Money

By Michelle Toh, Hanako Montgomery and Francesca Annio, CNN Hong Kong/Tokyo (CNN) — Daihatsu, the Japanese automaker owned by Toyota, has halted domestic production after admitting it forged the results of safety tests for its vehicles for more than 30 years. The brand, best known for manufacturing small passenger cars, has stopped output at all

CNN, CNN BUSINESS By Nathaniel Meyersohn, CNN New York (CNN) — If you’re thinking of sending back a disappointing gift you just received over the holidays, the return may bring even more disappointment. Americans have grown accustomed to free returns, but a growing number of retailers are charging fees as returns squeeze retailers’ bottom lines.

By Nathaniel Meyersohn, CNN New York (CNN) — If you’re thinking of sending back a disappointing gift you just received over the holidays, the return may bring even more disappointment. Americans have grown accustomed to free returns, but a growing number of retailers are charging fees as returns squeeze retailers’ bottom lines. Macy’s, Abercrombie, J.

By Anna Bahney, CNN Washington, DC (CNN) — US home prices continued to rise in October, hitting a new record high and marking the ninth-consecutive month of increases, according to data released Tuesday. Together with soaring mortgage rates that month, rising home prices have made this the least affordable housing market in a generation. Even

Analysis by Samantha Murphy Kelly, CNN New York (CNN) — It was the year of artificial intelligence, and no Big Tech company leaned into the trend like Microsoft. In 2023, the company’s CEO Satya Nadella made a multi-billion dollar investment in AI, commercialized and added AI tools like ChatGPT into its suite of products before

By Bryan Mena, CNN Washington (CNN) — Taylor Swift didn’t have to run a major company or helm a central bank to wield some immense economic power this year. The pop superstar reigned supreme in 2023 not just as a musical artist, but also as a businessperson: Her career-defining “Eras” tour sold out stadiums across

By David Goldman and Clare Duffy, CNN New York (CNN) — The clock has wound down on the newest Apple Watch after the White House declined to issue a last-minute, emergency action to keep the best-selling smartwatch on store shelves. The Biden White House had until the end of Christmas day to overturn a US International Trade

By Paradise Afshar, CNN (CNN) — The Powerball jackpot climbed to an estimated $685 million after no ticket matched all six numbers to nab the grand prize during Monday night’s Christmas drawing. The top prize up for grabs during the next drawing on Wednesday has a lump-sum option of an estimated $344.7 million, according to

By Laura Dolan, Nicki Brown and David Goldman, CNN New York (CNN) — Some key members of Harvard’s faculty and the university’s top governing body held an extraordinary meeting last week to address the unprecedented problems at one of America’s most prestigious institutions of higher learning. Harvard faces many problems: rising antisemitism on campus and

By Catherine Thorbecke, CNN New York (CNN) — A federal judge has ruled that X, formerly Twitter, must face a lawsuit after staff accused the company of failing to pay bonuses promised to them. The judge on Friday denied X’s motion to dismiss the case. X stands accused of failing to pay out annual bonuses

By Ramishah Maruf, CNN New York (CNN) — It’s been a rough year for some household-name US retailers and businesses. As the economy emerged out of the Covid-19 pandemic, companies faced a laundry list of problems arising from high costs, supply shortages and growing competition. As a result, several big names filed for bankruptcy in

By David Goldman, CNN New York (CNN) – The clock is winding down on a last-minute, emergency action to keep the latest Apple Watch on store shelves. President Joe Biden has until the end of Christmas day to overturn a US International Trade Commission ruling that will prevent Apple from selling the Apple Watch Series

By Michelle Toh, CNN Hong Kong (CNN) — Global shipping giant Maersk will restart operations in the Red Sea after suspending activity there following attacks by Iran-backed Houthi rebels on commercial vessels. The Danish company announced Sunday that it would resume shipments in the Red Sea and Gulf of Aden following the establishment of a

By Samantha Delouya, CNN (CNN) — A holiday celebration for employees of an Airbus subsidiary in France took a turn for the worse earlier this month as dozens of employees became sick after a company Christmas party. “Around 100 Airbus Atlantic employees were taken ill after contracting a food-borne illness after eating the company-organized Christmas

By Robert Ilich, CNN (CNN) — Manchester United announced Sunday that British petrochemical billionaire Sir Jim Ratcliffe purchased a 25% stake in the famed English Premier League soccer club. The sale was confirmed by Manchester United and Ratcliffe-controlled INEOS, a London-based multinational conglomerate. INEOS said in a statement that Ratcliffe will acquire 25% of the

By Nicole Goodkind, CNN New York (CNN) — GM has paused sales of its brand new Chevy Blazer EVs after some customers reported software problems. “We’re aware that a limited number of customers have experienced software-related quality issues with their Blazer EV,” Scott Bell, Vice President of Global Chevrolet, told CNN in a statement. “Customer

By Allison Morrow, CNN New York (CNN) — Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling. It still may have been the industry’s best year ever. The cast of “Crypto 2023” starred figures that are now practically synonymous with fraud: Sam Bankman-Fried, Changpeng Zhao, Alex Mashinsky, and, less prominently,

By Sara Smart, CNN (CNN) — The Powerball jackpot has climbed to $638 million just in time for its next drawing on Christmas night. In the past, three Powerball jackpots have been won on Christmas, according to a news release from Powerball. The last time was 10 years ago when an individual in Missouri won

By Peter Valdes-Dapena, CNN (CNN) — Next year will see the introduction of some new, genuinely affordable electric vehicles as well as a couple of interesting options for the ultra-wealthy. We’ll also see the return of some classic model names. Chevrolet Equinox EV While there are already plenty of electric SUVs on the market, what

By Nicole Goodkind, CNN New York (CNN) — Forget the Super Bowl. For last-minute holiday shoppers, Super Saturday is the sporting event of the year. Christmas Eve falls on a Sunday this year, allowing Americans to take advantage of a weekend of shopping before the holiday. December 23 is expected to be the busiest shopping