Money

CNN By Liam Reilly and Jon Passantino, CNN New York (CNN) — Paramount Global, the storied media conglomerate, announced Thursday it will lay off 15% of its US staff and write down $6 billion in value of its cable television networks as it prepares to merge with Skydance Media. The layoffs, which will affect around

By Liam Reilly and Jon Passantino, CNN New York (CNN) — Paramount Global, the storied media conglomerate, announced Thursday it will lay off 15% of its US staff and write down $6 billion in value of its cable television networks as it prepares to merge with Skydance Media. The layoffs, which will affect around 2,000

By Clare Duffy, CNN New York (CNN) — OpenAI is worried that people might start to rely on ChatGPT too much for companionship, potentially leading to “dependence,” because of its new human-sounding voice mode. That revelation came in a report Thursday from OpenAI on the safety review it conducted of the tool — which began

By David Goldman, CNN (CNN) — The war of words over Delta’s massive service meltdown, set off by CrowdStrike’s disastrous software update, has grown ugly. In a letter sent Thursday to CrowdStrike’s attorneys written by Delta’s high-powered lawyer, David Boies, the airline lashed out at the cybersecurity company, which has apologized for introducing a bug

By Bryan Mena, CNN Washington (CNN) — US mortgage rates plummeted this week after weaker-than-expected employment data raised the odds of the Federal Reserve cutting interest rates next month. It’s a big step in the right direction for America’s notoriously unaffordable housing market. The standard 30-year fixed-rate mortgage averaged 6.47% this week, mortgage financing giant

By Ramishah Maruf, CNN New York (CNN) — Samsung is recalling knobs on some of its electric stoves, warning that fires can be set off if pets — or even humans — bump into them. Several videos have shown pets accidentally igniting fires from jumping onto stoves and pawing at the knobs. A Colorado dog

By Lucy Bayly, CNN New York (CNN) — US stocks surged Thursday after new data on the labor market suggested that the economy may not be headed into the downward spiral that traders feared. The Dow rose 683 points, or 1.8%. The S&P 500 gained 2.3%, notching its best day this year. The Nasdaq Composite

By Samantha Delouya, CNN (CNN) — The total value of the housing market now exceeds $1 trillion in eight US cities, doubling from just four cities last year and underscoring just how much home prices have skyrocketed in a relatively short time, according to a report released Thursday from Redfin. Chicago, Phoenix, Washington and Anaheim,

By Chris Isidore, CNN New York (CNN) — Today is Kelly Ortberg’s first day as CEO of Boeing. He’s already winning praise – for his work location. Ortberg has decided he will work out of Boeing’s offices in Seattle, which had been the company’s home for its first 85 years before it moved its corporate

By Laura He, CNN Hong Kong (CNN) — A comeback rally in Japanese stocks has quickly lost steam, as the specter of a US economic slowdown and further yen volatility cast a long shadow across global financial markets. The Nikkei 225 ended down 0.7% on Thursday, snapping a two-day winning streak. Meanwhile, the yen strengthened

By Erika Tulfo, CNN (CNN) — Costco knows you’re using your friend’s membership card. To save you the embarrassment of telling you off when you’re in the checkout line, now Costco will try to catch membership moochers before they even get in the door. The retailer is implementing stricter policies and cracking down on non-members

CNN By Oliver Darcy, CNN New York (CNN) — The Republican Party’s media allies are yet again struggling to coalesce around a single attack on the Democratic ticket. In the hours since Kamala Harris tapped Tim Walz as her running mate, top figures in right-wing media have thrown everything but the kitchen sink at the

By Ramishah Maruf, CNN New York (CNN) — Some Delta Air Lines passengers whose flights were canceled when the airline melted down due to a global tech outage in July have sued the airline in a class action, alleging that Delta refused or conditioned refunds to passengers as it struggled with mass cancellations. The lawsuit,

By Ramishah Maruf, CNN New York (CNN) — Disney Parks are the latest business to face slowing consumer demand in the face of higher prices. Disney’s parks business underperformed expectations and profit fell somewhat last quarter. Although the company said attendance remained steady and people were spending more, it also acknowledged a slumping economy was

By Krystal Hur, CNN New York (CNN) — US stocks wavered Wednesday, giving back earlier gains as investors tried to recover from the week’s bruising losses. The Dow fell 234 points, or 0.6%, after gaining more than 400 points earlier in the day. The S&P 500 declined 0.8% and the Nasdaq Composite lost 1.1%. CNN’s

By Oliver Darcy, CNN New York (CNN) — The Republican Party’s media allies are yet again struggling to coalesce around a single attack on the Democratic ticket. In the hours since Kamala Harris tapped Tim Walz as her running mate, top figures in right-wing media have thrown everything but the kitchen sink at the Minnesota

By Chris Isidore and Pete Muntean, CNN Washington (CNN) — Seven months of investigations. Nearly 10 hours of hearings. And yet neither Boeing nor the National Transportation Safety Board know how a 737 Max was delivered to Alaska Airlines without the four bolts needed to keep a door plug in place. What is known: Boeing’s

By Jeanne Sahadi, CNN New York (CNN) — For individual investors, the quick-turn global rout in stocks on Monday was unsettling, despite news Tuesday that stocks staged a rally. Also unwelcome: Expectations that volatility will continue for the foreseeable future. Investment strategists at retirement investment advisory firm TIAA expect it to last at least through

By Tami Luhby, CNN (CNN) — Like many manufacturers, DS Smith sorely needed more workers in 2022. The multinational packing company’s corrugated box plant in Lebanon, Indiana, tried billboards, yard signs, jobs fairs and flyers at churches and fast-food restaurants but found it still took an average of three months to fill roles. That meant