Money

By Nathaniel Meyersohn, CNN New York (CNN) — Veteran department-store chain Macy’s is laying off about 3.5% of its workforce, or roughly 2,350 employees, and closing five stores as it continues to shrink its massive retail business for the online-shopping era. “As we prepare to deploy a new strategy to meet the needs of an

By Samantha Murphy Kelly, CNN (CNN) — Meta is getting more serious about securing its place in the growing AI arms race. CEO Mark Zuckerberg announced on Thursday that Meta plans to build its own artificial general intelligence, known as AGI, which is artificial intelligence that meets or surpasses human intelligence in almost all areas.

By Ramishah Maruf, CNN New York (CNN) — What started as an April Fool’s Day joke ended up as a real-life product popular enough to sell out in a day. On Wednesday, Burt’s Bees and Hidden Valley Ranch announced an unusual collaboration — a set of lip balms that taste like a basket of chicken

CNN, WBNS, NISSAN, GENERAL MOTORS, RECURRENT AUTO By Peter Valdes-Dapena, CNN (CNN) — Hertz recently announced it was selling 20,000 electric cars out of its fleet, and replacing them with gasoline vehicles. One reason the company gave was that drivers kept crashing the cars. Hertz CEO Stephen Scherr noted that the costs of repairs of

By Parija Kavilanz, CNN New York (CNN) — Birkenstock sandals might be as pricey as ever, and the folksy footwear are as popular with shoppers as ever, too. But despite all that, the company says it still expects smaller profits in the next year. The German shoemaker, which became a publicly-traded company in October, reported

By Samantha Murphy Kelly, CNN (CNN) — Google announced on Thursday two new AI tools that it says will make searching for things online “radically more helpful.” Mobile users accessing Google on some Android phones will soon be able to circle or highlight items that appear on their smartphone screens to populate more information, and

By Nathaniel Meyersohn, CNN New York (CNN) — The clunky old cable box doesn’t make sense anymore. Big, ugly, and heavy, they seem to have about as much place working with a modern TV as a DVD player. Cable companies are trying to catch up with the times, though, and now want you to replace

By Brian Fung, CNN (CNN) — Google CEO Sundar Pichai warned employees to expect additional layoffs in the months to come as the tech giant reorients itself toward artificial intelligence “and beyond.” In a companywide memo obtained by CNN, Pichai said Wednesday that the job cuts — which have already affected hundreds of Google employees in the

By Anna Bahney, CNN Washington, DC (CNN) — After moving higher the past two weeks, mortgage rates fell this week, dropping to the their lowest level since May 2023. The 30-year fixed-rate mortgage averaged 6.60% in the week ending January 18, down from 6.66% the previous week, according to data from Freddie Mac released Thursday. A year

By Chris Isidore, CNN New York (CNN) — Spirit Airlines could end up in bankruptcy and be forced out of business because of a federal court decision to block a proposed sale to JetBlue Airways, according to a note from an airline analyst. Unlike many airline bankruptcies, in which the airline in bankruptcy court either

By Alicia Wallace, CNN New York (CNN) — The number of Americans making first-time claims for jobless benefits dropped last week to a level not seen since the fall of 2022, while CEO exits set a new high last year, according to fresh economic data released Thursday. There were an estimated 187,000 initial claims for

By Jordan Valinsky, CNN New York (CNN) — Coca Cola-owned BodyArmor is unleashing its newest beverage as part of its years-long effort to overthrow Pepsi’s Gatorade from its position as the top-selling sports drink brand. Rolling out to retailers this month is BodyArmor Zero Sugar, a sugar-free version of its popular flavored sports drink, taking

By Anna Bahney, CNN Washington, DC (CNN) — The annual pace of new home construction pulled back last month after soaring in November, despite a historic shortage of housing inventory and falling mortgage rates. Housing starts came down by 4.3% in December compared to the previous month, according to data released Thursday by the Census

By Jordan Valinsky, CNN New York (CNN) — 3M has started sending payments as part of its previously announced $6 billion settlement to resolve almost 300,000 lawsuits alleging that the manufacturing company supplied faulty combat earplugs to the military that resulted in significant injuries, such as hearing loss. Earlier this week, the company announced that

By Hanna Ziady, CNN London (CNN) — Human beings will continue to decide “what should happen in the world” regardless of the rise of artificial intelligence, OpenAI’s Sam Altmann said Thursday at the World Economic Forum in Switzerland. The CEO of the company behind ChatGPT said AI was “good at some things but not good

By Jordan Valinsky, CNN New York (CNN) — Subway’s footlong sandwiches are finally getting sides to match – and the company is hopeful the new menu items will aid in its turnaround efforts. The chain is making a big update (literally) to its menu with the addition of three 12-inch snacks consisting of a chocolate

By Pete Muntean, CNN (CNN) — Boeing says its CEO told workers of Spirit AeroSystems — its subcontractor that builds the 737 Max 9 fuselage — that “we’re going to learn from” this month’s blowout on Alaska Airlines flight 1282. Boeing says CEO Dave Calhoun addressed 200 Spirit AeroSystems employees as part of a town

By Peter Valdes-Dapena, CNN (CNN) — Hertz recently announced it was selling 20,000 electric cars out of its fleet, and replacing them with gasoline vehicles. One reason the company gave was that drivers kept crashing the cars. Hertz CEO Stephen Scherr noted that the costs of repairs of an electric vehicle are also much higher.

By Diksha Madhok, CNN New Delhi (CNN) — Boeing is getting some respite from what has been a month of terrible news. India’s newest airline is purchasing 150 Boeing 737 Max aircraft, in the first major order the troubled planemaker has announced since the dramatic Alaska Airlines incident in which part of the fuselage of a