Money

By Laura He and Diksha Madhok, CNN Hong Kong/New Delhi (CNN) — Moody’s downgraded its outlook on China’s credit rating to negative from stable on Tuesday, citing risks related to “structurally and persistently lower medium-term economic growth” and ongoing troubles in its property sector. The lowering of its outlook does not automatically mean the ratings

By Laura He, CNN Hong Kong (CNN) — Wanxiang Trust, an investment and asset management company in China, has reportedly missed payments on several investment products to investors, adding to fresh worries about the stability of the country’s shadow banking sector. The Hangzhou-based firm has delayed payments on a number of maturing products worth several

By Paul Glader, CNN Victoria, Seychelles (CNN) — Kyle de Bouter holds up a pair of Patagonia board shorts made of recycled fishing nets, smiling as workers nearby slice old nylon nets to stack into seven-foot square, one-ton bales. “This is 100% what it’s all about,” he says, illustrating the future product possibilities. De Bouter’s

By Simone McCarthy, CNN Hong Kong (CNN) — Press freedom groups are voicing concern for veteran Hong Kong journalist Minnie Chan following a news report that she went missing after traveling to Beijing to cover a security forum in late October. Reporters Without Borders (RSF) said Monday it was “greatly concerned” by news of Chan’s

CNN By Donie O’Sullivan and Clare Duffy, CNN (CNN) — A nationally recognized online disinformation researcher has accused Harvard University of shutting down the project she led to protect its relationship with mega-donor and Facebook founder Mark Zuckerberg. The allegations, made by Dr. Joan Donovan, raise questions about the influence the tech giant might have over seemingly independent research. Facebook’s

By Ramishah Maruf, CNN New York (CNN) — A trailer for “Grand Theft Auto VI,” the next installment of the wildly popular and violent game franchise, has been released early online after it had leaked. The trailer reveals that the sixth chapter is coming in 2025, according to developer Rockstar Games. The highly anticipated trailer

By Matt Egan, CNN New York (CNN) — Bets against the value of Israeli companies spiked in the days before the October 7th Hamas attacks, suggesting some traders may have had advance knowledge of the looming terror attack and profited off it, according to new research released Monday. The preliminary research, which hasn’t been peer

By Peter Valdes-Dapena, CNN New York (CNN) — Electric vehicles have 79% more problems than other vehicles, according to Consumer Reports’ latest annual auto reliability survey. But the problem isn’t really because they’re electric, said Jake Fisher, director of the group’s auto testing center. The problems arise because electric cars are mostly new models, and

By Catherine Thorbecke, CNN (CNN) — Sheryl Sandberg, a longtime advocate for women and girls’ rights, spoke out against Hamas’ use of sexual violence as a war tactic, saying at the United Nations Monday: “Rape should never be used as an act of war.” “Silence is complicity,” Sandberg said. “And in the face of terror, we cannot

By Anna Cooban, CNN London (CNN) — Gold prices hit an all-time high Monday, buoyed by growing expectations of interest rate cuts among investors, a weaker dollar and geopolitical tensions. Prices for the yellow metal jumped as much as 3% in Monday trade to reach $2,135 per ounce, rising above the previous record of $2,072

By Jackie Wattles, CNN (CNN) — Shares of Virgin Galactic, the space tourism venture founded by Richard Branson, are plunging after the British billionaire said he has no plans to invest more money in the company as he says it has “sufficient funds” already. As of the 9 a.m. ET market open on Monday, Virgin

By Tami Luhby, CNN (CNN) — Lower-income and middle-class households saw their net worth increase at a faster rate than their higher-income peers early in the Covid-19 pandemic, according to a Pew Research Center report released Monday. The median wealth of lower-income households shot up 101% between December 2019 and December 2021, while the middle

By Allison Morrow, CNN New York (CNN) — The price of bitcoin soared above $40,000 on Monday, hitting its highest level in 18 months as investors look ahead to a lower interest rate environment and key regulatory approvals that could make the crypto asset more mainstream. Bitcoin, the world’s most popular cryptocurrency, was up more

By Jordan Valinsky, CNN New York (CNN) — Beyoncé was crowned “queen of the box office” after her concert movie topped the box office in its opening weekend. “Renaissance: A Film by Beyoncé,” a documentary about the artist’s record-breaking world tour, raked in $21 million since its Friday opening, according to BoxOfficeMojo. It opened in

By Donie O’Sullivan and Clare Duffy, CNN (CNN) — A nationally recognized online disinformation researcher has accused Harvard University of shutting down the project she led to protect its relationship with mega-donor and Facebook founder Mark Zuckerberg. The allegations, made by Dr. Joan Donovan, raise questions about the influence the tech giant might have over seemingly independent research. Facebook’s parent

By Ramishah Maruf and Clare Duffy, CNN New York (CNN) — Boxy, colorful and emblazoned with the brand’s signature “TC” logo, Telfar’s “Shopping Bag” handbags have for years been prized accessories among the fashion conscious. The bags — modeled after the shape of a Bloomingdale’s shopping bag — have been worn by everyone from Beyoncé and

By Samantha Delouya and Devan Cole, CNN (CNN) — The Supreme Court spent nearly two hours Monday morning grappling with whether federal bankruptcy code permits a controversial agreement that would give billions of dollars to victims of the opioid epidemic while protecting members of the Sackler family, who owned the company Purdue Pharma, from current

By Hanna Ziady, CNN London (CNN) — Spotify will lay off around 1,500 employees to reduce costs in a third round of job cuts this year, CEO Daniel Ek said Monday as he announced a “significant” strategy shift for the music-streaming company. “Economic growth has slowed dramatically and capital has become more expensive. Spotify is

By Michelle Toh, CNN Hong Kong (CNN) — The US government has announced new regulations that aim to keep Chinese batteries out of cars sold in the United States, a move that could push up the price of electric vehicles for American drivers. The Biden administration on Friday proposed rules that would cut subsidies for

CNN, KOMO, KHON, ALASKA AIRLINES By Eva Rothenberg and Chris Isidore, CNN New York (CNN) — Alaska Air (ALK) on Sunday announced it will buy rival Hawaiian Airlines (HA) for $1.9 billion. The acquisition was the culmination of “several months” of negotiations, according to Alaska Airlines CEO Ben Minicucci. It will include $900 million in