By Matt McFarland, CNN Business The National Highway Traffic Safety Administration said Wednesday that it is investigating a Tesla crash in Newport Beach, California, this month that killed three people in the vehicle and injured three construction workers. The NHTSA team that conducts in-depth crash investigations is examining the crash’s circumstances, including whether Tesla’s driver-assist
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By Brian Fung, CNN Business Google, Facebook’s parent Meta, and Amazon could have to spin off chunks of their advertising businesses under Congress’s latest bill targeting Big Tech, according to the US senators behind the proposal. The bill introduced Thursday by Sens. Mike Lee, Amy Klobuchar, Ted Cruz and Richard Blumenthal zeroes in on the
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By Nathaniel Meyersohn, CNN Business In August of 2001, more than 100 people gathered on the East Side of Buffalo, New York. The setting, an empty lot in a nearly all-Black neighborhood of this upstate New York city, drew prominent visitors. They included Hillary Clinton and Chuck Schumer, the two US senators from the state
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By Peter Valdes-Dapena, CNN Business Ford is advising the owners of 39,013 Ford Expedition and Lincoln Navigator SUVs to park their vehicles outdoors because they could spontaneously catch fire. The specific full-sized SUVs in question were all built during a four-month period between December 1, 2020 and April 30, 2021, according to a Ford statement
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By Jackie Wattles, CNN Business Boeing launched its Starliner spacecraft, designed to ferry astronauts to and from the International Space Station, on an uncrewed test mission toward the orbiting outpost Thursday evening. After two prior attempts to complete such a mission failed, Boeing’s goal is to prove the spacecraft can dock with the ISS. It
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By Brian Fung, CNN Business Twitter will now apply warning labels to — and cease recommending — claims that outside experts have identified as misinformation during fast-moving times of crisis, the social media company said Thursday. The platform’s new crisis misinformation policy is designed to slow the spread of viral falsehoods during natural disasters, armed
Continue Reading By Nathaniel Meyersohn, CNN Business In August of 2001, more than 100 people gathered on the East Side of Buffalo, New York. The setting, an empty lot in a nearly all-Black neighborhood of this upstate New York city, drew prominent visitors. They included Hillary Clinton and Chuck Schumer, the two US senators from the state
Continue Reading By Nathaniel Meyersohn, CNN Business In August of 2001, more than 100 people gathered on the East Side of Buffalo, New York. The setting, an empty lot in a nearly all-Black neighborhood of this upstate New York city, drew prominent visitors. They included Hillary Clinton and Chuck Schumer, the two US senators from the state
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By Nathaniel Meyersohn, CNN Business In August of 2001, more than 100 people gathered on the East Side of Buffalo, New York. The setting, an empty lot in a nearly all-Black neighborhood of this upstate New York city, drew prominent visitors. They included Hillary Clinton and Chuck Schumer, the two US senators from the state
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By Jeanne Sahadi, CNN Business When it comes to fraying nerves, this spring is really outperforming. Stocks are now in bear market territory. Interest rates — and Covid cases — are climbing. Inflation remains high. Geopolitical unrest continues. And all of it combined is sparking recession fears. No one’s finances are immune. But there are
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By Anna Bahney, CNN Business Rents in the US climbed to a new record high again in April, and they are expected to keep rising. The national median rent was $1,827 a month in April, up 16.7% from a year ago, according to a report from Realtor.com. Rent has been steadily increasing since early last
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By Julia Horowitz, CNN Business Shares of retailers were pummeled on Wednesday as investors dug through the latest earnings results from Target and Walmart, which were flush with signs that the economy is entering a period of deep uncertainty. What’s happening: Inflation is already causing consumers to pull back spending on some items as they
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By Peter Valdes-Dapena, CNN Business James Bond, the fictional British secret agent, has driven lots of different cars in the more than two dozen films in the series. They’ve included everything from BMWs and Bentleys to Chevrolets and Fords. But one car in particular, the 1964 Aston Martin DB5, is known as the “the Bond
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By Anna Bahney, CNN Business Home sales fell for the third consecutive month in April as rising mortgage rates and affordability challenges pushed many would-be home buyers out of the market. Still, prices continued to climb, reaching an all-time high. The median price of a home in April was a record $391,200, rising 14.8% from
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By Anna Bahney, CNN Business Mortgage rates fell slightly last week, but purchasing a home still remains difficult for many prospective buyers. The 30-year, fixed-rate mortgage averaged 5.25% in the week ending May 19, down from 5.30% the week before, according to Freddie Mac. It is still well above the 3% average from this time
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By Paul R. La Monica, CNN Business The 2022 stock market meltdown may not be over just yet. Stocks fell again Thursday, following Wednesday’s massive sell-off. The Dow ended the day down more than 235 points, or 0.8%, recovering only slightly from a drop of nearly 475 points earlier in the session. The blue chips
Continue Reading By Julia Horowitz, CNN Business Shares of retailers were pummeled on Wednesday as investors dug through the latest earnings results from Target and Walmart, which were flush with signs that the economy is entering a period of deep uncertainty. What’s happening: Inflation is already causing consumers to pull back spending on some items as they
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By Jordan Valinsky, CNN Business Taco Bell’s highly anticipated Mexican Pizza finally returns to menus Thursday following a roughly two-year hiatus. The beloved menu item was eliminated in November 2020 as part of a broader culling of Taco Bell’s menu during the height of the pandemic. That helped Taco Bell shed complexities and costs. But
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By Chris Isidore, CNN Business How do you regulate a man worth more than $200 billion who thinks he knows better than everyone else? The simple answer is: You don’t. Elon Musk has once again proven he’ll do things his own way, announcing Friday that his $44 billion deal to buy Twitter is on hold.
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By Laura He, CNN Business Asian markets mostly closed lower on Thursday and European indexes slid in early trade following a rough day on Wall Street. Hong Kong’s Hang Seng tumbled 2.5%, leading losses in the region. Japan’s Nikkei also dropped nearly 2%. China’s Shanghai Composite Index fell as much as 1.4% before reversing in
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