Money

By Juliana Liu, CNN Hong Kong (CNN) — Chinese electric vehicle (EV) maker Nio has secured $2.2 billion in investment from CYVN Holdings of Abu Dhabi, giving the Tesla challenger a longer financial runway as it seeks to make inroads in an increasingly competitive market. The deal, which follows a previous $1 billion investment from

By Jennifer Korn, CNN (CNN) — Autonomous vehicle startup May Mobility announced its first fully driverless ride service Monday, offering human-free transit to those living in an Arizona retirement community. Retirees in Sun City, Arizona, are the first to test the Toyota-backed company’s autonomous cars without a human safety operator in the driver’s seat, the

By Chris Isidore, CNN New York (CNN) — The days may be numbered for an independent, American-owned, US Steel, a one-time backbone of the nation’s economy. US Steel was once the most valuable company in the world. Monday, it agreed to be purchased for $14.1 billion, or $55 a share, by Nippon Steel, Japan’s largest

By Rene Marsh, Casey Tolan and Audrey Ash, CNN (CNN) — The largest credit union in the US is facing new scrutiny over racial disparities in its mortgage lending following a CNN investigative report, with a class-action lawsuit filed Monday alleging the lender discriminated against Black and Latino applicants, and a senior congressional Democrat demanding answers

By Oliver Darcy, CNN New York (CNN) — Puck is stepping into the sports arena. The buzzy digital subscription publication that offers readers an inside look into the media, technology, and politics sectors — and the ego-obsessed titans who lead them — told CNN on Monday it had hired veteran journalist John Ourand to lead a

By Eva Rothenberg, CNN New York (CNN) — Nikola founder Trevor Milton was sentenced Monday to four years in prison for lying to investors about the company’s hydrogen and electric truck technology. The sentence is significantly lower than the 11-year sentence federal prosecutors were seeking. Milton was facing up to 60 years behind bars if

By Matt Egan, CNN New York (CNN) — The rail industry is demanding the Biden administration immediately allow trains to cross the southern border with Mexico that officials shut in response to a surge in crossings by migrants. The Association of American Railroads, an industry trade group, issued a statement on Monday warning the suspension of

By Allison Morrow, CNN New York (CNN) — The crypto industry, ready to turn the page on 2023 and all the Sam Bankman-Fried-related drama that came with it, has been funneling tens of millions of dollars into a political war chest to help prop up pro-crypto candidates. On Monday, a network of political action committees

CNN By Pete Muntean and Chris Isidore, CNN Washington (CNN) — The federal government is fining Southwest Airlines $140 million for last year’s historic, 10-day-long holiday meltdown that stranded more than 2 million travelers. The Department of Transportation’s announcement of its largest-ever civil penalty comes about one year after cascading issues at Southwest led to

The European Union has opened a formal investigation into X over its content moderation practices, a probe that could eventually lead to steep fines or other penalties under a new EU law.

By Samantha Murphy Kelly, CNN New York (CNN) — Apple plans to stop selling some versions of the Apple Watch in the United States as soon as this week to get ahead of what could be one of the most momentous patent disputes in years. The company confirmed to CNN it will no longer be

By Anna Cooban, CNN London (CNN) — Goldman Sachs has cut its forecast for the average oil price next year by 12%, citing abundant production in the United States. The Wall Street bank wrote in a note Sunday that it now expects Brent, the global oil benchmark, to average $81 a barrel in 2024, down

By Anna Bahney, CNN Washington, DC (CNN) — Homebuilder confidence improved in December as mortgage rates continued to fall, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Monday. Builder confidence in the market for newly built single-family homes rose for the first time in four months, climbing to 37 on the

By Jordan Valinsky, CNN New York (CNN) — A cyberattack last week at VF Corp., which owns a number of clothing brands including the North Face, Vans and Timberland, is hampering its ability to fulfill orders ahead of Christmas. The company had said it “detected unauthorized occurrences” on its information technology systems, which disrupted its

By Hanna Ziady, CNN London (CNN) — Oil and natural gas prices rose sharply Monday after BP (BP) said it would pause all shipments through the Red Sea because of increased attacks on commercial vessels by Houthi militants from Yemen. The decision by one of the world’s biggest oil companies follows similar moves by major

By Chris Isidore, CNN New York (CNN) — US Steel has agreed to be bought by Nippon Steel, Japan’s largest steelmaker, in a $14.1 billion deal. The deal marks the latest step in a gradual decline for the iconic 122-year old company, which was once the largest company on the planet. It was one of

By Peter Valdes-Dapena, CNN (CNN) — Certainly, Young Liu has heard the auto industry cliche that modern vehicles are “iPhones on wheels.” Cars and SUVs are packed with computer chips, sophisticated sensors, touchscreens and data connections. Liu knows a lot about iPhones. As a manufacturer for Apple, the company he runs as CEO, Hon Hai

By Pete Muntean and Chris Isidore, CNN Washington (CNN) — The federal government is fining Southwest Airlines $140 million for last year’s historic, 10-day-long holiday meltdown that stranded more than 2 million travelers. The Department of Transportation’s announcement of its largest-ever civil penalty comes about one year after cascading issues at Southwest led to the

By Eva Rothenberg, CNN New York (CNN) — “Wonka,” the whimsical origin story of the fictional chocolatier, secured the top spot in domestic theaters this weekend with an estimated $39 million in sales. The musical fantasy film beat out another prequel, “Hunger Games: A Ballad of Songbirds and Snakes,” for the No. 1 slot and

By Nicole Goodkind, CNN New York (CNN) — Shares of ride-hailing app Uber reached a new 52-week high last week as the San Francisco-based firm prepares to make its S&P 500 debut in Monday trading. “Super proud of the Uber team for S&P 500 inclusion,” wrote CEO Dara Khosrowshahi on X. “Great way to head into