By Nathaniel Meyersohn, CNN Business Gas station bathrooms are the last place most people want to stop to do their business. But that wasn’t always the case. Spotless bathrooms were once a crucial selling point for gas stations. In fact, oil giants’ gas station ads in the early and mid-20th century assured travelers that their
Continue Reading By Peter Valdes-Dapena, CNN Business The Michigan-based arm of the international automaker Stellantis has pleaded guilty and agreed to pay $300 million in penalties to settle an investigation into alleged cheating on emissions tests for some of its diesel-powered vehicles. The vehicles in question are more than 100,000 diesel-powered Jeep Grand Cherokee SUVs and Ram
Continue Reading The pandemic pushed over 2.6 million more people into retirement than projected, according to the Federal Reserve Bank of St. Louis. The reasons for the early exits varied: some workers saw an unexpected financial boost from the strong stock market and high home prices, others were laid off or left their jobs over health and
Continue Reading Opinion by Kara Alaimo for CNN Business Perspectives Earlier this week, Tesla CEO Elon Musk sent emails announcing that the company’s employees all have to be in the office full time — or else. “Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40
Continue Reading By Julia Horowitz, CNN Business In recent years, when a company announced it was splitting its stock, Wall Street went wild. When Tesla revealed such plans in 2020, its shares immediately shot up. They climbed 66% over the following 12 months. But as concerns about the Federal Reserve, inflation and the economy plague investors, those
Continue Reading By Peter Valdes-Dapena, CNN Business A Jeep Wrangler tipped over onto its side during a crash test by the Insurance Institute for Highway Safety. This is the second time a Wrangler flipped onto its side during this type of crash test by the IIHS, and it comes after engineers said they had worked to fix
Continue Reading By Danielle Wiener-Bronner, CNN Business Starbucks is reopening in Shanghai, a sign of hope as the city slowly emerges from its strict Covid restrictions. Shanghai lifted its two-month lockdown on Wednesday. So far the coffee chain has reopened about 600 of its 940 stores in the city, according to Starbucks spokesperson Jaime Riley. Employees “are
Continue Reading By Kathryn Vasel, CNN Business The strong labor market has given us near record low unemployment, higher wages — and an unfortunate uptick in the number of reports of job seekers getting scammed. “We are definitely seeing job scams,” said Rhonda Perkins, attorney and chief of staff of the Federal Trade Commission’s division of marketing
Continue Reading By Jordan Valinsky, CNN Business LeBron James is a billionaire, marking the first time an active NBA player has achieved that milestone, according to one calculation. Forbes said that the Los Angeles Lakers star has “maximized his business,” generating more than $1.2 billion in pretax earnings. His NBA salary from three different teams during the
Continue Reading By Julia Horowitz, CNN Business Fears about whether America could fall into a recession are dominating conversations among investors and pose a risk to the Biden administration ahead of midterm elections this fall. In the meantime, the US economy is humming along — though there are signs it is sliding into a lower gear. That
Continue Reading By Chris Isidore, CNN Business US employers added 390,000 jobs in May, representing a robust but slower pace of hiring, according to the Bureau of Labor Statistics’ monthly jobs report released Friday. The unemployment rate stayed at 3.6%, slightly higher than the half-century low recorded in February 2020, before the pandemic hit. While the number
Continue Reading By Matt Egan, CNN Business The world is grappling with gravity-defying energy price spikes on everything from gasoline and natural gas to coal. Some fear this may just be the beginning. Current and former energy officials tell CNN they worry that Russia’s invasion of Ukraine in the wake of years of underinvestment in the energy
Continue Reading By Brian Stelter, CNN Business The obituaries for the shooting victims of Robb Elementary took up three full pages in the Uvalde Leader-News on Thursday. The rest of the paper contains haunting questions about why they died. The newest edition of the paper makes clear that many Uvalde-area officials are steadfastly declining to comment, even
Continue Reading By Oliver Darcy, CNN Business Three companies tied to the far-right conspiracy theorist Alex Jones, including the fringe media organization Infowars, are moving to exit bankruptcy, according to a Wednesday court document. In a widely decried move, Infowars, Prison Planet, and Infowars Health sought bankruptcy protection after Jones was found legally responsible for damages in
Continue Reading By Chris Isidore, CNN Business Soaring gas prices have done little to slow US drivers’ purchases at the pump. But they could start to spend less on other goods and services, which would be a strong headwind for an increasingly shaky US economy, experts say. In the week ending this past Saturday, there was a
Continue Reading By Brian Stelter, CNN Business The obituaries for the shooting victims of Robb Elementary took up three full pages in the Uvalde Leader-News on Thursday. The rest of the paper contains haunting questions about why they died. The newest edition of the paper makes clear that many Uvalde-area officials are steadfastly declining to comment, even
Continue Reading By Brian Stelter, CNN Business The obituaries for the shooting victims of Robb Elementary took up three full pages in the Uvalde Leader-News on Thursday. The rest of the paper contains haunting questions about why they died. The newest edition of the paper makes clear that many Uvalde-area officials are steadfastly declining to comment, even
Continue Reading By Jordan Valinsky, CNN Business LeBron James is a billionaire, marking the first time an active NBA player has achieved that milestone, according to one calculation. Forbes said that the Los Angeles Lakers star has “maximized his business,” generating more than $1.2 billion in pretax earnings. His NBA salary from three different teams during the
Continue Reading By Danielle Wiener-Bronner, CNN Business Last week, activist investor Nelson Peltz said in a regulatory filing that Trian Partners, his investment firm and Wendy’s top shareholder, is exploring a takeover of the burger chain. The wealthy investor has a reputation on Wall Street as a corporate raider, pushing companies to make drastic changes, such as
Continue Reading By Peter Valdes-Dapena, CNN Business Ford announced a new $3.7 billion investment Thursday across three mid-western states to build a new yet-to-be-revealed Mustang and to ramp up production of trucks and vans, including new electric models. The Michigan-based automaker will invest $2 billion in its home state, an investment that will create 2,000 new jobs,
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