CNN – Business/Consumer

By Bryan Mena, CNN Washington, DC (CNN) — The Commerce Department’s final revision of second-quarter gross domestic product, the broadest measure of economic output, showed that economic growth was unchanged from the second estimate, holding at an annualized rate of 2.1%. However, consumer spending, America’s economic engine, was revised much lower, to a 0.8% annualized

By Matt Egan, CNN New York (CNN) — Business leaders are expressing alarm after Target became the latest retailer to blame crime for pulling the plug on stores. “The US Chamber is deeply concerned with increasing reports of stores closing in communities across the country due to large-scale theft and looting,” Tom Wickman, senior vice

By Jordan Valinsky, CNN New York (CNN) — Peloton and Lululemon, former foes, are teaming up together. The fitness companies announced a five-year “strategic global partnership,” which involves Lululemon ditching its Mirror fitness hardware and Peloton reducing production of its private-label line of fitness clothing. Financial terms of the deal weren’t disclosed. Beginning next month,

By Brian Fung, CNN Washington (CNN) — An antitrust lawsuit from 17 states and the Federal Trade Commission this week against Amazon represents the US government’s biggest regulatory challenge yet against the e-commerce juggernaut. The landmark case targets Amazon’s retail platform, alleging that it’s harmed shoppers and sellers alike on a massive scale. Through an

By Nathaniel Meyersohn, CNN New York (CNN) — The auto industry has announced more than $100 billion in electric car investments, creating more than 100,000 American jobs. A second Donald Trump presidency could derail the push. Despite Former President Donald Trump’s claims at a Detroit rally Wednesday that EVs are “too expensive” and “don’t go

By Jordan Valinsky, CNN New York (CNN) — For tired workers, this Friday is arguably the best day of the year: It’s National Coffee Day. Coffee shops, large and small, celebrate it annually with free (what else?) coffee and other deals. Peet’s is even offering a “Disloyalty Program” that incentivizes customers of its rivals to

By Danielle Wiener-Bronner, CNN New York (CNN) — The Department of Labor is investigating meat and chicken processors Perdue and Tyson Foods following a New York Times magazine report of minors working at their facilities. Earlier this year, the federal government committed to ratcheting up efforts to root out child labor law violations. “There are

By Laura He and Mark Thompson, CNN Hong Kong/London (CNN) — Embattled Chinese developer Evergrande Group said Thursday that Chinese authorities suspected its chairman of “crimes” and that shares in the company would remain suspended until further notice. Trading in the shares of Evergrande and two subsidiaries was halted in Hong Kong earlier Thursday, stoking

By Jon Passantino, CNN (CNN) — Striking actors and the Hollywood studios will resume negotiations on a new labor contract on Monday, SAG-AFTRA, the actors’ union, said Wednesday, the same day writers ended their own strike in the entertainment industry. Several executives from the Alliance of Motion Picture and Television Producers member companies will be

By Samantha Delouya, CNN (CNN) — Uber is getting a new chief financial officer. The rideshare company announced Wednesday that Prashanth Mahendra-Rajah, the CFO of semiconductor company Analog Devices, will step into the role at Uber on November 13. “I’m confident he’ll be able to help us deliver even more innovation and efficiency as we

By Ramishah Maruf, CNN New York (CNN) — Delta CEO Ed Bastian said the company probably went “too far” in its controversial changes to the SkyMiles loyalty program and said there are plans for modifications. “We need to make certain that we can serve our higher tiers with the level of premium experience that you

By Brian Fung, CNN (CNN) — The White House plans to introduce a highly anticipated executive order in the coming weeks dealing with artificial intelligence, President Joe Biden said Wednesday. “This fall, I’m going to take executive action, and my administration is going to continue to work with bipartisan legislation,” Biden said, “so America leads

By Ramishah Maruf, CNN New York (CNN) — PlayStation boss Jim Ryan is stepping down from the company, Sony announced Wednesday. The Sony Interactive Entertainment President and CEO will be retiring in March 2024 after 30 years in the PlayStation business. Sony Group Corporation president, COO and CFO Hiroki Totoki will assume the role of

By Matt Egan, CNN New York (CNN) — US oil prices topped $94 a barrel on Wednesday for the first time in over a year, threatening to push up prices at the pump and inflation across the economy. The latest gains came after federal data showed crude inventories fell by more than expected last week.

By Jennifer Korn, CNN New York (CNN) — Meta is moving forward in its efforts to dominate the AR world with the new and improved Meta Quest 3. Unveiled by CEO Mark Zuckerberg at the company’s virtual Meta Connect event Wednesday, the headset starts at $500 and is a complete redesign of earlier models. The

By Peter Valdes-Dapena, CNN Business (CNN) — Owners of about 3.3 million Hyundai and Kia cars and SUVs in the United States should avoid parking in or near structures because the vehicles could suddenly catch fire – whether they’re being driven or not, according to an announcement Wednesday from the National Highway Traffic Safety Administration.

By Jeanne Sahadi, CNN New York (CNN) — Women have made huge strides in business, ascending to the C-suite and the boardroom in record numbers. But they are still very far from achieving parity with men in securing top corporate jobs in the United States. Women make up half the US population. But they only

By Chris Isidore and Vanessa Yurkevich, CNN Detroit (CNN) — The United Auto Workers union is preparing to announce a possible expansion of its strike against General Motors, Stellantis and maybe Ford this Friday if there isn’t more progress in talks, a union source familiar with plans said Wednesday. UAW President Shawn Fain is set

By Chris Isidore, CNN New York (CNN) — Donald Trump arrives in Michigan Wednesday with a lot more support among blue collar union members than a lot of Republican presidential candidates before him. But his record as president is decidedly anti-union. “I want a future that protects American labor, not foreign labor,” he said at

CNN By Parija Kavilanz, CNN New York (CNN) — Target’s decision to close nine of its stores in major cities, citing persistent large-scale theft at those locations is the latest signal that retailers may be struggling in their battle to contain a growing and dangerous problem. Industry experts say even a small increase in crime