CNN – Business/Consumer

CNN By Samantha Delouya, CNN (CNN) — Over 11,000 Los Angeles city workers are planning to strike on Tuesday, according to the union that represents many of the city’s public-sector staff. City employees represented by SEIU Local 721, including those working in the sanitation department, at the city’s port and at Los Angeles International Airport,

By Ramishah Maruf, CNN New York (CNN) — Paramount has agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash, after more than three years of trying to offload the book publishing powerhouse. Bob Bakish, president and CEO of Paramount Global, said Simon & Schuster is a “fantastic asset”

By Gregory Wallace and Eva Rothenberg (CNN) — More than 9,000 flights have been impacted by the severe summer storms that are pounding the eastern United States. Over 8,200 flights were delayed in the US on Monday, according to data from FlightAware, and more than 1,600 US flights were cancelled. Delta Airlines had around 400

By Allison Morrow, CNN New York (CNN) — PayPal is rolling out its first stablecoin as it attempts to capitalize on the “emerging potential” of US dollar-backed digital tokens for consumer payments. The stablecoin, PayPal USD, is fully backed by the US dollar and is “designed to reduce friction” for payments within virtual spaces and

By Danielle Wiener-Bronner, CNN New York (CNN) — Chicken prices are down. That’s good news for chicken eaters, but bad news for Tyson Foods. The meat processor, which supplies about a fifth of the beef, pork and chicken in the United States, said Monday that it is shutting down four chicken plants -— two in

By Jennifer Korn New York (CNN) — Google is moving ahead with its plan to delete accounts that have been inactive for at least two years. Accounts won’t be deleted until December 1, but Google (GOOG) will start sending warnings to affected users. The company will send multiple warning notifications to impacted Google (GOOG) accounts

By Matt Egan, CNN New York (CNN) — A senior official at the Federal Reserve is pushing back against growing hopes on Wall Street that the central bank could be nearly done raising interest rates. In a pair of speeches on Saturday and on Monday, Fed Governor Michelle Bowman warned that multiple rate hikes could

By Peter Valdes-Dapena, CNN Business New York (CNN) — Tesla’s “Master of Coin” and Chief Financial Officer Zachary Kirkhorn has stepped down after four years and six months in the role. Kirkhorn joined Tesla 13 years ago as a senior finance analyst, according to his LinkedIn profile, rising to CFO in 2019. Tesla announced in

By Nathaniel Meyersohn, CNN New York (CNN) — Cold drinks are hotter than ever. At Starbucks, cold drinks made up 75% of US beverage sales last quarter. Cold espresso drinks in particular rose 13% last quarter from a year ago, and drinks with cold foam are the fast-growing customized orders at Starbucks, the company said

By Jordan Valinsky, CNN New York (CNN) — Zoom, the company that powered the remote work revolution during the pandemic, is telling its employees to come back to the office. In a statement, Zoom said it’s now enforcing a “structured hybrid approach,” meaning that employees who live near an office “need to be onsite two

By Olesya Dmitracova, CNN London (CNN) — Industrial production in Europe’s biggest economy fell 1.5% in June compared with May, driven by a 3.5% drop in Germany’s vast automotive sector. The decline in German industrial output, much steeper than forecast by economists, raises the risk that the manufacturing heavyweight will contract again later this year,

By Chris Isidore and Michelle Toh, CNN New York/Hong Kong (CNN) — Yellow Corp., a once-dominant US trucking company, has filed for bankruptcy as it winds down its 99-year-old business that employs 30,000 workers. The Nashville-based logistics provider announced Sunday it had filed for Chapter 11 relief in the US Bankruptcy Court for the district

By Eva Rothenberg, CNN New York (CNN) — On the same day “Barbie” passed its billion-dollar box office milestone, the other half of the viral “Barbenheimer” phenomenon blew past the half-billion-dollar mark. Since its release three weeks ago, Christopher Nolan’s “Oppenheimer” has made $552.9 million worldwide, according to official estimates from Universal Pictures. It is

CNN, WBZ, WARNER BROS. PICTURES, PARAMOUNT, UNIVERSAL PICTURES, UNIVERSAL, BOX OFFICE PRO, Warner Bros. Pictures/Universal By Eva Rothenberg, CNN New York (CNN) — On the same day “Barbie” passed its billion-dollar box office milestone, the other half of the viral “Barbenheimer” phenomenon blew past the half-billion-dollar mark. Since its release three weeks ago, Christopher Nolan’s

By Eva Rothenberg, CNN (CNN) — The possible showdown between Elon Musk and Mark Zuckerberg will be streamed on X, formerly known as Twitter, according to Musk. In a pair of tweets Sunday morning, the platform’s owner said he was “lifting weights throughout the day, preparing for the fight,” adding “all proceeds will go to

By Eva Rothenberg, CNN New York (CNN) — “Barbie” has answered the billion-dollar question with a resounding “yes.” Barely three weeks into its run, writer-director Greta Gerwig’s blockbuster has raked in an astounding $1.03 billion at the global box office, according to official Warner Bros. estimates. This makes Gerwig the first female director with a

By Eva Rothenberg, CNN (CNN) — The US economy is resilient, but policymakers need to take the long view on the country’s fiscal challenges, three former Treasury secretaries told CNN’s Fareed Zakaria on Sunday. Last week, Fitch Ratings, one of the world’s top credit rating’s agencies, downgraded the US government’s credit rating from a stellar

By Alicia Wallace, CNN Minneapolis (CNN) — A slew of new bills signed into law by Republican Florida Gov. Ron DeSantis has draped the Sunshine State in controversy, spurring protests, lawsuits and travel advisories warning the state is “openly hostile” toward people of color, immigrants, women and LGBTQ+ community members. The fallout is starting to

By Brian Fung, CNN (CNN) — The crushing demand for AI has also revealed the limits of the global supply chain for powerful chips used to develop and field AI models. The continuing chip crunch has affected businesses large and small, including some of the AI industry’s leading platforms and may not meaningfully improve for

By Matt Egan, CNN New York (CNN) — The Wells Fargo glitch that made some customers’ direct deposits disappear from their bank accounts is over, the bank said on Saturday. “All accounts have been resolved and are showing accurate balances and transactions,” Wells Fargo spokesperson Amy Bonitatibus said in a statement to CNN. “We sincerely