Money

By Oliver Darcy, CNN New York (CNN) — Rupert Murdoch, the powerful right-wing media mogul who built and oversaw one of the world’s most influential news empires, announced Thursday that he will step down as chairman of his companies, Fox Corporation and News Corporation. “For my entire professional life, I have been engaged daily with

By Hanna Ziady, CNN London (CNN) — The Bank of England paused its historic interest rate hiking campaign for the first time in nearly two years Thursday after inflation fell unexpectedly in August. The decision keeps the main borrowing cost for commercial banks in the United Kingdom at 5.25% — still the highest level since

By Laura He, CNN Hong Kong (CNN) — China’s exports of two rare minerals essential for manufacturing semiconductors fell to zero in August, a month after Beijing imposed curbs on sales overseas, citing national security. China produces about 80% of the world’s gallium and about 60% of germanium, according to the Critical Raw Materials Alliance,

By Michelle Toh, CNN Hong Kong (CNN) — Huawei has joined the list of companies that want to be all about artificial intelligence. For the first time in about 10 years, the Chinese tech and telecoms giant announced its new strategic direction on Wednesday, saying it would shift its focus to AI. Previously, the company

By Oliver Darcy and Chris Isidore, CNN (CNN) — For the first time in months, Hollywood studios and striking writers have made progress in their negotiations, potentially nearing an end to a more-than-140-day strike that has frozen production. Writers and heads of the four major studios are set to meet for a second consecutive day

By Samantha Delouya, CNN (CNN) — The threat of a strike at one competitor and the bankruptcy of another proved beneficial for FedEx this summer. Overall, adjusted earnings for FedEx’s fiscal first quarter were $4.55 a share, up from $3.44 a share this time last year. The company raised its earnings-per-share guidance for fiscal 2024

By Laura He and Berry Wang, CNN Hong Kong (CNN) — A Chinese wildlife conservation group issued an unusual appeal earlier this month. The Endangered Species Fund called for volunteers to donate food to hungry animals kept at a zoo inside Dongshan Park in the northern province of Liaoning. The zoo is run by the

By Matt Egan, CNN (CNN) — Ukrainian President Volodymyr Zelensky met Wednesday evening in Manhattan with Wall Street CEOs and business power players to discuss efforts to rebuild his war-torn country and its economy, a person familiar with the matter tells CNN. The roundtable, convened by JPMorgan Chase, included former Google CEO Eric Schmidt, billionaire

CNN By Olga Voitovych, Manveena Suri and Lauren Kent, CNN Kyiv, Ukraine (CNN) — Ukraine endured a deadly nationwide Russian missile barrage targeting energy facilities in Kyiv and other cities on Thursday, just hours before President Volodymyr Zelensky was set to meet US President Joe Biden at the White House. Five people died in the

By Ramishah Maruf, CNN New York (CNN) — PETA said it’s “cracking open some cold ones” after Anheuser-Busch said it’s ending the practice of cutting the tails of Budweiser’s iconic Clydesdale horses. Budweiser has featured the horses, with their ubiquitous white feathered legs, in its ad campaigns for decades, from the holidays to the Super

By Tami Luhby, CNN New York (CNN) — After several years of skyrocketing winter heating costs, millions of Americans are expected to finally get a little relief this coming season — if they heat their homes with natural gas, that is. Natural gas heating, which is used by just under half of US homes, is

By Jennifer Korn, CNN New York (CNN) — A group of famous fiction writers joined the Authors Guild in filing a class action suit against OpenAI on Wednesday, alleging the company’s technology is illegally using their copyrighted work. The complaint claims that OpenAI, the company behind viral chatbot ChatGPT, is copying famous works in acts

By Jeanne Sahadi, CNN New York (CNN) — The Federal Reserve on Wednesday chose not to raise its key interest rate, the same decision it took following its September meeting, leaving its benchmark lending rate at its highest level in 22 years. Given that the Fed influences — directly or indirectly — interest rates on

By Vanessa Yurkevich, CNN (CNN) — Stellantis is immediately laying off 68 employees at the Toledo Machining Plant in Perrysburg, Ohio, due to the impact from the United Auto Workers union’s targeted strike at the Toledo Assembly Complex, the company said Wednesday. The layoffs will be temporary and are due to storage constraints, Stellantis said

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage applications rose last week, even as mortgage rates remain stubbornly high, an indication that at least some buyers are determined to move forward with a home purchase in one of the most challenging markets in decades. For the week ending September 15, the total number of

By Jennifer Korn, CNN New York (CNN) — Elon Musk’s controversial biotechnology startup Neuralink opened up recruitment for its first human clinical trial Tuesday, according to a company blog. After receiving approval from an independent review board, Neuralink is set to begin offering brain implants to paralysis patients as part of the PRIME Study, the

CNN By Samantha Murphy Kelly, CNN (CNN) — You’re about to see people in public tapping two fingers together in the air. Over the past few days, I’ve been taking phone calls, playing music and scrolling through widgets on the new Apple Watch Series 9 without ever touching the device. I’ve used it to silence

By Brian Fung, CNN Washington (CNN) — A spokesman for former President Donald Trump said Wednesday that Donald Trump Jr.’s account on X – the platform formerly known as Twitter – had been compromised after the account began sharing a series of unusual and erratic posts. “Don’s account has been hacked,” Andrew Surabian posted on

By Elisabeth Buchwald, CNN New York (CNN) — At any given moment, if you want to know what the Federal Reserve is most likely to do at any of its meetings through the end of 2024, you can head to the Chicago Mercantile Exchange Group’s FedWatch Tool page. There, you will find a bar chart

By Hanna Ziady, CNN London (CNN) — The UK government said Wednesday it would delay a ban on the sale of new gas and diesel cars by five years, angering carmakers who warned the move would undermine the industry’s efforts to switch to electric vehicles. The delay was announced by Prime Minister Rishi Sunak as