Money

By Frank Pallotta, CNN Business After much anticipation, “The Lord of the Rings: The Rings of Power” finally debuts on Amazon Prime Video on Friday. It represents one of the biggest bets in streaming history. The series, which takes place thousands of years before the events of J.R.R. Tolkien’s “Lord of the Rings” trilogy, is

By Anna Cooban, CNN Business Workers in the United Kingdom have had enough of falling living standards. Rail workers, journalists, lawyers, and postal workers have gone on strike in recent weeks to demand higher pay as inflation soars to its highest level in decades. At least 155,000 workers are currently on strike, including staff at

By Danielle Wiener-Bronner, CNN Business California lawmakers want more control over how fast food chains treat workers. Restaurants, including McDonald’s, are fighting back. Earlier this week, the state’s legislature passed AB 257, a bill that would create a fast food council to “establish sectorwide minimum standards on wages, working hours, and other working conditions,” for

By Oliver Darcy, CNN Business Some of the biggest stars at Fox News have been deposed in recent days as a voting technology company presses forward in its $1.6 billion lawsuit against the right-wing talk channel. Lawyers for Dominion Voting Systems notified Fox News last week that it would be deposing host Tucker Carlson Wednesday,

By Nathaniel Meyersohn, CNN Business Few of us want summer to end, but there’s some good news coming this winter holiday: you’ll find more discounts than in previous holiday shopping seasons. Executives at Best Buy, Ulta, Gap and other top chains have said in recent weeks that they are expecting a shopping season packed with

Martha C. White for CNN Business The private sector added 132,000 jobs in August, an indication that the white-hot pace of hiring could be slowing after months of strong job growth. The August number reported by payroll processing giant ADP is far below economists’ expectations of 225,000 positions added. “We could be at an inflection

By Jordan Valinsky and Nathaniel Meyersohn, CNN Bed Bath & Beyond is in deep turmoil. The company is trying to rescue itself and stay out of bankruptcy by shrinking. The chain said Wednesday that it will lay off approximately 20% of corporate employees, close around 150 stores and slash several of its in-house home goods’

By Nicole Goodkind, CNN Business Rising mortgage rates are taking a toll on the US housing market. But those hoping for prices to drop probably won’t catch a break anytime soon. What’s happening: Home prices were up 18% in June compared to a year ago, with Tampa, Miami and Dallas reporting the highest annual gains,

By Anna Cooban, CNN Business Russia has temporarily halted natural gas deliveries to Europe through a vital pipeline and cut off all supplies to a French utility, deepening an energy crisis that has sent inflation in the region to a record high of 9%. Russian state energy giant Gazprom cut all deliveries through the Nord

By Laura He, CNN Business Chinese markets fell on Wednesday as global investors continue to deal with the aftermath of Federal Reserve chair Jerome Powell’s hawkish speech at Jackson Hole last week, and the alarming spread of Covid in China. Investor mood was also hit by new official data from China that showed factory activity