Money

By Olesya Dmitracova, CNN London (CNN) — Shares in Europe’s largest carmaker Volkswagen and its French rival Renault dropped sharply Friday after UBS analysts recommended investors dump the stocks, citing the growing threat to their business from Chinese competitors. Volkswagen was down 4.4% in late afternoon trade in Europe and Renault 5.6% lower, while the

By Eva Rothenberg, CNN New York (CNN) — The Federal Trade Commission will allow pharmaceutical giant Amgen to move ahead with its acquisition of Horizon Therapeutics, averting a trial set for September. In a news release Friday, the US antitrust regulator said it accepted a proposal from Amgen that would allow the $27.8 billion deal

CNN By Elisabeth Buchwald, CNN New York (CNN) — Usually when the economy adds a lot of jobs in a given month the unemployment rate ticks down. That wasn’t the case in August. Despite the 187,000 new jobs added last month, the unemployment rate rose to 3.8% from 3.5% in July. That’s the biggest one-month

By Elisabeth Buchwald, CNN New York (CNN) — Usually when the economy adds a lot of jobs in a given month the unemployment rate ticks down. That wasn’t the case in August. Despite the 187,000 new jobs added last month, the unemployment rate rose to 3.8% from 3.5% in July. That’s the biggest one-month jump

By Mark Thompson, CNN London (CNN) — Indian billionaire Gautam Adani’s conglomerate has slammed what it described as “Soros-funded interests” after media outlets claimed the Adani Group had used complex and secretive offshore operations to boost its market value, citing documents obtained by a network of investigative journalists. The documents were unearthed by the non-profit

By Eva Rothenberg (CNN) — Taylor Swift’s concert film has already broken theater records more than a month ahead of its October 13 release. AMC Theaters said Friday that the singer’s Eras Tour concert movie “shattered records for single-day advance ticket sales revenue,” with $26 million of tickets sold on Thursday. It beat the previous

CNN By Eva Rothenberg (CNN) — Taylor Swift’s concert film has already broken theater records more than a month ahead of its October 13 release. AMC Theaters said Friday that the singer’s Eras Tour concert movie “shattered records for single-day advance ticket sales revenue,” with $26 million of tickets sold on Thursday. It beat the

By Olesya Dmitracova, CNN London (CNN) — Aurubis, Europe’s largest copper producer, says it has been the target of a huge theft, with damages running into hundreds of millions of euros. “During a scheduled review of metal inventories, Aurubis has identified considerable discrepancies in target inventory,” the German company said Thursday in a statement. Aurubis

By Michael Nam, CNN Business New York (CNN) — Fans of sports and other Disney offerings are going to have to do without on one of the nation’s largest cable providers. Disney pulled its programming from Charter Spectrum on Thursday night, even as the Disney-owned ESPN networks were covering major live sporting events such as

By Parija Kavilanz, CNN New York (CNN) — Walgreens Boots Alliance on Friday said that CEO Rosalind Brewer has stepped down less than three years after taking the helm at the pharmacy chain. The retailer said in a release that its board and Brewer, who was reportedly one of only two Black women to lead

By Michelle Watson, CNN (CNN) — A US District Judge has blocked an Arkansas social media age verification law that was set to go in effect Friday, according to a Thursday court filing. The act was aimed at requiring “age verification for use of social media; and to clarify liability for failure to perform age

By Alicia Wallace, CNN Minneapolis (CNN) — The US labor market continues to live its Goldilocks story with healthy job growth but at a far cooler pace than the blockbuster job gains of the past two and a half years. On Friday, the Bureau of Labor Statistics reported that the US economy added 187,000 jobs

By Radina Gigova and Katharina Krebs, CNN (CNN) — This summer’s blockbuster “Barbie” has made it to Russia despite not being officially released there due to the war in Ukraine, and it seems Barbiemania has infatuated many Russians even as the movie draws condemnation from officials. “Barbie” distributor Warner Bros., which is owned by CNN’s

By Laura He, CNN Hong Kong (CNN) — China has rolled out a new batch of stimulus measures to boost the nation’s ailing property market and support a weakening yuan, in its latest attempt to restore confidence in the world’s second largest economy. Cumulatively, the policy announcements — as well signs of of a pickup

By Oliver Darcy, CNN (CNN) — Summer is coming to a close, but Hollywood is still stuck in strike Hell. In the nearly four months since the Writers Guild of America, West, went on strike, television schedules have been shaken up, movies and shows have been bumped, once-glamorous red carpets have gone dark, and the

By Brian Fung, CNN (CNN) — Google went on the offensive Thursday in a closely watched antitrust case dealing with the tech giant’s digital advertising dominance, questioning the motives of the Justice Department’s top antitrust official. Google’s filing targets Jonathan Kanter, the US assistant attorney general for antitrust, and his widely reported past legal representation

By Clare Duffy, CNN New York (CNN) — The US Department of Energy said Thursday it plans to fuel the auto industry’s transition to electric vehicles with $12 billion in loans and grants. Hard on the heels of President Joe Biden’s goal to spur the sale of EVs in the United States, the Energy Department

By Chris Isidore, CNN New York (CNN) — United Auto Workers union President Shawn Fain said Thursday the union has filed an unfair labor practice complaint against General Motors and Stellantis, a new sign of how far apart the union and the automakers remain as they negotiate a new contract only two weeks before a

By Brian Fung, CNN (CNN) — US highway safety regulators are investigating an apparent hidden feature in Tesla’s Autopilot software that can reportedly disable the safety prompts Tesla gives to drivers to keep their hands on the steering wheel. The regulators are demanding information from the automaker about whether consumers could try to circumvent the

By Matt Egan, CNN (CNN) — Hurricane Idalia caused billions of dollars in damage, but the price tag won’t be nearly as high as other major hurricanes, Moody’s Analytics said Thursday. According to preliminary cost estimates from Moody’s, Hurricane Idalia caused between $12 billion and $20 billion in damage and lost output. For context, Hurricane