Money

By Shawn Nottingham, CNN (CNN) — The president of Florida A&M University admits “misteps were made” in the handling of a purported $237 million stock gift to the school from a Texas businessman following concerns over the actual value of the donation. Dr. Larry Robinson told the university’s board of trustees at a special meeting,

By Rosa de Acosta and Simone McCarthy, CNN Hong Kong (CNN) — As countries around the world ramped up sanctions on Russia in the wake of Vladimir Putin’s invasion of Ukraine in February 2022, it became clear that the Russian president still had a powerful friend in Xi Jinping. The Chinese leader, who declared a

By Nicole Goodkind, CNN New York (CNN) — Retirement is expensive, and more Americans see spending their later years abroad as a good option to stretch their savings and improve their quality of life. The number of Social Security recipients living outside the US increased from 307,000 in 2008 to more than 450,000 in 2022.

By Danielle Wiener-Bronner, CNN New York (CNN) — Food shoppers can finally breathe a slight sigh of relief: After years of increases followed by months of plateau, grocery prices fell last month. Grocery prices retreated 0.2% from March to April, adjusted for seasonal swings, according to inflation data released Wednesday by the Bureau of Labor

By Clare Duffy, CNN New York (CNN) — Uber wants to make it cheaper to get a ride to the airport, concerts or sporting events. The rideshare company on Wednesday announced the launch of Uber Shuttle, an offering that will let users book up to five seats in a shuttle from a central location to

By Jordan Valinsky, CNN New York (CNN) — Netflix has caught its biggest sports deal yet: the NFL. The streaming service announced Wednesday a three-year deal to broadcast the league’s Christmas Day games, marking a major milestone for Netflix, whose sports ambitions have largely focused on producing documentaries and creating live specials about golf and

By Brian Fung and Clare Duffy, CNN New York (CNN) — Another wealthy investor says he’s organizing a bid to purchase TikTok, after President Joe Biden signed a law last month forcing TikTok to find a new owner or be banned in the United States. Frank McCourt, a real estate billionaire and the former owner

By Anna Cooban, CNN London (CNN) — Taylor Swift’s smash-hit “Eras Tour” is set to boost spending in the United Kingdom by nearly $1 billion, according to estimates by Barclays. The British bank said in a report Wednesday that it expects nearly 1.2 million Swifties to attend the superstar’s shows in the UK this summer,

By Elisabeth Buchwald, CNN New York (CNN) — US consumers could be reaching their breaking point. After dealing with elevated inflation and the highest interest rates in decades, they’re starting to rein in their spending. Last month, retail sales were unchanged from March, when spending increased by a downwardly revised 0.6%, the Commerce Department reported

By Alicia Wallace, CNN (CNN) — All three major indexes surged to record highs Wednesday after new data showed that inflation cooled in April after ticking up recently. The S&P 500, tech-heavy Nasdaq Composite and blue-chip Dow all closed at new record highs after the latest Consumer Price Index showed that prices were up 3.4%

By Brian Fung, CNN (CNN) — Federal legislation to govern artificial intelligence took another step closer to reality on Wednesday as Senate Majority Leader Chuck Schumer, along with a bipartisan trio of senators, announced a sprawling blueprint to shape how congressional committees tackle the technology in forthcoming bills. The 31-page roadmap released this week calls

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. The A.I. doomsday clock appears ready to strike midnight for publishers. Google on Tuesday announced that it will infuse its ubiquitous search engine

By Matt Egan, CNN New York (CNN) — Some progressives have frequently blamed corporate greed for fueling the high cost of living that Americans are fed up with. Yet new research from the Federal Reserve Bank of San Francisco casts doubt on the greedflation theory. Economists at the SF Fed found that corporate price gouging

By Kathleen Magramo, CNN (CNN) — YouTube has blocked access to a popular protest song in Hong Kong, a week after a court in the city granted a government request to ban the anthem. In a statement on Wednesday, YouTube said 32 web links playing “Glory to Hong Kong” have been geoblocked and are now

By Tami Luhby, CNN (CNN) — If you think the rent is too damn high, wait until you get the bill for child care. Parents with two kids in a child care center paid on average at least twice as much for that care as they did for the typical rent in 11 states and

By Samantha Delouya, CNN (CNN) — OpenAI’s chief scientist and cofounder, who played an instrumental role in CEO Sam Altman’s short-lived ouster from OpenAI in November, announced that he was leaving company on Tuesday. “After almost a decade, I have made the decision to leave OpenAI,” Ilya Sutskever said in a social media post. “I

By Evan Perez, CNN (CNN) — The US Justice Department on Tuesday notified Boeing that it breached terms of its 2021 agreement in which the company avoided criminal charges for two fatal 737 Max crashes. After a series of safety missteps earlier this year, including a door plug that blew off an Alaska Airlines flight shortly after

By Alicia Wallace, CNN (CNN) — Countries have long imposed tariffs as a means of protecting and shoring up domestic industries. However, history and research have shown that the economic effects often fail to live up to the hype. On Tuesday, the Biden administration announced the latest iteration of American import taxes: a wave of

By Parija Kavilanz, CNN New York (CNN) — Walmart said Tuesday it is eliminating several hundred corporate jobs and will relocate most of its remaining remote office staff to its Bentonville, Arkansas, headquarters. Walmart confirmed the move in a memo sent by Donna Morris, its chief people officer, to employees on Tuesday and obtained by

By Peter Valdes-Dapena, CNN (CNN) — The National Highway Traffic Safety Administration is investigating two autonomous driving companies following incidents in which the vehicles behaved erratically and sometimes disobeyed traffic safety rules or were involved in crashes. The investigations involve Waymo, the self-driving technology subsidiary of Google’s parent company Alphabet, as well as Zoox, the