Money

By Nathaniel Meyersohn, CNN New York (CNN) — After years of prolific growth, US dollar stores have hit a downturn. Dollar Tree (DLTR) shares plunged 20% Wednesday after the company cut its outlook for the rest of the year, citing “immense pressures” on its low- and middle-income customer base. Dollar Tree also owns the long-struggling

By Jordan Valinsky, CNN New York (CNN) — Shein and Temu, two Chinese low-cost e-commerce websites, are the target of a proposed investigation by the United States government for selling “deadly baby and toddler products.” Two leaders from the Consumer Products Safety Commission said in an open letter Wednesday that they want commission staff to

By Alicia Wallace, CNN (CNN) — The number of available jobs in the US shrank more than expected in July, an indication that demand for workers continues to wane amid a cooling labor market. Job openings fell in July for the second consecutive month to an estimated 7.67 million, from 7.91 million in June, according

By Jordan Valinsky, CNN New York (CNN) — LL Flooring, formerly known as Lumber Liquidators, is going out of business after the bankrupt company failed to find a buyer to rescue the 30-year-old retailer. As a result, LL Flooring will liquidate. Sales at its remaining 200 stores will begin on September 6, setting in motion an

By Jordan Valinsky, CNN New York (CNN) — Nearly a year after McDonald’s ditched the hollow plastic spoon, more changes are coming for the McFlurry. Beginning September 10, the chain is eliminating the plastic, dome-shaped lid and serving the ice cream treat in a new cardboard cup that has four flaps to cover the top.

By Chris Isidore, Kayla Tausche and Arlette Saenz, CNN Washington DC (CNN) — President Joe Biden is prepared to block Japan’s Nippon Steel’s proposed acquisition of US Steel, two sources familiar with the matter said, a move that would deal a major blow to the $14 billion merger that has become a lightning rod in an election year

By Juliana Liu, CNN (CNN) — Brazilian President Luiz Inácio Lula da Silva says the world isn’t obliged to put up with billionaire Elon Musk’s “far-right anything goes” agenda because of his immense wealth. Lula da Silva made the remarks in an interview with CNN affiliate CNN Brasil published Monday, days after Musk’s social media site X was

By Ramishah Maruf, CNN New York (CNN) — The US Securities and Exchange Commission fined six major credit rating organizations a total of $49 million for their “significant failures” to keep electronic communications. Moody’s Investor Services and S&P Global Ratings agreed to pay the heftiest fines, a $20 million civil penalty each. Fitch Ratings agreed

By Lucy Bayly, CNN New York (CNN) — Wall Street kicked off the month of September with a bust, after a disappointing economic report dragged down the Dow by 626 points, or 1.5%, Tuesday afternoon. The latest manufacturing report from the Institute for Supply Management showed a fifth-straight month of declines, fueling concern that aggressive

By Jordan Valinsky, CNN New York (CNN) — Costco customers are now paying more for their annual memberships for the first time since 2017. The retailer announced in July that membership fees would increase by $5 to $65 a year in the US and Canada for three of its plans: “Gold Star,” “Business” and “Business

By Elisabeth Buchwald, CNN New York (CNN) — Going to college in the United States has long been considered the ticket to a higher-paying job. But the growing share of high school graduates who are enrolling in vocational schools instead of four-year programs may not be missing out on as much earnings potential as you

By Jordan Valinsky, CNN New York (CNN) — A number of viral TikTok videos had some people believing they could get “free” cash from Chase ATMs. But it was just a glitch – and those customers were actually committing fraud, according to the bank. Over the weekend, videos appeared on the app showing people depositing

By Alicia Wallace, CNN (CNN) — Global supply chains, now a couple years recovered from pandemic-era snarls, have been chugging along at a much healthier clip. But by no means has it been smooth sailing. Traffic through two critical international shipping arteries has been bogged down dramatically: The Suez Canal, due to Houthi militants’ monthslong

By Clare Duffy, CNN New York (CNN) — If a strange photo has recently stopped you in your tracks while scrolling your Facebook feed, you’re not alone. Users who once came to Facebook to connect with friends and family are increasingly complaining of random, spammy, junk content — much of it apparently generated by artificial

By Jordan Valinsky, CNN New York (CNN) — At the US Open currently underway in New York, a single cocktail will surpass $10 million in sales before the tennis grand slam event ends September 8. The drink’s sales alone could cover the combined championship prize money for both the male and female singles winner —

By Chris Lau and Juliana Liu, CNN Hong Kong (CNN) — Hong Kong’s flag carrier Cathay Pacific has canceled dozens of flights as it conducts an inspection of its entire Airbus A350 fleet after finding engine problems affecting the plane. The airline, one of the world’s largest users of the long-haul jet, said it identified

By Hanna Ziady, CNN London (CNN) — Volkswagen is weighing whether to close factories in Germany for the first time in its 87-year history as it moves to deepen cost cuts amid rising competition from China’s electric vehicle makers. In a statement Monday, the German automaker, one of the world’s biggest car companies, said that

By Gloria Pazmino and Chris Isidore, CNN (CNN) — Baltimore hotel workers are joining a massive nationwide strike against three major hotel chains during one of the biggest travel holidays of the year. Unite Here, the union representing hotel workers, said approximately 200 hotel workers walked off the job in Baltimore at the Hilton Inner

By Jeanne Sahadi, CNN New York (CNN) — A Texas judge late last month struck down a nationwide ban on noncompete agreements that was supposed to take effect this Wednesday. Existing noncompete agreements will therefore now remain in place. And employers may still ask you to sign one as a condition of employment. That is,