By Vanessa Yurkevich, CNN The Biden administration is proposing a new labor rule that could classify millions of gig workers as employees — a move that would challenge the low-cost labor models behind Silicon Valley heavyweights such as Uber, Lyft and DoorDash. The proposed rule announced by the Labor Department on Tuesday aims to broaden
Continue Reading By Paul R. La Monica, CNN Business The back-to-back, huge market rallies of last week may seem like a distant memory to investors after stocks slid for the past four days and finished mixed Tuesday. The Dow snapped its losing streak, rising more than 35 points, or 0.1%. It was a topsy-turvy trading session, with
Continue Reading By Paul R. La Monica, CNN Business The back-to-back, huge market rallies of last week may seem like a distant memory to investors after stocks slid for the past four days and finished mixed Tuesday. The Dow snapped its losing streak, rising more than 35 points, or 0.1%. It was a topsy-turvy trading session, with
Continue Reading By Peter Valdes-Dapena, CNN Business Honda and South Korean battery maker LG Energy Solutions are investing $3.5 billion to build a joint venture battery factory in southern Ohio, the car company said Tuesday. An exact location hasn’t been announced but the factory, which is expected to employ 2,200 people, will be in Fayette County, southwest
Continue Reading Martha C. White for CNN Business Hurricane Ian’s devastating impact will be felt for weeks and months to come, especially in the state of Florida where much of the storm’s damage was sustained. Economists say tens of thousands of people are likely to file for unemployment benefits in the storm’s wake, but if those workers
Continue Reading Martha C. White for CNN Business Hurricane Ian’s devastating impact will be felt for weeks and months to come, especially in the state of Florida where much of the storm’s damage was sustained. Economists say tens of thousands of people are likely to file for unemployment benefits in the storm’s wake, but if those workers
Continue Reading By CNN Staff Jake Tapper, CNN’s chief Washington correspondent and anchor, is set to kick off his new show Tuesday evening by sitting down to speak with President Joe Biden. The interview is Biden’s first with CNN since he took office in 2021. It will be taped in the afternoon before airing on “CNN Tonight
Continue Reading By Julia Horowitz, CNN Business The International Monetary Fund has once again downgraded its forecast for the global economy with a sharp warning: “The worst is yet to come, and for many people 2023 will feel like a recession.” The agency said Tuesday that it expects global growth to slump to 2.7% next year, with
Continue Reading By CNN Staff Jake Tapper, CNN’s chief Washington correspondent and anchor, is set to kick off his new show Tuesday evening by sitting down to speak with President Joe Biden. The interview is Biden’s first with CNN since he took office in 2021. It will be taped in the afternoon before airing on “CNN Tonight
Continue Reading By Nathaniel Meyersohn, CNN Business It’s only October, but holiday shopping promotions are here with retailers bringing out the Christmas trees, turning on the holiday music and dangling sales from now until January. This month alone, there’s Target’s “Deal Days,” Walmart’s “Rollbacks and More,” Best Buy’s “Flash Sale” and a new Amazon Prime Day-like event.
Continue Reading By Nathaniel Meyersohn, CNN Business It’s only October, but holiday shopping promotions are here with retailers bringing out the Christmas trees, turning on the holiday music and dangling sales from now until January. This month alone, there’s Target’s “Deal Days,” Walmart’s “Rollbacks and More,” Best Buy’s “Flash Sale” and a new Amazon Prime Day-like event.
Continue Reading By Nicole Goodkind, CNN Business Stocks lost ground again on Monday following a turbulent week that saw market volatility at its bumpiest level since July. These mercurial markets come as investors overreact to data in eager anticipation of the Federal Reserve’s next interest rate policy decision, said Alan Blinder, former Fed Vice Chair and Princeton
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors is starting its own energy storage business using its Ultium battery packs to power homes and charge cars as well as to feed power back into the grid when needed. The new business unit, called GM Energy, will consist of Ultium Home, Ultium Commercial and Ultium Charge 360
Continue Reading By Mark Thompson, CNN Business For the second time in two days, the Bank of England has been forced to offer extra support to UK markets still reeling from the government’s announcement last month that it would slash taxes and increase borrowing. The central bank warned Tuesday that there was still a “material risk to
Continue Reading By Matt McFarland, CNN Business Drivers are putting too much trust in their vehicles’ driver-assist features, which may lead to dangerous situations, according to the Insurance Institute for Highway Safety (IIHS). The organization, which researches vehicle safety, released a study Tuesday finding that 53% of General Motors’ Super Cruise users, 42% of Tesla Autopilot users
Continue Reading By Chris Isidore and Vanessa Yurkevich, CNN Business A union of railroad track maintenance workers has rejected a tentative agreement with the nation’s freight carriers, renewing the threat that there could be a strike that shuts down this vital link in the nation’s already struggling supply chain. The vote, announced Monday by the Brotherhood of
Continue Reading By Jackie Wattles, CNN Astronauts have for decades described their trips to space as “breathtaking” and humbling, a reminder of the Earth’s fragility and humanity’s need to serve as stewards of our home planet. Actor William Shatner, who joined a suborbital space tourism flight last year, experienced the same phenomenon, but he had a very
Continue Reading By Clare Duffy and Brian Fung, CNN Business Spam and fake accounts are more prevalent on Twitter than on comparable social platforms, according to a data analysis firm hired by Elon Musk as part of his legal battle with Twitter. The claim by Cyabra — in the company’s first public interview since conducting a study
Continue Reading By Chris Isidore, CNN Business Here’s the bad news first: Gas prices are on the rise in most of the US and could soon hit a national average of $4 a gallon for the first time in two months. But the good news is prices might not stay there long, as they’re already falling in
Continue Reading By Paul R. La Monica, CNN Business So much for a sleepy Columbus Day on Wall Street. Stocks weren’t doing much Monday morning but took a turn lower in the afternoon following stark comments from JPMorgan Chase CEO Jamie Dimon, who warned that the United States is likely to enter a recession within the next
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