Money

By Jackie Wattles, CNN (CNN) — Amazon just inked a deal with chief competitor and Elon Musk-helmed SpaceX to launch internet-beaming satellites — a move that comes even as Amazon founder Jeff Bezos pursues his own space dreams with his own rocket company, Blue Origin, and as SpaceX builds its own internet constellation. While Musk

By Peter Valdes-Dapena, CNN New York (CNN) — Back In 2019, Tesla designer Franz von Holzhausen tried to show off the Cybertruck’s shatterproof windows by throwing a metal ball at each of the truck’s left side windows. The unbreakable windows… broke. “Oh my f**king God,” said Musk at that memorably awkward moment. “Well, maybe that

By Nathaniel Meyersohn, Parija Kavilanz and Samantha Murphy Kelly, CNN New York (CNN) — Walmart confirmed on Friday that it is not advertising on X, the social media platform owned by Elon Musk and formerly known as Twitter. “We are not actively advertising on X. This is not about a specific change to our advertising

By Anna Cooban, CNN London (CNN) — The world’s first cargo ship that produces nearly zero planet-heating pollution is on track to set sail in 2026, according to one of the firms behind the project. Fertilizer producer Yara International and its partners plan to power the Yara Eyde — which is yet to be built — mostly

By Bryan Mena, CNN Washington, DC (CNN) — Investors have mostly concluded that the Federal Reserve is done hiking interest rates, and are already looking toward rate cuts next year, possibly as early as in the first half of 2024. Fed Chair Jerome Powell says: Not so fast. “Having come so far so quickly, the

By Michelle Toh, CNN Hong Kong (CNN) — A US regulator has hit the China arm of prestigious “Big Four” firm PwC with a $7 million fine. The company failed to detect or prevent extensive cheating by its staff during internal training exams in mainland China and Hong Kong, the US Public Company Accounting Oversight

By Laura He, CNN Hong Kong (CNN) — Two Chinese business executives at companies controlled by the embattled financial conglomerate Zhongzhi have gone missing, according to statements by their respective firms. The development comes just days after Chinese authorities launched a criminal investigation into the troubled shadow bank, one of China’s largest. Last week, Zhongzhi told

By Samantha Delouya and Brian Fung, CNN (CNN) — A federal judge on Thursday temporarily halted Montana’s groundbreaking statewide TikTok ban, which was set to go into effect at the start of 2024, pending a trial on the matter. In an order, US District Judge Donald Molloy said that despite the state government’s attempt to

By Nicole Goodkind, CNN New York (CNN) — The Dow reached a new high for the year Thursday as easing inflation data and strong third quarter earnings from Salesforce shot the benchmark index 520 points, or 1.5% higher. While it was a mixed day for markets overall, all three major indexes managed to make November

By Krystal Hur, CNN New York (CNN) — Activist shareholder Nelson Peltz’s Trian Fund Management has launched a new proxy fight against Disney, just months after backing off from its earlier push after returned chief executive Bob Iger announced a vast cost-cutting plan for the media conglomerate. “Investor confidence is low, key strategic questions loom,

By Samantha Murphy Kelly, CNN (CNN) — A judge dismissed a lawsuit filed by the state of Indiana against TikTok accusing the company of making false claims about the safety of user data and age-appropriate content. Judge Jennifer DeGroote of Allen County Superior Court in Fort Wayne, Indiana, said the court “lacks personal jurisdiction” over TikTok

By Parija Kavilanz, CNN New York (CNN) — Federal consumer safety regulators are pushing ahead in their effort to make baby loungers safer by proposing a major redesign of the products, following 79 deaths connected with their use. The Consumer Product Safety Commission on Wednesday voted to adopt proposed agency recommendations for changes to lounger

By Nathaniel Meyersohn, CNN New York (CNN) — From the Chicago Bulls’ bright red courts to the New Orleans Pelicans’ purple and neon green scheme, bold — and highly polarizing — basketball court designs are helping the NBA draw viewers for its first-ever regular season tournament. The tournament was created as a result of a

By Brian Fung, CNN Washington (CNN) — Instagram-parent Meta has sued the Federal Trade Commission in an attempt to prevent regulators from reopening the company’s landmark $5 billion privacy settlement from 2020 and and from banning the social media giant from monetizing the user data of children. Thursday’s lawsuit in Washington federal court calls for

By Anna Cooban and Elisabeth Buchwald, CNN London (CNN) — Several OPEC+ countries agreed to voluntarily cut oil production by a total of 2.2 million barrels per day in the first quarter of 2024, the oil producing group announced Thursday. Saudi Arabia, the world’s biggest exporter of crude oil, will lead the effort by extending

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates continued to drop this week. It’s the fifth straight week rates have moved lower. The 30-year fixed-rate mortgage fell to an average of 7.22% in the week ending November 30, down from 7.29% the week before, according to data from Freddie Mac released Thursday. A

By Jordan Valinsky, CNN New York (CNN) — Soccer superstar Cristiano Ronaldo is facing a $1 billion class action lawsuit for his promotion of Binance, the world’s biggest crypto exchange. The lawsuit, filed Tuesday in a Florida court, said that Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities