Money

By Jeanne Sahadi, CNN (CNN) — The Federal Reserve delivered a half percentage point interest rate cut on Wednesday – its first cut since March 2020. Wednesday’s move is expected to be the first of several rate cuts over the next year or two. But it alone may not immediately have a big impact on

CNN By Alexandra Banner, CNN (CNN) — Here’s what else you need to know to Get Up to Speed and On with Your Day. 1. Economy In a significant shift for the US economy, the Federal Reserve on Wednesday announced a jumbo-sized interest rate cut for the first time in four years. The half-point move is

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — Boeing is temporarily furloughing executives and other nonunion workers to save cash during the strike by 33,000 members of the International Association of Machinists, CEO Kelly Ortberg told employees in an email Wednesday. The furloughed employees will keep their benefits and they will be

By Jordan Valinsky, CNN New York (CNN) — Five contestants competing on a MrBeast-hosted reality competition show have filed a proposed class-action lawsuit against the YouTube star’s production company and Amazon, claiming they were denied pay, forced to participate in unsafe conditions and subjected to a “culture of misogyny and sexism.” The lawsuit was filed

By Jordan Valinsky, CNN New York (CNN) — With its line-up of sweet snacks, Hershey isn’t known as a purveyor of diet foods. However, the company’s newest products are made specifically for those on a fitness kick. As the use of weight-loss drugs — notably Ozempic and Wegovy — grows, the 130-year-old confectionery company is

By Anna Cooban, CNN London (CNN) — “Millions” of people could fall victim to scams using artificial intelligence to clone their voices, a UK bank has warned. Starling Bank, an online-only lender, said fraudsters are capable of using AI to replicate a person’s voice from just three seconds of audio found in, for example, a

By Hadas Gold, CNN New York (CNN) — Macollvie Neel, editor of the Haitian Times, was ready to start her workday from home on Monday when her doorbell rang. What she thought might be a delivery turned out to be more than a half-dozen police officers. “I looked and there were police cruisers outside my house,”

By Wayne Chang, Eric Cheung, Nectar Gan, Balint Bardi and Kara Fox, CNN New Taipei City and Budapest (CNN) — A Taiwanese electronics manufacturer has said that a tiny European company made the pagers linked to the deadly attack targeting Hezbollah members in Lebanon on Tuesday, as a fresh wave of walkie-talkie explosions rocked parts

By Jordan Valinsky, CNN New York (CNN) — Wednesday is National Cheeseburger Day, with some of the biggest chains offering some much-needed discounts amid consumer complaints about rising prices. McDonald’s, the biggest company, is selling 50-cent double cheeseburgers when they’re ordered in its app – about 45 cents more than what the chain’s original hamburger cost in

By Bryan Mena, CNN Washington (CNN) — The Federal Reserve slashed interest rates aggressively Wednesday, announcing the first rate cut since March 2020. The half-point move paves the way for lower borrowing costs on everything from mortgages to credit cards. It marks a crucial milestone for the central bank’s historic inflation fight, which kept rates at a bruising 23-year high for more than

By Ramishah Maruf and Olesya Dmitracova, CNN New York/London (CNN) — Tupperware, known the world over for its plastic food storage containers, has filed for bankruptcy after years of falling popularity and financial troubles. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman,

By Kayla Tausche, CNN (CNN) — Nippon Steel is expected to re-file its application for a national security review by American regulators of its $15 billion takeover bid of US Steel, sources familiar with the matter told CNN on Tuesday, buying Japan’s largest steelmaker an additional 90 days to close its acquisition of an American

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — United Auto Workers union President Shawn Fain said Tuesday the group plans to hold strike authorization votes against Stellantis because the automaker was failing to live up to guarantees it made during a labor deal struck last year. In a speech to members Tuesday

By Ramishah Maruf, CNN New York (CNN) — So far, the attacks that targeted Iran-backed Lebanese militant group Hezbollah members through their pagers have had devastating consequences. The pager explosions killed at least twelve people, including two children and wounded around 2,800. In a fresh wave of explosions Wednesday – this time walkie talkies – at

By Elisabeth Buchwald, CNN New York (CNN) — If you’ve been anxiously awaiting financial relief from the Federal Reserve, you are about to get a rude awakening. After keeping interest rates at a 23-year high for over a year, the Fed is widely expected to announce Wednesday it is finally cutting its benchmark lending rate.

By Nathaniel Meyersohn, CNN New York (CNN) — Sam’s Club will raise pay to incentivize workers to stay with the company — and not jump ship to Costco. Sam’s Club, the membership club arm of Walmart, will increase its minimum wage to $16 starting in November from $15 an hour. It will also raise wages

By Jordan Valinsky, CNN New York (CNN) — Some of YouTube’s biggest stars are taking on Lunchables with a competitor of their own. MrBeast, Logan Paul and KSI are teaming up on a “groundbreaking new better-for-you lunch option” called Lunchly, which combines all of their products into one meal that’s aimed at their young fan

By Bryan Mena, CNN Washington (CNN) — A key driver of the US economy remains solid. Spending at US retailers rose 0.1% in August from the prior month, the Commerce Department reported Tuesday. That’s a much slower pace than July’s upwardly revised 1.1% gain, but well above the 0.2% decline economists projected in a FactSet