By Ramishah Maruf, CNN The Texas jury’s decision last week to have Alex Jones face punitive damages of more than $45 million in a lawsuit filed by the parents of Sandy Hook shooting victim Jesse Lewis was a “reckoning that was 10 years in the making,” CNN’s chief media correspondent Brian Stelter said. A pair
Continue Reading By Julia Horowitz, CNN Business The US dollar has been on a tear this year. That’s good news for American tourists gallivanting around Europe, but bad news for pretty much every other country in the world. The greenback is up more than 10% in 2022 compared to other top currencies — near its highest level
Continue Reading By Zoe Sottile, CNN A mattress brand is hiring for a position where sleeping on the job is not just accepted — it’s mandatory. Casper, a New York-based company founded in 2014, is hiring “Casper Sleepers” to sleep for a living. Casper Sleepers will sleep “in our stores, and in unexpected settings out in the
Continue Reading By Julia Horowitz, CNN Business After the Federal Reserve’s July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish. After embarking on an aggressive rate-hike spree this year in a bid to fight inflation, the Fed indicated it could downgrade the size of its hikes moving forward. “We’ve been front-end loading
Continue Reading By Frank Pallotta, CNN Business Netflix has had a terrible 2022. In April, it said it lost subscribers for the first time since 2011. Its stock has tumbled more than 60% so far this year. Yet its recent struggles may not be the start of a downward spiral or the beginning of the end for
Continue Reading By Ramishah Maruf, CNN Tesla’s autopilot and self-driving claims are under fire again, this time from the California Department of Motor Vehicles in a complaint it filed on July 28. The complaint alleges that the company made “untrue or misleading” statements in advertisements on its website by claiming that Tesla vehicles were, or could be,
Continue Reading By Natasha Chen, CNN Business On any given weekend night in North Hollywood, a group of dancers in outlandish costumes holds signs urging customers to stay away from the Star Garden topless bar. More than a dozen of the club’s dancers say they’ve been locked out for four-plus months because they petitioned the owners to
Continue Reading By Nathaniel Meyersohn, CNN Business Kirkland Signature. Two-Buck Chuck. Simple Truth. Cat & Jack. Great Value. Amazon Basics. Store brands have never been more popular. They have become forces in their own right and make up around 21% of sales in the $1.17 trillion US grocery industry, according to IRI. As prices surge, store brands
Continue Reading By Vedika Sud, Barbara Starr, Sahar Akbarzai and Kathleen Magramo, CNN The United States is to take part in a joint military exercise with India less than 100 kilometers (62 miles) from the South Asian country’s disputed border with China. The military drills will be held in mid-October at an altitude of 10,000 feet in
Continue Reading By Brian Stelter, CNN Business A Texas jury has decided to penalize Alex Jones with $45.2 million in punitive damages in a lawsuit filed by the parents of Sandy Hook shooting victim Jesse Lewis. Plaintiffs Neil Heslin and Scarlett Lewis were awarded a total of just under $50 million in both compensatory and punitive damages.
Continue Reading Opinion by Dana Peterson for CNN Business Perspectives Most recessions in US history have been accompanied by severe job losses and high unemployment rates, but this time may be different. Should a recession take hold in the US, the ongoing labor shortage may be the key to protecting vulnerable workers in what may prove to
Continue Reading Martha C. White for CNN Business Americans piled on $40.1 billion worth of debt in June, the Federal Reserve said Friday afternoon. The figure was considerably higher than economists’ forecasts, after May’s revised total of $23.8 billion. Americans’ borrowing grew by 10.5% in June, compared to 6.3% in May, according to the Fed’s G.19 consumer
Continue Reading By Brian Stelter, CNN Business A Texas jury has decided to penalize Alex Jones with $45.2 million in punitive damages in a lawsuit filed by the parents of Sandy Hook shooting victim Jesse Lewis. Plaintiffs Neil Heslin and Scarlett Lewis were awarded a total of just under $50 million in both compensatory and punitive damages.
Continue Reading By Alicia Wallace, CNN Business The US economy has now regained all jobs lost during the pandemic, after a blowout July jobs report that showed a gain of 528,000 jobs, according to data released Friday by the Bureau of Labor Statistics. The massive monthly gain was more than double the 250,000 that economists were expecting,
Continue Reading By Peter Valdes-Dapena, CNN Business As gas prices rose in the the first three months of 2022, interest among car shoppers in hybrid and electric cars rose right along with it. That’s not too surprising, since so-called “electrified” cars cost less to fuel than gasoline-only cars. And shopping interest in electrified cars also dropped when
Continue Reading By Julia Horowitz, CNN Business After the Federal Reserve’s July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish. After embarking on an aggressive rate-hike spree this year in a bid to fight inflation, the Fed indicated it could downgrade the size of its hikes moving forward. “We’ve been front-end loading
Continue Reading By Oliver Darcy, CNN Business Right-wing talk show host Alex Jones will have to pay the parents of a Sandy Hook shooting victim a little more than $4 million in compensatory damages, a jury decided Thursday, capping a stunning and dramatic case that showcased for the public the real-world harm inflicted by viral conspiracy theories.
Continue Reading By Julia Horowitz, CNN Business For the past year, America has had a glut of open jobs. Restaurants, airlines and retail stores have raced to recruit enough people to meet a surge in demand, dangling sign-on bonuses and more attractive wages. Time after time, they’ve come up short. But as the US economy slows down,
Continue Reading By Tami Luhby, CNN At first glance, it looks like many Americans got big pay raises since the Covid-19 pandemic started. But in reality, only workers in two industries — leisure and hospitality and retail trade — are actually coming out ahead, once inflation is taken into account. Overall, wages and salaries for private industry
Continue Reading By Gabe Cohen, CNN There are medicines that Angelina Scott can’t live without. Between her Atrial Fibrillation, high blood pressure and high cholesterol, the 45-year-old notary is currently taking five prescriptions. “You can’t tell your heart, please don’t stop beating,” Scott told CNN. But with sky high inflation and hundreds of dollars in monthly medical
Continue Reading