Money

By Laura He, CNN Hong Kong (CNN) — Bao Fan, a star Chinese tech banker who disappeared a year ago amid Beijing’s anti-corruption crackdown, has formally resigned from the firm he founded, the company said. China Renaissance announced in a filing to the Hong Kong stock exchange on Friday that Bao was stepping down as

By David Goldman, CNN New York (CNN) — For the first time, an advertising company that worked on Purdue Pharma’s OxyContin account has settled a lawsuit that accused it of falsely marketing opioids as safe. Publicis, a French marketing company, agreed to pay $350 million within the next two months and will not take on

By Ramishah Maruf, CNN New York (CNN) — Tesla CEO Elon Musk has a new social media target: Diversity, Equity and Inclusion. Following Musk’s recent critical posts about DEI policies and racial discrimination lawsuits against Tesla, the electric car company has omitted all language regarding minority workers and outreach to minority communities in its 10-K

By Brian Fung, CNN Washington (CNN) — Wednesday’s emotional Senate Judiciary Committee hearing grilling tech CEOs focused on Silicon Valley’s failures to protect kids online. But it also spotlighted Congress’ own glaring — and longstanding — inability to pass any meaningful legislation to rein in tech platforms. According to more than a half-dozen front-line participants in the

By Riley Gutiérrez McDermid and Samantha Delouya, CNN (CNN) — Apple has finally ended its losing streak. The company reported its first sales growth in a year on Thursday, boosted in particular by record revenue from its App Store and other services. But it’s still encountering difficulty in China. The earnings report comes one day

By Clare Duffy, CNN New York (CNN) — Meta’s “year of efficiency” paid off in a big way. And it offered a sweetener for investors, sending its stock surging. The tech giant on Thursday reported that profit from the three months ended in December grew more than 200% year-over-year to $14 billion, exceeding Wall Street

By Catherine Thorbecke, CNN New York (CNN) — Holiday shoppers powered strong revenue growth for Amazon last quarter, the company said Thursday, the same day it launched a new AI shopping assistant. The e-commerce leader on Thursday reported revenue of $170 billion for its quarter ending in December, beating Wall Street’s estimates and growing 14%

By Jeanne Sahadi, CNN New York (CNN) — You may be among the millions of people nationwide who have cash or assets waiting to be claimed. That is the message Thursday from state treasurers across the US in honor of Unclaimed Property Day, a reminder that your current state (or former one) wants to reunite

By Samantha Delouya, CNN (CNN) — Disney is appealing a major setback earlier this week in its ongoing legal and political battle with Florida’s Republican governor Ron DeSantis. On Thursday, Disney filed a notice of appeal, challenging a Florida federal judge’s decision to throw out its case accusing DeSantis of punishing Disney for exercising its

By Jordan Valinsky, CNN New York (CNN) — Peloton shares slid more than 20% Thursday after the fitness company said it expects to report another loss in the current quarter and is trimming its full-year revenue forecast, signaling that its several years-long turnaround is spinning out. CEO Barry McCarthy wrote in a letter to investors

By Anna Cooban, CNN London (CNN) — Nearly a year on from a banking crisis that led to the collapse of three US regional lenders and the emergency takeover of Credit Suisse in Europe, a fresh chill is running through banks as far apart as New York, Tokyo and Zurich. Common to all of them

By Hanna Ziady, CNN London (CNN) — Russian assets frozen in European accounts are generating billions of dollars in interest payments that could be diverted to help repair Ukraine’s war-torn economy — and the European Union just took a step closer to doing that. After Russia’s full-scale invasion of Ukraine in February 2022, Western countries

By Alicia Wallace, CNN New York (CNN) — On Friday, the Bureau of Labor Statistics will deliver the first jobs report for 2024, and it’s expected to underscore the strength of the US economy despite 11 rate hikes from the Federal Reserve. The labor market snapshot comes just days after Fed Chair Jerome Powell said

By Anna Cooban, CNN London (CNN) — Universal Music Group has pulled its music off TikTok in a dispute over royalties, a move that prevents more than 1 billion users of the platform from streaming a vast catalog of songs by Taylor Swift, Ariana Grande, Rihanna and other artists. Many TikTok videos featuring Universal artists’ music went

By Parija Kavilanz, CNN New York (CNN) — The Super Bowl is no joke for Tod Steward. He’s hosted a viewing party at his downtown Seattle condo for the past 14 years. It’s become a tradition for him and his circle of friends. Other than the game itself, it’s his steaks that get the loudest

By Jordan Valinsky, CNN New York (CNN) — Unexpected demand for Subway’s new footlong cookies has created a big cookie shortage, driving the new snack off the menu less than two weeks after its big debut. The sandwich chain announced Thursday that its new Sidekick lineup, which also consists of a Cinnabon churro and a

Analysis by Oliver Darcy, CNN New York (CNN) — Far-left woke mobs ravaging the country. Hordes of illegal immigrants invading the southern border. Gender ideology warping young minds in schools. Sinister globalists plotting in the shadows. These are the toxic themes espoused in right-wing media, delivered each day through a mix of internet pipelines and