Money

By Ramishah Maruf and Nathaniel Meyersohn, CNN New York (CNN) — Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second-quarter earnings Thursday. “Simply put, we must align our cost structure with our new operating model and fundamentally change the way

CNN By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s social media fortune is shrinking. The value of Trump’s stake in the corporate owner of Truth Social has dropped by $900 million since Vice President Kamala Harris entered the race for the White House on July 21. Trump Media & Technology Group’s

By Krystal Hur, CNN New York (CNN) — Stocks tumbled Thursday after fresh data stoked fears that the US economy is weakening as interest rates stay at a 23-year high. The Dow slid by 496 points, or 1.2%, after plunging more than 700 points earlier in the session. The S&P 500 lost 1.4% and the

By Oliver Darcy, CNN New York (CNN) — Don Lemon on Thursday filed a lawsuit against Elon Musk and X after the erratic billionaire canceled a planned partnership that would have seen the former CNN anchor create a talk show on the embattled social media platform. Musk abruptly canceled the well-publicized deal with Lemon earlier this year

By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s social media fortune is shrinking. The value of Trump’s stake in the corporate owner of Truth Social has dropped by $900 million since Vice President Kamala Harris entered the race for the White House on July 21. Trump Media & Technology Group’s share

By Pete Muntean and Samantha Waldenberg, CNN (CNN) — Airlines would no longer be allowed to charge parents extra fees for their kids to be seated next to them under a new rule proposed by the Biden administration. White House officials say their “fee-free family seating” proposal could potentially save parents up to $200 per

By Alicia Wallace, CNN (CNN) — The pandemic threw the US job market into chaos, but four years later, things finally seem to be back to normal. Monthly job gains have slowed but remain stable, labor demand and supply have come more into sync, there hasn’t been a rash of layoffs and the overall economy

By Hanna Ziady, CNN London (CNN) — The Bank of England cut interest rates Thursday for the first time since the start of the pandemic, providing some relief to households squeezed by the highest borrowing costs in 16 years. The decision takes the benchmark interest rate in the United Kingdom to 5% from 5.25%, where

By Elisabeth Buchwald, CNN New York (CNN) — People are getting impatient with the Federal Reserve. For the past year, the Fed has kept interest rates at their highest level in more than two decades, making it more expensive to get a mortgage, borrow money and pay off debt. Now the central bank is mulling

By Erika Tulfo, CNN (CNN) — Tucked away in the mountainous highlands of Chiapas in southern Mexico, around 150 coffee farmers on the Edelmann family farm work with their hands for hours on end. The shade of tree canopies is the only barrier between their bodies and the summer sun. Tomas Edelmann, a fourth-generation coffee

By Hadas Gold, CNN New York (CNN) — London police are looking into allegations that recently installed Washington Post publisher Will Lewis oversaw the intentional mass deletion of emails more than a decade ago while he was tasked with cleaning up a phone hacking scandal that roiled Rupert Murdoch’s UK tabloids. In a piece published Wednesday in the Guardian,

By Ramishah Maruf, CNN New York (CNN) — Some Instagram posters got a shocking notification from the app Wednesday: Certain photos have been permanently deleted from the app’s Stories archives, unable to be recovered. “This story is no longer available,” some users saw on certain Stories. “Due to a technical issue, this story is no

By Erika Tulfo, CNN (CNN) — It’s a summer for single-digit dollar deals as IHOP and Denny’s join other big-name food chains in offering value menu options. The two companies are the latest restaurants trying to appeal to consumers being more selective with their dollars in the wake of price increases. IHOP announced this week

By Jeanne Sahadi, CNN New York (CNN) — The Federal Reserve on Wednesday did not lower its key interest rate, which has been sitting at a 23-year high for the last 12 months. But officials continue to signal that the central bank may do so soon — most likely in September. And the market expects

CNN By Jeanne Sahadi, CNN New York (CNN) — The Federal Reserve on Wednesday did not lower its key interest rate, which has been sitting at a 23-year high for the last 12 months. But officials continue to signal that the central bank may do so soon — most likely in September. And the market

By Matt Egan, CNN New York (CNN) — Millions of sports fans and concertgoers are being duped by a deceptive pricing scheme at StubHub that hides the true cost of tickets until the very last moment, according to a lawsuit filed Wednesday by Washington, DC Attorney General Brian Schwalb. The lawsuit accuses StubHub of deploying

By Anna Cooban, CNN London (CNN) — Entertaining the King of England is an expensive business, France is finding out. A sumptuous lobster dinner held to welcome Britain’s King Charles III to Paris last September cost the French president’s office nearly €475,000 ($515,000), according to accounts published on Monday by France’s public auditor. The lavish

By Chris Isidore, CNN New York (CNN) — The CEO of Delta Air Lines lashed out at cyber security firm CrowdStrike and software provider Microsoft for the computer problems that resulted in a five-day service meltdown he said cost the airline $500 million. “They haven’t offered us anything. Free consulting advice to help us,” said

By Chris Isidore, CNN New York (CNN) — Boeing named a new CEO Wednesday after reporting a core operating loss of $1.4 billion in the second quarter — more than triple the loss from a year ago — as increased scrutiny of the safety and quality of its planes kept the troubled company from making