CNN – Business/Consumer

By John Towfighi, Hanna Ziady, CNN New York/London (CNN) — A global rout in semiconductor chip stocks sent investors rushing into different sectors and government bonds on Thursday as they looked for safety in other corners of the market.The S&P 500 bounced back from an initial decline and rose 0.33%, led by gains in health

By Hadas Gold, CNN (CNN) — OpenAI is accusing a former employee of stealing intellectual property related to an unreleased device and later sharing some of the information with Apple.The employee, OpenAI alleges, had previously worked at Apple, then joined OpenAI for six months, before going back to Apple, according to a court filing from

By John Towfighi, CNN New York (CNN) — High-flying technology stocks are taking a bruising this week, as investors grow more skeptical about whether the AI boom will live up to expectations.Stocks dropped on Wednesday, led by declines in the tech sector, after a hotter-than-expected inflation report bolstered bets that the Federal Reserve will raise

By Alicia Wallace, CNN (CNN) — It’s not just gas.It’s the car repair, the doctor’s visit, the plane ticket, the computer upgrade, the new clothes.Inflation rose faster than expected last month, and more broadly than expected, with price pressures extending well beyond the pump, new Bureau of Labor Statistics data showed Wednesday.The latest Consumer Price

By Hanna Ziady, CNN London (CNN) — Europe has been conspicuously absent from high-level talks about how to use artificial intelligence safely, despite crafting the world’s first comprehensive set of rules to govern the technology.The irony underscores how far Europe has fallen behind the United States and China in the AI race. Although Europe took

By John Liu, Kathleen Magramo, CNN (CNN) — The president of the European Central Bank played down speculation about intervention in France’s ballooning budget crisis on Wednesday.Asked whether there are plans for the ECB to step in, Christine Lagarde said the solution to the precarious financial state of the European Union’s second-largest economy would be

By John Liu, Kristie Lu Stout, CNN Bangkok/Hong Kong (CNN) — Southeast Asia’s multi-purpose app Grab will work with OpenAI to boost the AI skills of its drivers, sellers and other providers in Thailand, the Singapore-based company announced on Wednesday.The joint program plans to train 3,000 Grab gig workers across Thailand to tap into new

By Hadas Gold, CNN (CNN) — OpenAI discovered a “sophisticated recording device” in one of its offices planted by an employee who has been arrested, the company said Tuesday.The employee, who has since been dismissed by the company, is a Saudi national and has been identified by the US Department of Justice as 35-year-old Abdulrahman

By Samantha Delouya and Richard Quest, CNN (CNN) — The US Treasury Department on Tuesday announced it was imposing a more than $1.2 billion fine on Bank of America, accusing the bank of violating anti-money laundering and sanctions laws.The bank, which is the second-largest in the US, failed to mitigate and report “priority national security

By Matt Egan, CNN New York (CNN) — The deeply unpopular war in the Middle East continues to deliver economic shockwaves through Main Street America.From $4 gas and 7% mortgage rates to surging airfares, the Iran war is significantly raising the cost of living for inflation-weary consumers ahead of the midterm elections.The conflict has cost

By Chris Isidore, Matt Egan, CNN (CNN) — Six Flags shares sank sharply Tuesday to their lowest level since 2009 after a rollercoaster rider tragically fell to his death at a Georgia park. But the company was under legal and financial pressure long before this week’s deadly incident.At roughly $10 per share, Six Flags stock

By Clare Duffy, CNN New York (CNN) — Artificial intelligence chat startup Character.ai— which has faced a wave of claims that its app contributed to mental health issues and suicides among teens — has filed for Chapter 11 bankruptcy.Character.ai lets users message with a range of chatbots, often modeled after celebrities and fictional characters, or

By Lisa Eadicicco, CNN (CNN) — Apple on Tuesday announced the HomeView, its biggest push into the smart home market in nearly a decade.The new device gives Apple’s revamped version of Siri a presence in consumers’ homes, making it a critical piece of Apple’s AI strategy.The HomeView has a 7-inch screen connected to a speaker

By Lisa Eadicicco, CNN (CNN) — It wasn’t your typical concert experience.I watched Billie Eilish from a perspective that felt like I wasn’t in the audience or behind the scenes, but somewhere in between: hovering near the stage alongside the singer as she grasped a fan’s hand in the front row.This is what it’s like

By Tami Luhby, CNN (CNN) — When Stephanie Zebrowski retired and started collecting Social Security in 2018, she was able to get by on her monthly payment with a little left over before the next one arrived.That’s no longer the case. Zebrowski, who worked as a financial editor at a brokerage firm, now finds that

By Allison Morrow, CNN New York (CNN) — The AI industry has been buzzing with concern about potentially catastrophic risks to humanity — a hum of anxiety that’s grown louder as Anthropic prepares to make its stock market debut next month.But companies building AI models like Claude and ChatGPT face a more immediate and prosaic

By Hanna Ziady, CNN American professors Robert E. Hall and Michael Woodford have won the 2026 Nobel prize in economics for developing new economic models that help governments and central banks stabilize their economies to minimize the impact of external shocks.The Royal Swedish Academy of Sciences awarded the prize in Stockholm on Monday.“The laureates have

By Elisabeth Buchwald, CNN (CNN) — Four years ago, with inflation at multi-decade highs, then-Federal Reserve Chair Jerome Powell delivered a blunt message to Americans: Getting inflation under control would come at a cost.The Fed needed to act “forcefully,” Powell told attendees at a key central banker conference that August. Doing so, he cautioned, would

By Chris Isidore, CNN (CNN) — Chances are the last time you listened to a traditional radio was in a car.Maybe you tuned in to a ballgame, a local news report, or a weather or traffic update. Maybe there’s even a talk or music station you’ve listened to for years, if not decades. In a

By Brian Stelter, Evan Perez, CNN (CNN) — The Justice Department is investigating the five major US TV networks for possible antitrust violations, opening yet another front in the Trump administration’s pressure campaign against the press.The probe, which one leading First Amendment group called nonsensical, concerns the TV pool, a long-standing arrangement that was disrupted

By Jordan Valinsky, CNN New York (CNN) — At a darkly lit event in a Manhattan warehouse this week, actress Florence Pugh, Knicks player Karl-Anthony Towns as well as throngs of influencers all gawked at the Jaguar Type 01, the British automaker’s first new model in nearly a decade.A sizzle reel showed the $130,000 all-electric

By Jeanne Sahadi, CNN (CNN) — When it comes to money, Jeff Kizer’s mindset might best be summed up as … chill.Jeff said he loves both his jobs – one as a math teacher at a private school and one as a tennis coach. And he wants to work into his 70s if possible. For

By Jeanne Sahadi, CNN (CNN) — When you’ve spent time amassing savings for your near- and medium-term goals, it’s reasonable to want the best return on your money with little risk of losing your principal. Exactly how you can get that is the question.Douglas Boneparth, certified financial expert and cofounder of Bone Fide Wealth, offers

By Matt Egan, CNN New York (CNN) — Hurricane Isaias is barreling down on the US Gulf Coast at a time when there’s almost no margin for error in the global energy system.The biggest risk is that extreme flooding, wind or power outages from the Category 3 storm disrupts, damages or even destroys refineries.The world

By Charlotte Reck, CNN (CNN) — Sportswear giant Adidas has filed a lawsuit against popular Australian online fashion brand White Fox Boutique for selling and promoting clothes featuring a four-stripe design that Adidas claims is deceptively similar to its own three-stripe trademark, CNN affiliate 7News reported.In a filing lodged with the Federal Court of Australia

By Alicia Wallace, CNN (CNN) — It’s another day, another historically weak reading of how Americans feel about the economy.However, this one is landing right before the midterm elections.The University of Michigan’s closely watched consumer sentiment index fell to a preliminary reading of 46.3 from 48.1 in September. If Friday’s lower-than-expected reading were to hold,

By Elisabeth Buchwald, Matt Egan, CNN (CNN) — President Donald Trump is mounting a fresh offensive in his battle to oust Federal Reserve Governor Lisa Cook, forming a committee of his own appointees to investigate allegations against her.The committee will investigate alleged false statements Cook made in connection with mortgages on two properties and hold

By Chris Isidore, CNN (CNN) — Delta Air Lines reported a huge jump in fuel costs, but said passengers are continuing to book flights despite the significantly higher airfares.That’s why Delta is betting travelers will keep paying more to fly this holiday season.The airline, the first major carrier to report financial results, said its jet

By Samantha Delouya, CNN (CNN) — The grassy plot of land across the street from Trinity East United Methodist Church sat empty most of the time.The land had been occasionally used for outdoor events, food pantries and other gatherings for decades. When the Rev. Marilyn White was appointed pastor more than 11 years ago, the

By Matt Egan, CNN New York (CNN) — The Strait of Hormuz is no longer paralyzed and yet fuel prices remain painfully high. It’s a vexing problem with profound financial, political and economic consequences.Gasoline prices, averaging $4.36 a gallon nationally, have never been this high at this time of year, according to AAA data.Even after