Money

By Jeanne Sahadi, CNN New York (CNN) — The Federal Reserve on Wednesday chose not to raise its key interest rate, the same decision it took following its September meeting, leaving its benchmark lending rate at its highest level in 22 years. Given that the Fed influences — directly or indirectly — interest rates on

By Vanessa Yurkevich, CNN (CNN) — Stellantis is immediately laying off 68 employees at the Toledo Machining Plant in Perrysburg, Ohio, due to the impact from the United Auto Workers union’s targeted strike at the Toledo Assembly Complex, the company said Wednesday. The layoffs will be temporary and are due to storage constraints, Stellantis said

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage applications rose last week, even as mortgage rates remain stubbornly high, an indication that at least some buyers are determined to move forward with a home purchase in one of the most challenging markets in decades. For the week ending September 15, the total number of

By Jennifer Korn, CNN New York (CNN) — Elon Musk’s controversial biotechnology startup Neuralink opened up recruitment for its first human clinical trial Tuesday, according to a company blog. After receiving approval from an independent review board, Neuralink is set to begin offering brain implants to paralysis patients as part of the PRIME Study, the

CNN By Samantha Murphy Kelly, CNN (CNN) — You’re about to see people in public tapping two fingers together in the air. Over the past few days, I’ve been taking phone calls, playing music and scrolling through widgets on the new Apple Watch Series 9 without ever touching the device. I’ve used it to silence

By Brian Fung, CNN Washington (CNN) — A spokesman for former President Donald Trump said Wednesday that Donald Trump Jr.’s account on X – the platform formerly known as Twitter – had been compromised after the account began sharing a series of unusual and erratic posts. “Don’s account has been hacked,” Andrew Surabian posted on

By Elisabeth Buchwald, CNN New York (CNN) — At any given moment, if you want to know what the Federal Reserve is most likely to do at any of its meetings through the end of 2024, you can head to the Chicago Mercantile Exchange Group’s FedWatch Tool page. There, you will find a bar chart

By Hanna Ziady, CNN London (CNN) — The UK government said Wednesday it would delay a ban on the sale of new gas and diesel cars by five years, angering carmakers who warned the move would undermine the industry’s efforts to switch to electric vehicles. The delay was announced by Prime Minister Rishi Sunak as

By Michelle Toh, CNN Hong Kong (CNN) — Commerce Secretary Gina Raimondo says the US government has no evidence that Huawei can produce smartphones with advanced chips “at scale,” as it continues to investigate how the sanctioned Chinese manufacturer made an apparent breakthrough with its latest flagship device. On Tuesday, Raimondo told US lawmakers that

By Samantha Murphy Kelly, CNN (CNN) — You’re about to see people in public tapping two fingers together in the air. Over the past few days, I’ve been taking phone calls, playing music and scrolling through widgets on the new Apple Watch Series 9 without ever touching the device. I’ve used it to silence my

By Jordan Valinsky, CNN Business New York (CNN) — Adidas CEO Bjørn Gulden said he doesn’t think Kanye West “meant what he said” when the rapper spewed antisemitic comments last year. In a recent podcast interview, Gulden complimented West, also known as Ye, calling him “one of the most creative people in the world.” Gulden

By Jordan Valinsky, CNN New York (CNN) — Kraft Heinz is recalling about 83,000 cases of its individually wrapped Kraft Singles American cheese because they might pose a choking hazard. The company said in a statement that a “temporary issue” with one of its wrapping machines means a “thin strip of the individual film may

By Bryan Mena Washington, DC (CNN) — The Federal Reserve said Wednesday it will pause its rate hikes, keeping its benchmark lending rate at a 22-year high, while signaling fewer rate cuts next year. The move was widely expected, after the central bank signaled in recent weeks that it intended to wait for more data

By Nathaniel Meyersohn, CNN New York (CNN) — Looming over the United Auto Workers strike: Automakers’ continued migration to the anti-union South. Beginning in the 1970s and 1980s, the auto industry began shifting South, a region long characterized by hostility to labor unions and by low wages. Since then, assembly lines of higher-paid UAW workers

By Ella Nilsen and Krystina Shveda, CNN (CNN) — Millions of American homeowners could see insurance rates surge in the coming years in part due to worsening climate disasters, new data shows. An analysis of from nonprofit research group First Street Foundation found nearly 39 million homes and commercial properties – about 27% of properties

By Chris Isidore, CNN (CNN) — The union representing Canadian autoworkers at Ford has reached a tentative deal with the US automaker, keeping more than 5,000 union members on the job and providing some good news for an industry dealing with unprecedented labor disruptions. Details of the deal between Ford and Unifor, the Canadian union,

By Ramishah Maruf, CNN New York (CNN) — Stanford University said it will be returning gifts it received from bankrupt crypto exchange FTX “in their entirety,” after a lawsuit against founder Sam Bankman-Fried’s parents alleged the school received millions of dollars in donations. The school said it received the gifts from the FTX Foundation and

By Danielle Wiener-Bronner and Natasha Chen, CNN New York (CNN) — Disney is greatly expanding its investment into theme parks and cruises, the company said Tuesday. Over the next 10 years, it will pour $60 billion into its Disney Parks, Experiences and Products segment, according to an SEC filing which coincided with its investor summit

By Ramishah Maruf, CNN New York (CNN) — Santa may be a little short on helpers this Christmas. America’s retailers are expected to add just 410,000 seasonal positions for this year’s holiday shopping season, according to an estimate from outplacement services firm Challenger, Gray & Christmas. That would mark the industry’s lowest seasonal hiring total

By Clare Duffy, CNN New York (CNN) — Millions of Fortnite users can now claim their small part of the $245 million that the game’s parent company agreed to pay as part of a settlement with the US Federal Trade Commission. Epic Games in December settled allegations with the FTC that it used deceptive tactics