Money

By Jordan Valinsky, CNN Business Tyson Foods is the latest company closing its Chicago-area offices, joining Boeing, Caterpillar and Citadel among others. The poultry producer said Wednesday that it’s bringing together its corporate employees at its global headquarters in Arkansas, resulting in the closure of three offices, including downtown Chicago, Downers Grove, Illinois, and Dakota

By Alicia Wallace, CNN Business When the Bureau of Labor Statistics releases its latest monthly jobs report on Friday, all eyes will be on whether the labor market is showing signs of loosening up — one of many crucial factors that will help the Federal Reserve determine its next steps in its fight against decades-high

By Jordan Valinsky, CNN Business Peloton is undergoing another round of layoffs — its fourth this year — with about 500 jobs being eliminated, as the troubled exercise company looks to cut costs to improve its bottom line. The company said in a statement that a “key aspect of Peloton’s transformation journey is optimizing efficiencies

By Nicole Goodkind, CNN Business Investors are tightening their neck braces as US stocks soar upwards, plummet back down and then do it all over. Stock market volatility is at its bumpiest level since July. The whiplash-inducing ride comes as conflicting data paints a cloudy picture about the state of the US economy. Investors have

By Chris Isidore and Matt Egan, CNN Business Even before Wednesday’s action by OPEC+ to cut oil production, US gas prices were on their way up. More price increases at the pump likely lay ahead. Gas prices rose nearly 3 cents a gallon in AAA’s daily reading Wednesday, to $3.83 a gallon, the biggest one-day

By Paul R. La Monica, CNN Business Maybe that October market rally has some legs after all? Stocks were mostly unchanged Wednesday, even as a fresh batch of economic data revealed continued strength in the job market and America’s services sector. That’s led to new worries that the Federal Reserve’s aggressive rate hikes, meant to

By Hanna Ziady, CNN Business OPEC+ said Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the pandemic, in a move that threatens to push gasoline prices higher just weeks before US midterm elections. The group of major oil producers, which includes Saudi Arabia

By Parija Kavilanz, CNN Business REI has quit Black Friday, forever. For the past seven years, the retailer has closed its doors on the day after Thanksgiving to give its employees a day off. The Seattle-based seller of outdoor clothing and gear said October 4 that starting this year, every part of its business —

By Nicole Goodkind, CNN Business Persistently high inflation, the Federal Reserve’s tightening policy and record-breaking US debt have wreaked havoc on US Treasuries this year. Now, economists are noting a fundamental and worrisome imbalance in the bond market. There are trillions of dollars worth of bonds for sale, they say, but a growing scarcity of

By Laura He and Emiko Jozuka, CNN Business A quarter of a century ago, a major financial crisis ripped through Asia, shaking its economies to the core. Now, the ghost of 1997 is haunting the region again. Currencies and stock markets in Asia’s biggest economies have plunged to lows not seen in decades, as a