Money

By Bryan Mena, CNN Washington, DC (CNN) — Spending at US retailers rebounded in November after declining in October, pointing to the continued resilience of the US consumer and a strong start to the holiday season. Retail sales, which are adjusted for seasonal swings but not inflation, rose 0.3% in November from the prior month,

By Clare Duffy, CNN New York (CNN) — Threads on Thursday became available to users in the European Union, dealing yet another likely blow to X from a rival platform. Threads teased the EU launch earlier this week by showing an untitled countdown timer to residents in the region who visited the site. Meta, controlled

By Matt Egan and Samantha Delouya, CNN Washington, D.C. (CNN) — Treasury Secretary Janet Yellen is on a mission to repair the fragile yet vital relationship between the United States and China. That mission will kick into high gear next year. Yellen revealed her 2024 US-China gameplan in a major speech to business leaders on

By Laura He, CNN Hong Kong (CNN) — China’s regional governments have issued a record amount of special bonds to support troubled smaller banks, as they try to fend off potential systemic risks that could be triggered by a prolonged real estate crisis. So far this year, at least 15 provinces have issued 205 billion

By Diksha Madhok, CNN (CNN) — China has overtaken the United States as the biggest branded coffee shop market in the world by outlets, according to a report by World Coffee Portal. The number of branded coffee shops in the world’s second largest economy grew by 58% over the past 12 months to reach 49,691

By Samantha Delouya, CNN (CNN) — Stanford University; the University of California, Los Angeles; and Rutgers University have been added to a growing list of schools that face federal discrimination investigations by the US Department of Education, according to a DOE site. In the past week, the department opened investigations into six additional schools for

By Anna Bahney, CNN (CNN) — There is no doubt rent is too high for many Americans, but thanks to a recent boom in the construction of apartment buildings, lower mortgage rates, and the Federal Reserve’s success in curbing inflation, rents are beginning to come down in some places, including Manhattan. In the New York

By Nicole Goodkind, CNN New York (CNN) — US markets soared higher on Wednesday afternoon following the Federal Reserve’s final policy decision of the year. The Dow rose 1.4%, closing at 37,090.24 and blazing past its previous record high of 36,799.65, reached nearly two years ago. The S&P 500 was up 1.4% and the Nasdaq

By Samantha Murphy Kelly, CNN (CNN) — When ChatGPT launched late last year, some high schools quickly developed strict policies to prohibit students from using the powerful AI chatbot tool over fears of cheating on assignments. But now a new study from researchers at Stanford reveals the percentage of high school students who cheat remains

By Jeanne Sahadi, CNN New York (CNN) — For the third time in a row, the Federal Reserve on Wednesday decided not to raise (or lower) its key interest rate. Consequently, the Fed’s benchmark lending rate will remain at its highest level in 22 years. Given that the Fed influences — directly or indirectly —

By Brian Fung, CNN Washington, DC (CNN) — The US government proposed a crackdown on cable television companies’ billing practices Wednesday as it announced plans to ban early-termination fees and to introduce fresh rules that could lead to consumer refunds if a subscriber cancels a plan mid-month. The proposal by the Federal Communications Commission would impose new

By Jordan Valinsky, CNN New York (CNN) — Former BP CEO Bernard Looney is forfeiting about $40 million in severance because the company’s board determined he engaged in “serious misconduct” for not fully disclosing his relationships with employees that led to his dismissal. “Following careful consideration, the board has concluded that, in providing inaccurate and

By Jon Passantino, CNN New York (CNN) — OpenAI will pay publishing giant Axel Springer to use its news content in the company’s artificial intelligence products, marking a “first of its kind” global publishing deal that will allow the ChatGPT creator to train its AI models on the news organization’s reporting. As part of the

By Elisabeth Buchwald, CNN New York (CNN) — Inflation slowed down again in November, with prices across all goods and services rising at a weaker pace of 3.1% on an annual basis, according to the latest Consumer Price Index. That’s a big improvement from November 2022 when prices rose at a pace of 7.1% compared

By Jennifer Korn, CNN New York, NY (CNN) — Apple is rolling out an iPhone security update to keep thieves out of your device. Serving as an extra layer of protection for the vast amount of personal data kept on iPhones, the new feature intends to keep criminals out by adding additional steps to access

By Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve has a lot of sway over the US economy and financial markets. But there’s one thing it doesn’t have: the ability to get interest rates to the exact level it wants. How could that be? Doesn’t the Federal Reserve control interest rates? Actually, no,

By Matt Egan, CNN New York (CNN) — J. Larry Jameson, the University of Pennsylvania’s newly installed interim president, called the past few weeks of turmoil a “profoundly painful chapter” for the Ivy League school. Jameson, UPenn’s longest-serving dean, was tapped Tuesday to replace Liz Magill on an interim basis after she stepped down over

By Alaa Elassar, CNN (CNN) — Haraz Coffee House in Dearborn, Michigan, is usually teeming with customers eager for a taste of its delicious Yemeni coffee – but on Monday there wasn’t a single person in sight. The popular café on Michigan Avenue was closed, as its owner and employees participated in a global strike

By Mark Thompson, CNN London (CNN) — Airbnb has agreed to pay 576 million euros ($621 million) to settle a longstanding dispute over unpaid taxes in Italy. Italian prosecutors said last month that the company owed as much as €779 million ($840 million) in short-term rental taxes that it had failed to pay on behalf

By Alicia Wallace, CNN New York (CNN) — Tumbling energy prices helped to bring US wholesale inflation down below pre-pandemic levels and to its second-lowest rate this year. The Producer Price Index, which measures the average price changes that businesses pay to suppliers, rose at a slower pace of 0.9% for the 12 months ended