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By Michelle Watson, CNN Two 10-year-old children were found working at a Louisville McDonald’s restaurant — sometimes until 2 a.m. — the US Department of Labor said Tuesday. The revelation was part of an investigation into the child labor law violations in the Southeast. The agency also found three franchisees that own more than 60

By Alicia Wallace, CNN There’s good news on the inflation front: Annual price growth fell to its lowest pace in nearly two years, the Commerce Department reported Friday. But for consumers, the lengthy spell in the crossfire of persistently high prices and rising interest rates has taken its toll. Inflation-adjusted consumer spending was flat in

By Jordan Valinsky, CNN Anheuser-Busch will report earnings Thursday, marking the first time it will face Wall Street analysts’ questions since its Bud Light brand erupted in controversy. Sales of Bud Light have tumbled over the past month after the company delivered a custom can to Dylan Mulvaney, a transgender woman with a large Instagram

By Jordan Valinsky, CNN Nordstrom is closing both of its stores in downtown San Francisco, citing the changing “dynamics” of the area that hasn’t recovered since the pandemic and has been in the spotlight for crime. The two locations are a 312,000-square-foot, five-floor Nordstrom department store at the Westfield mall and a Rack, its discount

From CNN’s Krystal Hur, Bryan Mena, Alicia Wallace, Jeanne Sahadi, Matt Egan and Allison Morrow The-CNN-Wire™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.

By Vedika Sud, Rhea Mogul and Sania Farooqui CNN The women wake just after dawn at the makeshift protest site, their belongings stacked under mosquito nets as a row of mattresses line the pavement in New Delhi. By 8 a.m., they begin training — some run up and down the road, while others perform drills

By Chris Isidore, CNN American Airlines pilots voted to go on strike Monday. Southwest pilots are holding a strike vote as well. But none of those union members will be allowed to go on strike anytime soon — if at all — under the labor law that applies to airline workers. That law is the

By Jordan Valinsky, CNN Business Tuesday Morning is going out of business and closing all of its stores. It is the second major US home goods retailer to go bust in recent days. The retailer announced on Facebook and its website that it has started a going-out-of-business sale with 30% off discounts on its products

By Julia Horowitz, CNN Europe’s banks are pulling back access to credit, and a key measure of inflation in the region has cooled, bolstering the case for the European Central Bank to ease off its aggressive campaign of interest rate hikes when it meets later this week. Inflation among the 20 countries that use the

By Michelle Toh, CNN HSBC announced it had tripled its quarterly profit Tuesday, blowing past expectations as it benefited from high interest rates around the world. Europe’s biggest bank recorded a whopping $12.9 billion in pre-tax profit for the quarter ended March. That was up 207% from a year earlier, and significantly higher than the

By Michelle Toh, CNN Jack Ma has a new job: visiting professor in Japan. The Chinese billionaire has joined Tokyo College, under the University of Tokyo, according to a Monday statement on its website. In his role, Ma will work with researchers, serve as an adviser to the college and participate in seminars. He will

By Chris Isidore and Juliana Liu, CNN More than 11,000 members of the Writers Guild of America (WGA) are set to go on strike Tuesday morning for the first time since 2007, a move that could bring an immediate halt to the production of many television shows and possibly delay the start of new seasons

By Ivana Kottasová, CNN The first time Angela Davis went to a food bank was mortifying. The single mother of five — with three kids still living at home — had realized that after paying her bills, she simply had no money left to buy food. “It felt degrading. I was a bit down about

By Ramishah Maruf, CNN Who wants a big bowl of “chocolatey crispy deliciousness” for breakfast? General Mills is betting a lot of people do, as it is launching Kit Kat Cereal nationwide beginning this month at $5.69 for a standard-size box. The cereal, whose squares resemble the classic wafer-covered chocolate bar from Hershey’s, launched in

By Elisabeth Buchwald, CNN The Federal Deposit Insurance Corporation is advocating for an increase in the deposit insurance limit for business payment accounts following the three recent bank failures. Currently, the FDIC insures up to $250,000 per depositor for each account ownership category. But the agency backed deposits exceeding that limit when Silicon Valley Bank

By Nicki Brown, CNN Musician Ed Sheeran appeared visibly frustrated on the stand Monday as he continued his testimony in the second week of his copyright infringement case about whether his smash single “Thinking Out Loud” copied the classic Marvin Gaye song “Let’s Get It On.” Sheeran said he found the allegations in the case

By Matt Egan, Chris Isidore and Alicia Wallace, CNN The collapse of First Republic Bank is unlikely to worsen the US economic outlook, JPMorgan CEO Jamie Dimon said Monday. “It hasn’t changed anything about the odds of a recession,” Dimon said in response to a question from CNN during a press call held after JPMorgan

By Nicole Goodkind, CNN The founder and CEO of Chobani, a company that quickly captured more than 20% of the US yogurt market, has a clear mission: He wants to prove that capitalism and humanitarianism feed off of each other. Hamdi Ulukaya, a Turkish-born entrepreneur, says his company is proof that those principles work. He

By Chris Isidore, CNN The clock is ticking toward a costly strike that could shut down production on most television shows, pushing back the return of many programs now set for the fall. Last month, members of the Writers Guild of America voted 98% in favor of going on strike if no new deal is

By Chris Isidore and Olesya Dmitracova, CNN JPMorgan Chase is buying most assets of First Republic Bank after the nation’s second-largest bank failure ever, in a deal announced early Monday that protects the deposits of First Republic’s customers. JPMorgan Chase said it had acquired “the substantial majority of assets” and assumed the deposits, insured and

By Chris Lau and Mengchen Zhang, CNN From the Great Wall to Shanghai’s waterfront Bund, China’s most famous destinations are being mobbed during the Labor Day holiday by throngs of domestic tourists who are traveling again in huge numbers after the country ended three years of strict pandemic controls. More than 240 million holidaymakers are

By Michelle Toh, CNN The United States Chamber of Commerce has warned that rising scrutiny of American firms in China “dramatically increases” the uncertainties and risks of doing business in the country. The influential business lobby said Friday it was closely monitoring “heightened official scrutiny” of US firms by the Chinese authorities, following the questioning

By Danielle Wiener-Bronner, CNN For years, Bud Light leaned on jokey ad campaigns and its designation as a light beer to push sales. But recently, interest in beer has faltered, and beer brands have had to rethink their offerings and marketing strategies to reach new audiences. Now, Bud Light finds itself seeking younger drinkers, and

By Laura He, CNN As the jobless rate among China’s youth soars, the country’s richest province has offered a highly controversial solution: Send 300,000 unemployed young people to the countryside for two to three years to find work. Guangdong, the manufacturing powerhouse that abuts Hong Kong, said last month it will help college graduates and

By Julia Horowitz, CNN Huge disruptions will rock the global job market over the next five years as the economy weakens and companies boost adoption of technologies such as artificial intelligence. That finding comes from the World Economic Forum, which on Sunday published a report based on surveys of more than 800 companies. WEF —

By Krystal Hur, CNN After a jam-packed week of earnings, bank drama and mixed inflation data, Wall Street doesn’t have time for a breather just yet. A slate of economic events and data are on deck for next week. In the spotlight are the Federal Reserve’s May meeting and the April jobs report. What’s expected

By Ramishah Maruf, CNN Lyft’s new CEO David Risher announced another change for the ride-share company: Workers will soon have to return to the office. On Friday, Risher announced “the first steps in a plan for a flexible model with more regular in-office work,” a Lyft spokesperson said. “Personal connection matters and Lyft is about

By Chris Isidore and Matt Egan, CNN Federal regulators are holding an auction for ailing regional bank First Republic, a person familiar with the matter tells CNN. Final bids are due for First Republic Bank at 4 p.m. ET on Sunday, the source said. The Federal Deposit Insurance Corporation, the independent government agency that insures

By Nathaniel Meyersohn, CNN Jenny Craig is reportedly shutting down some of its weight-loss centers and warning employees of mass layoffs amid upheaval in the industry from popular new prescription drugs like Ozempic. Jenny Craig alerted employees to potential layoffs as it begins “winding down physical operations” and hunts for a buyer, according to NBC

By Krystal Hur, CNN First Republic Bank’s fate is looking grim. The bank’s stock has plummeted about 75% this week, after a disappointing first-quarter earnings report Monday revived Wall Street’s fears about a banking crisis and catalyzed an exodus out of First Republic stock. While a small rally on Thursday suggested that investors were hopeful

By Nicole Goodkind, CNN Environmental, social, and governance-focused funds, which were once deemed the darlings of Wall Street, may be on the way out. They’re currently weathering a “perfect storm of negative sentiment,” said Robert Jenkins, head of global research at Lipper, a financial data provider. Despite the gloomy forecast, Jenkins remains optimistic. He sees