Money

By Bryan Mena, CNN Washington, DC (CNN) — Spending at US retailers tumbled much more than expected in January as cold weather across the United States kept shoppers at home after a robust holiday spending season. Retail sales, which captures spending on all goods and food services, fell 0.8% in January, the Commerce Department reported

By Jordan Valinsky, CNN New York (CNN) — Starbucks customers who use a Bank of America card will now get additional cash back for their purchases as part of a new partnership between the two companies. Beginning Thursday, Bank of America credit and debit cardholders who are also part of the Starbucks Rewards loyalty program

By Hanna Ziady, CNN London (CNN) — The United Kingdom has slipped into recession just months ahead of a general election, official figures showed Thursday, derailing Prime Minister Rishi Sunak’s pledge to generate economic growth. Gross domestic product fell 0.3% in the final three months of 2023, following a 0.1% contraction in the July-to-September period,

By Laura He and Hanako Montgomery, CNN Hong Kong/Tokyo (CNN) — Japan’s economy has contracted unexpectedly because of weak domestic consumption, pushing the country into recession and causing it to lose its position as the world’s third largest economy to Germany. Gross domestic product (GDP) shrank at an annualized pace of 0.4% in the last

By Matt Egan, CNN New York (CNN) — Last month, battery recycling company Redwood Materials broke ground on a $3.5 billion battery plant in South Carolina that is expected to create 1,500 new jobs. The plant aims to eventually make enough battery components to power more than a million electric vehicles a year. Redwood Materials specifically

By Sean Lyngaas and Alta Spells, CNN (CNN) — Officials in Georgia’s Fulton County, which includes parts of Atlanta, said Wednesday that “financially motivated” hackers appeared to be behind a ransomware attack that has disrupted key county services for weeks. “Early today, we became aware that cybercriminals claiming responsibility for this incident listed Fulton County

By Ramishah Maruf, CNN New York (CNN) — SpaceX wants to move its business incorporation location from Delaware to Texas, according to a Wednesday filing to the Texas Secretary of State. The move by the Elon Musk-owned company comes after a Delaware state judge struck down Musk’s 2018 Tesla pay package, siding with a shareholder

By Samantha Murphy Kelly, CNN (CNN) — New York City is suing a handful of social media networks, alleging their platforms’ designs exploit young users’ mental health and cost the city $100 million in related health programs and services each year. In the lawsuit against TikTok, Instagram, Facebook, Snapchat and YouTube, the city of New

By Samantha Delouya, CNN (CNN) — Technology company Cisco announced Wednesday that it plans to lay off 5% of its global workforce, amounting to thousands of employees, as part of a company-wide restructuring. Cisco joins a long list of tech companies that have announced workforce cuts in recent months. The networking hardware and software maker

By Brian Fung, CNN Washington (CNN) — US companies may find themselves under federal scrutiny if they “quietly” try to funnel customers’ personal information into training artificial intelligence models, the government warned this week. The warning by the Federal Trade Commission, the nation’s top privacy and consumer protection agency, highlights the enormous value of Americans’

By Krystal Hur, CNN New York (CNN) — Wall Street’s favorite artificial intelligence darling is continuing to swell to staggering heights. Nvidia’s market capitalization rose to $1.83 trillion on Wednesday, nudging past Alphabet’s $1.82 trillion market cap. Shares of the Santa Clara-based chipmaker rose 2.5% to $739 a share, while Alphabet shares ended the session

By Liam Reilly, CNN (CNN) — About one-third of Republicans say they believe Taylor Swift is involved in a covert government effort to help Joe Biden win the 2024 presidential election, a poll published Wednesday from Monmouth University found. The absurd and baseless conspiracy theory in question, which was popularized in right-wing media ahead of Super Bowl LVIII, alleges Swift’s relationship with Kansas City Chiefs tight end

By Chris Isidore, CNN New York (CNN) — Angela Chao, CEO of the shipping company the Foremost Group and sister of former US cabinet secretary Elaine Chao, was killed in a car crash in Texas on Sunday, according to a spokesperson for her company. Angela Chao, 50, had been CEO of the shipping company since

By Mostafa Salem, CNN Abu Dhabi (CNN) — Starlink internet service, operated by Elon Musk’s SpaceX, will be provided to the UAE’s field hospital in southern Gaza for patients needing real-time video medical consultations, the UAE’s foreign ministry said on Wednesday. Communication services in Gaza have blacked out several times over the past four months,

By Peter Valdes-Dapena, CNN (CNN) — Waymo, the self-driving car division of Google’s parent company, Alphabet, issued a recall for its own self-driving car software after two of its vehicles hit the same truck minutes apart. Minutes apart from one another, two Waymo cars came across the same tow truck that was pulling a pickup

By Clare Duffy, CNN New York (CNN) — Someone get Mark Zuckerberg a gadget review YouTube channel, stat. The Meta CEO on Monday posted a video review of Apple’s Vision Pro, the new rival mixed reality headset to Meta’s Quest 3. “Alright, guys, so, I finally tried Apple’s Vision Pro,” Zuckerberg begins in the video,

By Brian Fung, CNN Washington (CNN) — Artificial intelligence is already sowing chaos and confusion in US elections — from a bogus robocall impersonating President Joe Biden to a falsified hot-mic recording apparently designed to torpedo a Chicago mayoral campaign. The country urgently needs new laws to prevent deepfakes and other AI-created misinformation from overwhelming

By Chris Isidore, CNN New York (CNN) — Delta Air Lines is paying out $1.4 billion in profit sharing, more than double what it paid employees a year ago. The payments, which more than 100,000 Delta employees received Wednesday, come to about 10% of their annual salary, or more than a month’s pay. All Delta

By Alicia Wallace, CNN New York (CNN) — Americans who are already facing some money trouble are more intensive users of “Buy Now, Pay Later” offerings, with the majority of them tapping the short-term installment payment programs five or more times a year, according to new research released Wednesday by the Federal Reserve Bank of

By Jordan Valinsky, CNN New York (CNN) — William “Bill” Post, who helped create Pop-Tarts, the pantry staple that reinvented breakfast for the masses, has died. He was 96. “We are deeply saddened to share the news that William ‘Bill’ Post passed away over the weekend,” Pop-Tarts owner Kellanova said in a statement. “He played