Money

By Olesya Dmitracova, CNN London (CNN) — Industrial production in Europe’s biggest economy fell 1.5% in June compared with May, driven by a 3.5% drop in Germany’s vast automotive sector. The decline in German industrial output, much steeper than forecast by economists, raises the risk that the manufacturing heavyweight will contract again later this year,

By Chris Isidore and Michelle Toh, CNN New York/Hong Kong (CNN) — Yellow Corp., a once-dominant US trucking company, has filed for bankruptcy as it winds down its 99-year-old business that employs 30,000 workers. The Nashville-based logistics provider announced Sunday it had filed for Chapter 11 relief in the US Bankruptcy Court for the district

By Eva Rothenberg, CNN New York (CNN) — On the same day “Barbie” passed its billion-dollar box office milestone, the other half of the viral “Barbenheimer” phenomenon blew past the half-billion-dollar mark. Since its release three weeks ago, Christopher Nolan’s “Oppenheimer” has made $552.9 million worldwide, according to official estimates from Universal Pictures. It is

CNN, WBZ, WARNER BROS. PICTURES, PARAMOUNT, UNIVERSAL PICTURES, UNIVERSAL, BOX OFFICE PRO, Warner Bros. Pictures/Universal By Eva Rothenberg, CNN New York (CNN) — On the same day “Barbie” passed its billion-dollar box office milestone, the other half of the viral “Barbenheimer” phenomenon blew past the half-billion-dollar mark. Since its release three weeks ago, Christopher Nolan’s

By Eva Rothenberg, CNN (CNN) — The possible showdown between Elon Musk and Mark Zuckerberg will be streamed on X, formerly known as Twitter, according to Musk. In a pair of tweets Sunday morning, the platform’s owner said he was “lifting weights throughout the day, preparing for the fight,” adding “all proceeds will go to

By Eva Rothenberg, CNN New York (CNN) — “Barbie” has answered the billion-dollar question with a resounding “yes.” Barely three weeks into its run, writer-director Greta Gerwig’s blockbuster has raked in an astounding $1.03 billion at the global box office, according to official Warner Bros. estimates. This makes Gerwig the first female director with a

By Eva Rothenberg, CNN (CNN) — The US economy is resilient, but policymakers need to take the long view on the country’s fiscal challenges, three former Treasury secretaries told CNN’s Fareed Zakaria on Sunday. Last week, Fitch Ratings, one of the world’s top credit rating’s agencies, downgraded the US government’s credit rating from a stellar

By Alicia Wallace, CNN Minneapolis (CNN) — A slew of new bills signed into law by Republican Florida Gov. Ron DeSantis has draped the Sunshine State in controversy, spurring protests, lawsuits and travel advisories warning the state is “openly hostile” toward people of color, immigrants, women and LGBTQ+ community members. The fallout is starting to

By Brian Fung, CNN (CNN) — The crushing demand for AI has also revealed the limits of the global supply chain for powerful chips used to develop and field AI models. The continuing chip crunch has affected businesses large and small, including some of the AI industry’s leading platforms and may not meaningfully improve for

By Matt Egan, CNN New York (CNN) — The Wells Fargo glitch that made some customers’ direct deposits disappear from their bank accounts is over, the bank said on Saturday. “All accounts have been resolved and are showing accurate balances and transactions,” Wells Fargo spokesperson Amy Bonitatibus said in a statement to CNN. “We sincerely

By Eva Rothenberg, CNN New York (CNN) — Berkshire Hathaway on Saturday reported a jump in earnings in the second quarter of 2023, recovering from large investment losses a year ago, when the bear market flummoxed even the most successful investors like Berkshire Chairman Warren Buffett. Operating earnings totaled $10 billion in the second quarter,

By Ellie Stevens, CNN (CNN) — What are some of the most packed movie screenings at the Maya Cinemas Fresno 16 in Fresno, California, these days? “Oppenheimer?” The multiplex’s dozen daily showings of “Barbie?” Actually, it’s the matinees of both. In the early afternoons, when temperatures in central California have been circling triple-digits, people start

By Elisabeth Buchwald, CNN New York (CNN) — Recently I was carded for trying to buy a lemonade. I thought the cashier was joking. Then she pointed to the label reading “spiked.” I laughed and opted for a regular lemonade instead, since it was 2 p.m. on a Wednesday. It’s an easy mistake to make

By Nathaniel Meyersohn, CNN New York (CNN) — In the 1910s, US cities began enacting policies that would shape neighborhoods and, unintentionally, lay the roots for the severe housing shortage today: single-family zoning laws. Zoning laws, at their most basic, follow a simple concept. In one part of town, only factories can be built. In

By Samantha Delouya, CNN (CNN) — Billionaire investor Leon Black struck a multi-million dollar settlement with the government of the US Virgin Islands to avoid any legal claims tied to a Jeffrey Epstein sex-trafficking investigation. According to a settlement document obtained by CNN, Black agreed in January to pay the Virgin Islands government $62.5 million

By Michelle Toh, CNN Hong Kong (CNN) — What happens when Asia’s biggest potato chip maker runs out of potatoes? Japanese snack brand Calbee had to learn the hard way. Extreme weather disruptions and supply chain snags forced the company to hike prices three times last year and rethink how it sources its most important