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,
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Multiple back to school events will be taking place in Columbia Saturday, set to offer free goods and services to students and parents as back-to-school preparations begin.
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 By Jackie Wattles, CNN Business Tesla officially announced a three-for-one stock split, meaning the company’s stock price — which has jockeyed between $600 and $1,000 for a year — is about to get more affordable for investors. The stock will begin trading on a split-adjusted basis on August 25th. Tesla shareholders approved the split Thursday
Continue Reading By Clare Duffy, CNN Business Elon Musk’s legal team on Friday made public its official response to Twitter’s lawsuit attempting to force him to complete their $44 billion acquisition deal. In the answer to Twitter’s complaint, which includes counter-claims against the company, Musk’s team attempts to refute the company’s allegations that the Tesla CEO is
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
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The state of Missouri officially began its back to school sales tax holiday at 12:01 a.m. Friday morning as the exemption is set to run through Sunday, Aug. 7.
Continue Reading By Jennifer Korn Amazon has agreed to buy iRobot, the maker of the popular Roomba vacuum, in an all-cash deal valued at about $1.7 billion, including debt, the two companies announced Friday. The deal, which is pending approval from shareholders and regulators, has the potential to expand Amazon’s robotics lineup and deepen its presence in
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