Money

By Nathaniel Meyersohn, CNN New York (CNN) — Target’s sales slumped last quarter and the retail giant is predicting a slow holiday shopping season. Target’s sales tumbled 4.9% — the second quarter in a row sales have dropped. And the company forecast a weak holiday, as customers continue to forgo discretionary purchases like furniture, electronics and some

By Vanessa Yurkevich, CNN New York (CNN) — Going for seconds this Thanksgiving won’t be so painful – for your wallet. A Thanksgiving meal of twelve classic items for 10 people will cost $61.17 on average – a 4.5% drop from last year’s record high average of $64.05, according to a new survey from the

By Parija Kavilanz, CNN New York (CNN) — Sephora has drastically changed the way people shop for fragrances in its stores, and it’s blaming store thefts for it. Sephora told CNN that it has removed all fragrances – which it said are among the most targeted items for theft – from stores shelves and displays

By Michelle Toh, CNN Hong Kong (CNN) — China’s retail sales and factory output grew more than expected in October, official data showed on Wednesday, even as the country’s crisis-hit real estate sector continued to drag on the economy. Retail sales surged 7.6% last month compared to the same period last year, according to the

By Elisabeth Buchwald, CNN New York (CNN) — The House Financial Services Committee has launched an investigation into Federal Deposit Insurance Corporation Chair Martin Gruenberg’s conduct at the agency, members of the committee announced on Friday. This comes after a Wall Street Journal investigation based on interviews with more than 100 current and former FDIC

By Matt Egan, CNN New York (CNN) — A coalition of Muslim bar associations is accusing leading law firms of contributing to Islamophobia and a climate of fear in the legal community. In a letter to more than 100 of America’s top law firms, 13 national and regional bar associations called for the law firms

By Nathaniel Meyersohn, CNN New York (CNN) — The United Automobile Workers’ won big wage and benefit gains in tentative contract agreements with Ford, General Motors and Stellantis. Now, non-union companies are rushing to give their non-unionized workers raises, too. Toyota, Honda and Hyundai all announced raises for their US factory workers within two weeks

By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s social media venture Truth Social is burning cash and piling up losses so rapidly that accountants warn it might not survive unless it soon completes a long-delayed merger, according to corporate filings. Trump Media & Technology Group (TMTG), which is chaired by the

By Chris Isidore, CNN New York (CNN) — Stellantis is offering buyouts to half of its salaried US staff in a cost cutting move. The European automaker, which builds cars for the US market under the Jeep, Ram, Dodge and Chrysler brands, said the offers would be made to all salaried staff with five years

By Sergio Padilla, CNN New York (CNN) — If you love wearing crocs while eating a Big Mac, today is your lucky day. McDonald’s confirmed Monday that it is collaborating with Crocs for one of its rare ventures into the footwear industry. The collaboration features shoes, socks and “Jibbitz” (the little charms that go inside

By Anna Cooban, CNN London (CNN) — The German government is putting €7.5 billion ($8 billion) of taxpayer cash on the table to secure the rescue of troubled wind turbine-maker Siemens Energy, a company of vital importance to the country’s energy transition. The sum is part of a €15 billion ($16.3 billion) package of guarantees,

By Chris Isidore, CNN New York (CNN) — A growing number of rank-and-file autoworkers are voting against the deals with Ford and General Motors, despite pay increases that could come to 30% or more during the life of the contract. The latest setbacks for the deals came in votes at two GM plants, a truck

By Danielle Wiener-Bronner, CNN New York (CNN) — If you’re watching your budget, it might be time to skip the drive-thru and head to the supermarket. In the 12 months through October, higher restaurant prices drove food prices above overall inflation, even as grocery prices were relatively low. For the year, grocery prices rose 2.1%,

By Krystal Hur, CNN New York (CNN) — Stocks climbed on Tuesday as Wall Street cheered the inflation cooldown in the latest economic data for October. The Dow rose 490 points, or 1.4%. The S&P 500 gained 1.9% and the Nasdaq Composite added 2.4%, both notching their best day since April. The Consumer Price Index

By Jordan Valinsky, CNN New York (CNN) — Henry Blodget is stepping down as chief executive of Insider, a business news-focused website he co-founded in 2007 that has undergone many reinventions. The sudden change comes amid a broader shakeup at the publication, which includes returning to its former name of “Business Insider” as it shifts

By Jennifer Korn, CNN (CNN) — Venmo wants to eliminate the financial mental math of splitting roommate bills, lunch checks and road trip costs. The new Venmo Groups feature gives users the ability to track and split ongoing group expenses, making it easier to figure out who owes who what. Members can add an expense

By Jordan Valinsky, CNN New York (CNN) — One of the most recognizable jingles in history is making a return. Chili’s is bringing back its “I want my baby back, baby back, baby back…ribs” jingle for a new advertising campaign promoting the dish that’s been a staple on the chain’s menu since the late 1980s.

By Alicia Wallace, CNN Minneapolis (CNN) — First, the bad news: Prices continue to rise. Now, the good news: They’re doing so at a rate not seen in two years. The Consumer Price Index rose 3.2% for the 12 months that ended in October, down from 3.7% in September, and clocking in at the lowest

By Chris Isidore, CNN New York (CNN) — Home Depot reported slower earnings on weaker sales, although it still was able to beat Wall Street analysts’ forecasts. Consumers aren’t spending on home improvement projects the way they were during the pandemic. But the company said it is still seeing some strength in smaller improvement jobs,

By Clare Duffy, CNN New York (CNN) — YouTube will soon require disclosures on videos that contain content generated by artificial intelligence and could mislead viewers. The Google-owned platform has long prohibited technically manipulated content that could mislead viewers and “pose a serious risk of egregious harm.” But with a new policy update announced Tuesday,