Money

By Alicia Wallace, CNN Minneapolis (CNN) — New survey data released Monday by the Federal Reserve Bank of New York showed that US consumers believe inflation will continue to ease, the labor market will remain strong and they will continue to spend more than they did pre-pandemic. The October Survey of Consumer Expectations painted a

By Anna Bahney, CNN Washington, DC (CNN) — The income of a typical homebuyer in the United States surged to $107,000 from $88,000 last year, as home affordability precipitously worsened, according to an annual report from the National Association of Realtors. The 22% jump was the highest annual increase on record, and puts homeownership out

By Jordan Valinsky, CNN New York (CNN) — The number of Trump Hotels continues to dwindle, with the chain’s Hawaii resort the latest to ditch the tarnished name for a less politicized brand. The Trump International Hotel Waikiki is joining Hilton and will no longer have the former president’s name attached to it. In February

By Hanna Ziady, CNN London (CNN) — An entire museum in London is dedicated to celebrating the 500-year-long history of British postal services. Yet that history is becoming an increasingly sorry tale. Royal Mail, the official postal service of the United Kingdom, cannot deliver letters and parcels on time, according to the country’s communications regulator.

By Diksha Madhok, CNN New Delhi (CNN) — Hyundai Motor has kicked off construction on a 2 trillion won ($1.5 billion) facility in South Korea that will be dedicated to manufacturing electric vehicles. The group, which owns the Hyundai and Kia brands, held the groundbreaking ceremony on Sunday in Ulsan, where the carmaker built its

By Hanna Ziady, CNN Geneva, Switzerland (CNN) — The morning after the bombshell announcement in March that UBS was buying its failing crosstown rival Credit Suisse to avert a global banking crisis, Sergio Ermotti saw a surprising name pop up on his phone. The caller was UBS (UBS) chairman Colm Kelleher. Ermotti had left the

By Michelle Toh, CNN Hong Kong (CNN) — One of Australia’s biggest port operators has restarted some operations after a crippling cyberattack that led to a huge backup of cargo. DP World Australia, which manages the flow of nearly 40% of the country’s goods and is owned by Dubai-based logistics giant DP World, announced Monday

By Eva Rothenberg, CNN (CNN) — Former fashion mogul Peter Nygard was found guilty of four counts of sexual assault in a Toronto court on Sunday, following a six-week trial. Nygard, 82, was accused by five women of attacking them in a series of incidents from the 1980s to the mid-2000s. He was acquitted of one

By Eva Rothenberg, CNN (CNN) — “The Marvels” finished No. 1 at the box office in its opening weekend but grossed just $47 million in domestic sales, according to studio estimates on Sunday. According to data from Comscore, the latest Marvel project is also the studio’s lowest-performing one. It finished below 2008’s “The Incredible Hulk,”

By Elisabeth Buchwald, CNN New York (CNN) — Bond yields have been doing a lot of the heavy lifting for the Federal Reserve by helping keep inflation in check — but that’s coming back to bite the central bank. The swift rise in long-term US Treasury yields over the past few months caused headaches for

By Samantha Murphy Kelly, CNN (CNN) — This was arguably the most momentous week for artificial intelligence since the launch of ChatGPT last year. OpenAI unveiled the latest version of the technology that underpins its viral ChatGPT chatbot. Elon Musk announced a sarcastic AI ChatGPT rival called Grok coming to his platform, X, formerly known

By Eva Rothenberg, CNN (CNN) — Ahead of high-stakes meetings next week between the United States and China, US Commerce Secretary Gina Raimondo dismissed the notion there would be a military conflict with China over Taiwan. Both the United States and China “have a desire to stabilize (their) relationship,” Raimondo told CNN’s Christiane Amanpour in

By Catherine Thorbecke, CNN New York (CNN) — WeWork officially filed for bankruptcy this week, a seemingly inevitable development for the coworking startup which once promised to revolutionize office work but has been slowly unraveling for years. Co-founder Adam Neumann’s well-documented excesses during the early days of WeWork have already inspired a best-selling book and

CNN Analysis by Bryan Mena, CNN Washington, DC (CNN) — A worrisome sign for the Federal Reserve is starting to emerge. The Fed keeps a close eye on several risks that could make its job of taming inflation even more difficult, such as red-hot consumer demand keeping some upward pressure on prices and the possible

By Samantha Delouya, CNN Los Angeles (CNN) — Ken Rose, a restaurateur and chef in Sandy, Utah, said that though he has always paid his employees above his state’s minimum wage of $7.25 an hour, in the past few years, he’s had to bump employee pay higher than ever. “For me, minimum wage is what

By Ramishah Maruf, CNN New York (CNN) — Veterans Day honors active and former US service members. Usually, the federal holiday is celebrated on November 11. However, since that day falls on a Saturday this year, some observed the holiday on Friday, November 10. Here’s what will be open and closed on November 11 for

By Nicole Goodkind, CNN New York (CNN) — More than 1,600 alumni of Harvard University say that they will withhold donations to the school until Harvard takes urgent action to address antisemitism on campus, part of a wave of challenges to colleges across the county in addressing hate speech sparked by the Israel-Hamas war. High-profile

By Ramishah Maruf, CNN New York (CNN) — Actors union SAG-AFTRA revealed specifics of a new labor deal with Hollywood studios Friday that they said included groundbreaking raises, benefit increases and protections around artificial intelligence. The actors union had reached a tentative agreement on Wednesday with the major film and television studios, the Alliance of

By Sean Lyngaas, CNN (CNN) — A ransomware attack on a US unit of the powerful Industrial and Commercial Bank of China that may have contributed to a brief market sell-off on Thursday was a significant escalation for cybercriminals that underscored how big hacks can disrupt business for even the best-resourced companies, experts told CNN. The

By Elisabeth Buchwald, CNN New York (CNN) — The United States is one step closer to losing its last perfect credit rating after Moody’s Investors Service changed the outlook of the nation’s debt to negative on Friday after markets closed. While the move does not automatically mean it will downgrade America’s creditworthiness, it increases the