Money

By Clare Duffy, CNN New York (CNN) — The Securities and Exchange Commission intends to seek sanctions against Elon Musk over his failure to appear for testimony in an investigation related to his takeover of Twitter, now called X, the regulator said in a court filing Friday. Earlier this year, a federal judge ordered Musk

Reuters (Reuters) — A Johnson & Johnson subsidiary filed for bankruptcy for a third time on Friday as the healthcare giant seeks to advance an approximately $8 billion proposed settlement that would end tens of thousands of lawsuits alleging that the company’s baby powder and other talc products caused cancer. J&J’s Red River Talc unit

By Elisabeth Buchwald, CNN New York (CNN) — Federal Reserve Chair Jerome Powell is known for providing clear signals about the central bank’s next interest rate move in order to avoid roiling markets. But Wall Street was mostly clueless this week when it came to predicting how big a rate cut the Fed would deliver on Wednesday. What made this time different?

By Krystal Hur, CNN New York (CNN) — With the Federal Reserve shifting gears and cutting interest rates by a half point, it’s time for investors, households and businesses to take a long hard look at where their money is. The Fed on Wednesday lowered interest rates, marking the first rate cut since March 2020.

By Chris Isidore, CNN (CNN) — FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy. The company, sometimes seen as a bellwether for the US and global economies by investors, focused most of its

By Anna Chernova and Lauren Kent, CNN (CNN) — Chechen leader Ramzan Kadyrov has accused Tesla CEO Elon Musk of “remotely disabling” his Cybertruck, which had been sent to the frontline of Russia’s war in Ukraine. Kadyrov claimed Thursday that the vehicle, which he said had been outfitted with a machine gun and was “performing well

By Nathaniel Meyersohn, CNN New York (CNN) — Self-service kiosks at McDonald’s and other fast-food chains have loomed as job killers since they were first rolled out 25 years ago. But nobody predicted what actually happened. In one of the earliest mentions of kiosks in fast-food settings in 1999, now-defunct trade industry publication Business Information

By Jordan Valinsky, CNN New York (CNN) — Three Mile Island, the site of worst nuclear disaster in the United States, is reopening and will exclusively sell the power to Microsoft as the company searches for energy sources to fuel its AI ambitions. Constellation Energy announced Friday that its Unit 1 reactor, which closed five

By Anna Cooban, CNN London (CNN) — The European Union will lend Ukraine up to €35 billion ($39 billion), providing the lion’s share of a $50 billion loan agreed by G7 nations earlier this year. European Commission President Ursula von der Leyen announced the loan Friday in a post on X as part of her

By Samantha Delouya, CNN (CNN) — On Wednesday, the Federal Reserve cut interest rates for the first time since the early days of the COVID-19 pandemic, slashing its benchmark rate by half a percentage point and signaling more rate cuts by the end of the year. The housing market is one of the most interest-rate-sensitive

By Brian Stelter, CNN New York (CNN) — One of America’s most acclaimed magazine writers, Olivia Nuzzi of New York magazine, has been placed on leave while a “third-party review” is conducted after the publication said Nuzzi disclosed that she “had engaged in a personal relationship with a former subject relevant to the 2024 campaign

By Chris Lau, Marc Stewart and Martha Zhou, CNN Beijing/Hong Kong (CNN) — As a wedding photographer, Tan Mengmeng’s livelihood depends heavily on people getting married, capturing the joy and happiness of a couple’s love. But China’s marriage rate has been steadily declining and the 28-year-old, who runs a photography studio in central Henan province,

By Ramishah Maruf, CNN New York (CNN) — First, YouTube subjected viewers to longer unskippable ads. Now, not even pausing your screen will let users escape. The Google-owned platform confirmed Thursday that it has “widely rolled out Pause ads to all advertisers.” When the video is paused, an ad will pop up on the side

By Nathaniel Meyersohn, CNN New York (CNN) — Nike, struggling from rising competition and its own strategy mistakes, is making a major shakeup. The athletic giant announced Thursday that CEO John Donahoe will retire next month and will be replaced by Elliott Hill, a veteran former Nike executive. Nike’s stock rose 9% during after-hours trading

By Hadas Gold, CNN New York (CNN) — A group of news organizations filed an emergency petition Thursday, asking Nevada’s highest court to unseal the ongoing family succession battle playing out in a Reno courtroom that will determine the future of Rupert Murdoch’s vast media empire. Murdoch is seeking to amend the family trust that he established decades ago, giving his four oldest children equal

By Krystal Hur, CNN New York (CNN) — Stocks jumped Thursday as investors cheered the Federal Reserve’s eye-popping half-point interest rate cut. The Dow closed 522 points, or 1.3%, higher, reaching a new record after passing the 42,000 level for the first time. The S&P 500 rose 1.7%, topping 5,700 for the first time and

By Jordan Valinsky, CNN New York (CNN) — Once a holdout on offering delivery for the casual diner, Olive Garden is reversing course and will use Uber to deliver breadsticks and pasta. Darden Restaurants, the chain’s parent company, announced Thursday an “exclusive multi-year delivery partnership” with Uber that will begin later this year at a

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — The strike at Boeing by 33,000 members of the International Association of Machinists union, which reaches its seventh day today, has already cost the company and workers $572 million, according to an estimate from Anderson Economic Group. And the pace of losses will climb