Money

By Juliana Liu and Joyce Jiang, CNN Hong Kong (CNN) — IBM is cutting more than 1,000 jobs in China, according to multiple state media reports, as geopolitical tension between Beijing and Washington prompts many global companies to reassess their future in the world’s second-largest economy. Relations between the United States and China have deteriorated

By Ramishah Maruf, CNN New York (CNN) — Martin Shkreli, the infamous “pharma bro” once convicted of securities fraud, must turn over to his attorneys all copies of what was supposed to be a multi-million-dollar, one-of-a-kind Wu-Tang Clan album and is barred from selling or distributing the album, a federal judge ruled. Judge Pamela Chen

By Colin McCullogh, CNN (CNN) — Mark Zuckerberg, chairman and CEO of the social media company Meta, said in a letter to the House Judiciary committee on Monday that his teams were “pressured” by the Biden White House to censor some content around the Covid-19 pandemic. “In 2021, senior officials from the Biden Administration, including the

By Jeanne Sahadi, CNN (CNN) — Many US retailers offer the option to get cash back when you make a purchase with a bank debit card or prepaid card. But some charge a fee for that convenience. It certainly can save you time because you don’t need to make a stop at an ATM. And

CNN By Clare Duffy, CNN New York (CNN) — The arrest of Telegram CEO Pavel Durov in France over the weekend has thrust the popular messaging service and its enigmatic founder into the spotlight. Russian-born Durov was detained Saturday at Paris’s Bourget Airport on a warrant related to Telegram’s lack of moderation. Those charges include

By Clare Duffy, CNN New York (CNN) — The arrest of Telegram CEO Pavel Durov in France over the weekend has thrust the popular messaging service and its enigmatic founderinto the spotlight. Russian-born Durov was detained Saturday at Paris’s Bourget Airport on a warrant related to Telegram’s lack of moderation. Those charges include allegations that

By Ramishah Maruf, CNN New York (CNN) — Apple has announced the date of its next major event, where the iPhone 16 is expected to launch. On Monday, September 9 the tech giant is hosting a special event with the tag line “It’s Glowtime.” The event will take place at 10 am PT at the

By Jordan Valinsky, CNN New York (CNN) — Roughly two dozen more Red Lobster locations are scheduled to close within the coming days as part of the seafood restaurant chain’s ongoing bankruptcy proceedings. A recent court filing shows that the company is rejecting the leases of an additional 23 locations by Saturday, August 31, joining

By Samantha Delouya, CNN (CNN) — Homebuying in the United States has recently slowed to a crawl, but falling mortgage rates could soon jolt it back to life. For potential homebuyers who may have been itching to come off the sidelines, the recent drop in mortgage rates may be a double-edged sword. Lower rates could

By Elisabeth Buchwald and Bryan Mena, CNN (CNN) — It’s been another rollercoaster of a year so far for the US housing market. Elevated mortgage rates and home prices have pushed prospective homebuyers to the sidelines. In addition, homeowners have been reluctant to put their properties on the market and risk potentially forfeiting the ultra-low

By Alicia Wallace and Matt Egan, CNN (CNN) — Last year, consumers shelled out big bucks for their back-to-school shopping needs, spending a record $41.5 billion, according to estimates from the National Retail Federation. That whopping tally, which amounted to more than $890 per household, bested 2021’s all-time high by roughly 12%. While higher prices

By Nathaniel Meyersohn, CNN New York (CNN) — It’s never been harder to be Mister Softee. Once, there were more than 2,000 Mister Softee trucks in 38 states during the company’s peak in the 1960s. Now, there are only around 630 Mister Softee trucks looping around neighborhoods and parks in 21 states. Competition and rising

By Jordan Valinsky, CNN New York (CNN) — In the waning weeks of summer, the hottest spot for celebrities to be seen in New York isn’t the beaches of Montauk or the polo fields in Bridgehampton. Rather, it’s slightly uncomfortable, blue plastic chairs in Queens — but surrounded by luxury. Monday kicks off the US

By Hadas Gold, CNN New York (CNN) — A new presidential candidate, a slew of celebrities and slick programming helped propel Democrats and Vice President Kamala Harris to a ratings win at this week’s Democratic National Convention, surpassing the television viewership of last month’s Republican gathering. Viewership of the four-day festivities in Chicago drew an

By Liam Reilly, CNN New York (CNN) — As opening statements in the murder trial of Robert Telles began last week, the Las Vegas Review-Journal was confronted with a nightmarish question: How does a newspaper cover the trial of a suspect accused of murdering one of its own reporters? The once-unimaginable prospect is one the

CNN By Krystal Hur, CNN New York (CNN) — Stocks rose Friday as Wall Street cheered a signal from Federal Reserve Chair Jerome Powell that long-awaited interest rate cuts are finally coming. The Dow closed 462 points, or 1.1% higher, on Friday afternoon. The S&P 500 gained 1.2% and the Nasdaq Composite added 1.5%. All

By Holmes Lybrand and Evan Perez, CNN (CNN) — The Justice Department has filed a civil lawsuit against the real estate company RealPage, alleging the company’s software uses landlord data to artificially inflate the price of rent across the United States by quelling competition in the market. According to the complaint, the Texas-based company uses

By Bryan Mena, CNN Washington (CNN) — After a grueling two years of high inflation and elevated interest rates, Americans are finally set for some relief: Federal Reserve Chair Jerome Powell on Friday offered his strongest affirmation yet that a rate cut is coming next month. But the size of that relief remains an open

By Bryan Mena, CNN Washington (CNN) — America’s top central banker has unambiguously signaled that lower interest rates are finally on the horizon, marking a crucial milestone for the Federal Reserve’s historic — and, so far, successful — inflation fight. “The time has come for policy to adjust,” Fed Chair Jerome Powell said in prepared

By Krystal Hur, CNN New York (CNN) — Stocks rose Friday as Wall Street cheered a signal from Federal Reserve Chair Jerome Powell that long-awaited interest rate cuts are finally coming. The Dow closed 462 points, or 1.1% higher, on Friday afternoon. The S&P 500 gained 1.2% and the Nasdaq Composite added 1.5%. All three