Money

By Elisabeth Buchwald, CNN New York (CNN) — According to private payroll processor ADP, US employers hired 455,000 new workers in June. Meanwhile, in its monthly tally, the Bureau of Labor Statistics said 105,000 new workers were hired. But for August, the two arrived at similar estimates — ADP reported on Wednesday that 177,000 new

By Berry Wang and Michelle Toh, CNN Hong Kong (CNN) — Luckin Coffee has joined forces with Kweichow Moutai, the maker of China’s fiery national liquor baijiu, for an unusual offering: alcoholic lattes. The popular Chinese coffee chain rolled out the so-called “sauce-flavored latte” with a jolt of liquor for 38 yuan ($5.20) on Monday.

By Laura He, CNN Hong Kong (CNN) — Investors in embattled Chinese property giant Country Garden are breathing a collective sigh of relief Monday, after it reportedly won approval from local creditors to delay repayments on a maturing bond, averting the threat of a default — at least for a few days. It was the

By Ramishah Maruf, CNN New York (CNN) — Labor Day is here, which means summer is winding down and schools are reopening. The first Monday in September also commemorates the American labor movement and contributions workers have made to the US economy. Since it’s a bank holiday, many Americans will be traveling or hosting their

By Eva Rothenberg, CNN (CNN) — The economic relationship between the US and China is mutually beneficial and opening lines of communication is key to maintaining it, US Commerce Secretary Gina Raimondo told CNN’s Dana Bash on Sunday. Raimondo concluded a four-day visit to the world’s second-largest economic power last week. She is the fourth

By Anna Bahney, CNN Washington, DC (CNN) — Housing is less affordable than it has been in about four decades. But buying or renting a home might be even less affordable now if it weren’t for the continuing impact of remote and hybrid workers that resulted from the pandemic, according to a recent study by

By Heather Law and Heather Chen, CNN (CNN) — Billionaire businessman Terry Gou has resigned from the board of directors of Foxconn, the world’s largest electronics manufacturer, days after announcing his bid for Taiwan’s presidency. In a statement to CNN, Foxconn’s parent company Hon Hai Technology Group confirmed Gou’s resignation and said it “would not

By Eva Rothenberg, CNN New York (CNN) — SAG-AFTRA’s National Board is unanimously seeking permission from union members to strike against a number of video game makers ahead of negotiations resuming later this month. The union’s initial contract with major video game companies, the Interactive Media Agreement, was extended past its initial expiration date last

Natasha Chen, Jack Hannah, and Conor Powell, CNN (CNN) — The Hawaii Tourism Authority announced Friday it approved more than $2 million to help rebuild Hawaii’s struggling tourism industry. The agency said West Maui accounts for 15% of Hawaii’s total tourism revenue, and since the deadly wildfires, the state has lost roughly $9 million per

By Samantha Delouya, CNN Los Angeles (CNN) — On what is usually the first Friday of every month, the US Bureau of Labor Statistics releases its Employment Situation Summary, or monthly jobs report, formally known as the “nonfarm payroll” report. It’s an economic snapshot that provides crucial information about job losses and gains and the

By Samantha Delouya, CNN (CNN) — It’s a tale of two retailers. One reported strong sales on Thursday, while the other warned it may experience a sales decline for the year. Earnings reports this week from two companies — the higher-end Lululemon and the discount chain Dollar General — show how inflation and the post-pandemic

By Bryan Mena, CNN Washington, DC (CNN) — The long-robust US job market is continuing to cool, according to several economic indicators released this week. That marks some progress for the Federal Reserve, which is looking for weaker job creation and an overall slowdown in demand in order to defeat inflation. Specifically, Fed Chair Jerome

By Parija Kavilanz, CNN Business New York (CNN) — Parents aren’t alone in feeling the extra pinch in the wallet this year in paying for back-to-school necessities. Teachers, too, are digging deeper to meet their classroom needs out of pocket. Sarah Adkins, a third grader teacher with Pennoyer School District 79, a Northwest Chicago surburban

By Danielle Wiener-Bronner, CNN New York (CNN) — If you stroll through the real or virtual aisles of a Japanese store, you might find Kit Kats in flavors like salt lemon, caramel pudding, whole grain biscuit, melon, and milk tea. Good luck finding those at Target or Walmart in the US. Kit Kat aficionados know

By Brian Fung and Clare Duffy, CNN (CNN) — X, the social media platform formerly known as Twitter, said this week it may collect biometric and employment information from its users — expanding the range of personal information that account-holders may be exposing to the site. The disclosures came in an update to the company’s

By Greg Wallace, CNN (CNN) — As an increasing number of passengers are acting out on crowded aircraft this summer, Transportation Secretary Pete Buttigieg has an admonition for passengers. “If you’re onboard an airplane, do not get in the way of the flight crew,” he said Friday before boarding a flight at O’Hare International Airport

By Allison Morrow, CNN New York (CNN) — Robinhood Markets has repurchased $605 million worth of shares that previously belonged to Sam Bankman-Fried, the disgraced crypto mogul, capping a contentious ownership dispute. Robinhood, which runs the popular commission-free stock trading app, said in regulatory filing Friday that it bought more than 55 million of its

By Olesya Dmitracova, CNN London (CNN) — Shares in Europe’s largest carmaker Volkswagen and its French rival Renault dropped sharply Friday after UBS analysts recommended investors dump the stocks, citing the growing threat to their business from Chinese competitors. Volkswagen was down 4.4% in late afternoon trade in Europe and Renault 5.6% lower, while the

By Eva Rothenberg, CNN New York (CNN) — The Federal Trade Commission will allow pharmaceutical giant Amgen to move ahead with its acquisition of Horizon Therapeutics, averting a trial set for September. In a news release Friday, the US antitrust regulator said it accepted a proposal from Amgen that would allow the $27.8 billion deal