Money

By Ramishah Maruf, CNN New York (CNN) — Starbucks announced Wednesday that Howard Schultz is stepping down from its board of directors – but the former chairman’s name will be sticking around. Though Schultz is retiring, Starbucks is giving him the title of “lifelong Chairman Emeritus.” Schultz is stepping down as part of a planned

By Clare Duffy, CNN New York (CNN) — Google confirmed it will lay off hundreds of staff members who helped recruit and hire employees, as Silicon Valley continues its cost-cutting efforts. The latest cuts come after Google parent Alphabet in January eliminated 12,000 jobs, or about 6% of its workforce, across the company as it

By Parija Kavilanz, CNN New York (CNN) — The ‘Barbie’ movie, which turned into a global box office phenomenon in a matter of weeks, appears to be energizing sales of Barbie toys after its summer release. Barbie toy sales in the US increased 25% for the July-August combined months compared to the same two-month period

By Elisabeth Buchwald, CNN New York (CNN) — As overall US inflation heated up last month, consumers got some relief at grocery stores. Grocery price increases in the United States slowed down in August, up just 0.2% for the month. That’s an improvement from July, when grocery prices were up 0.3%, according to the latest

By Allison Morrow, CNN New York (CNN) — A bankruptcy judge granted FTX, the collapsed crypto exchange founded by Sam Bankman-Fried, permission to liquidate its digital assets to repay creditors. FTX has previously said in bankruptcy court filings that its digital assets, such as Solana, Bitcoin and Ether (its three biggest holdings,) amount to about

By Oliver Darcy and Kristen Holmes, CNN (CNN) — Kristen Welker will face a big first test as moderator of “Meet the Press” on her debut episode this Sunday. Welker is set to begin her time in the anchor chair with a sit-down interview with former President Donald Trump, CNN first reported and was later

By Elisabeth Buchwald, CNN New York (CNN) — Across the United States, the cost of car insurance is up 19% compared to a year ago, according to August’s Consumer Price Index report released on Wednesday. That’s the biggest annual increase since 1976. But in Florida, where extreme weather episodes are increasingly more prevalent and destructive,

By Ramishah Maruf, CNN New York (CNN) — Marvel Studio’s VFX workers unanimously voted to unionize with the International Alliance of Theatrical Stage Employees, marking the first time visual effects workers have unionized with IATSE, the union announced Wednesday. The National Labor Relations Board oversaw the election, and the count was held Tuesday after the

By Matt Egan, CNN Business New York (CNN Business) — As Detroit automakers and labor leaders scramble to hammer out a contract that will shape the future of the US auto industry, former Ford CEO Mark Fields has words of caution for both sides. Fields, who led Ford between 2014 and 2017, is warning the

By Nathaniel Meyersohn, CNN New York (CNN) — Everyone you know traveled to Europe this summer, despite a jump in airfare. But don’t worry if you missed out — falling ticket prices could make fall the better time to fly. Prices for airfare early this autumn are much lower than fares over the summer, according

By Martin Goillandeau, Chris Liakos and Jennifer Korn, CNN (CNN) — Apple is fighting France’s claims that the iPhone 12 surpasses European radiation exposure limits after French regulators on Tuesday ordered a pause on sales and a fix to phones already sold to customers. France’s National Frequency Agency said it “has demanded that Apple withdraw

CNN By Martin Goillandeau, Chris Liakos and Jennifer Korn, CNN (CNN) — Apple is fighting France’s claims that the iPhone 12 surpasses European radiation exposure limits after French regulators on Tuesday ordered a pause on sales and a fix to phones already sold to customers. France’s National Frequency Agency said it “has demanded that Apple

By Jordan Valinsky, CNN Business New York (CNN) — American Airlines said that rising costs, including fuel, will dent its upcoming profits. The Forth Worth-based carrier said in a regulatory filing that its adjusted earnings per share will now be between 20 cents to 30 cents in the third quarter, which is drastically smaller than

By Samantha Murphy Kelly, CNN (CNN) — Apple retired its Lightning charger on Tuesday exactly 11 years to the day it was first announced. The effort marks a milestone moment for the company by finally adopting USB-C, a universal charging system. That’s noteworthy not only because Apple has been resistant to do so for years

By Bryan Mena, CNN Washington, DC (CNN) — US inflation accelerated in August for the second-straight month, pushed up by rising gas prices. However, core inflation, which strips out volatile food and energy prices, continued to slow, according to data from the Bureau of Labor Statistics released Wednesday. The Consumer Price Index, a closely watched

By Anna Cooban, CNN London (CNN) — German shoemaker Birkenstock has filed for an initial public offering in New York, becoming the latest European company to choose the United States as the place to raise money on the stock market. The iconic footwear brand said in a filing to the US Securities and Exchange Commission

By Chris Isidore, CNN Kokomo, Indiana (CNN) — Normally a new, $2.5 billion factory, complete with 1,400 expected jobs, would be considered a good thing for a local economy. But not the battery plant in Kokomo, Indiana. “It’s a spit in the face,” said Gary Quirk, president of United Auto Workers Local 685. That’s because

By Brian Fung, CNN Washington (CNN) — Coming out of a three-hour Senate hearing on artificial intelligence, Elon Musk, the head of a handful of tech companies, summarized the grave risks of AI. “There’s some chance – above zero – that AI will kill us all. I think it’s low but there’s some chance,” Musk

By Mengchen Zhang and Donald Judd, CNN Beijing/Washington (CNN) — China hasn’t issued any laws or rules to ban the use of iPhones or any other foreign phone brand, a Chinese government spokesperson said on Wednesday. “We have always been open to foreign companies and welcome them to seize the opportunities and share the fruits

By James Frater and Mark Thompson, CNN Brussels/London (CNN) — The European Union is launching an investigation into China’s state support for makers of electric vehicles as soaring imports of their cars stoke fears for the future of European auto manufacturers. Speaking to the European Parliament Wednesday, European Commission President Ursula von der Leyen said