Opinion by Dana Peterson for CNN Business Perspectives Most recessions in US history have been accompanied by severe job losses and high unemployment rates, but this time may be different. Should a recession take hold in the US, the ongoing labor shortage may be the key to protecting vulnerable workers in what may prove to
Continue Reading By Jackie Wattles, CNN Business Tesla officially announced a three-for-one stock split, meaning the company’s stock price — which has jockeyed between $600 and $1,000 for a year — is about to get more affordable for investors. The stock will begin trading on a split-adjusted basis on August 25th. Tesla shareholders approved the split Thursday
Continue Reading By Clare Duffy, CNN Business Elon Musk’s legal team on Friday made public its official response to Twitter’s lawsuit attempting to force him to complete their $44 billion acquisition deal. In the answer to Twitter’s complaint, which includes counter-claims against the company, Musk’s team attempts to refute the company’s allegations that the Tesla CEO is
Continue Reading Martha C. White for CNN Business Americans piled on $40.1 billion worth of debt in June, the Federal Reserve said Friday afternoon. The figure was considerably higher than economists’ forecasts, after May’s revised total of $23.8 billion. Americans’ borrowing grew by 10.5% in June, compared to 6.3% in May, according to the Fed’s G.19 consumer
Continue Reading By Brian Stelter, CNN Business A Texas jury has decided to penalize Alex Jones with $45.2 million in punitive damages in a lawsuit filed by the parents of Sandy Hook shooting victim Jesse Lewis. Plaintiffs Neil Heslin and Scarlett Lewis were awarded a total of just under $50 million in both compensatory and punitive damages.
Continue Reading By Alicia Wallace, CNN Business The US economy has now regained all jobs lost during the pandemic, after a blowout July jobs report that showed a gain of 528,000 jobs, according to data released Friday by the Bureau of Labor Statistics. The massive monthly gain was more than double the 250,000 that economists were expecting,
Continue Reading By Peter Valdes-Dapena, CNN Business As gas prices rose in the the first three months of 2022, interest among car shoppers in hybrid and electric cars rose right along with it. That’s not too surprising, since so-called “electrified” cars cost less to fuel than gasoline-only cars. And shopping interest in electrified cars also dropped when
Continue Reading By Julia Horowitz, CNN Business After the Federal Reserve’s July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish. After embarking on an aggressive rate-hike spree this year in a bid to fight inflation, the Fed indicated it could downgrade the size of its hikes moving forward. “We’ve been front-end loading
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The state of Missouri officially began its back to school sales tax holiday at 12:01 a.m. Friday morning as the exemption is set to run through Sunday, Aug. 7.
Continue Reading By Jennifer Korn Amazon has agreed to buy iRobot, the maker of the popular Roomba vacuum, in an all-cash deal valued at about $1.7 billion, including debt, the two companies announced Friday. The deal, which is pending approval from shareholders and regulators, has the potential to expand Amazon’s robotics lineup and deepen its presence in
Continue Reading By Rachel Metz, CNN Business Over the past few years, a number of cities and some states enacted rules banning or restricting local police use of facial-recognition software. Now, in a handful of locations around the country, the controversial technology is making a comeback. The city of New Orleans, which in 2020 passed an ordinance
Continue Reading By Oliver Darcy, CNN Business Right-wing talk show host Alex Jones will have to pay the parents of a Sandy Hook shooting victim a little more than $4 million in compensatory damages, a jury decided Thursday, capping a stunning and dramatic case that showcased for the public the real-world harm inflicted by viral conspiracy theories.
Continue Reading By Julia Horowitz, CNN Business For the past year, America has had a glut of open jobs. Restaurants, airlines and retail stores have raced to recruit enough people to meet a surge in demand, dangling sign-on bonuses and more attractive wages. Time after time, they’ve come up short. But as the US economy slows down,
Continue Reading By Tami Luhby, CNN At first glance, it looks like many Americans got big pay raises since the Covid-19 pandemic started. But in reality, only workers in two industries — leisure and hospitality and retail trade — are actually coming out ahead, once inflation is taken into account. Overall, wages and salaries for private industry
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COLUMBIA, Mo. (KMIZ.) Plant-based food company Beyond Meat announced it’s laying off 40 people after a multi-million dollar loss, but the company didn’t say if the layoffs would affect the company’s Columbia plant. In a press release, the company reported its second largest quarter ever in terms of money made in the second quarter of 2022,
Continue Reading Martha C. White for CNN Business Americans piled on $40.1 billion worth of debt in June, the Federal Reserve said Friday afternoon. The figure was considerably higher than economists’ forecasts, after May’s revised total of $23.8 billion. Americans’ borrowing grew by 10.5% in June, compared to 6.3% in May, according to the Fed’s G.19 consumer
Continue Reading By Gabe Cohen, CNN There are medicines that Angelina Scott can’t live without. Between her Atrial Fibrillation, high blood pressure and high cholesterol, the 45-year-old notary is currently taking five prescriptions. “You can’t tell your heart, please don’t stop beating,” Scott told CNN. But with sky high inflation and hundreds of dollars in monthly medical
Continue Reading By Gabe Cohen, CNN There are medicines that Angelina Scott can’t live without. Between her Atrial Fibrillation, high blood pressure and high cholesterol, the 45-year-old notary is currently taking five prescriptions. “You can’t tell your heart, please don’t stop beating,” Scott told CNN. But with sky high inflation and hundreds of dollars in monthly medical
Continue Reading By Frank Pallotta, CNN Business In November 2019, Disney debuted Disney+, kicking off the so-called streaming wars and prompting companies across the media world to spend billions of dollars to launch services to take on Netflix. Netflix was seen as the existential threat to the legacy media industry, so following its lead on subscriber growth
Continue Reading By Frank Pallotta, CNN Business HBO Max and Discovery+ are finally joining forces. The long-awaited merger of the two services will debut in the US next summer before being rolled out overseas, Warner Bros. Discovery announced on Thursday during its second quarter earnings call. The company did not say if the new offering would have
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