Money

CNN By Chris Isidore and Allison Morrow, CNN New York (CNN) — August 2016 was, at the time, the planet’s hottest month on record. In Freehold, New Jersey, where Jim Klenk was driving his usual route for UPS, midday temperatures were hitting highs in the 80s and 90s. During one of those punishing late-summer days,

By Athena Jones and Brian Fung, CNN (CNN) — Two new bills meant to protect children’s mental health online by changing the way they are served content on social media and by limiting companies’ use of their data will be introduced in the New York state legislature, state and city leaders said Wednesday. New York

By Bryan Mena, CNN Washington, DC (CNN) — Most Federal Reserve officials said last month that they expect one more rate hike, according to minutes from their September policy meeting released Wednesday. Some officials said that how fast inflation cools in the coming months will determine how long rates remain elevated. “A majority of participants

By Alicia Wallace, CNN Minneapolis (CNN) — It’s October, and for millions of Americans, a familiar interloper has slid its way back into that pile of monthly bills: The federal student loan payment, which is resuming after a three-year reprieve. Economists say the loan payments alone aren’t expected to dent the economy. Instead, they’re more

By Anna Cooban, CNN London (CNN) — A pipeline ferrying natural gas between Finland and Estonia has become the focus of an international investigation into a potential act of sabotage, raising fresh concerns about the security of Europe’s energy infrastructure a year after explosions shut down the vital Nord Stream 1 pipeline. Gasgrid, Finland’s gas

By Parija Kavilanz, CNN New York (CNN) — A group of menstrual product makers announced on Wednesday that they have banded together to form “The Tampon Tax Back Coalition,” which they say is an effort to reimburse consumers the “unjust tax” on feminine hygiene products such as tampons, pads and menstrual cups. Shoppers pay sales

CNN By Bryan Mena, CNN Washington, DC (CNN) — Most Federal Reserve officials said last month that they expect one more rate hike, according to minutes from their September policy meeting released Wednesday. Some officials said that how fast inflation cools in the coming months will determine how long rates remain elevated. “A majority of

By Hanna Ziady, CNN London (CNN) — The war between Israel and Hamas is unlikely to have a significant impact on the global economy, US Treasury Secretary Janet Yellen said Wednesday. “While we are monitoring potential economic impacts from the crisis [in Israel], I’m not really thinking of that as a major driver of the

By Alicia Wallace, CNN Minneapolis (CNN) — Wholesale price increases of US goods and services jumped higher for a third consecutive month, influenced by still-high energy prices, according to data released Wednesday by the Bureau of Labor Statistics. The Producer Price Index, which measures the average price changes that businesses pay to suppliers, rose 2.2%

By Allison Morrow, CNN New York (CNN) — After more than nine hours of testimony over two days, Caroline Ellison, the most important witness in the government’s case against Sam Bankman-Fried, broke down as she described the final days of the crypto empire she helped build. Strangely, she said, even though it was “overall the

By Anna Cooban, CNN London (CNN) — Shares of LVMH fell as much as 8% Wednesday after the luxury goods conglomerate said revenue growth in the third quarter was much slower than in the first half of the year. The French company posted earnings late Tuesday that it said showed sales were returning to pre-pandemic

By Jordan Valinsky, CNN New York (CNN) — Drinking bad coffee is just one of the many downsides of flying. Alaska Airlines thinks it has a solution. Alaska has created a custom blend with Portland-based roaster Stumptown to make a coffee that’s immune from the altitude-changing effects that airborne-served coffee typically creates, including tasting bitter

By Matt Egan and Anna Bahney, CNN New York (CNN) — Sheila Bair, who had a front row seat to the subprime mortgage meltdown, is worried today’s housing market is unsustainably hot. The median home price of an existing home stood at just $278,200 in August 2019, according to the National Association of Realtors. That

By Chris Isidore and Jordan Valinsky, CNN New York (CNN) — Stellantis and Samsung plan to build a second EV battery plant in Kokomo, Indiana, a town where many current Stellantis workers see such plants as a threat to their current jobs. EV battery plants are a critical part of the plans of traditional automakers

By Chris Isidore, CNN New York (CNN) — ExxonMobil has agreed to buy Pioneer Natural Resources, a major shale oil producer in the deal that will more than double Exxon’s footprint in the Permian Basin in the Southwest United States. Though it’s the largest US oil company, ExxonMobil was relatively slow to develop shale oil

By Nathaniel Meyersohn, CNN New York (CNN Business) — The latest Powerball jackpot has jumped to $1.73 billion as the prize becomes the second largest in the lottery’s history. But in 1987 when Lotto America, the precursor to Powerball, was introduced, organizers prohibited jackpots of more than $80 million. “There were concerns about what you

By Michelle Toh, CNN Hong Kong (CNN) — Samsung warned that operating profit in the third quarter likely plunged 78% as it continues to contend with lower than usual demand for consumer devices. The South Korean tech giant released earnings estimates Wednesday, forecasting operating profit of about 2.4 trillion Korean won ($1.8 billion) for the

By Aya Elamroussi and Nouran Salahieh, CNN (CNN) — A single ticket sold in California scored the second-largest jackpot in Powerball and US lottery history during Wednesday night’s drawing, according to Powerball. The winning numbers are 22, 24, 40, 52, 64 and the Powerball 10. The ticket to snag the estimated jackpot of more than

By Rob McLean, CNN New York (CNN) — Walgreens Boots Alliance said Tuesday that it has named Tim Wentworth its new CEO. Wentworth will begin the position on October 23, according to a news release, and will also join the WBA board of directors. “I am honored and excited for the incredible opportunity to lead

CNN By Oliver Darcy, CNN (CNN) — Some journalists are making the ultimate sacrifice while covering the war between Israel and Hamas. At least seven journalists have been killed in the Gaza Strip since Hamas launched its brazen assault on Saturday, according to press freedom groups and media reports. That number could rise even further