Money

By Nathaniel Meyersohn, CNN New York (CNN) — Birkin handbags are some of the priciest, most exclusive bags in the world. Hermès produces a limited number of Birkins and they can sell for around $450,000. And just having the money often isn’t enough. A new lawsuit brought by two customers in California who were unable

By David Goldman, CNN New York (CNN) — “Buy your mom an iPhone.” That was Apple CEO Tim Cook’s famous response at Vox’s 2022 Code Conference, when a reporter complained that her mother couldn’t see the videos she texted to her mom’s Android phone because they were grainy and slow. It’s also a quip that

CNN By Brian Fung, Hannah Rabinowitz and Evan Perez, CNN Washington (CNN) — The US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market. It’s the largest in a recent string of Big Tech companies to face

By Peter Valdes-Dapena, CNN (CNN) — After four consecutive years of sales growth, sales of ultra-expensive Bentley cars and SUVs were down 11% last year. Bentley chief executive Adrian Hallmark, in a presentation to reporters, blamed “a level of emotional sensitivity” among the brand’s wealthy clientele. In particular, Bentley buyers were sensitive about high interest

By Alicia Wallace, CNN (CNN) — The National Association of Realtors’ recent $418 million settlement to end antitrust legal claims came with a bombshell: Decades-long rules and informal guidelines — notably those that made a 6% commission the norm — could be overhauled. This proposed settlement is not only expected to fundamentally change how Americans

By Bryan Mena, CNN Washington, DC (CNN) — Sales of previously owned homes in the US unexpectedly soared in February to the highest level in a year, in a sign that buyers are returning to the market. Meanwhile, mortgage rates edged higher this week, according to a separate report released Thursday from Freddie Mac. Existing

By Anna Cooban, CNN London (CNN) — The Swiss National Bank surprised markets Thursday by cutting interest rates, becoming the first of the world’s major central banks to do so since they began battling a post-pandemic surge in prices. The SNB announced that it would reduce the cost of borrowing by a quarter of a

By Nicole Goodkind, CNN New York (CNN) — Thursday was a pretty good day for Wall Street — the Dow Jones Industrial Average is closing in on the 40,000 threshold for the first time in its 128-year history as markets rallied to new highs. The Federal Reserve sent stocks soaring on Wednesday after officials kept

By Brian Fung, Hannah Rabinowitz and Evan Perez, CNN Washington (CNN) — The US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market. It’s the largest in a recent string of Big Tech companies to face antitrust

By Hanna Ziady and Mark Thompson, CNN London (CNN) — European Union leaders have endorsed a proposal to use windfall profits on frozen Russian financial assets to assist Ukraine, including spending as much as $3 billion a year on arms and ammunition for the country. The leaders agreed Thursday to further develop the plan presented by the

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. Rupert Murdoch is at risk of being personally dragged into another major lawsuit. Lawyers for Prince Harry and a number of other notable

By Samantha Delouya, CNN (CNN) — Lower pay, intense competition for clients and a massive exodus of realtors. Those are some of the predictions that real estate professionals are making, anxiously, after the recent settlement from the National Association of Realtors with homebuyers, which establishes new rules for brokers that could upend the way Americans

By Tami Luhby, CNN (CNN) — Eddie Martin can’t build as many homes as he’d like in Texas because his contractors don’t have enough workers, particularly skilled tradespeople such as electricians, carpenters and plumbers. This labor shortage, exacerbated by an aging workforce and growing number of retirements, means it’s more crucial than ever for the

By Laura He and Martha Zhou, CNN Hong Kong/Beijing (CNN) — Tim Cook is making a high-profile visit to China that coincides with Apple opening a huge new store in Shanghai — its second biggest in the world. It’s all part of a push by the company to reverse a decline in iPhone sales in its most important international

CNN By Matt Egan, CNN (CNN) — About 10% of US workers are in jobs that face the greatest risk of disruption from rapidly evolving artificial intelligence, according to a White House analysis shared first with CNN. The report represents the most in-depth analysis to date by the White House on the impact of AI

By Matt Egan, CNN (CNN) — About 10% of US workers are in jobs that face the greatest risk of disruption from rapidly evolving artificial intelligence, according to a White House analysis shared first with CNN. The report represents the most in-depth analysis to date by the White House on the impact of AI on

By Diksha Madhok, CNN New Delhi (CNN) — A popular food delivery app in India has sparked controversy, and an abrupt retreat, after launching an initiative to attract vegetarian customers. Earlier this week, Zomato announced plans to introduce a curation of restaurants that serve only “pure vegetarian food.” This list “will exclude all restaurants which

By Melissa Alonso, CNN (CNN) — The Powerball jackpot soared to an estimated $750 million after no ticket matched all six numbers to nab the grand prize Wednesday, according to the lottery’s website. Wednesday’s winning numbers were 13, 22, 27, 54, 66 and Powerball 9. The now larger jackpot – with an estimated cash value of

By Sarah Dewberry, CNN (CNN) — Angela Chao, the shipping company CEO and sister-in-law of outgoing Senate Minority Leader Mitch McConnell, was intoxicated when she drove her Tesla into a lake at a Texas ranch in a fatal crash last month, according to the Blanco County Sheriff’s Office. A 62-page incident report offers a harrowing