By Anna Bahney, CNN Business Home builders pressed on the brakes once again last month as the cost of building supplies remained high and more prospective buyers were priced out of the market. July housing starts, a measure of new home construction, plunged 9.6% month-over-month and 8.1% from a year ago, according to the US
Continue Reading By Paul R. La Monica, CNN Business Soaring mortgage rates and unaffordable home prices are worrisome signs for the broader housing market and economy. In another worrisome sign, housing starts and building permits for July both fell from June levels and missed economists’ forecasts. But don’t tell that to Home Depot. The home improvement retail
Continue Reading By Chris Isidore, CNN Business Walmart had good news Tuesday for investors and economists worried about a looming recession, as the retail giant gave a much rosier picture of consumer spending than it offered less than a month ago. On July 25, Walmart warned about its earnings for the rest of the year, saying that
Continue Reading By Julia Horowitz, CNN Business It’s a moment of great uncertainty for the US economy, as high inflation and rising interest rates feed fears that a recession could be around the corner. But the Oracle of Omaha isn’t losing faith. What’s happening: Last quarter, Warren Buffett’s Berkshire Hathaway boosted its holdings in Apple by 3.9
Continue Reading By Anna Cooban, CNN Business UK workers have suffered the biggest drop in their spending power in more than 20 years as prices keep soaring. Average real wages — which account for inflation — fell by 3% between April and June compared with the same period last year, according to data from the Office for
Continue Reading By Laura He, CNN Business China’s Sichuan province has ordered all factories to shut down for six days to ease a power shortage in the region as a scorching heat wave sweeps across the country. Sichuan is a key manufacturing location for the semiconductor and solar panel industries and the power rationing will hit factories
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The Jefferson City Council held a public hearing Monday night on its fiscal year 2023 budget and its property tax rate.
Continue Reading By Rob McLean, CNN Business Millions of baby swings and rockers that pose a risk of asphyxiation or other injuries to infants have been recalled, according to an announcement Monday from the US Consumer Product Safety Commission. 4moms, which manufactures products for young children, issued a recall of its MamaRoo Baby Swing — versions 1.0
Continue Reading By Peter Valdes-Dapena, CNN Business The modern Dodge Challenger muscle car and the closely related Dodge Charger four-door sedan are ending their long production runs next year. But Dodge, Stellantis’s American performance car brand, has a few special items in store to mark the occasion as those models rumble off into the sunset. For one
Continue Reading By Anna Bahney, CNN Business If you are feeling the pinch of higher rents, you’re not alone. Nearly 60% of renters saw a rent increase during the past year, while just 38% said they saw their income increase, according to a study from Freddie Mac. And renters were less likely than all employed respondents to
Continue Reading By Catherine Thorbecke, CNN Business Nearly three years after Adam Neumann stepped down as CEO of WeWork following a failed attempt to take the company public, he is said to once again be in charge of a billion-dollar real estate startup. Andreessen Horowitz, the prominent venture capital firm known for its early investments in Twitter
Continue Reading By Peter Valdes-Dapena, CNN Business Dodge, famous for offering cars with big and powerful V8 engines, is phasing out some of its iconic, gas-powered muscle cars in favor of electric power. To ease fans into this new era, the company has opted to mimic some muscle car sensations — including shifting gears and a loud
Continue Reading By Chris Isidore, CNN Business Tesla is celebrating its one millionth car manufactured in China, a major milestone for the electric car company’s global ambitions. But Tesla hasn’t overcome its recent troubles in the country just yet. The one-million milestone news came via a weekend tweet from Tesla CEO Elon Musk. But the China Passenger
Continue Reading By Catherine Thorbecke, CNN Business Nearly three years after Adam Neumann stepped down as CEO of WeWork following a failed attempt to take the company public, he is said to once again be in charge of a billion-dollar real estate startup. Andreessen Horowitz, the prominent venture capital firm known for its early investments in Twitter
Continue Reading By Diksha Madhok, CNN Business The richest man on earth has once again created chaos and commotion on the internet with his tweets. Tesla’s billionaire CEO Elon Musk tweeted late on Tuesday that he was buying Manchester United soccer club. “Also, I’m buying Manchester United ur welcome,” Musk told his 103 million followers on Twitter,
Continue Reading By Ramishah Maruf, CNN The US Department of Labor proposed fines of almost $1.3 million for Dollar General after federal inspectors found workplace violations at three Georgia stores, the agency announced Monday. The DOL said it visited stores earlier this year in Pembroke, Hogansville and Smyrna and saw blocked exit routes, dangerously stacked merchandise boxes
Continue Reading By Jordan Valinsky, CNN Business About 13,000 pounds of frozen pizza made by Home Run Inn Frozen Foods is being recalled because of potential metal contamination. The pizza’s meat topping “may be contaminated with extraneous materials, specifically metal,” the US Department of Agriculture’s Food Safety and Inspection Service said in a release Sunday. Some customers
Continue Reading By Matt McFarland, CNN Business “Full self-driving,” the controversially named driver-assist feature from Tesla, may have finally met its match. Tesla’s foil isn’t a silver-haired US Senator, world-class autonomous driving experts, or some of the country’s preeminent safety advocates. They’ve all warned that “full self-driving” isn’t really full self-driving. The technology is designed to navigate
Continue Reading By Paul R. La Monica, CNN Business Disney wowed Wall Street last week with strong earnings thanks to solid Disney+ subscriber gains and healthy theme park attendance. But that’s not enough to completely win over one activist investor. Third Point has bought a new stake in Disney after selling one off earlier this year, the
Continue Reading By Danielle Wiener-Bronner, CNN Business Starbucks is requesting a suspension of mail-in ballots at unionization votes currently going on at its stores across America. The coffee chain is accusing National Labor Relation Board employees in Kansas and elsewhere of misconduct in handling these mail-in votes, actions it said has skewed results in favor of unionization.
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