Money

By Samantha Delouya, CNN (CNN) — Supply chain management company Flexport said it plans to lay off 20% of its workforce on Friday, just one month after a chaotic CEO shakeup that played out, in part, on social media. In a memo to employees, Ryan Petersen, Flexport’s CEO and its founder in 2013, said the

By Samantha Delouya, CNN (CNN) — Dollar General has brought back its former chief executive in an attempt to revive its struggling business. On Thursday, the discount chain announced that it had reinstated Todd Vasos as CEO, replacing Jeff Owen. Vasos had previously served in the role for seven years before he retired in 2022.

By Jennifer Korn, CNN New York (CNN) — Qualcomm, one of the largest microchip manufacturers globally, is scaling back its workforce. The San Diego, California-based company will be laying off about 1258 roles in California, according to a filing with the California Employment Development Department. Impacted employees include those based out of San Diego and

By Jordan Valinsky, CNN Business New York (CNN) — Adam Aron, the CEO of AMC Entertainment, admitted Thursday that he was a “victim of an elaborate criminal extortion” plot. He made the announcement on X, formerly Twitter, writing that he fell victim to a “third party who was unknown to me related to false allegations

By Brian Fung, CNN (CNN) — A Montana federal judge on Thursday tore into a contested state law that bans TikTok from all personal devices, saying in a hearing that the legislation appears driven by “paternalistic” views of social media users and suggesting lawmakers could have taken many steps short of an attempted ban to

By Catherine Thorbecke, CNN New York (CNN) — A billboard truck drove near Harvard’s campus Wednesday displaying the names and photos of Harvard students whose organizations signed a statement blaming solely Israel for the deadly attacks by Hamas. The “doxxing truck” appeared days after the Harvard Palestine Solidarity Groups, a coalition of Harvard student groups,

By Matt Egan, CNN New York (CNN) — Wall Street CEO Marc Rowan is calling for the leaders of the University of Pennsylvania to resign and donors to close their checkbooks over an alleged failure to condemn antisemitism and hate. Rowan, the CEO of private equity giant Apollo Global Management, wrote in an op-ed posted

By Jennifer Korn, CNN New York (CNN) — Artificial intelligence could soon be writing more company emails in Microsoft Outlook, as the company expands its rollout of AI tools for corporate users. The Microsoft 365 Copilot tool – “your everyday AI companion,” as the company bills it – will help users write their emails to

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates climbed for the fifth consecutive week Thursday, following recent jobs and inflation reports that surged past forecasts and set expectations that decades-high interest rates could stay higher for longer. The persistently higher mortgage rates are putting added strain on today’s would-be homebuyers who are also

CNN Opinion by Kara Alaimo (CNN) — With social networks flooded with content about atrocities happening in Israel and Gaza, schools around the world are warning parents about what their children might be seeing on social media. Some are calling for parents to remove social media apps, including Instagram and TikTok, from children’s phones, so they don’t

By Brian Fung, CNN (CNN) — EU officials warned TikTok Thursday about “illegal content and disinformation” on its platform linked to the war between Hamas and Israel, calling for CEO Shou Zi Chew to respond within 24 hours. In a letter to Chew, European Commissioner Thierry Breton said failure to comply with European Union laws

By Danielle Wiener-Bronner, CNN New York (CNN) — Grocery price increases continued to moderate in September, with prices ticking up just 0.1% last month, according to seasonally adjusted data from the Bureau of Labor Statistics released on Thursday. In August, groceries had grown 0.2% pricier. In the year through September, not adjusted for seasonal swings,

By Allison Morrow, CNN New York (CNN) — Caroline Ellison testified Thursday in Sam Bankman-Fried’s federal fraud trial that in the final days of Alameda Research, she admitted wrongdoing to her employees in an all-hands meeting, telling them the decision to borrow funds from customers of their sister firm, FTX, was “Sam’s, I guess.” “I

By Alicia Wallace, CNN Minneapolis (CNN) — Inflation remained elevated in September as gas and rents kept prices high and heaped more pressure on consumers, according to new data released Thursday by the Bureau of Labor Statistics. However, the latest Consumer Price Index also showed that certain inflation gauges are the lowest they’ve been in

By Anna Cooban, CNN London (CNN) — Russia has reimposed some of the capital controls it introduced in the wake of its full-scale invasion of Ukraine in a new attempt to prop up the ruble as the cost of war weighs heavily on the economy. The ailing currency gained 3.4% Thursday to trade at 96

By Peter Valdes-Dapena, CNN Santa Monica, California (CNN) — It was a cloudy day in Los Angeles when I went out in search of a traffic jam, something that’s not hard to find there. I was looking for slow traffic because I wanted to try out a new technology from Mercedes-Benz that only works in

By Nathaniel Meyersohn, CNN New York (CNN) — Tesla has beaten back previous efforts by workers to unionize – but the United Auto Workers hopes a successful strike against Ford, General Motors and Stellantis could help it organize at Tesla. UAW membership has declined in recent decades, and the auto industry is moving to electric

By Tanushree Pandey and Michelle Toh New Delhi/Hong Kong (CNN) — An executive at Vivo, one of China’s top smartphone makers, has been arrested in India in connection with a money laundering probe, raising fears of a renewed crackdown on Chinese businesses in the country. Guangwen Kuang, the head of administration at Vivo India, was

By Alex Leeds Matthews and Rachel Wilson, CNN (CNN) — Target is closing nine stores in four metropolitan areas: the San Francisco Bay Area, Portland, Seattle, and New York. The big box retailer cited in its announcement organized retail crime and theft creating an “unsustainable business performance.” But Target is not alone, and it’s not just theft making it