By Chris Isidore, CNN New York (CNN) — Nearly 900,000 Americans sitting down to Thanksgiving dinner this week will have unions – and the double-digit pay increases they won – to thank. That’s how many unionized workers have won immediate pay hikes of 10% or more in just the last year, according to an analysis
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By Peter Valdes-Dapena, CNN (CNN) — Ford has restarted work on an electric vehicle battery plant in Michigan, but the plant will be smaller than was originally planned. Ford paused work at the site in late September during the United Auto Workers strike, saying at the time that the company needed to reevaluate the scope
Continue Reading By Brian Fung, CNN (CNN) — Some legal experts are panning Elon Musk’s lawsuit targeting the watchdog group Media Matters, saying the complaint filed Monday by X, the platform formerly known as Twitter, runs contrary to the First Amendment and could backfire wildly — if it progresses at all. The lawsuit filed Monday accuses Media
Continue Reading By Parija Kavilanz, CNN New York (CNN) — Black Friday, for plenty of people, will mark a day of relaxation after family and friends gather around a traditional turkey dinner the night before. For serious deal hunters, however, there will be no rest. The day after Thanksgiving historically has marked the start of the holiday
Continue Reading By Matt Egan, Evan Perez, Allison Morrow, Holmes Lybrand, Sean Lyngaas and Bryan Mena, CNN New York (CNN) — Billionaire Changpeng Zhao and leading cryptocurrency exchange Binance pleaded guilty on Tuesday to federal charges in a watershed moment designed to bring order to the often-lawless crypto industry. As part of a coordinated settlement across the
Continue Reading By Jeanne Sahadi, CNN New York (CNN) — For the second year in a row, the IRS has decided to postpone implementation of a rule change that would affect tax filers who receive business income for their goods and services via payment apps and online marketplaces like Venmo, CashApp, Etsy and Airbnb, among others. The
Continue Reading By Danielle Wiener-Bronner, CNN New York (CNN) — As you make your way down the grocery aisle, maybe picking up supplies for apple pie, you might notice something interesting. The price of flour, sugar and butter? Up. But the price of apples? Way down. From September to October, adjusting for seasonal swings, flour prices rose
Continue Reading By Eva Rothenberg, CNN New York (CNN) — While retail giants like Amazon and Walmart hope for big profits from Black Friday, the less-heralded Small Business Saturday is looking to continue its winning streak for the nearly 32 million small businesses riding a wave of enthusiastic consumer spending and robust government investment. According to a
Continue Reading CNN By Brian Fung, CNN (CNN) — Nearly a week into a leadership crisis that’s thrown the artificial intelligence industry into chaos, OpenAI’s future along with that of its former CEO Sam Altman remain as uncertain as ever. If Altman’s abrupt ouster came as a surprise, it was nothing compared to the ensuing chaos and
Continue Reading By Brian Fung, CNN (CNN) — Nearly a week into a leadership crisis that’s thrown the artificial intelligence industry into chaos, OpenAI’s future along with that of its former CEO Sam Altman remain as uncertain as ever. If Altman’s abrupt ouster came as a surprise, it was nothing compared to the ensuing chaos and whiplash
Continue Reading By Jordan Valinsky, CNN New York (CNN) — Kim Kardashian’s private equity firm has announced its first investment: A company that makes truffle-infused sauces that sell for about $20 a bottle. SKKY Partners, the company she formed last year with a former executive at Carlyle Group, has acquired a “significant minority stake” in Truff sauces.
Continue Reading By Anna Bahney, CNN Washington, DC (CNN) — Home sales may have their worst year in 30 years. Sales slumped in October and prices continued to climb, as mortgage rates surged last month and inventory remained extraordinarily low. That kept homebuyers out of the market, according to a monthly report from the National Association of
Continue Reading By Nathaniel Meyersohn, CNN New York (CNN) — Shoppers will be splurging less this holiday than in past years, major retailers say. Best Buy, Lowe’s and Kohl’s all reported sales declines during their most recent quarter Tuesday and are forecasting holiday sales to drop from a year ago. “Consumer demand has been even more uneven
Continue Reading By Chris Isidore, CNN New York (CNN) — American Airlines’ flight attendants’ union wants permission from the government to go on strike in 30 days. But you don’t need to worry about a strike screwing up your holiday travel plans. Airline employees are covered by the Railway Labor Act. Despite its name, the RLA covers
Continue Reading By Alicia Wallace, CNN Arden Hills, Minnesota (CNN) — In 2023, the surge in responsible investing hit a wall. Environmental, social and governance (ESG) initiatives buckled under the pressure of economic and political forces, including efforts by congressional Republicans and conservative-led states to limit “woke” investments that prioritize “agendas and ideology.” But in America’s Heartland,
Continue Reading CNN By Alicia Wallace, CNN Arden Hills, Minnesota (CNN) — In 2023, the surge in responsible investing hit a wall. Environmental, social and governance (ESG) initiatives buckled under the pressure of economic and political forces, including efforts by congressional Republicans and conservative-led states to limit “woke” investments that prioritize “agendas and ideology.” But in America’s
Continue Reading By Matt Egan, CNN (CNN) — Brands are being “irresponsible” by continuing to advertise on Elon Musk’s X after the billionaire endorsed antisemitic views, according to Yale professor Jeffrey Sonnenfeld. “It’s self-destructive for any advertiser to be associated with him. It’s pathological,” Sonnenfeld, dean for leadership studies at the Yale School of Management, told CNN
Continue Reading By Michelle Toh, CNN Hong Kong (CNN) — Mastercard has won long-awaited approval to expand its offerings in China’s huge payments market, days after the country’s leader personally sought to improve business ties between Beijing and Washington. The US credit card giant announced Monday that it had received clearance from China’s central bank and the
Continue Reading By Michelle Toh, CNN Hong Kong (CNN) — Another business leader in China is being probed by the country’s anti-graft watchdog, in a sign of an ongoing crackdown in the world’s second largest economy. Zhou Jun, president of state-owned Shanghai Industrial Investment, is under investigation by the Shanghai Municipal Commission for Discipline Inspection, a branch
Continue Reading By Chris Isidore, CNN New York (CNN) — Kyle Vogt, the head of General Motors’ self-driving car unit Cruise, resigned from the company late Sunday. His departure came the day after he apologized to the unit’s employees for problems that led to action from state and federal regulators in the wake of a series of
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