Money

By Krystal Hur and Chris Isidore, CNN New York (CNN) — Spirit Airlines shares tanked 47% on Tuesday after a federal judge in Boston ruled against JetBlue’s proposed $3.8 billion acquisition of the discount airline. The ruling outlined several concerns, including increased fares for flyers, particularly for discount airlines Spirit’s customers and significant debt for

By Jordan Valinsky, CNN New York (CNN) — Washington state is suing to block the proposed $25 billion merger between supermarket chains Kroger and Albertsons, warning that if approved it could raise prices and harm consumers. In a suit filed Monday by the state’s Attorney General Bob Ferguson, his reasons for opposing the merger are

By Nathaniel Meyersohn, CNN New York (CNN) — Bad news if you’re mooching off of someone else’s Costco membership: The retail giant is cracking down. When you enter Costco, you need to show your membership card to an employee to shop. Costco membership cards are non-transferable, but the company allows members to give a second

By David Goldman, CNN New York (CNN) — As if Boeing needed any more bad news, a scathing report from Wall Street on Tuesday cast doubt on Boeing’s ability to pass a new federal safety audit, sending its stock sinking sharply. Later Tuesday, Boeing announced an independent adviser who will lead a review of the

By Anna Cooban, CNN London (CNN) — Japanese technology company Fujitsu has a “moral obligation” to compensate the victims of Britain’s Post Office scandal, the boss of its European arm said Tuesday. Between 1999 and 2015, scores of people who ran branches of the government-owned Post Office were falsely accused of theft and fraud after

By Samantha Murphy Kelly, CNN (CNN) — Microsoft CEO Satya Nadella said during the World Economic Forum in Switzerland on Tuesday that he is “hopeful” and “optimistic” about the future of artificial intelligence, but that countries should be on the same page when it comes to embracing a set of industry standards. In a conversation

By Brian Fung, CNN (CNN) — Apple will have to comply with a sweeping injunction reshaping its relationship with mobile app developers and potentially billions dollars in app-related sales, after the US Supreme Court declined to review the lower court’s order on Tuesday. Apple estimated in 2022 that developers generated $1.1 trillion in the App

By Jordan Valinsky, CNN New York (CNN) — It’s no secret that Bill Gates is bullish on artificial intelligence, but he’s now predicting that the technology will be transformative for everyone within the next five years. The rise of AI has elicited fear that the technology will eliminate millions of jobs around the world. The

By Brian Fung, CNN (CNN) — As concerns swirl about the disruption artificial intelligence could cause for the 2024 elections, OpenAI on Monday declared that politicians and their campaigns are not allowed to use the company’s AI tools. The restrictions also extend to impersonation. Under its policies, OpenAI said in a blog post, users may not

By Gregory Wallace, CNN (CNN) — Winter weather is continuing to disrupt air travel on Tuesday. More than 1,700 flights are already canceled and 3,700 delayed, according to the tracking site FlightAware. United Airlines and Southwest Airlines have each canceled more than 300 flights, the site said. The storm has impacted airports across much of

By Hanna Ziady, CNN London (CNN) — The United States measures its lead over competitors in artificial intelligence in “months,” according to a lawmaker, highlighting the intense rivalry between nations to dominate a technology poised to transform the global economy. Speaking at the annual meeting of the World Economic Forum in Davos in Switzerland Tuesday,

By David Goldman, CNN New York (CNN) — Elon Musk says he wants a significantly larger stake in Tesla than the one that already made him the richest person on the planet. In a series of posts on X Monday night, Musk said that he would not want to grow Tesla to become a leader

By Anna Bahney, CNN Washington, DC (CNN) — Buying a family-sized home with three or more bedrooms used to be manageable for young people with children. But with home prices climbing faster than wages, mortgage rates still close to 23-year highs and a shortage of homes nationwide, many Millennials with kids can’t afford it. And

By Nicole Goodkind, CNN New York (CNN) — Goldman Sachs reported a strong fourth quarter earnings report, driven largely by impressive results in their asset and wealth management divisions. The company announced Tuesday that profit had increased by about 51% from a year ago, to just over $2 billion. Revenue came in at $11.3 billion

By Laura He, CNN Hong Kong (CNN) — China’s economy grew by about 5.2% in 2023, slightly better than the official target Beijing had set, Premier Li Qiang said Tuesday at the World Economic Forum’s annual meeting in Davos, Switzerland. “In the past year of 2023, China’s economy has generally rebounded and improved,” the country’s second highest

Alkira Reinfrank, Mengchen Zhang and Michelle Toh, CNN Shenzhen, China (CNN) — Imagine a future where you can do just about anything simply by waving your hand: making purchases, taking the subway or letting yourself in at the office. In China, Tencent is already doing it. The Shenzhen-based tech giant has rolled out a palm

By Samantha Delouya, CNN (CNN) — Uber is shutting down its alcohol delivery app, Drizly, just three years after acquiring it for $1.1 billion. Buoyed by the pandemic-era at-home delivery boom, Drizly had grown to become the largest online marketplace for alcohol in North America, but it will officially shut down at the end of

By Catherine Thorbecke, CNN New York (CNN) — Apple is offering temporary discounts on its iPhones and other products in China, in an extremely rare move for Apple that comes as competition within Asia’s smartphone market grows more intense. As part of a sale pegged to the Lunar New Year event, Apple’s official Chinese website