Money Archives

Former Twitter employees get severance offer after months of waiting. Many are unhappy with it

January 9, 2023 5:03 PM CNN Newsource

By Clare Duffy, CNN After months of uncertainty and feeling left in the dark, many former Twitter employees impacted by a mass layoff in early November began receiving their severance offers over the weekend. But some are frustrated by the offer and the conditions attached to it. The severance offer promises one month’s pay in

A US federal agency is considering a ban on gas stoves

January 9, 2023 4:35 PM CNN Newsource

By Ramishah Maruf, CNN A federal agency is considering a ban on gas stoves, a source of indoor pollution linked to childhood asthma. Richard Trumka Jr., a US Consumer Product Safety commissioner, set off a firestorm this week by saying in an interview with Bloomberg that gas stoves posed a “hidden hazard” and suggested the

US consumers increased their borrowing by $28 billion in November

January 9, 2023 3:32 PM CNN Newsource

By Alicia Wallace, CNN US consumers’ credit-hungry approach to spending continued in November, with borrowing rising by nearly $28 billion, according to Federal Reserve data released Monday. The monthly increase, which was driven by higher rates of revolving credit, was below the $29.12 billion jump seen in October but extends a historic stretch of reliance

Key takeaways from the New York nurses strike

January 9, 2023 1:43 PM CNN Newsource

By Chris Isidore, CNN The 7,000 nurses who went on strike in New York Monday say the 19% pay hike that hospital management offered them was never the main issue. “We are not out here for wages. We are out here because we want the patients’ safety,” said Lorena Vivas, a nurse at Mount Sinai

Why is Wall Street cheery all of a sudden?

January 9, 2023 12:53 PM CNN Newsource

By Paul R. La Monica, CNN It’s only early January, but so far in 2023 the pendulum on Wall Street has swung (to paraphrase Billy Joel) from sadness to euphoria. Stocks are off to a solid start following last year’s dismal performance. Even though the Dow fell more than 110 points, or 0.3%, to close

Seattle public schools sue social media companies for allegedly harming students’ mental health

January 9, 2023 12:14 PM CNN Newsource

By Samantha Murphy Kelly, CNN Business Seattle’s public school system on Friday filed a lawsuit against several Big Tech companies alleging their platforms have a negative impact on students’ mental health and claiming that has impeded the ability of its schools “to fulfill its educational mission.” The lawsuit was filed against the parent companies of

Federal regulators investigating Musk Tesla ‘Full Self Driving’ tweet

January 9, 2023 11:47 AM CNN Newsource

By Pete Muntean Federal regulators want to know what Elon Musk meant in a Tweet about disabling driver alerts on Tesla’s “Full Self Driving” driver assist system. The National Highway Traffic Safety Administration confirmed Monday that it is in contact with Tesla about Musk’s tweet in which he “agreed” that Tesla drivers should be allowed

Virgin Orbit’s LauncherOne rocket suffers failure on first launch attempt from the UK

January 9, 2023 11:38 AM CNN Newsource

By Anna Cooban, Jackie Wattles, Tom Foreman, and Ross Levitt CNN Virgin Orbit’s modified Boeing 747 jet — dubbed “Cosmic Girl” — took off Monday from Newquay in England’s Cornwall county, 245 miles west of London, in a first launch for the country from UK soil. But nearly two hours after the plane left the

McDonald’s ex-CEO will pay $400,000 for allegedly misleading investors about his firing

January 9, 2023 10:50 AM CNN Newsource

By Parija Kavilanz, CNN Disgraced former McDonald’s CEO Steve Easterbrook will pay $400,000 to settle charges that he allegedly misled investors about the circumstances of his 2019 firing following a relationship with an employee. According to the Securities and Exchange Commission, McDonald’s fired Easterbrook for “engaging in an inappropriate personal relationship with a McDonald’s employee

Deere gives farmers long-sought ability to repair their own tractors

January 9, 2023 10:47 AM CNN Newsource

By Brian Fung, CNN US farmers will have the right to repair tractors and other agricultural equipment from John Deere without having to use the manufacturer’s own parts and facilities, under an agreement the company signed Sunday with farm industry representatives. The agreement marks a major victory for farmer and consumer advocacy groups, who have

Silicon Valley layoffs go from bad to worse

January 9, 2023 10:37 AM CNN Newsource

By Catherine Thorbecke, CNN Shortly before Thanksgiving, Amazon CEO Andy Jassy confirmed rumors that layoffs had begun in multiple departments at the e-commerce giant and said it would review staffing needs into the new year. On Wednesday, Jassy provided a sobering update on that review: Amazon is cutting more than 18,000 jobs, nearly double the

New York nurses strike ends after tentative deal reached with hospitals

January 9, 2023 10:06 AM CNN

By Chris Boyette and Artemis Moshtaghian, CNN A nurses strike at two private New York City hospital systems has come to an end after 7,000 nurses spent three days on the picket line. The New York State Nurses Association union reached tentative deals with Mount Sinai Health System and Montefiore Health System, which operates three

From color-changing cars to self-driving strollers, here’s some of the coolest tech from CES 2023

January 9, 2023 7:48 AM CNN Newsource

By Samantha Murphy Kelly and Jennifer Korn, CNN A long list of companies once again showed off an assortment of cutting edge technology and oddball gadgets at the Consumer Electronics Show in Las Vegas last week. There were new twists on foldable devices, cars that changed colors and smart ovens that live streamed dinners. There

From color-changing cars to self-driving strollers, here’s some of the coolest tech from CES 2023

January 9, 2023 7:48 AM CNN

By Samantha Murphy Kelly and Jennifer Korn, CNN A long list of companies once again showed off an assortment of cutting edge technology and oddball gadgets at the Consumer Electronics Show in Las Vegas last week. There were new twists on foldable devices, cars that changed colors and smart ovens that live streamed dinners. There

From color-changing cars to self-driving strollers, here’s some of the coolest tech from CES 2023

January 9, 2023 7:48 AM CNN

By Samantha Murphy Kelly and Jennifer Korn, CNN A long list of companies once again showed off an assortment of cutting edge technology and oddball gadgets at the Consumer Electronics Show in Las Vegas last week. There were new twists on foldable devices, cars that changed colors and smart ovens that live streamed dinners. There

Workers in China clash with police after reported layoffs at Covid test maker

January 9, 2023 7:22 AM CNN Newsource

By Wayne Chang and Michelle Toh, CNN Workers at a Chinese factory making Covid-19 test kits clashed with police over the weekend after their managers apparently told them to go on vacation early, a move that effectively terminated their employment without notice, according to social media posts and videos reviewed by CNN. Online footage showed

Vince McMahon returns to WWE as a board member

January 9, 2023 7:11 AM CNN Newsource

By Jordan Valinsky, CNN Former World Wrestling Entertainment chief executive Vince McMahon is returning to the company as a board member, after a six-month hiatus following a hush money and sexual harassment scandal. WWE on Friday confirmed McMahon’s return, also announcing in a press release that it “intends to undertake a review of its strategic

Bonds are back, but for how long?

January 9, 2023 7:09 AM CNN Newsource

By Nicole Goodkind, CNN Business Stocks soared on Friday to their best day in more than a month. The Dow gained 700 points and the S&P 500 and Nasdaq rose by 2.3% and 2.6% respectively, as traders bet that a slowdown in wage growth could mean that inflation may finally be cooling off. But the

Goldman Sachs will lay off up to 3,200 workers this week

January 9, 2023 6:01 AM CNN Newsource

By Julia Horowitz, CNN Goldman Sachs will lay off as many as 3,200 employees this week as an uncertain economic and market climate pushes the bank to hunt for cost savings, according to a person familiar with the matter. More than a third of the job cuts are expected to be from the firm’s trading

UK nurses say strikes still on after ‘disappointing’ talks with government

January 9, 2023 5:56 AM CNN Newsource

By Hanna Ziady, CNN British nurses and ambulance drivers will press on with more strikes in a dispute over pay after talks with the government failed to produce a breakthrough on Monday. The Royal College of Nursing (RCN), which represents close to half a million nurses, midwives and health care assistants described the talks as