Money

By Tami Luhby, CNN (CNN) — Former President Donald Trump plans to ban mortgages for undocumented immigrants, he said in a speech at the Economic Club of New York on Thursday. Trump claimed the measure would help address housing affordability because a “flood” of people entering the country illegally are pushing up housing costs, but

By Chris Isidore, CNN New York (CNN) — US Steel is threatening to shutter a number of mills if the Biden administration blocks its sale to would-be Japanese buyer Nippon Steel. But another rival, Cleveland Cliffs, is offering to buy those mills from US Steel if President Joe Biden stops the deal. This week US

By Jordan Valinsky, CNN New York (CNN) — Selena Gomez can now add becoming a billionaire to her long list of achievements. The 32-year-old actress, singer, investor and entrepreneur just achieved the financial milestone thus making her one of the youngest self-made billionaires in the United States, according to Bloomberg, which values her net worth

By Jordan Valinsky, CNN New York (CNN) — The highly anticipated all-American matchup between Taylor Fritz and Frances Tiafoe — marking the first US Open semifinals between two US men in nearly 20 years — will cost you quite a few Honey Deuces to attend. Prices have surged 60% since Tuesday, when the pairing was

By Lianne Kolirin, CNN London (CNN) — PricewaterhouseCoopers (PwC) will start tracking where its employees in the United Kingdom work, in a bid to dial back its current work-from-home culture. Staff at the UK arm of PwC, one of the world’s “Big Four” accounting firms, were this week informed by management that the new policy

By Matt Egan, CNN New York (CNN) — The oil market is in another tailspin. Producer group OPEC+ is scrambling to stop the bleeding. And gas prices are falling fast, with more to come. All of this is music to the ears of drivers. US gas prices fell to a fresh six-month low of $3.31

By Alicia Wallace, CNN (CNN) — All eyes were on the US labor market, and the latest check-up shows its diagnosis was not as bleak as some feared: Job growth returned to solid form in August, and unemployment trended back down after a concerning jump. Employers added an estimated 142,000 jobs last month, marking stronger

By Juliana Liu, CNN Hong Kong (CNN) — The operator of 7-Eleven has rejected an opening offer from the owner of convenience store rival Circle K, indicating the bid was too low and that its global business was worth more. In a statement Friday, Tokyo-based Seven & I Holdings, which owns 7-Eleven, said it was

By Ramishah Maruf, CNN New York (CNN) — Telegram CEO Pavel Durov returned to the messaging platform Thursday, saying in a lengthy post that he was surprised to have been arrested and interviewed by French authorities less than two weeks ago in an investigation that has sparked debate about free speech and criminal activity online.

By Brian Stelter, CNN New York (CNN) — The Biden administration is denouncing Tucker Carlson after the far-right personality hosted a guest on his show this week who suggested the Holocaust happened by accident, calling the interview “a disgusting and sadistic insult to all Americans.” During Carlson’s two-hour sit-down with Darryl Cooper, a podcaster whom

By Liam Reilly and Brian Stelter, CNN New York (CNN) — A.G. Sulzberger, the New York Times publisher, sounded the alarm Thursday on the “quiet war” against press freedoms unleashed by authoritarians around the world and said Americans should understand the anti-media “playbook” that Donald Trump might employ in a second term. In an op-ed

By Krystal Hur, CNN New York (CNN) — The Organization of the Petroleum Exporting Countries and its allies — the coalition of the world’s top oil producers known as OPEC+ — said Thursday that it is extending oil production cuts once again as crude and fuel prices continue to slump. The countries making up the

By Hanna Ziady, CNN London (CNN) — Britain’s competition watchdog is investigating Ticketmaster over concerns the company treated customers unfairly when selling tickets to the upcoming Oasis reunion tour. The probe presents a fresh headache for Ticketmaster’s parent company Live Nation, which also faces an antitrust lawsuit in the United States that could force a

By Krystal Hur, CNN New York (CNN) — Wall Street is eyeing what could be the most consequential economic data report in months due out Friday. Inflation has cooled significantly since the Federal Reserve began aggressively hiking interest rates more than two years ago to tame it. That’s led the central bank to shift its

By Alicia Wallace, CNN (CNN) — The US economy appears to be on a knife’s edge, and Friday’s jobs report will be the deciding factor as to the next direction. The August jobs report is expected to provide some much-needed clarity as to whether the labor market is slowing gracefully or spiraling quickly as was

By Hanna Ziady, CNN London (CNN) — A record number of firms plan to cut advertising spending on X next year because of concerns that extreme content on the platform could damage their brands, dealing another blow to the financial fortunes of Elon Musk’s social media company. A global survey by market research firm Kantar

By Olesya Dmitracova, CNN London (CNN) — Luxury brand Burberry is dropping out of Britain’s main stock index after suffering a steep fall in value following a plunge in sales and profits. The 168-year-old brand will leave the FTSE 100, which brings together the 100 most valuable companies listed on the London Stock Exchange, as a result

By Matt Egan, CNN New York (CNN) — Former President Donald Trump wants to spend trillions of dollars on tax cuts. His plan to pay for that is alarming some mainstream economists. Trump proposed sweeping tariffs on all $3 trillion worth of imports into the United States, including a 60% tariff on imports from China and

By Hadas Gold, CNN New York (CNN) — A coalition of media organizations, including CNN, has petitioned a Nevada court to open up the secret proceedings surrounding a legal battle over the future of billionaire Rupert Murdoch’s media empire. The New York Times, Associated Press, National Public Radio, The Washington Post, Reuters and CNN filed a motion Wednesday in the Second Judicial District Court in Nevada

By Ramishah Maruf, CNN New York (CNN) — Chipotle is already getting into the Halloween spirit. The fast-casual chain announced a costume collection with Spirit Halloween Wednesday, the seasonal Halloween costume store that pops up every year in abandoned storefronts. The collection is made up of bodysuits that are meant to resemble a Chipotle napkin,

By Chris Isidore, CNN New York (CNN) — Most of the 10,000 hotel workers who went on strike during the busy Labor Day weekend have returned to work Wednesday, but one group of 700 union members in San Diego will stay on strike for the foreseeable future. Those workers, employed at the Hilton San Diego

By Ramishah Maruf, CNN New York (CNN) — Meta’s Oversight Board has found that the phrase “From the River to the Sea,” used to express Palestinian support, did not break the company’s hate speech policies. Critics of the phrase, which refers to the land between the Jordan River and the Mediterranean Sea, say that it

By Nathaniel Meyersohn, CNN New York (CNN) — After years of prolific growth, US dollar stores have hit a downturn. Dollar Tree (DLTR) shares plunged 20% Wednesday after the company cut its outlook for the rest of the year, citing “immense pressures” on its low- and middle-income customer base. Dollar Tree also owns the long-struggling

By Jordan Valinsky, CNN New York (CNN) — Shein and Temu, two Chinese low-cost e-commerce websites, are the target of a proposed investigation by the United States government for selling “deadly baby and toddler products.” Two leaders from the Consumer Products Safety Commission said in an open letter Wednesday that they want commission staff to

By Alicia Wallace, CNN (CNN) — The number of available jobs in the US shrank more than expected in July, an indication that demand for workers continues to wane amid a cooling labor market. Job openings fell in July for the second consecutive month to an estimated 7.67 million, from 7.91 million in June, according

By Jordan Valinsky, CNN New York (CNN) — LL Flooring, formerly known as Lumber Liquidators, is going out of business after the bankrupt company failed to find a buyer to rescue the 30-year-old retailer. As a result, LL Flooring will liquidate. Sales at its remaining 200 stores will begin on September 6, setting in motion an

By Jordan Valinsky, CNN New York (CNN) — Nearly a year after McDonald’s ditched the hollow plastic spoon, more changes are coming for the McFlurry. Beginning September 10, the chain is eliminating the plastic, dome-shaped lid and serving the ice cream treat in a new cardboard cup that has four flaps to cover the top.

By Chris Isidore, Kayla Tausche and Arlette Saenz, CNN Washington DC (CNN) — President Joe Biden is prepared to block Japan’s Nippon Steel’s proposed acquisition of US Steel, two sources familiar with the matter said, a move that would deal a major blow to the $14 billion merger that has become a lightning rod in an election year

By Juliana Liu, CNN (CNN) — Brazilian President Luiz Inácio Lula da Silva says the world isn’t obliged to put up with billionaire Elon Musk’s “far-right anything goes” agenda because of his immense wealth. Lula da Silva made the remarks in an interview with CNN affiliate CNN Brasil published Monday, days after Musk’s social media site X was

By Ramishah Maruf, CNN New York (CNN) — The US Securities and Exchange Commission fined six major credit rating organizations a total of $49 million for their “significant failures” to keep electronic communications. Moody’s Investor Services and S&P Global Ratings agreed to pay the heftiest fines, a $20 million civil penalty each. Fitch Ratings agreed

By Lucy Bayly, CNN New York (CNN) — Wall Street kicked off the month of September with a bust, after a disappointing economic report dragged down the Dow by 626 points, or 1.5%, Tuesday afternoon. The latest manufacturing report from the Institute for Supply Management showed a fifth-straight month of declines, fueling concern that aggressive

By Jordan Valinsky, CNN New York (CNN) — Costco customers are now paying more for their annual memberships for the first time since 2017. The retailer announced in July that membership fees would increase by $5 to $65 a year in the US and Canada for three of its plans: “Gold Star,” “Business” and “Business

By Elisabeth Buchwald, CNN New York (CNN) — Going to college in the United States has long been considered the ticket to a higher-paying job. But the growing share of high school graduates who are enrolling in vocational schools instead of four-year programs may not be missing out on as much earnings potential as you

By Jordan Valinsky, CNN New York (CNN) — A number of viral TikTok videos had some people believing they could get “free” cash from Chase ATMs. But it was just a glitch – and those customers were actually committing fraud, according to the bank. Over the weekend, videos appeared on the app showing people depositing

By Jordan Valinsky, CNN New York (CNN) — For DirecTV subscribers frustrated by the loss of ESPN and other Disney-owned channels, the TV provider is offering some compensation as the blackout stretches into its third day. The company is offering credits of at least $20 to customers who have DirecTV, DirecTV Stream and U-Verse services

By Alicia Wallace, CNN (CNN) — Global supply chains, now a couple years recovered from pandemic-era snarls, have been chugging along at a much healthier clip. But by no means has it been smooth sailing. Traffic through two critical international shipping arteries has been bogged down dramatically: The Suez Canal, due to Houthi militants’ monthslong

By Clare Duffy, CNN New York (CNN) — If a strange photo has recently stopped you in your tracks while scrolling your Facebook feed, you’re not alone. Users who once came to Facebook to connect with friends and family are increasingly complaining of random, spammy, junk content — much of it apparently generated by artificial

By Jordan Valinsky, CNN New York (CNN) — At the US Open currently underway in New York, a single cocktail will surpass $10 million in sales before the tennis grand slam event ends September 8. The drink’s sales alone could cover the combined championship prize money for both the male and female singles winner —

By Chris Lau and Juliana Liu, CNN Hong Kong (CNN) — Hong Kong’s flag carrier Cathay Pacific has canceled dozens of flights as it conducts an inspection of its entire Airbus A350 fleet after finding engine problems affecting the plane. The airline, one of the world’s largest users of the long-haul jet, said it identified

By Hanna Ziady, CNN London (CNN) — Volkswagen is weighing whether to close factories in Germany for the first time in its 87-year history as it moves to deepen cost cuts amid rising competition from China’s electric vehicle makers. In a statement Monday, the German automaker, one of the world’s biggest car companies, said that

By Gloria Pazmino and Chris Isidore, CNN (CNN) — Baltimore hotel workers are joining a massive nationwide strike against three major hotel chains during one of the biggest travel holidays of the year. Unite Here, the union representing hotel workers, said approximately 200 hotel workers walked off the job in Baltimore at the Hilton Inner

By Jeanne Sahadi, CNN New York (CNN) — A Texas judge late last month struck down a nationwide ban on noncompete agreements that was supposed to take effect this Wednesday. Existing noncompete agreements will therefore now remain in place. And employers may still ask you to sign one as a condition of employment. That is,

By Liam Reilly, CNN New York (CNN) — Disney on Sunday pulled its ABC stations, ESPN and other cable networks from DirecTV’s lineup as the two companies failed to reach a new distribution deal, leaving millions of sports fans in the dark as the college football and NFL seasons get underway. The expiration of an

Chris Isidore New York (CNN) — More than 10,000 hotel workers at 24 hotels stretching from Boston to the West Coast to Hawaii went on strike early Sunday morning, disrupting travel during a busy Labor Day weekend. The hotels are reportedly still open but guests will deal with a skeleton staff unable to provide full

By Chris Isidore, CNN New York (CNN) — Boeing has experienced all manner of bad news in the last six years, and almost nothing but problems. Later this month it could add a strike by 32,000 workers to its list of woes. The contract between Boeing and the International Association of Machinists is due to

By Ramishah Maruf, CNN New York (CNN) — Labor Day is on Monday, September 2. The holiday marks the unofficial end of summer 2024. As students begin to head back to school, many Americans enjoy one last long weekend to host a summer barbecue or make a beach trip. The first Monday in September commemorates the

By Samra Zulfaqar, Nodoka Katsura and Rinka Tonsho, CNN Tokyo (CNN) — Yuki Watanabe used to spend 12 hours every day toiling away in the office. And that’s considered a short day. A typical 9-to-9 workday is the bare minimum. “The latest I would leave [the office] would be 11 p.m.,” said the 24-year-old, who

By Robert Ilich, CNN (CNN) — When British rock band Oasis announced a reunion tour this week there was a predictable frenzy for tickets to the 17 dates. Perhaps also predictably, there have been complaints and frustration with the ticket-buying process due to heavy demand. Tickets went on general sale on Saturday at 9 a.m.

By Nathaniel Meyersohn, CNN New York (CNN) — In the 1984 rom-com “The Lonely Guy,” a crowded restaurant goes silent when Steve Martin tells the host he wants a table for dinner alone. A spotlight shines on him as he walks awkwardly to his seat. Too embarrassed to acknowledge he’s having dinner out by himself,

By Liam Reilly, CNN New York (CNN) — Podcasting superstars are taking their fame to new heights as media companies offer nine-figure deals for the rights to their shows. NFL brothers Travis and Jason Kelce’s $100 million deal this week with Amazon’s podcasting studio, Wondery, marked the latest high-priced deal in 2024, highlighting a major shift in the

By Ramishah Maruf, CNN New York (CNN) — Nothing says fall like a pumpkin spice latte. And over the past decade, that sentiment now includes baking pumpkin spice muffins, pouring pumpkin spice booze, lighting a pumpkin spice candle, throwing a pumpkin spice dog treat and, yes, even taking out pumpkin spice trash bags and using

By Jordan Valinsky, CNN New York (CNN) — Tickets for Oasis, the biggest rock band to come out of Britain in the last 30 years, go on pre-sale Friday afternoon in the UK and Ireland, ahead of a general sale Saturday that will likely be met with heavy demand. The Oasis Live ’25 Tour begins

By Alicia Wallace, CNN (CNN) — The Federal Reserve’s go-to inflation gauge held at 2.5% in July, Commerce Department data showed Friday. That’s better than anticipated and shows progress — but still underscores the bumpy process for inflation’s descent. Friday’s report also reaffirmed that the backbone of the US economy — the consumer — is

By Matt Egan, CNN New York (CNN) — Labor Day weekend travelers can look forward to lower prices at the gas pump. GasBuddy is projecting the national average price of gas on Labor Day will be $3.27 a gallon – the cheapest for the holiday since 2021. That amounts to a decline of 50 cents,

By Hadas Gold, Kristen Holmes and Priscilla Alvarez, CNN New York (CNN) — ABC News intends to mute the microphones of Donald Trump and Kamala Harris while their opponent speaks during an upcoming presidential debate, according to a copy of the formal rules obtained by CNN, but the Harris campaign is continuing to push back

By Nathaniel Meyersohn, CNN New York (CNN) — Ford is changing some of its diversity and inclusion policies, joining a growing list of companies altering their approaches amid a changing legal and political environment and online pressure from the right. Ford CEO Jim Farley said in an email to employees Wednesday that the company has

By Duarte Mendonca, CNN (CNN) — Elon Musk has stepped up online attacks on a Supreme Court judge threatening to suspend social media platform X in Brazil, calling him “an evil dictator” in an ongoing feud between the two men. Justice Alexandre de Moraes had threatened to suspend X if Musk did not appoint a

By Clare Duffy, CNN New York (CNN) — The arrest of Telegram CEO Pavel Durov in France over the weekend has thrust the popular messaging service and its enigmatic founderinto the spotlight. Russian-born Durov was detained Saturday at Paris’s Bourget Airport on a warrant related to Telegram’s lack of moderation. Those charges include allegations that

By Jordan Valinsky, CNN New York (CNN) — Low-income consumers feeling a pinch in the economy are leading to lower-than-expected sales for Dollar General, as the budget-friendly retailer slashed its sales and profit outlook for the year. Its shares sank nearly 30% in afternoon trading following the release of its earnings Thursday, in which the

CNN By Matt Egan, CNN New York (CNN) — For months, former President Donald Trump has been sitting on a social media fortune that he couldn’t touch. That will change very soon. The lock-up period prohibiting Trump from selling or even borrowing against his $2.3 billion stake in Truth Social owner Trump Media & Technology

By Milly Chan, CNN Tashkent, Uzbekistan (CNN) — The most populous country in Central Asia is heavily dependent on burning fossil fuel for electricity. But over the next few years, Uzbekistan plans to slash its carbon footprint. That’s no easy feat for one of the world’s most carbon emission-intensive economies, according to the World Bank.

By Matt Egan, CNN New York (CNN) — For months, former President Donald Trump has been sitting on a social media fortune that he couldn’t touch. That will change very soon. The lock-up period prohibiting Trump from selling or even borrowing against his $2.3 billion stake in Truth Social owner Trump Media & Technology Group

By Chris Lau, CNN Hong Kong (CNN) — A Hong Kong court found two former news editors guilty on Thursday of publishing seditious content on a shuttered pro-democracy media site, a ruling rights groups said was a further blow to press freedoms in the city as Beijing tightens its grip. Chung Pui-kuen, former editor-in-chief of

By Ramishah Maruf, CNN New York (CNN) — Yelp filed an antitrust lawsuit against Google on Wednesday, alleging Google used its monopoly to dominate local search and advertising markets. A federal judge’s ruling that Google violated US antitrust law with its search business earlier in August paved the way for the lawsuit by Yelp, another

By Hadas Gold, CNN New York (CNN) — Two years after Sarah Palin lost her defamation lawsuit against the New York Times, the former vice presidential candidate has been granted a new trial, a federal appeals court ruled Wednesday. In 2022, a New York jury found Palin had not proved the Times and its editorial

By Krystal Hur and Clare Duffy, CNN New York (CNN) — Nvidia once again beat Wall Street’s expectations when it reported earnings on Wednesday. But for a company that’s been on a stunning growth streak over the past two years, merely great numbers may no longer be enough to impress investors. The AI chipmaker —

By Jordan Valinsky, CNN New York (CNN) — On Tuesday, AT&T wireless service went down for some customers, affecting their ability to contact 911 in the event of an emergency. It was fixed in a few hours, with the company blaming a software issue, but it’s just one of many problems the telecommunications company has

By Elisabeth Buchwald, CNN New York (CNN) — There’s a new member of the $1 trillion company club in the US — and for the first time, it isn’t a technology company. On Wednesday, shares of Berkshire Hathaway (BRK.A) (BRK.B) closed high enough to give the conglomerate holding company a market value above $1 trillion.

By Chris Liakos and Rob Picheta, CNN Paris (CNN) — Telegram founder Pavel Durov is under formal investigation and will not be allowed to leave France, a French prosecutor said in a statement released Wednesday night. The Russian-born billionaire is being investigated for several suspected offenses related to criminal activity on the platform, including complicity

By Chris Isidore and Brian Fung, CNN New York (CNN) — Cybersecurity firm CrowdStrike said that in the wake of a massive computer outage it caused last month it will give customers about $60 million in credits to remain with the company, possibly a mere fraction of the damages those clients say they incurred. The

By Nathaniel Meyersohn, CNN New York (CNN) — Robby Starbuck, a former Hollywood music video director turned conservative activist, has caught fire campaigning online against some major American brands’ diversity, equity and inclusion programs (DEI), support for gay Pride marches and LGBTQ events, strategies to slow climate change and other social policies. Starbuck is both

By Jeanne Sahadi, CNN New York (CNN) — On balance, 401(k) participants have had a good run over the past year. Especially those who have amassed a balance of at least $1 million. The number of so-called 401(k) ‘millionaires’ rose to a new record high in the second quarter, according to a new data analysis

By Michelle Watson and Dalia Faheid, CNN (CNN) — AT&T wireless service was down for some customers for parts of Tuesday because of a software issue that has since been fixed, according to the company, which has experienced several outages this year. “We’ve resolved a software issue that disrupted the ability of a limited number

By Jeanne Sahadi, CNN (CNN) — Many US retailers offer the option to get cash back when you make a purchase with a bank debit card or prepaid card. But some charge a fee for that convenience. It certainly can save you time because you don’t need to make a stop at an ATM. And

By Ramishah Maruf and Elizabeth Wagmeister, CNN New York (CNN) — Yet another podcast has inked a deal upwards of $100 million. Brothers and NFL stars Jason and Travis Kelce signed a deal with Amazon’s podcast studio Wondery for their “New Heights with Jason & Travis Kelce” podcast. The agreement brings exclusive ad-sales and distribution

By Anna Chernova, Nathan Hodge and Joshua Berlinger, CNN Paris (CNN) — The Kremlin is trying to calm fears that the arrest of Telegram founder Pavel Durov in France could upend the messaging platform, which is extremely popular in Russia and plays a key role in coordinating the war effort in Ukraine. Russian government spokesman

By Bryan Mena, CNN Washington (CNN) — With the Federal Reserve all but confirmed to cut interest rates next month, there is finally some light at the end of the tunnel for Americans grappling with the most unaffordable housing market in decades. But the old saying that “real estate is local” still rings painfully true.

By Joshua Berlinger and Anna Chernova, CNN Paris (CNN) — Pavel Durov is a lot of things to a lot of people. Programming prodigy. Billionaire entrepreneur. Kremlin stooge. Free-speech fighter. Biological father to at least 100 kids. Durov, the elusive founder of Telegram who was detained in France over the weekend, cuts the figure of

By Colin McCullogh, CNN (CNN) — Mark Zuckerberg, chairman and CEO of the social media company Meta, said in a letter to the House Judiciary committee on Monday that his teams were “pressured” by the Biden White House to censor some content around the Covid-19 pandemic. “In 2021, senior officials from the Biden Administration, including the

By Jordan Valinsky, CNN New York (CNN) — Stop & Shop locations will stop selling cigarettes and tobacco products this month, joining other major chains that have also ceased sales of the unhealthy products. The supermarket chain, which has about 360 stores primarily in the US northeast, said the changes are part of its “commitment

By Ramishah Maruf, CNN New York (CNN) — Martin Shkreli, the infamous “pharma bro” once convicted of securities fraud, must turn over to his attorneys all copies of what was supposed to be a multi-million-dollar, one-of-a-kind Wu-Tang Clan album and is barred from selling or distributing the album, a federal judge ruled. Judge Pamela Chen

By Krystal Hur, CNN New York (CNN) — US stocks closed Monday mixed as investors looked to a key earnings report and a slew of economic data points due later this week. The Dow closed 65 points, or 0.2%, higher on Monday to a new record high of 41,241. The S&P 500 fell 0.3% and

CNN By Clare Duffy, CNN New York (CNN) — The arrest of Telegram CEO Pavel Durov in France over the weekend has thrust the popular messaging service and its enigmatic founder into the spotlight. Russian-born Durov was detained Saturday at Paris’s Bourget Airport on a warrant related to Telegram’s lack of moderation. Those charges include

By Jordan Valinsky, CNN New York (CNN) — Roughly two dozen more Red Lobster locations are scheduled to close within the coming days as part of the seafood restaurant chain’s ongoing bankruptcy proceedings. A recent court filing shows that the company is rejecting the leases of an additional 23 locations by Saturday, August 31, joining

By Samantha Delouya, CNN (CNN) — Homebuying in the United States has recently slowed to a crawl, but falling mortgage rates could soon jolt it back to life. For potential homebuyers who may have been itching to come off the sidelines, the recent drop in mortgage rates may be a double-edged sword. Lower rates could

By Elisabeth Buchwald and Bryan Mena, CNN (CNN) — It’s been another rollercoaster of a year so far for the US housing market. Elevated mortgage rates and home prices have pushed prospective homebuyers to the sidelines. In addition, homeowners have been reluctant to put their properties on the market and risk potentially forfeiting the ultra-low

By Alicia Wallace and Matt Egan, CNN (CNN) — Last year, consumers shelled out big bucks for their back-to-school shopping needs, spending a record $41.5 billion, according to estimates from the National Retail Federation. That whopping tally, which amounted to more than $890 per household, bested 2021’s all-time high by roughly 12%. While higher prices

By Nathaniel Meyersohn, CNN New York (CNN) — It’s never been harder to be Mister Softee. Once, there were more than 2,000 Mister Softee trucks in 38 states during the company’s peak in the 1960s. Now, there are only around 630 Mister Softee trucks looping around neighborhoods and parks in 21 states. Competition and rising

By Jordan Valinsky, CNN New York (CNN) — In the waning weeks of summer, the hottest spot for celebrities to be seen in New York isn’t the beaches of Montauk or the polo fields in Bridgehampton. Rather, it’s slightly uncomfortable, blue plastic chairs in Queens — but surrounded by luxury. Monday kicks off the US

By Hadas Gold, CNN New York (CNN) — A new presidential candidate, a slew of celebrities and slick programming helped propel Democrats and Vice President Kamala Harris to a ratings win at this week’s Democratic National Convention, surpassing the television viewership of last month’s Republican gathering. Viewership of the four-day festivities in Chicago drew an

CNN By Krystal Hur, CNN New York (CNN) — Stocks rose Friday as Wall Street cheered a signal from Federal Reserve Chair Jerome Powell that long-awaited interest rate cuts are finally coming. The Dow closed 462 points, or 1.1% higher, on Friday afternoon. The S&P 500 gained 1.2% and the Nasdaq Composite added 1.5%. All

By Bryan Mena, CNN Washington (CNN) — America’s top central banker has unambiguously signaled that lower interest rates are finally on the horizon, marking a crucial milestone for the Federal Reserve’s historic — and, so far, successful — inflation fight. “The time has come for policy to adjust,” Fed Chair Jerome Powell said in prepared

By Jordan Valinsky, CNN New York (CNN) — New Starbucks CEO Brian Niccol won’t be a constant presence at its Seattle headquarters where he takes the helm next month. Instead, he’s going to commute weekly from his California home. The setup was revealed last week in Niccol’s offer letter, which is giving him a “small

By Krystal Hur, CNN New York (CNN) — Stocks rose Friday as Wall Street cheered a signal from Federal Reserve Chair Jerome Powell that long-awaited interest rate cuts are finally coming. The Dow closed 462 points, or 1.1% higher, on Friday afternoon. The S&P 500 gained 1.2% and the Nasdaq Composite added 1.5%. All three

By Holmes Lybrand and Evan Perez, CNN (CNN) — The Justice Department has filed a civil lawsuit against the real estate company RealPage, alleging the company’s software uses landlord data to artificially inflate the price of rent across the United States by quelling competition in the market. According to the complaint, the Texas-based company uses

By Bryan Mena, CNN Washington (CNN) — After a grueling two years of high inflation and elevated interest rates, Americans are finally set for some relief: Federal Reserve Chair Jerome Powell on Friday offered his strongest affirmation yet that a rate cut is coming next month. But the size of that relief remains an open

By Matt Egan, CNN (CNN) — Halliburton confirmed on Friday that it was hit by a cyberattack that forced the major oilfield services company to take systems offline. In a filing, Halliburton said it became aware on Wednesday that an “unauthorized third party gained access to certain of its systems.” Halliburton said it immediately “activated its

By Jordan Valinsky, CNN New York (CNN) — It’s not $5, but Subway is bringing back cheap footlongs and joining the fast food value menu wars. Beginning August 26, Subway will sell any footlong sandwich for $6.99 — a steep discount considering that some footlongs can cost as much as $14 in some cities. It’s

By Devan Cole and Marshall Cohen, CNN Wilmington, Delaware (CNN) — Newsmax CEO Chris Ruddy knew the right-wing cable outlet had no evidence to back up its claims that Smartmatic was involved in rigging the 2020 election even as it continued to push the lies on its air, an attorney for the voting technology company alleged on Thursday.