Money

By Matt Egan, CNN New York (CNN) — Treasury Secretary Janet Yellen detailed on Tuesday the scramble by US officials last March to prevent the implosion of Silicon Valley Bank from infecting the broader economy. “I will never forget it,” Yellen told lawmakers during a hearing before the House Financial Services Committee, referring to the

CNN By Alicia Wallace, CNN New York (CNN) — Americans — particularly Millennials and those with lower incomes — are becoming increasingly overextended financially: Credit card and auto loan delinquencies have not only surpassed pre-pandemic levels, they’re the highest they’ve been in more than a decade. During the fourth quarter, US household debt hit a

By Alicia Wallace, CNN New York (CNN) — Americans — particularly Millennials and those with lower incomes — are becoming increasingly overextended financially: Credit card and auto loan delinquencies have not only surpassed pre-pandemic levels, they’re the highest they’ve been in more than a decade. During the fourth quarter, US household debt hit a fresh

By Catherine Thorbecke, CNN (CNN) — Attorneys for Taylor Swift are threatening legal action against the Florida college student who tracks the private jets of celebrities and public figures, including Swift. Jack Sweeney confirmed to CNN on Tuesday that he received a cease-and-desist letter threatening legal action from attorneys for Swift about the social media

By Chris Isidore, CNN New York (CNN) — Basketball players at Dartmouth will get a chance to vote on whether to join a union, a potential breakthrough in efforts to unionize the lucrative business of college sports. The decision to hold the vote was announced late Monday by the National Labor Relations Board, which oversees

By Pete Muntean, Gregory Wallace and Chris Isidore, CNN (CNN) — Investigators from the National Transportation Safety Board on Tuesday said evidence shows four bolts that hold the door plug in place on the Boeing 737 Max 9 were missing at the time of last month’s blowout on Alaska Airlines flight 1282. The new finding from

By Chris Isidore, CNN New York (CNN) — Spirit AeroSystems, the troubled Boeing supplier which builds fuselages and other parts for the company, reported its first adjusted quarterly profit since the start of 2022, helped by increased payments from Boeing. But the continued quality and safety problems at Boeing, and at Spirit AeroSystems, caused the

By Jordan Valinsky, CNN New York (CNN) — Bud Light is back at the Super Bowl, this time with a funny “genie” to grant drinkers’ wishes. The beleaguered beer brand could have used a few miracles itself after one of its rockiest years ever. The 60-second spot, called “Easy Night Out,” is part of Bud

By Clare Duffy, CNN New York (CNN) — Meta says it’s working to identify and label AI-generated images shared on its platforms that were created by third-party tools, as the company prepares for the 2024 election season amid a proliferation of artificial intelligence tools that threaten to muddy the information ecosystem. In the coming months,

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. President Joe Biden will be sitting on the sidelines this Sunday as the campaign for the 2024 election heats up. The White

By Andy Rose and Sara Smart, CNN (CNN) — A children’s hospital in Chicago is still trying to restore its computer systems nearly a week after a cybersecurity incident prompted it to shut down its network. Lurie Children’s Hospital says the outage has affected email, phones and some other electronic systems. The hospital remains operational,

By Laura He, CNN Hong Kong (CNN) — Chinese stocks staged their biggest rally in years Tuesday, after the country’s sovereign wealth fund said it would step up buying shares as officials scramble to draw a line under a three-year market rout. The Shanghai Composite, mainland China’s benchmark index for large state-owned companies and blue-chip stocks,

By Gawon Bae, CNN Seoul (CNN) — A South Korean company is ready to pay millions of dollars to help fix the country’s abysmally low birth rate. Booyoung Group, a construction firm based in Seoul, plans to pay employees 100 million Korean won ($75,000) each time they have a baby, it said in a press release

By Hanna Ziady, CNN London (CNN) — UBS has deepened a cost cutting drive launched after its emergency acquisition of rival Credit Suisse, as it slashes thousands of jobs and tries to boost earnings to make sure the mammoth deal pays off. The Swiss lender said Tuesday that it was now targeting $13 billion in

By Juliana Liu and Chie Kobayashi, CNN Hong Kong/Tokyo (CNN) — One of Japan’s biggest trading firms, Itochu, has decided to end its partnership with a major Israeli defense company due to the war in Gaza. The sprawling conglomerate, best known outside Japan for its Family Mart chain of convenience stores, said its aviation unit

By Laura He, CNN Hong Kong (CNN) — A Chinese court has handed a suspended death sentence to Tian Huiyu, an ex-president of China Merchants Bank and previously the right-hand man of the country’s former economic tsar, on charges including bribery and insider trading. The sentence comes as Chinese leader Xi Jinping steps up his

By Samantha Murphy Kelly, CNN (CNN) — More people who are still using telephone landlines will soon need to decide if they want to finally hang up on their service. Just last week, AT&T applied for a waiver that would allow it to stop servicing traditional landlines in California. AT&T and Verizon previously stated they

By Allison Morrow, CNN New York (CNN) — Tesla shares fell nearly 4% Monday after a Wall Street Journal report shed light on Elon Musk’s unusually close personal and financial ties with members of the carmaker’s board of directors, fueling concerns on Wall Street about a lack of real oversight on one of the world’s

By Brian Fung, CNN Washington (CNN) — A blockbuster lawsuit by the US government against Google’s ad business will go to trial in September, according to a federal judge. The trial is scheduled to begin on Sept. 9, District Judge Leonie Brinkema said in court documents filed Monday in the US District Court for the