Money

By Laura He and Anna Cooban, CNN Hong Kong/London (CNN) — Global stock markets fell Wednesday after ratings agency Fitch downgraded its US credit rating, citing “a steady deterioration in standards of governance” and the American government’s growing debt burden. Japan’s benchmark Nikkei 225 (N225) index had its worst day of the year, ending down

CNN By Peter Valdes-Dapena, CNN New York (CNN) — Just three years after being discontinued in North America, the Toyota Land Cruiser is coming back — with an all-new, retro-styled design. Besides the classic looks, the new Land Cruiser will also have a more accessible price than before. It follows a trend toward more off-road

By Peter Valdes-Dapena, CNN New York (CNN) — Just three years after being discontinued in North America, the Toyota Land Cruiser is coming back — with an all-new, retro-styled design. Besides the classic looks, the new Land Cruiser will also have a more accessible price than before. It follows a trend toward more off-road capability

By Robert Ilich and Wayne Sterling, CNN (CNN) — Golf’s power structure took a sharp shift to the players Tuesday when Tiger Woods was named as the sixth player director on the powerful PGA Tour policy board. The move gives the players a one-seat advantage on the board after the controversial merger in June between

CNN, POOL, SENATE TV, FITCH RATINGS, THE WHITE HOUSE, @LHSUMMERS, MOODY’S ANALYTICS By Elisabeth Buchwald, CNN (CNN) — Fitch Ratings downgraded its US debt rating on Tuesday from the highest AAA rating to AA+, citing “a steady deterioration in standards of governance.” The downgrade comes after lawmakers negotiated up until the last minute on a

By Danielle Wiener-Bronner, CNN New York (CNN) — Starbucks’ China business is back after dropping due to Covid restrictions last year. In the three months ending on July 2, sales at Chinese locations open at least 13 months spiked 46% year-over-year, the company said Tuesday. China has been a key growth driver for Starbucks. But

By Nicole Goodkind, CNN New York (CNN) — A Congressional select committee is investigating BlackRock, the world’s largest asset manager, and MSCI, one of the biggest providers of index funds, to determine whether they are investing Americans’ savings in Chinese companies blacklisted by the US government for security and human rights issues. The Select Committee

By Parija Kavilanz, CNN New York (CNN) — Lunchables, which is making its way into school lunchrooms this fall, is testing out yet another destination for parents to find its grab-and-go snack trays for kids–the produce aisle. Kraft Heinz (KHC), which makes Lunchables, said a new offering of its popular packaged meal for the first

By Ramishah Maruf, CNN New York (CNN) — General Motors said Tuesday is recalling almost 900 vehicles worldwide because the Takata-made air bag inflator may explode, potentially striking drivers and passengers with sharp metal fragments. The vehicles included are 767 2013 models of the Chevrolet Camaro, Sonic and Volt; and the Buick Verano, in the

By Jack Guy and Junko Ogura, CNN (CNN) — The Warner Bros. Film Group has apologized after the Twitter account for its “Barbie” film sparked backlash over its embrace of memes that appeared to depict the character immersed in atomic blast imagery from Universal’s film “Oppenheimer.” The posts sparked controversy in Japan and strong public

By Brian Fung, CNN Washington (CNN) — Meta has begun to remove news content from Facebook and Instagram in Canada, the social media giant said Tuesday, in response to recently passed legislation in the country that requires tech companies to negotiate payments to news organizations for hosting their content. As a result of the move

By Chris Isidore, CNN New York (CNN) — Since Sunday, Mark Roper, a truck driver for 32 years, has been out of a job, along with 30,000 of his fellow workers at now-defunct transportation company Yellow. Roper, who turns 59 in October, said he’s not ready to retire and has already started applying for jobs

By Catherine Thorbecke, CNN New York (CNN) — Amazon’s virtual clinic is now available in all 50 states and Washington, D.C., the company announced on Tuesday. Amazon Clinic launched last November and offers customers 24/7 access to third-party health-care providers directly on Amazon’s website and mobile app. With the service, Amazon customers can receive telehealth

By Peter Valdes-Dapena, CNN Business (CNN) — The National Highway Traffic Safety Administration is investigating new Tesla Model 3 sedans and Model Y SUVs for a possible steering problem. The apparent issue could involve as many as 280,000 cars, according to a document on NHTSA’s auto safety website. The agency is aware of 12 complaints

By Alicia Wallace, CNN Minneapolis (CNN) — Bit by bit, the US labor market is settling down from the rolling boil of the past three years: The number of job openings dipped to its lowest point in more than two years, according to data from the Bureau of Labor Statistics released on Tuesday. The latest

By Jordan Valinsky, CNN New York (CNN) — CVS is laying off about 5,000 employees in a cost-cutting effort, the pharmacy chain confirmed Tuesday. Reductions will occur in “non-customer facing positions,” primarily affecting its corporate staff, according to a statement given to CNN. CVS said it is “evolving to adapt to new consumer health needs

By Jordan Valinsky, CNN New York (CNN) — Bud Light’s decline is benefiting one of its biggest rivals. Molson Coors, brewer of Miller Lite and Coors Light beers, reported Tuesday its single best quarter of revenue since its 2005 merger, as drinkers continue to shift their allegiance away from the Anheuser Busch-made beer. In a