Money

By Matt Egan, CNN Business New York (CNN Business) — America’s emergency oil stockpile has plunged to 40-year lows. The shrinking Strategic Petroleum Reserve is limiting Washington’s ability to shield consumers from the fallout of Saudi Arabia’s aggressive supply cuts, according to Goldman Sachs. “At this point, US energy policy has fewer bullets left. It

By Tom Foster (CNN) — Californian EV-maker Lucid has opened the first ever car manufacturing plant in Saudi Arabia, as the kingdom looks to establish itself as a global player in the EV race. Lucid officially opened the plant in King Abdullah Economic City, near Jeddah, on Wednesday. The factory — the company’s first international

By Jordan Valinsky, CNN New York (CNN) — Not even bottled ketchup is immune from the excitement of the possible romance between Taylor Swift and Travis Kelce. Heinz is releasing a limited edition “Ketchup and Seemingly Ranch” sauce in celebration of the two, with its origins being extremely online. On Sunday, Swift made an appearance

By Catherine Thorbecke, CNN (CNN) — X, the social media company formerly known as Twitter, has scrapped a feature that lets users self-report political misinformation on the platform, a research group says, marking the latest safety-focused guardrail that X has rolled back since billionaire Elon Musk took the helm. The move was first spotted by

By Claudia Colliva, Chris Liakos and Olesya Dmitracova, CNN Paris/London (CNN) — Two of the largest retail chains in France have announced they will forego all profit on fuel sales, yielding to government pressure to sell gasoline and diesel at cost. The savings for motorists at the pump? $1 to $2 per tank. “From September

By Aimee Look, CNN Abu Dhabi, UAE (CNN) — Dubai is rolling out its first round of robotaxis next month, as a part of a plan to alleviate congestion and accidents. Five fully autonomous electric taxis, operated by a General Motors subsidiary called Cruise, will begin test driving on an 8km (5 mile) stretch in

By Jeanne Sahadi, CNN New York (CNN) — Gen Xers are now in their 40s and 50s and account for about a fifth of the US population. As the next generation in line to retire behind the Baby Boomers, their experience may be a cautionary tale for those coming up behind them. A recent report

By Anna Cooban, CNN London (CNN) — London’s office market has plunged into a “rental recession,” with the share of empty space hitting its highest level in three decades, investment bank Jefferies said in a note Wednesday. The New York-based firm said vacancies in the City of London, the UK capital’s historic financial district, accounted

By Hanna Ziady, CNN London (CNN) — Shares of UBS plunged Wednesday following a Bloomberg report that the Swiss bank faces a widening probe by the US Department of Justice (DOJ) over suspected compliance failures that allowed Russian clients to evade sanctions. The Swiss Stock Exchange said it had temporarily stopped trade in the stock,

By Laura He, CNN Hong Kong (CNN) — Shares of Evergrande Group crashed again on Wednesday as fears grew of a potential liquidation of the company, the poster child of China’s property crisis. The embattled developer’s stock closed down 19% at 32 Hong Kong cents (4 US cents), putting its market cap at just 4.2

By Laura Paddison, CNN (CNN) — The British government approved the development of a huge oil and gas field in the North Sea Wednesday, sealing its commitment to keep producing fossil fuels for decades to come. The Rosebank field, situated northwest of Shetland in Scotland and majority-owned by Norwegian state-owned energy company Equinor, is the

By Taylor Romine, CNN (CNN) — The Culinary Workers Union Local 226 and Bartenders Union Local 165 voted Tuesday to authorize a strike, they said in a post on X, formerly known as Twitter. Members voted 95% in favor of a strike authorization in Las Vegas, the unions said. The union leadership is now authorized

KTNV By Taylor Romine, CNN (CNN) — The Culinary Workers Union Local 226 and Bartenders Union Local 165 voted Tuesday to authorize a strike, they said in a post on X, formerly known as Twitter. Members voted 95% in favor of a strike authorization in Las Vegas, the unions said. The union leadership is now

CNN By Parija Kavilanz, CNN New York (CNN) — Target’s decision to close nine of its stores in major cities, citing persistent large-scale theft at those locations, is the latest signal that retailers may be struggling in their battle to contain a growing and dangerous problem. Industry experts say even a small increase in crime

By Samantha Delouya, CNN (CNN) — The Hollywood writers strike is finally over after 148 days. Leaders of the Writers Guild of America have unanimously voted to authorize its members to return to work following the tentative agreement reached Sunday between union negotiators and Hollywood’s studios and streaming services, effectively ending the months-long strike that

By Mitchell McCluskey and Jamiel Lynch, CNN (CNN) — The Baltimore Police Department has announced an arrest warrant for a suspect wanted for the murder of Pava LaPere, the 26-year-old CEO of startup EcoMap Technologies, who was found dead in a downtown Baltimore apartment Monday with signs of blunt-force trauma to her head. Police are

By Ramishah Maruf, Parija Kavilanz and Cheri Mossburg, CNN New York (CNN) — Target is closing nine stores in major cities across four states, claiming theft and organized retail crime have made the environment unsafe for staff and customers – and unsustainable for business. The big box chain is part of a wave of retailers

By Krystal Hur, CNN New York (CNN) — Stocks tumbled Tuesday after a slew of economic data stoked fears about the US economy’s cloudy outlook and further interest rate hikes from the Federal Reserve. The benchmark S&P 500 index slid 1.5%, logging its lowest close since June. The Dow Jones Industrial Average fell 388 points,

By Jordan Valinsky, CNN New York (CNN) — Men, apparently, can’t stop thinking about the Roman Empire. Panera Bread fans can’t stop thinking about their broccoli cheddar soup. Now, the two are coming together with the chain selling a “Roman Empire” menu, which is a cheeky response to the viral TikTok trend. Although the menu

By Matt Egan, CNN New York (CNN) — JPMorgan Chase CEO Jamie Dimon is raising the specter of the war on inflation getting worse before it gets better. In an interview with the Times of India published on Tuesday, Dimon warned that if the Federal Reserve has to keep raising interest rates to cool inflation,