Money

By Michelle Toh, CNN Hong Kong (CNN) — Diversification away from China is increasing, and it doesn’t just affect foreign companies, according to HSBC CEO Noel Quinn. Speaking at the Bloomberg New Economy forum in Singapore on Wednesday, Quinn said the head of one of HSBC’s units had recently reported a 70% jump “in activity

By Krystal Hur, CNN New York (CNN) — Wall Street gained Tuesday as the continued slide in Treasury yields helped propel stocks higher. The S&P 500 index climbed for the seventh day in a row, its longest streak of gains since November 2021, when the benchmark index rose for eight straight sessions. The Nasdaq Composite

By Jordan Valinsky, CNN New York (CNN) — More than two dozen Republican members of Congress sent a letter to University of Pennsylvania President Liz Magill condemning the school’s “shocking lack of a prompt and unequivocal condemnation” of the October 7 attacks in Israel by Hamas. The letter, dated November 1, comes after the college

By Matt Egan, CNN New York (CNN) — The last time America’s housing market was this unaffordable, Ronald Reagan was in the White House. It now takes nearly 41% of the median household’s monthly income to cover the principal and interest payments on a median-priced home, according to research from Intercontinental Exchange. It comes at a time

By Brian Fung, CNN Washington (CNN) — Meta’s top executives, including CEO Mark Zuckerberg, ignored warnings for years about harms to teens on its platforms such as Instagram, a company whistleblower told a Senate subcommittee on Tuesday. Meta instead fosters a culture of “see no evil, hear no evil” that overlooks evidence of harm internally

By Nathaniel Meyersohn, CNN New York (CNN) — America has a glut of empty offices. Now, some offices face losing WeWork, which has more than 600 locations in major cities. WeWork filed for Chapter 11 bankruptcy Monday, throwing the future of the real estate company up in the air. WeWork said it would terminate some

By Matt Egan, CNN New York (CNN) — A growing number of cash-strapped Americans are cracking their nest eggs for emergency funds. The number of 401(k) plan participants taking hardship distributions increased by 13% between the second and third quarters, according to an analysis by Bank of America of its clients’ employee benefit programs. That figure now

By Alicia Wallace, CNN Minneapolis (CNN) — The resilient consumer has kept the US economic engine running, but it’s coming at a big cost: Americans are piling up record credit card balances, and more and more are falling behind on those payments. During the third quarter, credit card balances hit a fresh high of $1.08 trillion, rising $48

By Anna Bahney, CNN Washington, DC (CNN) — When Michael Monaghan, a real estate agent with Coldwell Banker Sellers Realty in northern California, got an offer for a home in Bayside at the seller’s $650,000 list price in September, he told the buyer’s agent that the buyer needed to start looking for insurance immediately. “I

By Jeanne Sahadi, CNN New York (CNN) — If you’ve always thought you might be happier with a four-day workweek, you’re hardly alone. When asked how six different options would impact their well-being at work, a full 77% of US workers said a four-day, 40-hour workweek would have a positive impact, with 46% saying it

By Parija Kavilanz, CNN New York (CNN) — Walmart announced Tuesday that it is making changes to create a calmer shopping experience, at least for a few hours every day in all of its US stores. Set to be implemented on Nov. 10, the changes include setting in-store TV walls to a static image, turning

By Barbie Latza Nadeau, CNN Rome (CNN) — Italian tax authorities are poised to seize some €779 million ($836 million) from Airbnb as a result of its alleged failure to pay taxes owed by landlords using the platform. It’s the latest sign of intense scrutiny of short-term rentals that have proliferated in big cities in

By Matt Egan, CNN New York (CNN) — Federal Reserve officials are urging banks to work with customers hurt by ongoing deposit delays that have prevented some people from accessing their paychecks and other funds. A number of customers still haven’t received their direct deposit paychecks following a “human error” that damaged the plumbing of America’s banking

By Jordan Valinsky, CNN New York (CNN) — For those that can’t get enough of espresso martinis, there’s now a gift that smells like the iconic cocktail that’s experiencing a resurgence for its 40th birthday. Absolut Vodka and Kahlúa coffee liqueur, two spirits that are often mixed to create an espresso martini, are releasing a

By Diksha Madhok, CNN (CNN) — The CEO of a Chinese live-streaming service backed by Tencent has become the latest high-flying executive to fall mysteriously silent in the world’s second largest economy. According to a Monday report from the Cover News, a state-owned media outlet, DouYu (DOYU) CEO Chen Shaojie has been unreachable in recent days.

By Oliver Darcy, CNN (CNN) — How do you interview election deniers? George Stephanopoulos offered an example on Sunday. In a remarkable exchange with Rep. Steve Scalise that aired on “This Week,” the ABC News anchor pressed the Republican House Majority Leader no less than a half dozen times on what should have been a

By Clare Duffy, CNN New York (CNN) — Just over a year ago, Alphonzo Terrell received an email letting him know he’d been laid off from Twitter. Terrell – who’d spent three years heading the platform’s social and editorial teams – was among the roughly 3,700 employees let go from the company on Nov. 4,

By Michelle Toh, CNN Hong Kong (CNN) — Senior Chinese officials have defended the state of the world’s second largest economy at a conference in Hong Kong, telling global financiers not to worry about prospects in China despite an uneven recovery and ailing property market. In a recorded message, Vice Premier He Lifeng told the

By Hanna Ziady, CNN London (CNN) — UBS made a hefty loss in the first full quarter since it closed a deal to rescue Credit Suisse, highlighting the scale of the challenge the bank faces as it absorbs its stricken rival. The Swiss lender reported a net loss of $785 million for the June-to-September quarter