they are merely adapting to a new environment. In fact, many have reported robust occupancy levels and bigger crowds than before the pandemic, according to a recent market analysis

By Anna Cooban, CNN London (CNN) — The dazzling success of weight-loss drugs in the United States is leading to lower interest rates in Denmark, home of one of their biggest manufacturers, according to the Nordic country’s biggest bank. Sales of Wegovy — which, clinical trials have shown, can help people lose 15% of their

By Nathaniel Meyersohn, CNN New York (CNN) — Ikea is opening a new store in downtown San Francisco Wednesday, bucking the trend of retailers closing in the city. Ikea will be the anchor tenant for a new mixed-use development on Market Street with retail, offices, restaurants and entertainment. City leaders are hopeful that the home

By Hanna Ziady, Tim Lister and Maria Kostenko, CNN London/Kyiv (CNN) — Ukraine is in talks with some of the world’s biggest insurance companies to cover ships traveling to and from its ports in the Black Sea — a crucial step toward a full resumption of vital grain exports around the globe. Work on an

WCCO By Jennifer Henderson and Ramishah Maruf, CNN New York (CNN) — Lyft and Uber threatened to stop doing business in Minneapolis after the city council adopted a new rule Thursday that would set a minimum wage for rideshare drivers. In a 7-5 vote, the Minneapolis City Council passed an ordinance that includes a number

By Peter Valdes-Dapena, CNN Business (CNN) — A hulk of dented, torn and scorched metal that was, decades ago, a Ferrari race car just sold at an RM Sotheby’s auction in California for $1.9 million. While that may be surprising, it’s not quite as horrible an investment as it looks, especially if the buyer is

By Nicole Goodkind, CNN New York (CNN) — Many investors are running a sizable profit this year – the S&P 500 is about 14% higher in 2023. But market losses have been piling up over the past month, particularly on growing fears of contagion from an economic slowdown in China. Inflation, Russia’s war in Ukraine

CNN By Samantha Delouya, CNN (CNN) — China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday. The beleaguered firm borrowed heavily and defaulted on its debt in 2021, sparking a massive property crisis in China’s economy, which continues to feel the effects. Evergrande filed for

By Samantha Delouya, CNN (CNN) — Amazon founder Jeff Bezos and his fiancée Lauren Sánchez are pledging $100 million dollars to recovery efforts in Maui, Sánchez announced Friday on her Instagram account. “Jeff and I are heartbroken by what’s happening in Maui,” Sánchez wrote. “We are thinking of all the families that have lost so

By Parija Kavilanz, CNN New York (CNN) — It’s Barbie’s world and you’re not escaping it. Pink, in all its rosy hues, has seeped into seemingly every aspect of our lifestyle — from shoes, clothing, candles and furniture to burgers, pasta and even Barbie sushi. Just this week, a restaurant in Los Angeles debuted a

By Clare Duffy, CNN New York (CNN) — X CEO Linda Yaccarino, leader of the platform formerly known as Twitter, said the company is keeping an eye on new competitor Threads, despite the sharply slowing growth of the rival app from Meta. “Threads did jump in with a ton of hype and a launch pad

By Nathaniel Meyersohn and Ellie Stevens, CNN New York (CNN) — The catastrophic wildfires in Maui have destroyed homes, churches, businesses and key cultural sites on Hawaii’s second-largest island. At least 36 people have died. The fires also threaten to derail Maui’s economy, just as it was rebounding from the pandemic. Maui’s economy depends heavily

CNN By Nathaniel Meyersohn and Ellie Stevens, CNN New York (CNN) — The catastrophic wildfires in Maui have destroyed homes, churches, businesses and key cultural sites on Hawaii’s second-largest island. At least 36 people have died. The fires also threaten to derail Maui’s economy, just as it was rebounding from the pandemic. Maui’s economy depends

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates remained elevated this week, rising for the third week in a row, but stayed just under the market’s 7% threshold. The 30-year fixed-rate mortgage averaged 6.96% in the week ending August 10, up from 6.90% the week before, according to data from Freddie Mac