Money

By Laura He, CNN Hong Kong (CNN) — China is allowing foreigners in Shanghai and Beijing to move their money freely into and out of the country, in a significant move toward relaxing its strict capital controls as it tries to woo overseas investors. The news was announced just weeks after official data showed foreign

By Jessie Yeung and Francesca Annio, CNN Tokyo (CNN) — The iconic Japanese animation company Studio Ghibli, which created internationally beloved films including “My Neighbor Totoro” and “Spirited Away,” has been sold to Nippon TV after failing to find a successor for its legendary co-founder and director Hayao Miyazaki. The two companies’ board of directors

By Oliver Darcy, CNN (CNN) — The striking writers and Hollywood studios will meet for a third consecutive day Friday, after wrapping up “marathon” negotiations aimed at ending the nearly 150-day standoff. The Writers Guild of America said in a message to its members late Thursday that they urged members to return to the picket

By Michelle Toh, CNN Hong Kong (CNN) — Union workers have called off strikes at liquefied natural gas facilities belonging to Chevron in Australia, ending a standoff that could have affected about 7% of global LNG supply. Both Chevron (CVX) and Offshore Alliance, which represents the Australian Workers’ Union and the Maritime Union of Australia,

By Catherine Thorbecke, CNN (CNN) — YouTube on Thursday unveiled a slew of new artificial intelligence-powered tools to help creators produce videos and reach a wider audience on the platform, as companies race to incorporate buzzy generative AI technology directly into their core products. “We want to make it easier for everyone to feel like

By Danielle Wiener-Bronner, CNN New York (CNN) — Even the unlimited breadsticks at Olive Garden and wooden rocking chairs at Cracker Barrel can’t seem to lure back the baby boomers. It’s been over three years since many restaurants closed their doors and customers opted to eat more meals at home because of the Covid pandemic.

By Jordan Valinsky, CNN Business New York (CNN) — The “face” of the Hawaiian Airlines logo, which has decorated the tails of its airplanes for decades, has passed away. Leina’ala Ann Teruya Drummond, Miss Hawaii 1964, died of cancer Monday at the age of 77 in Hilo, Hawaii. The Hawaiian native worked at the airline

By Jeanne Sahadi, CNN New York (CNN) — New York State is the latest jurisdiction to implement a pay disclosure law that requires employers to list salary ranges for open roles. It is among the 10 states, five cities and at least one county that have enacted such laws. Under New York State law, employers

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates remained flat this week, hovering over 7%, where they’ve been for six consecutive weeks as inflation pressures persist. The 30-year fixed-rate mortgage averaged 7.19% in the week ending September 21, a tick up from 7.18% the week before, according to data from Freddie Mac

CNN 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

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