Money

By Chris Isidore and Amy O’Kruk, CNN (CNN) — The United Auto Workers union is officially on strike against General Motors, Ford and Stellantis, the automaker that makes vehicles under the Jeep, Ram, Dodge and Chrysler brands. It’s the first time in its history that it struck all three unionized automakers at the same time.

By Jordan Valinsky, CNN Business New York (CNN) — Johnson & Johnson is replacing its instantly recognizable logo that’s been in use for 135 years. Gone is the cursive, which was based off the handwritten signature of company co-founder James Wood Johnson, and in its place is the name written in modernized font as the

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates ticked up this week, ending a two-week streak of slight declines. Rates have remained over 7% for five consecutive weeks as inflation pressure continues to linger. The 30-year fixed-rate mortgage averaged 7.18% in the week ending September 14, up from 7.12% the week before,

By Nicole Goodkind, CNN New York (CNN) — The largest public offering since 2021 is here. After a nearly two-year drought in the IPO market, UK-based chip designer Arm made a successful Nasdaq debut on Thursday, finishing the day 25% higher and landing the company with a market cap of around $65 billion. The company

By Bryan Mena, CNN Washington, DC (CNN) — US retail sales picked in August, boosted by higher gas prices, as spending on other items grew modestly. Retail sales, which are adjusted for seasonal swings but not inflation, rose 0.6% in August, the Commerce Department reported Thursday. That’s a slightly faster pace than July’s revised 0.5%

By Elisabeth Buchwald, CNN New York (CNN) — Wholesale inflation accelerated for the second month in a row, mirroring a similar trend in the Consumer Price Index report, the Bureau of Labor Statistics reported Thursday. The Producer Price Index, a key measure of price changes at the wholesale level, rose to 1.6% from 1.3% for

CNN By Chris Isidore and Vanessa Yurkevich, CNN Detroit (CNN) — Time has run out to avert a strike at America’s unionized automakers. The United Auto Workers contracts expired at 11:59 pm ET on Thursday. The contracts covered 145,000 UAW members at the three companies: General Motors, Ford and Stellantis, which builds vehicles under the

By Chris Isidore and Vanessa Yurkevich, CNN Detroit (CNN) — America’s auto industry is facing a historic challenge. The United Auto Workers contracts expired at 11:59 pm ET on Thursday. The contracts covered 145,000 UAW members at the three companies: General Motors, Ford and Stellantis, which builds vehicles under the Jeep, Ram, Dodge and Chrysler

By Olesya Dmitracova, CNN London (CNN) — The European Central Bank raised interest rates by a quarter of a percentage point to 4% Thursday and hinted it was done with its protracted campaign of rate hikes to tame stubborn inflation. The central bank has now raised its main interest rate at 10 consecutive meetings, taking

By Chris Isidore and Vanessa Yurkevich, CNN Detroit (CNN) — United Auto Workers President Shawn Fain on Thursday night said the union will strike all the Big Three automakers – GM, Ford and Stellantis – at the same time as of midnight if the companies do not reach tentative labor deals with the auto workers.

By Akanksha Sharma and Michelle Toh, CNN Hong Kong (CNN) — Taiwan’s Ministry of Foreign Affairs has hit back after Elon Musk called the self-ruled island an “integral part of China.” Speaking remotely at the All-in Summit, which took place in Los Angeles this week, Musk compared Taiwan’s relationship with China to that of Hawaii’s

By Michelle Toh, CNN Hong Kong (CNN) — Extreme heat and flooding are set to deal a massive blow to the global fashion industry, with four of the world’s top garment producing countries at risk of missing out on $65 billion in earnings by 2030, according to a study from Cornell University and investment manager

By Nathaniel Meyersohn, CNN New York (CNN) — American Eagle filed a lawsuit against shopping mall owner Westfield, accusing the company of allowing its San Francisco Centre mall to “deteriorate into disarray.” American Eagle, which has a shop in the mall, said that Westfield breached its lease agreement and its neglect of common areas in

By Chris Isidore and Vanessa Yurkevich, CNN Detroit (CNN) — United Auto Workers President Shawn Fain announced a targeted strike plan Wednesday if the union decides to walk out at General Motors, Ford and Stellantis after a contract expiration late Thursday. Details of the plan, including which plants will be struck, will not be announced

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