Money

By Jordan Valinsky, CNN New York (CNN) — Kraft Heinz is recalling about 83,000 cases of its individually wrapped Kraft Singles American cheese because they might pose a choking hazard. The company said in a statement that a “temporary issue” with one of its wrapping machines means a “thin strip of the individual film may

By Bryan Mena Washington, DC (CNN) — The Federal Reserve said Wednesday it will pause its rate hikes, keeping its benchmark lending rate at a 22-year high, while signaling fewer rate cuts next year. The move was widely expected, after the central bank signaled in recent weeks that it intended to wait for more data

By Nathaniel Meyersohn, CNN New York (CNN) — Looming over the United Auto Workers strike: Automakers’ continued migration to the anti-union South. Beginning in the 1970s and 1980s, the auto industry began shifting South, a region long characterized by hostility to labor unions and by low wages. Since then, assembly lines of higher-paid UAW workers

By Ella Nilsen and Krystina Shveda, CNN (CNN) — Millions of American homeowners could see insurance rates surge in the coming years in part due to worsening climate disasters, new data shows. An analysis of from nonprofit research group First Street Foundation found nearly 39 million homes and commercial properties – about 27% of properties

By Chris Isidore, CNN (CNN) — The union representing Canadian autoworkers at Ford has reached a tentative deal with the US automaker, keeping more than 5,000 union members on the job and providing some good news for an industry dealing with unprecedented labor disruptions. Details of the deal between Ford and Unifor, the Canadian union,

By Ramishah Maruf, CNN New York (CNN) — Stanford University said it will be returning gifts it received from bankrupt crypto exchange FTX “in their entirety,” after a lawsuit against founder Sam Bankman-Fried’s parents alleged the school received millions of dollars in donations. The school said it received the gifts from the FTX Foundation and

By Danielle Wiener-Bronner and Natasha Chen, CNN New York (CNN) — Disney is greatly expanding its investment into theme parks and cruises, the company said Tuesday. Over the next 10 years, it will pour $60 billion into its Disney Parks, Experiences and Products segment, according to an SEC filing which coincided with its investor summit

By Ramishah Maruf, CNN New York (CNN) — Santa may be a little short on helpers this Christmas. America’s retailers are expected to add just 410,000 seasonal positions for this year’s holiday shopping season, according to an estimate from outplacement services firm Challenger, Gray & Christmas. That would mark the industry’s lowest seasonal hiring total

By Clare Duffy, CNN New York (CNN) — Millions of Fortnite users can now claim their small part of the $245 million that the game’s parent company agreed to pay as part of a settlement with the US Federal Trade Commission. Epic Games in December settled allegations with the FTC that it used deceptive tactics

By Matt Egan, CNN New York (CNN Business) — Pain at the pump is returning across the United States, especially on the West Coast. In California, gas prices are rapidly approaching $6 a gallon. According to AAA, the state average has spiked by 31 cents in the past week alone, to $5.79 gallon. The move

By Liam Reilly, CNN (CNN) — Live sports is coming to Max. Warner Bros. Discovery announced Tuesday it will launch a live sports tier on its Max streaming service on October 5 that will give subscribers access to more than 300 live games a year. The “Bleacher Report Sports Add-On” will include a package of

By Chris Isidore and Vanessa Yurkevich, CNN New York (CNN) — The United Auto Workers union’s already unprecedented strike against General Motors, Ford and Stellantis could soon get even bigger. As the strike entered its fifth day Tuesday with the two sides apparently far apart, the union is threatening to expand the strike as soon

By Hanna Ziady, CNN London (CNN) — The UK government has moved to take control of the country’s second biggest city, Birmingham, after the local council effectively declared itself bankrupt earlier this month. In a letter to the council Tuesday, the government proposed appointing commissioners to take charge of the daily running of the local

By Olesya Dmitracova, CNN London (CNN) — Fraudsters have robbed Europe’s largest copper producer of €185 million ($198 million) worth of the metal, possibly with the help of insiders, the company said Tuesday. After carrying out an extraordinary inventory on August 31, Germany’s Aurubis found that it had paid inflated invoices for shipments of scrap

By Bryan Mena, CNN Washington, DC (CNN) — The Federal Reserve is expected to hold its benchmark lending rate steady this week as it waits for more data to understand how previous rate hikes are affecting the US economy. The central bank raised rates to a 22-year high in July. At the conclusion of its

By Allison Morrow, CNN New York (CNN) — Bankrupt crypto exchange FTX is suing founder Sam Bankman-Fried’s parents, accusing them of siphoning millions of dollars in company funds to enrich themselves and their “pet causes.” The lawsuit aims to recover funds that the company claims were “fraudulently transferred and misappropriated” by Bankman-Fried’s parents. Joe Bankman

CNN By Samantha Murphy Kelly, CNN Video by John General & Katherine Jennings, CNN (CNN) — The new iPhone 15 Pro lineup offers the typical slate of new features designed to persuade customers to upgrade: They’re slimmer and thinner than last year’s crop. The new cameras are professional-grade and the switch to USB-C charging will

By Samantha Murphy Kelly, CNN Video by John General & Katherine Jennings, CNN (CNN) — The new iPhone 15 Pro lineup offers the typical slate of new features designed to persuade customers to upgrade: They’re slimmer and thinner than last year’s crop. The new cameras are professional-grade and the switch to USB-C charging will make

By Anna Bahney, CNN Washington, DC (CNN) — US home building sank in August, dropping 11.3% from July levels, as mortgage rates stayed elevated amid lingering inflation. Housing starts, a measure of new-home construction, dropped to a seasonally adjusted annual rate of 1.283 million last month, well below expectations of 1.44 million, according to data

By Jordan Valinsky, CNN New York (CNN) — Instacart started trading Tuesday, opening at $42 per share and propelling the grocery-delivery company to a market valuation of just over $11 billion. Trading under the ticker CART, Instacart had set a price of $30 per share for its initial public offering. Instacart’s current valuation is a