Money

By Bryan Mena, CNN Washington, DC (CNN) — Federal Reserve officials during their December policy meeting broached the subject of reducing interest rates, minutes from that meeting released Wednesday showed. Officials’ latest economic projections released in December showed that they expect to cut rates this year for the first time since kicking off a historic inflation-busting campaign in March 2022.

By Anna Bahney, CNN Washington, DC (CNN) — Prices of Manhattan condos and co-ops rose at the end of 2023 for the first time in over a year, at a time when mortgage rates were at their highest levels in 23 years. But for many buyers, rates didn’t even matter: A record high number of

By Jordan Valinsky, CNN New York (CNN) — Xerox is slashing 15% of its workforce, amounting to roughly 3,000 jobs, in a “reinvention” plan that encompasses a new organizational structure and operating model. The company, best known for manufacturing office equipment like printers and copiers, announced the changes on Wednesday. Xerox has about 20,500 global

By Chris Isidore, CNN New York (CNN) — The strike at General Motors plants in September and October took a bite out of its fourth-quarter sales, but strong demand for the vehicles made at its other plants allowed the company to report a narrow gain in US vehicle sales overall. The strike ran from September

CNN By Erica Hill and Yon Pomrenze, CNN (CNN) — In his 23 years with the Golden, Colorado, police department, a shorter workday — or work week — was never something Commander Marcus Williams thought about. “This was always considered something of a grind as part of the profession, one of those things you just

By Bryan Mena, CNN Washington, DC (CNN) — US job openings fell in November to their lowest level since March 2021, in a sign that America’s resilient job market is continuing to cool. There were a seasonally adjusted 8.79 million job openings in November, the Labor Department reported Wednesday. That’s down from October’s upwardly revised

By Peter Valdes-Dapena, CNN (CNN) — The Internal Revenue Service updated the rules for electric vehicle tax credits again starting with the first day of 2024, bringing some good and bad news. The bad news is that fewer vehicles are now eligible for federal tax credits, and even fewer are eligible for the maximum $7,500

By Laura He, CNN Hong Kong (CNN) — BYD overtook Tesla as the world’s top seller of electric vehicles (EV) at the end of last year, crowning an extraordinary rise for the Chinese carmaker. It delivered more fully electric cars than Tesla for the first time in the three-month period to December 31, and slashed

By Jordan Valinsky, CNN New York (CNN) — Ford is recalling 112,965 F-150s pickup trucks because of a rear axle hub bolt that can be a roll away risk if it’s damaged. The National Highway Traffic Safety Administration (NHTSA) said the recall affects F-150 vehicles with model years 2021 through 2023 that are equipped with the

By Allison Morrow, Lauren del Valle and Samantha Delouya, CNN New York (CNN) — Newly unsealed documents from a lawsuit connected to accused sex-trafficker Jeffrey Epstein will begin to be released Wednesday afternoon, by order of a federal judge in New York. With the exception of two individuals who sought to remain unidentified, “the parties have

By Hanna Ziady and Tami Luhby, CNN London (CNN) — The US government’s debt has topped $34 trillion for the first time, just weeks ahead of deadlines for Congress to agree to new federal funding plans. Data published by the Treasury Department showed that “total public debt outstanding” rose to $34.001 trillion on December 29.

CNN By Samantha Delouya, CNN (CNN) — Mickey Mouse has landed a new role: horror-movie villain. At least two films starring an early version of the Walt Disney Company’s famous mascot were announced this week as the copyright for Disney’s 1928 animated short film, “Steamboat Willie,” entered the public domain for the first time. A

By Jordan Valinsky, CNN New York (CNN) — Starbucks is expanding the ways its staff can fill customers’ personal cups as part of its ongoing efforts to reduce the massive amount of waste the coffee chain produces from its iconic cups constantly thrown in the trash. Beginning Wednesday, Starbucks is adding the reusable cup option

By Diksha Madhok, CNN New Delhi (CNN) — India’s top court ordered the country’s market regulator on Wednesday to conclude its investigation into the Adani Group quickly and said that no further probes are needed. The Securities and Exchange Board of India (SEBI) had completed 22 of 24 investigations into the Adani Group, the Supreme

CNN By Matt Egan, CNN New York (CNN) — Harvard President Claudine Gay announced Tuesday she is stepping down just six months into her presidency amid a firestorm of controversy at the university. “It is with a heavy heart but a deep love for Harvard that I write to share that I will be stepping

CNN, GETTY, X, @ASSAFDER, WHDH, CNN, CNN, GETTY, X/@Assafder, WHDH By Zoe Sottile and Eva Rothenberg, CNN (CNN) — After months of scrutiny, Harvard president Claudine Gay announced her resignation Tuesday, making hers the shortest term in the university’s history. Gay became Harvard’s first Black president in July 2023 after a career studying American political

By Zoe Sottile and Eva Rothenberg, CNN (CNN) — After months of scrutiny, Harvard president Claudine Gay announced her resignation Tuesday, making hers the shortest term in the university’s history. Gay became Harvard’s first Black president in July 2023 after a career studying American political behavior and serving in other administrative roles. Her resignation comes

By Ramishah Maruf, CNN New York (CNN) — The 2023 domestic box office surpassed $9 billion, the highest since the pandemic, Comscore said. However, it’s still $2 billion short of the yearly movie ticket sales reached before the pandemic. Despite a tepid fall season at the box office, the viral “Barbenheimer” phenomenon delivered a stunning

CNN By Matt Egan, CNN New York (CNN) — Harvard President Claudine Gay announced Tuesday she is stepping down just six months into her presidency amid a firestorm of controversy at the university. “It is with a heavy heart but a deep love for Harvard that I write to share that I will be stepping