Money

By Laura He, CNN Hong Kong (CNN) — China has rolled out a new batch of stimulus measures to boost the nation’s ailing property market and support a weakening yuan, in its latest attempt to restore confidence in the world’s second largest economy. Cumulatively, the policy announcements — as well signs of of a pickup

By Oliver Darcy, CNN (CNN) — Summer is coming to a close, but Hollywood is still stuck in strike Hell. In the nearly four months since the Writers Guild of America, West, went on strike, television schedules have been shaken up, movies and shows have been bumped, once-glamorous red carpets have gone dark, and the

By Brian Fung, CNN (CNN) — Google went on the offensive Thursday in a closely watched antitrust case dealing with the tech giant’s digital advertising dominance, questioning the motives of the Justice Department’s top antitrust official. Google’s filing targets Jonathan Kanter, the US assistant attorney general for antitrust, and his widely reported past legal representation

By Clare Duffy, CNN New York (CNN) — The US Department of Energy said Thursday it plans to fuel the auto industry’s transition to electric vehicles with $12 billion in loans and grants. Hard on the heels of President Joe Biden’s goal to spur the sale of EVs in the United States, the Energy Department

By Chris Isidore, CNN New York (CNN) — United Auto Workers union President Shawn Fain said Thursday the union has filed an unfair labor practice complaint against General Motors and Stellantis, a new sign of how far apart the union and the automakers remain as they negotiate a new contract only two weeks before a

By Brian Fung, CNN (CNN) — US highway safety regulators are investigating an apparent hidden feature in Tesla’s Autopilot software that can reportedly disable the safety prompts Tesla gives to drivers to keep their hands on the steering wheel. The regulators are demanding information from the automaker about whether consumers could try to circumvent the

By Matt Egan, CNN (CNN) — Hurricane Idalia caused billions of dollars in damage, but the price tag won’t be nearly as high as other major hurricanes, Moody’s Analytics said Thursday. According to preliminary cost estimates from Moody’s, Hurricane Idalia caused between $12 billion and $20 billion in damage and lost output. For context, Hurricane

By Jordan Valinsky, CNN Business New York (CNN) — There’s no sign of “Messi mania” abating anytime soon. Ticket prices for this Sunday’s match between Inter Miami and Los Angeles FC are the most expensive for a Major League Soccer game ever, according to TickPick, an online marketplace. Average prices are around $690 — a

By Melissa Alonso and Devon M. Sayers, CNN (CNN) — The entire front page of the University of North Carolina at Chapel Hill’s student newspaper, The Daily Tar Heel, Wednesday displayed “text messages sent and received by UNC students,” during the hours-long lockdown on campus after one faculty member was murdered on Monday. “We sat

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates ticked down this week, ending a five-week stretch of increases, but remained above 7% amid lingering inflation. The 30-year fixed-rate mortgage averaged 7.18% in the week ending August 31, down from 7.23% the week before, according to data from Freddie Mac released Thursday. A

By Joseph Ataman, CNN Paris (CNN) — The number of price-capped products in French supermarkets will double to 5,000, finance minister Bruno Le Maire said Thursday, as data revealed another month of double-digit food inflation. Speaking to French broadcaster France2, Le Maire also criticized several multinational companies, including Unilever (UL) and PepsiCo (PEP), for not

CNN By Hanna Ziady, CNN London (CNN) — UBS expects to shed around 3,000 jobs in Switzerland to help it cut $10 billion in costs as it undertakes a sweeping overhaul following its emergency rescue of Credit Suisse earlier this year. The job cuts amount to around 8% of staff employed by the combined Swiss

By Parija Kavilanz, CNN New York (CNN) — Dollar General slashed its sales and profit outlook for the year on Thursday, blaming headwinds including weaker consumer spending on non-essential purchases and increasing theft. Dollar General shares tumbled about 14%, to about $135 a share, in midday trading Thursday. The discount store’s challenges are yet another

By Alicia Wallace, CNN Minneapolis (CNN) — US inflation may have remained elevated in July, but consumers just wanted to have some fun. New Commerce Department data released Thursday showed that consumer spending jumped 0.8% last month as shoppers shelled out for restaurants, live shows, toys, games and recreational equipment. It’s the strongest monthly spending

By Laura He, CNN Hong Kong (CNN) — Just a few months ago, Country Garden was the biggest property developer in China, with more than 3,000 developments spanning the country. Now, the company is struggling to survive in a crisis-hit industry, where many others are in the same boat. On Wednesday, Country Garden reported a

By Jordan Valinsky, CNN Business New York (CNN) — Trader Joe’s has issued another food recall — its sixth since July. Last week, the chain announced that it’s recalling its Texas Tamale Company Gourmet Black Bean Tamales because they might contain milk allergens. However, no illnesses have been reported, and the company said that “all

By Matt Egan, CNN New York (CNN) — Drivers hitting the roads this Labor Day weekend will be greeted by historically high gas prices for this time of the year. The record-high for gas prices during the week leading up to Labor Day was set in 2012 at $3.84 a gallon, according to a CNN

By Alicia Wallace, CNN Minneapolis (CNN) — Last month, the Bureau of Labor Statistics delivered a jobs report that only Baby Bear could offer: not too hot, not too cold, but just right. The US economy added 187,000 jobs in July. While that figure was well below the breakneck pace of job growth over the

By Olesya Dmitracova, CNN London (CNN) — Microsoft will allow business customers in Europe to buy its video and chat app Teams separately from its Office software, it said Thursday, a month after the European Union opened an antitrust investigation into the company’s bundling of the products. The change will take effect from October 1,

By Olesya Dmitracova and Mark Thompson, CNN London (CNN) — Consumer prices in the 20 countries that use the euro rose 5.3% on average this month compared with a year ago, preliminary estimates by Europe’s statistics office showed Thursday. That was unchanged from the annual rate of inflation in July. Core inflation, which excludes volatile