Money

By Allison Morrow, CNN New York (CNN) — Lachlan Murdoch, the eldest son of Rupert Murdoch, has been anointed to take over his father’s vast media empire, capping years of rampant media speculation and thinly veiled fraternal feuding. The decision, announced Thursday, makes 52-year-old Lachlan the sole chairman of Fox News’ parent company, Fox Corporation,

By Catherine Thorbecke and Clare Duffy, CNN New York (CNN) — Nnete Matima said she was attracted to work at TikTok because of how the social media platform was “really built upon Black culture” and the work of Black creators. She saw and welcomed TikTok’s public pledge of support for the Black community in the

CNN By Oliver Darcy, CNN New York (CNN) — Rupert Murdoch, the powerful right-wing media mogul who built and oversaw one of the world’s most influential news empires, announced Thursday that he will step down as chairman of his companies, Fox Corporation and News Corporation. “For my entire professional life, I have been engaged daily

By Anna Bahney, CNN Washington, DC (CNN) — Home prices continued to climb in August, even as home sales dropped, a result of the low inventory of homes for sale pushing prices up and stubbornly high mortgage rates keeping would-be buyers out of the market, according to a monthly report from the National Association of

By Jordan Valinsky, CNN Business New York (CNN) — McDonald’s is being sued over a hot coffee spill, again. This time, a San Francisco location is being accused of serving a “scalding” cup of coffee with an improperly attached lid, which allegedly resulted in the coffee pouring out on plaintiff Mable Childress’ body and causing

By Chris Isidore, CNN New York (CNN) — The negotiators for the Writers Guild of America and heads of major media companies are set to return to the table after a productive day of talks Wednesday. But filming of movies and shows still wouldn’t be able to resume unless the union representing actors also reaches

By Oliver Darcy, CNN New York (CNN) — Rupert Murdoch, the powerful right-wing media mogul who built and oversaw one of the world’s most influential news empires, announced Thursday that he will step down as chairman of his companies, Fox Corporation and News Corporation. “For my entire professional life, I have been engaged daily with

By Hanna Ziady, CNN London (CNN) — The Bank of England paused its historic interest rate hiking campaign for the first time in nearly two years Thursday after inflation fell unexpectedly in August. The decision keeps the main borrowing cost for commercial banks in the United Kingdom at 5.25% — still the highest level since

By Laura He, CNN Hong Kong (CNN) — China’s exports of two rare minerals essential for manufacturing semiconductors fell to zero in August, a month after Beijing imposed curbs on sales overseas, citing national security. China produces about 80% of the world’s gallium and about 60% of germanium, according to the Critical Raw Materials Alliance,

By Michelle Toh, CNN Hong Kong (CNN) — Huawei has joined the list of companies that want to be all about artificial intelligence. For the first time in about 10 years, the Chinese tech and telecoms giant announced its new strategic direction on Wednesday, saying it would shift its focus to AI. Previously, the company

By Oliver Darcy and Chris Isidore, CNN (CNN) — For the first time in months, Hollywood studios and striking writers have made progress in their negotiations, potentially nearing an end to a more-than-140-day strike that has frozen production. Writers and heads of the four major studios are set to meet for a second consecutive day

By Samantha Delouya, CNN (CNN) — The threat of a strike at one competitor and the bankruptcy of another proved beneficial for FedEx this summer. Overall, adjusted earnings for FedEx’s fiscal first quarter were $4.55 a share, up from $3.44 a share this time last year. The company raised its earnings-per-share guidance for fiscal 2024

By Laura He and Berry Wang, CNN Hong Kong (CNN) — A Chinese wildlife conservation group issued an unusual appeal earlier this month. The Endangered Species Fund called for volunteers to donate food to hungry animals kept at a zoo inside Dongshan Park in the northern province of Liaoning. The zoo is run by the

By Matt Egan, CNN (CNN) — Ukrainian President Volodymyr Zelensky met Wednesday evening in Manhattan with Wall Street CEOs and business power players to discuss efforts to rebuild his war-torn country and its economy, a person familiar with the matter tells CNN. The roundtable, convened by JPMorgan Chase, included former Google CEO Eric Schmidt, billionaire

CNN By Olga Voitovych, Manveena Suri and Lauren Kent, CNN Kyiv, Ukraine (CNN) — Ukraine endured a deadly nationwide Russian missile barrage targeting energy facilities in Kyiv and other cities on Thursday, just hours before President Volodymyr Zelensky was set to meet US President Joe Biden at the White House. Five people died in the

By Ramishah Maruf, CNN New York (CNN) — PETA said it’s “cracking open some cold ones” after Anheuser-Busch said it’s ending the practice of cutting the tails of Budweiser’s iconic Clydesdale horses. Budweiser has featured the horses, with their ubiquitous white feathered legs, in its ad campaigns for decades, from the holidays to the Super

By Tami Luhby, CNN New York (CNN) — After several years of skyrocketing winter heating costs, millions of Americans are expected to finally get a little relief this coming season — if they heat their homes with natural gas, that is. Natural gas heating, which is used by just under half of US homes, is

By Jennifer Korn, CNN New York (CNN) — A group of famous fiction writers joined the Authors Guild in filing a class action suit against OpenAI on Wednesday, alleging the company’s technology is illegally using their copyrighted work. The complaint claims that OpenAI, the company behind viral chatbot ChatGPT, is copying famous works in acts

By Jeanne Sahadi, CNN New York (CNN) — The Federal Reserve on Wednesday chose not to raise its key interest rate, the same decision it took following its September meeting, leaving its benchmark lending rate at its highest level in 22 years. Given that the Fed influences — directly or indirectly — interest rates on

By Vanessa Yurkevich, CNN (CNN) — Stellantis is immediately laying off 68 employees at the Toledo Machining Plant in Perrysburg, Ohio, due to the impact from the United Auto Workers union’s targeted strike at the Toledo Assembly Complex, the company said Wednesday. The layoffs will be temporary and are due to storage constraints, Stellantis said