Money

By Hanna Ziady, CNN London (CNN) — The European Central Bank cut interest rates Thursday, lowering borrowing costs for the second time in recent months as inflation slows and Europe’s economy stumbles. The widely anticipated decision, which was unanimously agreed by the ECB’s 26 rate-setters, takes the benchmark rate in the 20 countries that use

By Ramishah Maruf, CNN New York (CNN) — The McDonald’s $5 meal deal is staying on menus until December, a sign that inflation-weary customers are devouring value meals recently offered by fast food chains. The Chicago-based fast-food giant announced the $5 meal deal in June. But what the company offered as a one month only

By Matt Egan, CNN (CNN) — The face of artificial intelligence in America is set to meet with top US officials at the White House on Thursday, CNN has learned, in a first-of-its-kind meeting to solve a riddle that could severely strain US infrastructure: how to power the AI boom. Sam Altman, the CEO behind

By Hadas Gold, CNN New York (CNN) — When Rupert Murdoch, the 93-year-old media mogul, quietly decided last year to upend the irrevocable family trust that governs who will control his sprawling global media empire after his death, the move ignited an intense feud among his children. But the secret family affair now playing out inside an obscure Reno, Nevada, courtroom like a page ripped from

By Matt Egan, CNN New York (CNN) — It’s easy to dismiss many presidential candidates’ campaign promises as empty, because Congress would need to approve them. Tariffs are different. Presidents have vast powers to lob tariffs on friends and foes, as former President Donald Trump demonstrated when he waged a trade war starting in 2018.

By Juliana Liu, CNN Hong Kong (CNN) — A Chinese investment bank known for making some of the biggest deals in the country’s tech sector during its heyday has revealed it received a massive bill for 78 million yuan ($11 million) related to the disappearance of its star banker, Bao Fan. The request for payment

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — Little has gone right for Boeing over the last five years. By this time tomorrow, the troubled company could add another mess to its growing list of problems: A massive strike by 33,000 of its workers that could stop airplane production at America’s largest

By Kathleen Magramo, CNN (CNN) — After years of speculation and hype, Sony will be launching an upgraded version of its popular PlayStation 5 at the console’s highest ever price. The PS5 Pro will go on sale on November 7 at $700, about 40% more expensive than the PS 5 when it launched in 2020,

By Chris Isidore, CNN New York (CNN) — Norfolk Southern CEO Alan Shaw was fired for cause by the railroad’s board for “engaging in a consensual relationship with the company’s chief legal officer,” who was also terminated, the railroad announced Wednesday evening. A statement from the company on Wednesday said that Shaw had been dismissed

By Hadas Gold, CNN New York (CNN) — The first presidential debate between Vice President Kamala Harris and former President Donald Trump drew an estimated 67.1 million viewers across 17 television networks — blowing well past the 51 million who watched the Republican nominee take on President Joe Biden in June. Tuesday night’s 90-minute matchup in

By Ramishah Maruf, CNN New York (CNN) — Fast casual chain BurgerFi filed for Chapter 11 bankruptcy Wednesday after months of reporting financial distress. BurgerFi is another casualty of the rough business conditions hitting fast casual chains this year, which included Rubio’s, Buca di Beppo and Red Lobster also declaring bankruptcy. Even if not filing

CNN By Alicia Wallace, CNN (CNN) — Inflation continues to loosen its grip on American consumers, with price hikes slowing by the most in three and a half years, according to new data from the Bureau of Labor Statistics released Wednesday. The Consumer Price Index, a measurement of price changes for a commonly purchased basket

By David Goldman and Matt Egan, CNN (CNN) — Oil prices are near three-year lows. Gas prices are sinking below $3 in many parts of America. So why were Vice President Kamala Harris and former President Donald Trump talking so much about expanding oil production during Tuesday night’s debate? Harris, criticized for her previous stance

By Elisabeth Buchwald, CNN New York (CNN) — Wednesday’s Consumer Price Index report was the last bit of hope for investors clamoring for a half-point rate cut from the Federal Reserve when it meets next week. That hope has now all but faded, and Wall Street took it hard. But traders managed to shake off

By Matt Egan, CNN New York (CNN) — Wall Street sure is acting like Donald Trump lost the debate Tuesday night. Investors swiftly penalized Trump’s social media business following the former president’s widely panned debate performance. Other so-called Trump trades, including bitcoin and Coinbase, went into reverse Wednesday, while bonds and Asian currencies rallied. And some funds that own

By Hadas Gold, CNN New York (CNN) — ABC News moderators David Muir and Linsey Davis fact-checked Donald Trump during Tuesday night’s presidential debate, quickly correcting the record for millions watching at home after the Republican pushed falsehoods on abortion, migrants and the 2020 election. The decision to live fact-check the candidates during the high-stakes telecast

By Nathaniel Meyersohn, CNN New York (CNN) — No more soup for the Campbell’s company. The 155-year-old Campbell Soup Company plans to drop “soup” from its corporate name, rebranding as The Campbell’s Company. More consumers are reaching for snacks and ditching ready-to-serve soups, and the company has bought up other food lines to grab them. In addition to its lineup of soups, Campbell