Money

By Matt Egan, CNN New York (CNN) — A top US Treasury official is heading to Hong Kong as the White House continues its quest to ease tensions with Beijing and avoid a destabilizing crisis. Joining a growing list of US officials visiting the region, Assistant US Treasury Secretary Brent Neiman is traveling to Hong

By Matt Egan, CNN New York (CNN) — Online shoppers were greeted by rapidly falling prices in August, marking another positive sign in the fight against inflation. E-commerce prices tumbled by 3.2% year over year in August, Adobe Analytics said on Tuesday. That’s the biggest annual drop in 40 months, or just over three years.

By Jordan Valinsky, CNN New York (CNN) — McDonald’s is getting rid of one of its biggest perks. The fast food chain is eliminating its self-serve soda machines by 2032 at its US restaurants, the company said, explaining that the change will make the experience consistent for customers and crew across the chain. For decades,

By Chris Isidore, CNN New York (CNN) — Shawn Fain is one of the most important people in the US economy today. A year ago, almost no one knew who he was. The new president of the United Auto Workers union, sworn into office less than six months ago, could lead strikes by 145,000 members

By Samantha Murphy Kelly and Clare Duffy, CNN (CNN) — Apple unveiled its iPhone 15 lineup along with other major updates during its September keynote event on Tuesday. The company announced it will switch to USB-C charging from its proprietary Lightning charging cable with the iPhone 15, marking a milestone for the company by adopting

By Bryan Mena, CNN Washington (CNN) — America’s small businesses felt gloomier in August as they continued to struggle with inflation and hiring qualified workers, according to a survey from the National Federation of Independent Business released Tuesday. Optimism among more than 600 small businesses surveyed declined in August from the prior month, snapping a

By Danielle Wiener-Bronner, CNN New York (CNN) — For about a year and a half, Coca-Cola has experimented with limited-edition beverages that have mystery tastes — most of them with vague, futuristic concepts and undisclosed flavors. The latest one, Coca-Cola Y3000, fits the bill. The one distinction: It’s supposed to taste like the future. Fittingly,

By Laura He, CNN Hong Kong (CNN) — Alibaba Group will embrace artificial intelligence (AI) and promote younger people to senior management, its new CEO says, as the e-commerce and cloud giant tackles its most ambitious restructuring in its history. “Times are changing, and so must Alibaba!” Eddie Wu, who stepped into the chief executive

By Laura He, CNN Hong Kong (CNN) — One of China’s most popular livestreamers has offered a teary apology after getting into a viral online spat in which he questioned whether a viewer had been working “hard enough” to make enough money to afford a product he was selling. The backlash highlighted the ongoing economic

By Oliver Darcy, CNN (CNN) — Walter Isaacson’s highly anticipated biography on Elon Musk is hitting shelves on Tuesday — and he is already walking back a major claim. Isaacson reported in his book that Musk had abruptly turned off Ukraine’s access to his Starlink satellite internet system last year just as the country was

By Kathleen Magramo Hong Kong (CNN) — Philippine Nobel Peace laureate Maria Ressa was acquitted of tax evasion Tuesday, according to her news site Rappler, in the latest legal victory for the veteran journalist. Ressa and Rappler are now cleared of all five tax-related charges filed during the administration of former President Rodrigo Duterte, according

By Chris Isidore, CNN New York (CNN) — United Auto Workers President Shawn Fain denied Monday the broad economy will be hurt if his union goes on strike against the nation’s three unionized automakers as soon as this week, saying the only ones that will be hurt by a work stoppage is are the “billionaire

CNN By Chris Isidore and Vanessa Yurkevich, CNN Detroit (CNN) — With less than a day to go before labor contracts expire at General Motors, Ford and Stellantis, the only certainty is that all 145,000 United Auto Workers at those companies will not strike on Friday. But there’s a good chance at least some of

By Catherine Thorbecke, CNN (CNN) — Threads, the much-hyped social media app from Facebook-parent Meta, is taking heat for blocking searches for “coronavirus,” “Covid,” and other pandemic-related queries. The tech giant’s decision to block coronavirus-related searches on its service comes as the United States deals with a recent uptick in Covid-19 hospitalizations, per CDC data,

By Samantha Delouya, CNN (CNN) — DraftKings issued an apology Monday after offering a 9/11-themed bet in its app. The wager, bearing the title “Never Forget,” was a parlay bet that the New York Mets, New York Yankees and New York Jets would win their respective games on Monday, September 11, according to a screenshot

By Andi Babineau and Natasha Chen, CNN (CNN) — MGM Resorts has shut down some of its systems as a result of a “cybersecurity issue,” according to a company social media post on Monday. Late Tuesday, the company posted an update, saying that its resorts’ dining, entertainment, and gaming “are currently operational.” The statement also

By Oliver Darcy, CNN (CNN) — Disney and Charter Communications announced on Monday that the companies had struck a “transformative agreement” to end a closely watched carriage dispute, a move that will restore access to channels like ESPN and ABC to the nation’s second largest cable television provider’s nearly 15 million subscribers. As part of

By Matt Egan, CNN New York (cnn) — Fueled by a resurgent stock market and rising home values, US household wealth hit a record $154.3 trillion during the second quarter of this year, according to federal data. Consumer wealth has now completely recovered from the recent inflation-driven drop in stock prices and real estate holdings.

By Catherine Thorbecke, CNN New York (CNN) — Tesla’s Dojo supercomputer could fuel a $500 billion jump in the electric vehicle maker’s market value, analysts at Morgan Stanley said in a note Monday. Shares of Tesla jumped more than 6% during early trading Monday morning, on the heels of the rosy prediction from Morgan Stanley’s

By Paul Glader, CNN (CNN) — Bill Gates went to see Elon Musk in 2022, hoping to convince the fellow billionaire to give away more of his money – the way the Microsoft founder had. The meeting went sideways, according to Walter Isaacson’s new biography, “Elon Musk,” which hits stores Tuesday. CNN obtained an early