Money

By Chris Isidore, Arlette Saenz and Kayla Tausche, CNN New York (CNN) — President Joe Biden said Friday he is blocking a $14.3 billion acquisition of US Steel by Japan’s Nippon Steel, marking a significant use of executive authority in the closing days of his administration. “As I have said many times, steel production –

By Alexandra Skores, CNN (CNN) — Nearly a year after a door plug blew off an Alaska Airlines 737 Max 9 aircraft, Boeing says it has made strides improving safety for airline passengers. The company announced Friday that it focused on four main categories of improvements: elevating safety and quality culture, investing in workforce training,

By Chris Isidore, CNN New York (CNN) — Honda and Nissan are the latest automakers to discuss combining forces. They won’t be the last. The two Japanese automakers announced last week that they plan to merge and create the world’s third largest automaker. Details aren’t yet finalized, but they expect to announce the combination within

By Juliana Liu, CNN Hong Kong (CNN) — Beijing is planning to curb the export of technology used to extract minerals critical for the growth of the global electric vehicle (EV) industry, as a tech rivalry with Washington escalates ahead of the inauguration of US President-elect Donald Trump later this month. China also wants to

By Clare Duffy, CNN New York (CNN) — Meta’s top policy executive, Nick Clegg, is stepping down from the post just as President-elect Donald Trump is set to take office. His replacement: one of the company’s most prominent Republicans. Clegg, the former UK deputy prime minister, joined the company in 2018 and was elevated to

By Clare Duffy, CNN New York (CNN) — This week’s deadly incidents in New Orleans and Las Vegas have thrust Turo, a car rental platform, into the spotlight, after the cars used in both attacks were rented through its marketplace. Turo calls itself a “peer-to-peer car sharing service,” meaning users can rent cars through the

By Jordan Valinsky, CNN New York (CNN) — Rolex watches, which aren’t known for their affordability, are getting even more expensive this year with the soaring price of gold to blame. Prices on some of the Swiss company’s gold watches jumped as much as 14% for 2025, according to several enthusiast websites that tracks listings.

By Elisabeth Buchwald, CNN New York (CNN) — Mortgage rates are climbing again, in yet another unwelcome sign to homebuyers. The standard, 30-year fixed-rate mortgage averaged just shy of 7% in the final week of 2024 ending on January 2, according to data from mortgage financing giant Freddie Mac. That’s the highest level in nearly

By Brian Stelter, CNN New York (CNN) — An erroneous early Fox News report about the New Orleans terror attack is warping the political dialogue in the aftermath of the deadly rampage. The false report from Fox, which was attributed to anonymous sources, confused the public – and evidently President-elect Donald Trump too. The misinformation

By Chris Isidore, CNN New York (CNN) — Tesla reported the first full-year drop in sales in its history as a public company Thursday, as increased competition and slowing demand for electric vehicles hit its results. The company reported fourth-quarter sales of 495,570 vehicles, up 2% from what it sold a year earlier. But that

By Alicia Wallace, CNN (CNN) — The corks have been popped, the calendar pages turned and a day that promised fresh starts also brought with it some pay bumps for millions of Americans. Hourly minimum wages increased in 21 states on Wednesday, as part of ongoing efforts to have pay keep up with the rising

By Juliana Liu, CNN Hong Kong (CNN) — An economic downturn is supposed to drive spending on small luxuries like going out to the movies. But the world’s second-largest economy, currently mired in a slump, is challenging that long-held theory. Last year, China’s box office receipts plummeted by 23%, compared to 2023, to just 42.5

By Tami Luhby, CNN (CNN) — The nation’s debt ceiling was reinstated Thursday, giving congressional Republicans yet another divisive challenge to contend with in 2025. President-elect Donald Trump is demanding that GOP lawmakers address the limit before he takes office on January 20, but lawmakers have some time since the US is likely months away

By Kosta Gak, Alex Stambaugh and Anna Cooban, CNN Kyiv/London (CNN) — Ukraine has made good on its promise to halt the transport of Russian gas to Europe through its territory after a key deal with Moscow expired on Wednesday. Ukraine’s refusal to renew the transit deal was an expected but symbolic move after nearly

By John Towfighi, CNN New York (CNN) — Stocks had a blockbuster 2023 and 2024. Will 2025 be a three-peat? After two years of substantial gains, Wall Street expects the good times for markets to keep going this year — just not on the massive scale investors have been spoiled with lately. Wall Street forecasts

By Anna Cooban, CNN London (CNN) — A US government fund created to compensate thousands of people scammed by the late Bernie Madoff in history’s biggest Ponzi scheme is making its final batch of payments — and it has now made up nearly all of their losses. The Madoff Victim Fund has started distributing more

By Chris Isidore, CNN New York (CNN) — Boeing’s very bad year ended tragically on Sunday, as a 737 flown by Korean discount carrier Jeju Air crashed, killing 179 passengers and crew on board. It’s not yet clear what caused the jet to crash, and the investigation could take months. There’s no evidence at this

By Ramishah Maruf, CNN New York (CNN) — Historically, “Ladies’ Nights” have been great for business. The discounted drinks or meals tend to draw a large crowd of women, which in turn tends to draw more men — which then leads to packed bars and increased sales for the business. But a family-run restaurant in

By Michael Nam, CNN (CNN) — It may surprise some people unfamiliar with the comic book industry, with its multibillion-dollar movie tie-ins, that it’s been on the verge of collapse multiple times over the decades. Now AI tools are adding new fears of a death knell. From political censorship in the 1950s to a sales

By John Towfighi, CNN New York (CNN) — US markets wrapped up a blockbuster 2024 by marking an achievement so rare that it’s only ever happened a handful of times. Despite US stocks closing lower Tuesday in a disappointing December that saw the Dow drop over 2,000 points, or about 5%, and the S&P 500