Money

By Matt Egan, CNN New York (CNN) — Florida venture capitalist Michael Shvartsman and his brother Gerald Shvartsman pleaded guilty on Wednesday to participating in an insider trading scheme linked to the blockbuster deal that brought former President Donald Trump’s social media business public. Each of the brothers pleaded guilty in New York to one

By Bryan Mena, CNN Washington (CNN) — Egg prices have now been steadily rising for months, and your omelette could become even more expensive as poultry farms around the country deal with an outbreak of bird flu. The average price of a dozen Grade A large eggs was $3 in February, according to the latest

By Chris Isidore and Jennifer Hansler, CNN Washington, DC (CNN) — US Secretary of State Antony Blinken is the latest person dealing with problems with a Boeing jet. Blinken and other State Department officials who are in Europe for talks about the wars in Ukraine and Gaza were forced to ride by car between Paris

By Anna Cooban, CNN London (CNN) — The European Union has launched investigations into two groups of companies that include Chinese solar panel makers in the latest salvo against what it suspects is unfair competition from China’s vast manufacturing sector. The European Commission, the EU’s executive arm, said Wednesday that it would assess whether foreign

By Rosa de Acosta, CNN Hong Kong (CNN) — In 1995, metallurgy graduate Wang Chuanfu founded BYD, a small Chinese company focused on producing rechargeable nickel-cadmium batteries more cheaply than Japanese competitors. Nearly 30 years later, the Shenzhen-based firm has become the world’s leading manufacturer of electric vehicles (EVs), even surpassing American giant Tesla (TSLA)

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. The battle for the future of Disney is about to reach its epic conclusion. After waging a relentless months-long proxy war on the Magic Kingdom’s

By Nicole Goodkind, CNN New York (CNN) — US markets have had a great 15 months. The S&P 500 rallied 24% in 2023 and hit 22 new all-time highs in the first quarter of 2023. But a rising tide does not necessarily lift all boats. Direct-to-consumer brands – household names like HelloFresh, Peloton, Allbirds, Stitch

By Laura He, CNN Hong Kong (CNN) — Chinese internet giants are buying back their shares at a record pace, as they try to boost their market value in the midst of a historic stock rout in the world’s second largest economy. Alibaba Group (BABA) announced Tuesday that it had bought back $12.5 billion of

By Sean Lyngaas, CNN Washington (CNN) — Microsoft committed a “cascade” of “avoidable errors” that allowed Chinese hackers to breach the tech giant’s network and later the email accounts of senior US officials last year, including the secretary of commerce, a scathing US government-backed review of the incident has found. The hack “was preventable and

CNN By Matt Egan, CNN (CNN) — Trump Media & Technology Group, the Truth Social owner controlled by former President Donald Trump, recently filed a lawsuit against two of its co-founders seeking to eliminate their stakes in the multi-billion dollar company. The lawsuit marks the latest twist in the legal saga surrounding the quest to

By Kevin Dotson, CNN (CNN) — Monday night’s Elite Eight showdown between Caitlin Clark’s Iowa Hawkeyes and Angel Reese’s LSU Tigers set the all-time ratings record for a women’s college basketball game, according to ESPN. More than 12 million people tuned in to watch the much-hyped rematch of 2023’s national championship game, which saw Iowa

By Matt Egan, CNN (CNN) — Trump Media & Technology Group, the Truth Social owner controlled by former President Donald Trump, recently filed a lawsuit against two of its co-founders seeking to eliminate their stakes in the multi-billion dollar company. The lawsuit marks the latest twist in the legal saga surrounding the quest to bring

By Chris Isidore and Matt Egan, CNN New York (CNN) — GE once did almost everything for the typical American family – from providing much of the television they watched, to the light bulbs and appliances they depended upon, the electricity needed to power those household staples, even the subprime mortgage that allowed many of

By Elizabeth Wagmeister, CNN (CNN) — More than 200 artists, including Billie Eilish, Kacey Musgraves, J Balvin, Ja Rule, Jon Bon Jovi, The Jonas Brothers, Katy Perry, Miranda Lambert and more, are speaking out against artificial intelligence-related threats in the music industry. In an open letter organized by the non-profit Artist Rights Alliance, notable names

By Clare Duffy, CNN New York (CNN) — Elon Musk’s social media platform X on Tuesday announced it’s hiring a new head of safety as it faces ongoing scrutiny over the spread of hateful speech, conspiracy theories and other controversial content on the platform. Kylie McRoberts — a nearly four-year veteran of the company formerly known

By Matt Egan, CNN (CNN) — Don Hankey, the chairman and majority shareholder of Knight Specialty Insurance, told CNN on Tuesday that the deal to underwrite former President Donald Trump’s $175 million bond in New York came together quickly and that Trump posted all cash as collateral. “It’s what we do. I’m happy to do it. We

By Nicole Goodkind, CNN New York (CNN) — Some people go to Costco for its $1.50 hot dogs, others for its $179 Ozempic prescriptions. The warehouse retailer is now offering its US members access to prescriptions for GLP-1 weight loss drugs through its low-cost health care partner Sesame. Costco first partnered with Sesame, a direct-to-consumer

By Jordan Valinsky, CNN New York (CNN) — JetBlue is proving that not even your baggage is safe from dynamic pricing, with the airline rolling out fees that vary depending on the day of departure. The price of a first checked bag now ranges from $35 to $50 under a recently revealed fee structure that

By Hadas Gold and Samantha Delouya, CNN (CNN) — A bitter fight over the future of Disney is set to be decided this week as one of the most expensive proxy battles ever comes to a head at a high-stakes shareholder vote on Wednesday. At issue is Disney’s (DIS) stock price, which has risen nearly 50% over the

By Krystal Hur, CNN New York (CNN) — Stocks fell Tuesday as investors continued to worry that the Federal Reserve could cut interest rates later than expected. The Dow Jones Industrial Average dropped 395 points, or 1%, on Tuesday after declining more than 500 points at its lows. That means the blue-chip index had at