By Nathaniel Meyersohn, CNN Business Finally, shoppers are getting some good news about prices: Inflation is falling on discretionary merchandise just in time for the holidays, Walmart chief Doug McMillon said Tuesday. “In toys, sporting goods, apparel, categories like that, prices have come down more aggressively,” McMillon said in an interview on CNBC. “We’re still
Continue Reading By Catherine Thorbecke, CNN Business Some 300 quality assurance workers at Microsoft-owned gaming studio ZeniMax are in the process of voting to form what would be the first union at the tech giant, organizers confirmed to CNN Business. The workers are organizing with the Communications Workers of America (CWA) union and have until the end
Continue Reading By Danielle Wiener-Bronner, CNN Business A McDonald’s franchise operator has violated child labor laws, according to an investigation by the Department of Labor. Santonastasso Enterprises, which operates McDonald’s locations in the Pittsburgh area, allowed 14- and 15-year-olds to work more than three hours after 7 pm on school days, after 9 pm over the summer
Continue Reading By Anna Cooban, CNN Business The world’s biggest economic relationship has hit a rough patch. The European Union and United States — together responsible for one third of global trade — have been at loggerheads in recent weeks over US President Joe Biden’s landmark $370 billion climate plan. The Inflation Reduction Act (IRA), which passed
Continue Reading By Danielle Wiener-Bronner, CNN Business Philadelphia Cream Cheese is launching a non-dairy version of its signature spread. The plant-based cream cheese is now available at grocery stories in Atlanta, Houston, Miami and other locations in the Southeast, with a wider rollout planned for summer 2023. The new variety is made with coconut oil and faba
Continue Reading By Chris Isidore, CNN Business The US trade gap edged only slightly higher in October than the month before, to $78.2 billion. The latest reading was up just 5.4%, less than half the pace of increase from the revised September reading, when the trade deficit jumped by 12.7% to $74.1 billion. A strong dollar and
Continue Reading By Jordan Valinsky, CNN Business Taiwan Semiconductor Manufacturing Company is upping its investment in the United States, announcing Tuesday that it’s building a second semiconductor factory in Arizona and raising its investment there from $12 billion to $40 billion. TSMC’s plans come as tensions between Washington and Beijing are rising over chips, with President Joe
Continue Reading By Nicole Goodkind, CNN Business Democrats and Republicans in Congress are gearing up for yet another political showdown over raising the nation’s $31.4 trillion borrowing limit. This isn’t anything new; Congress has raised the debt ceiling almost 100 times since they initially set a limit to curtail government borrowing more than a century ago. But
Continue Reading By Juliana Liu, CNN Business Chinese fast fashion retailer Shein, the subject of recent controversy around alleged labor rights abuses, says it plans to invest $15 million to improve working conditions at factories in its supply chain. The money will be spent over the next three to four years to physically upgrade hundreds of factories
Continue Reading By Hanna Ziady, CNN Business Global renewable power capacity is set to grow as much in the next five years as it has over the past two decades, as soaring energy prices and the climate crisis force governments to ditch fossil fuels. In a report published Tuesday, the International Energy Agency forecast a sharp acceleration
Continue Reading By Clare Duffy, CNN Business After a yearlong review, Meta’s Oversight Board on Tuesday said the company’s controversial system that applies a different content moderation process for posts from VIPs is set up to “satisfy business concerns” and risks doing harm to everyday users. In a nearly 50-page advisory, including more than two dozen recommendations
Continue Reading By Clare Duffy, CNN Business After a yearlong review, Meta’s Oversight Board on Tuesday said the company’s controversial system that applies a different content moderation process for posts from VIPs is set up to “satisfy business concerns” and risks doing harm to everyday users. In a nearly 50-page advisory, including more than two dozen recommendations
Continue Reading By Faith Karimi, CNN Ifeoma Ozoma’s path as an advocate for tech workers started with a series of tweets one morning in June 2020. It was a few months after she was pushed out from her job at Pinterest, the image-sharing and social media platform. Across the United States, protests and outrage filled the streets
Continue Reading By Faith Karimi, CNN Ifeoma Ozoma’s path as an advocate for tech workers started with a series of tweets one morning in June 2020. It was a few months after she was pushed out from her job at Pinterest, the image-sharing and social media platform. Across the United States, protests and outrage filled the streets
Continue Reading By Abeer Salman, Hadas Gold, Alex Stambaugh and Teele Rebane, CNN Al Jazeera has submitted a case to the International Criminal Court (ICC) over the killing of journalist Shireen Abu Akleh, who was shot in the head while covering an Israeli raid in Jenin in the occupied West Bank in May. “Al Jazeera’s legal team
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View a replay of the City Council meeting above. COLUMBIA, Mo. (KMIZ) The Columbia City Council expects to vote on the fate of the city’s recycling and trash bags Monday night. In the past, the Solid Waste Department recommended the city end the use of city logo bags. City leaders gave the community chances to
Continue Reading By Oliver Darcy, CNN Business Rupert Murdoch, the Fox Corporation chairman, is set to be deposed next week in Dominion Voting System’s $1.6 billion lawsuit against Fox News over its coverage of election fraud in the 2020 election. The deposition will take place on December 13 at 9:30am ET and “will be conducted remotely, under
Continue Reading By Brian Fung, CNN Facebook owner Meta threatened to remove news content from its platforms on Monday following reports that US lawmakers have added controversial legislation favoring news media to the annual defense authorization bill. The warning highlights the danger that Meta perceives to its business model in the face of the proposed bill, known
Continue Reading By Brian Fung, CNN A threat by Facebook owner Meta to remove news content from its platforms appears to have been averted — for now — after US lawmakers omitted an antitrust bill it opposed from the text of an annual defense spending bill released late Tuesday evening. Meta had warned on Monday that if
Continue Reading By Matt Egan, CNN Slower hiring. Weaker spending. And softer growth. That’s what America’s CEOs are bracing for as the economy heads into 2023 facing a series of obstacles. The Business Roundtable said Monday its CEO Economic Outlook Index tumbled during the fourth quarter to the lowest level in more than two years. The index,
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