CNN – Business/Consumer

By Yoonjung Seo and Diksha Madhok, CNN Seoul (CNN) — A labor union at Samsung Electronics in South Korea said many workers went on strike Friday, marking the first such walkout in the smartphone and chipmaking giant’s 55-year history. The Nationwide Samsung Electronics Union (NSEU) said last week that its 28,000 members — just under

By Oliver Darcy, CNN (CNN) — Right-wing conspiracy theorist Alex Jones on Thursday moved to liquidate his personal assets, agreeing to demands from the families of Sandy Hook victims whom he owes more than $1.5 billion in damages over his lies about the 2012 school massacre. The seismic move paves the way for a future

By Jon Passantino, Oliver Darcy and Hadas Gold, CNN (CNN) — William Lewis, the new publisher and chief executive of The Washington Post, reportedly tried to kill a story about his alleged involvement in a UK phone hacking scandal coverup, offering an NPR reporter an interview in exchange for squashing the forthcoming article. The decade-old UK scandal that engulfed

By Parija Kavilanz, CNN New York (CNN) — American households want the biggest bang for their buck right now when they pull their wallets out to shop. That doesn’t mean they want something cheap all the time. They’ve been paying more for goods and services for a while because of higher inflation that stubbornly stuck

By Hadas Gold, CNN (CNN) — The Israeli government is seeking to extend its controversial ban on the Al Jazeera news network in the country, after a court upheld the ban but shortened it by 10 days. In May, Israel banned the Qatari-based news network from operating in the country for 45 days under a sweeping new wartime law that allows the Israeli government to ban foreign media

By David Goldman, CNN (CNN) — Rachel Smolkin, a veteran media executive who leads CNN’s global digital news, is departing the network to become the next president and CEO of Oregon Public Broadcasting. OPB called Smolkin a forward-thinking journalist and a strong business strategist who can help lead the 100-year-old public media organization through a

By Jordan Valinsky, CNN New York (CNN) — Red Lobster wants to close several dozen more restaurants following its bankruptcy, and it has identified which ones are in danger of shutting down if the court approves its plan. The chain, which brought affordable shrimp and lobster to middle-class America and grew to become the largest

By Alicia Wallace, CNN (CNN) — The US job market showed a softer side in April when just 175,000 jobs were added, marking one of the weakest months in the past three years. It was also well shy of economists’ expectations (for 235,000 jobs added) and sharply lower than the 315,000 net gain for March.

By Hanna Ziady, CNN London (CNN) — The European Central Bank cut interest rates Thursday, moving before the US Federal Reserve and the Bank of England to lower borrowing costs as inflation recedes following years of rate hikes. The first ECB rate cut in nearly five years takes the benchmark rate in the 20 countries

By Brian Fung, CNN Washington (CNN) — The Federal Trade Commission is investigating a recent Microsoft deal with artificial intelligence startup Inflection, according to a person familiar with the matter, as US antitrust regulators ramp up scrutiny of the red-hot AI industry. Microsoft announced in March that it had hired Inflection’s co-founders and a number of its

By Parija Kavilanz, CNN New York (CNN) — In Florida, a handful of dead mall anchor Sears stores, left vacant and unmoored by the iconic retailer’s bankruptcy six years ago, are being jolted back to life. They won’t be resurrected into new stores, but they’re definitely being primed, one company hopes, to pull in plenty

By Chris Isidore, CNN New York (CNN) — Walmart, America’s largest private-sector employer, is starting a bonus program for its hourly employees. The company said on Wednesday that the program will be aimed at rewarding employees who stay with the company long-term, with employees able to earn up to a maximum of $1,000 for those

By Nicole Goodkind, CNN New York (CNN) — Texas’ famous longhorns are coming for Wall Street’s bulls. A new national stock exchange, based in Dallas, and backed by Wall Street heavyweights like BlackRock and Citadel Securities, is looking to take on the world-famous New York Stock Exchange and Nasdaq. The newly formed TXSE Group announced

By Nicole Goodkind, CNN New York (CNN) — Nvidia, Wall Street’s favorite artificial intelligence darling, is continuing to swell to staggering heights. The AI chipmaker’s market capitalization rose to $3.019 trillion on Wednesday, nudging slightly past Apple’s also $2.99 trillion market cap and making it the second-largest publicly traded company in the US by that

By Brian Fung, CNN (CNN) — A Palestinian-American engineer has sued the social media giant Meta, accusing his former employer of discriminating against pro-Palestinian speech on its platforms and of wrongfully firing him after he investigated the issue as part of his official duties. The lawsuit by Ferras Hamad — a Meta engineer assigned to

By Ramishah Maruf, CNN New York (CNN) — Banknotes featuring King Charles III entered circulation in the United Kingdom on Wednesday. The Bank of England said Charles is only the second monarch, after his late mother, Queen Elizabeth II, to appear on banknotes issued by the BoE. It’s also the first time the bank has