Money

By Elisabeth Buchwald, CNN New York (CNN) — America’s biggest banks are well positioned to survive a severe recession while continuing to lend to households and businesses, the Federal Reserve said Wednesday in its annual bank resilience test, commonly referred to as a stress test. However, banks could suffer higher losses, if a significant economic

By Gabe Cohen, David Goldman and Gregory Wallace, CNN (CNN) — A whistleblower has come forward Wednesday alleging parts of Boeing’s 787 Dreamliner planes were built in an unsafe manner – potentially leading to “devastating consequences.” Richard Cuevas, a mechanic at Strom, a contractor for Boeing manufacturing partner Spirit Aerosystems, claims that he witnessed holes

By Samantha Murphy Kelly, CNN (CNN) — NBC is bringing a version of famed sportscaster Al Michaels back to the Olympics this summer with an unlikely twist: His voice will be powered by artificial intelligence. NBC announced on Wednesday it will use AI software to recreate Michaels’ voice to deliver daily recaps of the Summer

By Matt Egan, CNN New York (CNN) — About one in three Americans making six-figure salaries are worried about paying their bills, according to a new survey from the Federal Reserve Bank of Philadelphia. The survey finds a notable increase over the past year of consumers making $100,000 a year or more who are concerned

By David Goldman, CNN (CNN) — Two presidential task forces formed to recommend how Harvard can combat antisemitism and anti-Muslim, anti-Arab and anti-Palestinian activity on campus have spoken: Harvard needs to act now. The two groups issued preliminary reports on Wednesday aimed at restoring the university’s trust with students, faculty and the broader community. The

By Bryan Mena, CNN Washington (CNN) — Sales of newly built homes dropped last month as mortgage rates remained elevated. New home sales, which make up only about 10% of the market, fell 11.3% in May from the prior month, to 619,000, according to government data released Wednesday. That was the steepest monthly decline since

By Hanna Ziady, CNN London (CNN) — Dairy farmers in Denmark face having to pay an annual tax of 672 krone ($96) per cow for the planet-heating emissions they generate. The country’s coalition government agreed this week to introduce the world’s first carbon emissions tax on agriculture. It will mean new levies on livestock starting

By Jordan Valinsky, CNN New York (CNN) — Following the success of Connections and Wordle, the pressure was on for the New York Times to find its next hit game. It didn’t have to look far. Strands, a word search game, is officially joining the newspaper’s portfolio of games Friday following a four-month testing phase

By Juliana Liu, CNN Hong Kong (CNN) — Two employees have left Adidas as a result of an ongoing investigation by the German sportswear brand into allegations of corruption in China. Adidas said last week that it was investigating “compliance violations” in China, a key market for its sportswear, after Chinese state media reported that

By Anna Cooban, CNN London (CNN) — All Snapchill canned coffee products are being recalled across the United States because of fears they may contain a deadly toxin. Snapchill is voluntarily recalling the 296 products because its “current (manufacturing) process could lead to the growth and production” of the botulinum toxin, according to a company

By Oliver Darcy, CNN (CNN) — Early Wednesday morning, at 2am ET, imprisoned Wall Street Journal reporter Evan Gershkovich’s trial commenced before a Russian court on bogus espionage charges. Covering the judicial charade will present an unprecedented challenge for The Journal and other news outlets, given that the trial will take place in secret, behind closed doors. Some images

By Matt Egan, CNN (CNN) — Inflation remains public enemy No. 1 in today’s economy. Americans are fed up with the cost of living and former President Donald Trump says he will help. Yet 16 Nobel Prize-winning economists are warning that Trump’s proposals wouldn’t just fail to fix inflation — they would make matters worse.

By Scott McLean and Umut Sevdi Tangor, CNN Istanbul (CNN) — Levi’s is a global brand that says it has always stood up for “what’s right.” But its claim to be an ethical company is now in question following the release of a report from an independent labor monitoring group. Critics accuse Levi’s (LEVI) of

CNN By Scott McLean and Umut Sevdi Tangor, CNN Istanbul (CNN) — Levi’s is a global brand that says it has always stood up for “what’s right.” But its claim to be an ethical company is now in question following the release of a report from an independent labor monitoring group. Critics accuse Levi’s (LEVI)

By Amy Gunia, CNN (CNN) — The world’s first minister dedicated to developing artificial intelligence (AI) strategy is already becoming embroiled in a global power struggle for tech supremacy. In April, Microsoft (MSFT) announced a $1.5 billion investment in G42, an AI group based in Abu Dhabi, capital of the United Arab Emirates (UAE), and

By Peter Valdes-Dapena, CNN (CNN) — Ford is recalling more than 550,000 F-150 pickups in the United States because of an issue that can cause the transmission to suddenly and unexpectedly, at any speed, shift down to first gear. These trucks have six-speed transmissions. Usually, first gear is used to drive a vehicle at very

By Peter Valdes-Dapena, CNN (CNN) — Rivian and Volkswagen Group are forming a joint venture to create vehicle software, the two companies announced Tuesday. VW will invest a total of $5 billion into struggling electric vehicle maker Rivian as part of the arrangement, including a $1 billion immediate investment. The two automakers did not provide

By Ramishah Maruf, CNN New York (CNN) — CDK Global, the retail software provider behind the massive auto dealer outage, says it doesn’t believe its systems will be back online before June 30, a major blow to car buyers and sellers who have been struggling to complete auto sales during peak car buying season. A

By Chris Isidore, CNN New York (CNN) — Norfolk Southern on Tuesday faced harsh criticism from regulators for its decisions immediately after a February 2023 derailment in East Palestine, Ohio. During an all-day hearing in the town itself, hosted by the National Transportation Safety Board, the harshest criticism focused on the railroad’s advocating for a

By Samantha Murphy Kelly, CNN (CNN) — Toys “R” Us is proving artificial intelligence could have a future in film. The retail toy brand premiered a short promo film at the 2024 Cannes Lions Festival in France this week that was created almost entirely by using OpenAI’s new text-to-video tool. The company’s entertainment studio partnered