Money

By Danielle Wiener-Bronner, Natasha Chen and Jack Hannah, CNN New York (CNN) — California is raising the minimum wage for fast food workers, marking a hard-won victory for those workers and union organizers. Amid chants of “when we fight, we win” from fast food employees and Service Employees International Union members in Los Angeles, California,

By Bryan Mena and Elisabeth Buchwald, CNN (CNN) — The Federal Reserve on Thursday admonished Tanner Winterhof, a former executive at VisionBank of Iowa, for allegedly falsifying documents, causing the bank to endure major losses. Despite VisionBank terminating him last year, Winterhof still managed to get another job at a bank. According to the Fed,

By Berry Wang and Jessie Yeung, CNN Hong Kong (CNN) — Artists across China are boycotting one of the country’s biggest social media platforms over complaints about its AI image generation tool. The controversy began in August when an illustrator who goes by the name Snow Fish accused the privately owned social media site Xiaohongshu

By Samantha Murphy Kelly, CNN Business (CNN) — Netflix will send out its last red envelope on Friday, marking an end to 25 years of mailing DVDs to members. The company announced earlier this year it is shutting down its DVD-by-mail service, 16 years after it gradually shifted its focus to streaming content online. Netflix

By Danielle Wiener-Bronner, CNN New York (CNN) — Girl Scout cookies are getting more expensive. In some places, at least. At least one New York State chapter, the Girl Scouts Heart of the Hudson, told troop parents and other members of the community in an email this week that all cookies will be sold for

By Clare Duffy, CNN (CNN) — Epic Games, the maker of Fortnite, said on Thursday that it will lay off 16% of its staff, around 830 employees, as it attempts to reverse what CEO Tim Sweeney called “unrealistic” spending. In a letter to employees Thursday, Sweeney said the video game company had been “spending way

By Jordan Valinsky, CNN Business New York (CNN) — Taylor Swift is so powerful that people are willing to pay for New York Jets tickets. News that the star is rumored to be attending this Sunday’s game to see Kansas City Chiefs star Travis Kelce has sent prices soaring more than 40% — from $83

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates surged to their highest level in nearly 23 years this week as inflation pressures persisted. The 30-year fixed-rate mortgage averaged 7.31% in the week ending September 28, up from 7.19% the week before, according to data from Freddie Mac released Thursday. A year ago,

By Anna Bahney, CNN Washington, DC (CNN) — US pending home sales dropped 7.1% in August from the month prior as mortgage rates surging over 7% in August to levels not seen in 20 years packed a punch. Pending sales had been on the rise the two months prior, despite elevated prices and higher mortgage

By Brian Fung, CNN Washington (CNN) — Yelp is suing Texas to ensure it can continue to tell users that crisis pregnancy centers listed on its site do not provide abortions or abortion referrals, opening a new front in the fight between states and the tech industry over abortion restrictions. In a complaint filed Wednesday

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