Money

By Allison Morrow, CNN New York (CNN) — The value of crypto assets surged Tuesday after a US court cleared a path for the nation’s first bitcoin exchange-traded fund. The ruling is a breakthrough moment for crypto investors and a setback for the Securities and Exchange Commission, which has been trying to rein in the

By Bryan Mena, CNN Washington, DC (CNN) — Americans felt more pessimistic about the economy in August, following two straight months of growing confidence. The Conference Board’s Consumer Confidence Index, which gauges Americans’ attitudes towards the economy and job market, fell to a reading of 106.1 in August, down from 114 in July, reversing the

By Alicia Wallace, CNN Minneapolis (CNN) — The number of available jobs in the United States shrank for the third consecutive month, dropping below 9 million for the first time since early 2021, according to the latest data released Tuesday by the Bureau of Labor Statistics. In addition, a smaller number of workers quit their

By Danielle Wiener-Bronner, CNN New York (CNN) — Best Buy expects declining tech sales to hit a low this year before stabilizing, in another sign of consumer caution around discretionary spending and retail purchases. The consumer electronics store said Tuesday that it is lowering the high end of its forecast for this year, even though

By Anna Bahney, CNN Washington, DC (CNN) — Home prices rose again in June, marking the fifth successive month of gains, and remaining near the all-time highs notched a year ago. Prices rose 0.7% from the month before, according to seasonally adjusted data from the S&P CoreLogic Case-Shiller US National Home Price Index released Tuesday.

By Michael Nam, CNN New York (CNN) — California-based Farmers Insurance said Monday it is laying off 11% of its workforce — or 2,400 employees — in a bid to restructure itself for long-term growth. The jobs being cut are from across all areas of the company, according to a statement on its website. “Given

By Brian Fung, CNN (CNN) — More than a half-dozen leading tech CEOs will be among those attending a highly anticipated artificial intelligence event hosted by Senate Majority Leader Chuck Schumer next month, according to the senator’s office. The September 13 event will involve Google CEO Sundar Pichai and former Google CEO Eric Schmidt; Meta

By Jordan Valinsky, CNN New York (CNN) — 3M has agreed to pay $6 billion to resolve roughly 300,000 lawsuits alleging that the manufacturing company supplied faulty combat earplugs to the military that resulted in significant injuries, such as hearing loss. In a release, 3M said the agreement is “not an admission of liability” and

By Jordan Valinsky and Gregory Wallace, CNN New York (CNN) — All flights from Tampa International Airport have been canceled Tuesday as Hurricane Idalia barrels toward the Florida’s Gulf Coast. So far, that’s the only major airport significantly affected by the storm, which strengthened into a hurricane with maximum sustained winds of 75 mph overnight.

By Eva Rothenberg, CNN New York (CNN) — As it churns toward the disaster-prone Sunshine State, Hurricane Idalia could be a litmus test for Florida’s increasingly volatile and expensive insurance landscape. Despite several insurance companies exiting Florida, experts say the state’s residents are still mostly covered this hurricane season. But insurers are keeping a wary

By Laura He, CNN Hong Kong (CNN) — The United States is not seeking to decouple from China’s economy or hold it back, Commerce Secretary Gina Raimondo told senior Chinese economic officials Tuesday in Beijing. “The US-China commercial relationship is one of the most globally consequential, and managing that relationship responsibly is critical to both

By Junko Ogura and Michelle Toh, CNN Tokyo/Hong Kong (CNN) — Toyota will resume operations at its Japanese assembly plants Wednesday after a 24-hour stoppage caused by disruption to its finely-tuned supply chain. The world’s biggest automaker by sales said that its 14 vehicle factories in the country had paused activity Tuesday because a system

By Michelle Toh, CNN Hong Kong (CNN) — Hundreds of workers are slated to strike at two major liquefied natural gas (LNG) facilities in Australia belonging to Chevron starting next week, after unions voted for work stoppages in an ongoing labor dispute. Offshore Alliance, which represents the Australian Workers’ Union and the Maritime Union of

By Oliver Darcy, CNN (CNN) — News organizations are in a cold war with OpenAI. While a shot has yet to be fired, some of the nation’s largest newsrooms are actively taking defensive measures to safeguard their content from ChatGPT, the groundbreaking artificial intelligence chatbot that is seen as a potential aggressor to an already

By Natasha Chen, Anna-Maja Rappard and Cheri Mossburg, CNN (CNN) — Hawaiian Electric Company said that power lines falling in high winds seem to have caused a fire during the early morning of August 8, but power lines in West Maui had been de-energized for more than six hours by the time a second afternoon

Eva Rothenberg, CNN New York (CNN) — Amazon is raising its free shipping threshold for some customers. To qualify for free shipping, non-Prime members typically have to purchase an order totaling at least $25. On Monday, the e-commerce giant said it has raised that minimum to $35. “We continually evaluate our offerings and make adjustments

By Catherine Thorbecke, CNN (CNN) — OpenAI is releasing a version of its buzzy ChatGPT tool specifically for businesses, the company announced Monday, as an AI arms race continues to ramp up throughout corporate America. OpenAI unveiled the new service, dubbed “ChatGPT Enterprise,” in a company blog post and said it will be available to

By Gregory Wallace (CNN) — American Airlines is facing the largest-ever fine for keeping passengers waiting on board airplanes during hours-long delays. The Department of Transportation is levying the $4.1 million fine, “the largest civil penalty that the Department has ever assessed” it said in a statement, for lengthy tarmac delays of 43 flights that

By Ramishah Maruf, CNN New York (CNN) — Disney’s visual effects crew filed for an election to unionize with the National Labor Relations Board with the backing of the International Alliance of Theatrical Stage Employees (IATSE), the union announced Monday, just weeks after Marvel’s VFX moved to unionize. More than 80% of Walt Disney Picture’s

By Nicole Goodkind, CNN New York (CNN) — Shares of Rite Aid ended Monday’s session higher after a day of highly volatile trading. Rite Aid’s stock price experienced steep swings throughout the trading day, soaring more than 20% higher than its opening price in morning trading and then falling to near-session lows close to midday.