Money

By Jeanne Sahadi, CNN New York (CNN) — For the third time in a row, the Federal Reserve on Wednesday decided not to raise (or lower) its key interest rate. Consequently, the Fed’s benchmark lending rate will remain at its highest level in 22 years. Given that the Fed influences — directly or indirectly —

By Brian Fung, CNN Washington, DC (CNN) — The US government proposed a crackdown on cable television companies’ billing practices Wednesday as it announced plans to ban early-termination fees and to introduce fresh rules that could lead to consumer refunds if a subscriber cancels a plan mid-month. The proposal by the Federal Communications Commission would impose new

By Jordan Valinsky, CNN New York (CNN) — Former BP CEO Bernard Looney is forfeiting about $40 million in severance because the company’s board determined he engaged in “serious misconduct” for not fully disclosing his relationships with employees that led to his dismissal. “Following careful consideration, the board has concluded that, in providing inaccurate and

By Jon Passantino, CNN New York (CNN) — OpenAI will pay publishing giant Axel Springer to use its news content in the company’s artificial intelligence products, marking a “first of its kind” global publishing deal that will allow the ChatGPT creator to train its AI models on the news organization’s reporting. As part of the

By Elisabeth Buchwald, CNN New York (CNN) — Inflation slowed down again in November, with prices across all goods and services rising at a weaker pace of 3.1% on an annual basis, according to the latest Consumer Price Index. That’s a big improvement from November 2022 when prices rose at a pace of 7.1% compared

By Jennifer Korn, CNN New York, NY (CNN) — Apple is rolling out an iPhone security update to keep thieves out of your device. Serving as an extra layer of protection for the vast amount of personal data kept on iPhones, the new feature intends to keep criminals out by adding additional steps to access

By Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve has a lot of sway over the US economy and financial markets. But there’s one thing it doesn’t have: the ability to get interest rates to the exact level it wants. How could that be? Doesn’t the Federal Reserve control interest rates? Actually, no,

By Matt Egan, CNN New York (CNN) — J. Larry Jameson, the University of Pennsylvania’s newly installed interim president, called the past few weeks of turmoil a “profoundly painful chapter” for the Ivy League school. Jameson, UPenn’s longest-serving dean, was tapped Tuesday to replace Liz Magill on an interim basis after she stepped down over

By Alaa Elassar, CNN (CNN) — Haraz Coffee House in Dearborn, Michigan, is usually teeming with customers eager for a taste of its delicious Yemeni coffee – but on Monday there wasn’t a single person in sight. The popular café on Michigan Avenue was closed, as its owner and employees participated in a global strike

By Mark Thompson, CNN London (CNN) — Airbnb has agreed to pay 576 million euros ($621 million) to settle a longstanding dispute over unpaid taxes in Italy. Italian prosecutors said last month that the company owed as much as €779 million ($840 million) in short-term rental taxes that it had failed to pay on behalf

By Alicia Wallace, CNN New York (CNN) — Tumbling energy prices helped to bring US wholesale inflation down below pre-pandemic levels and to its second-lowest rate this year. The Producer Price Index, which measures the average price changes that businesses pay to suppliers, rose at a slower pace of 0.9% for the 12 months ended

By Jordan Valinsky, CNN New York (CNN) — Kid Rock is changing his tune on Bud Light. He was one of the first people to declare a boycott on Bud Light after the beer brand briefly partnered with a transgender influencer, leading to a significant and lasting sales slump. Rock told Tucker Carlson on his X

CNN By Chris Isidore, CNN New York (CNN) — Tesla is recalling nearly all 2 million of its cars on US roads to limit the use of its Autopilot feature following a two-year probe by US safety regulators of roughly 1,000 crashes in which the feature was engaged. The limitations on Autopilot serve as a

By Oliver Darcy, CNN New York (CNN) — The future is now. The New York Times on Tuesday announced the creation of a new newsroom position: editorial director of artificial intelligence initiatives. For the pioneering role, The NYT tapped Zach Seward, founding editor of the technology-focused outlet Quartz. Seward, The NYT said, will work to

By Chris Isidore, CNN New York (CNN) — Tesla is recalling nearly all 2 million of its cars on US roads to limit the use of its Autopilot feature following a two-year probe by US safety regulators of roughly 1,000 crashes in which the feature was engaged. The limitations on Autopilot serve as a blow

By Juliana Liu, CNN Hong Kong (CNN) — Video-sharing platform TikTok has become the first app that isn’t a mobile game to generate $10 billion in global consumer spending, according to a new report, and is expected to become the highest earning app ever. The other four apps identified by app intelligence provider data.ai as having

By Ramishah Maruf, CNN New York (CNN) — Amazon, Target and Walmart have voluntarily stopped selling water beads marketed for children after government officials, lawmakers and public health professionals called for a ban on the toys. Water beads are tiny balls made out of extremely absorbent polymer material. When exposed to liquid, they can expand

By Krystal Hur, CNN New York (CNN) — Argentina will devalue the peso by more than 50% as part of emergency measures to help the nation’s struggling economy, the country’s Economy Minister Luis Caputo announced Tuesday. The stark move changes the official conversion rate to 800 pesos per dollar from 365 pesos and comes just