Money

By Alicia Wallace, CNN Minneapolis (CNN) — Wholesale inflation continued its yearlong slowdown last month, rising by just 0.1% for the 12 months ended in June, according to the Bureau of Labor Statistics’ Producer Price Index released Thursday. The PPI index, a key inflation gauge that tracks the average change in prices that businesses pay

By Hanna Ziady, CNN London (CNN) — Remote work risks wiping $800 billion from the value of office buildings in major cities worldwide by 2030 as the post-pandemic trend pushes up office vacancy rates and drives down rents, according to a new report. Office attendance has stabilized at 30% below pre-Covid norms and only 37%

By Chris Isidore, CNN New York (CNN) — A union representing about 160,000 Hollywood actors is going on strike after talks with major studios and streaming services have failed. It is the first time its members have stopped work on movie and television productions since 1980, after a final day of negotiations on Wednesday did

By Michelle Toh, CNN Hong Kong (CNN) — Foxconn says it is exiting an ambitious project to help build one of India’s first chip factories. The world’s largest contract electronics maker will “no longer move forward” with its $19.4 billion joint venture with Vedanta (VEDL), an Indian metals and energy conglomerate, in Asia’s third largest

By Chris Isidore, CNN New York (CNN) — Some very famous faces are once again less than a day away from hitting the picket lines as the union representing about 160,000 actors prepares to possibly go on strike against major studios and streaming services. The current contract for the Screen Actors Guild-American Federation of Television

By Oliver Darcy, CNN (CNN) — Three former high-ranking Fox executives are blasting Rupert Murdoch for Fox News’ role spreading disinformation in the public discourse. In a joint statement published Wednesday, the executives — Preston Padden, Ken Solomon, and Bill Reyner — expressed profound regret for their roles helping Murdoch build Fox in its early

By Catherine Thorbecke, CNN (CNN) — Elon Musk on Wednesday announced the formation of a new company focused on artificial intelligence, after months of teasing plans to build a rival to ChatGPT. The company, called xAI, unveiled a website and a team of a dozen staffers. The new company will be led by Musk, according

CNN, KGO By Jordan Valinsky, CNN New York (CNN) — Pour one out for Anchor Brewing: America’s oldest craft brewer is shutting down after 127 years in business. The San Francisco-based company announced Wednesday it’s ceasing operations and liquidating the beloved business “following a combination of challenging economic factors and declining sales since 2016,” a

By Brian Fung, CNN (CNN) — The Federal Trade Commission on Thursday filed its appeal of a federal judge’s decision earlier this week allowing Microsoft to close its $69 billion merger with Activision Blizzard. The legal filing comes after the FTC’s failed effort to block the deal over allegations that the merger would harm competition

By Elisabeth Buchwald, CNN New York (CNN) — Jamie Dimon isn’t sold on “Bidenomics.” “I’d be careful about that,” said Dimon, CEO of JPMorgan Chase, in reference to president Joe Biden’s economic theory that rejects “trickle-down” policies in favor of focusing on the middle class. The president claims that middle-class focus is the driving force

By Jordan Valinsky, CNN Business New York (CNN) — Pour one out for Anchor Brewing: America’s oldest craft brewer is shutting down after 127 years in business. The San Francisco-based company announced Wednesday it’s ceasing operations and liquidating the beloved business “following a combination of challenging economic factors and declining sales since 2016,” a press

By Clare Duffy, CNN New York (CNN) — A former Twitter employee on Wednesday filed a new lawsuit against Twitter and its owner, Elon Musk, alleging that the company failed to provide the full amount of severance it had promised employees prior to mass layoffs last November. The lawsuit, which was filed in federal district

CNN By Elisabeth Buchwald, CNN New York (CNN) — Inflation cooled for the 12th consecutive month in June, moving to 3% from 4% in May, according to the latest Consumer Price Index data from the Labor Department. But last month’s inflation report was an outlier — for the first time, the declines weren’t immediately preceded

CNN By Matt Egan, CNN Business New York (CNN Business) — America’s emergency oil stockpiles have plunged to 40-year lows under President Joe Biden as US officials have sought to cushion consumers from high gas prices. In an interview with CNN Tuesday, Energy Secretary Jennifer Granholm vowed to refill the depleted Strategic Petroleum Reserve, a

CNN By Krystal Hur and Bryan Mena, CNN (CNN) — Wall Street bankers, investors and economists have for months waffled over whether a US recession is coming. But for some Americans, the unforgiving economic pain typical during recession has already set in. Al Brown and his fiancée faced a tough call in May when reviewing

By Jordan Valinsky, CNN Business New York (CNN) — Domino’s Pizza has long been a holdout of using third-party delivery apps in the United States. But now, the pizza chain has struck a deal with one of the world’s largest food delivery services. Customers can soon order Domino’s full menu on Uber Eats and Postmates,

CNN By Kocha Olarn and Michelle Toh, CNN Bangkok (CNN) — Burger King is causing a stir in Thailand with its new offering: a burger with no meat and a jaw-dropping amount of cheese. This week, the Thai operator of the fast food chain introduced what it calls the “real cheeseburger,” a bun filled with

CNN By Wayne Sterling, CNN (CNN) — Prior to a truce between the PGA Tour and LIV Golf last month, an adviser to the Saudi Public Investment Fund proposed that Tiger Woods and Rory McIlroy could own LIV Golf teams and play in the Saudi-backed tour, according to a 276-page report released by the US

By Matt Egan, CNN Business New York (CNN Business) — More than 1,000 major companies pledged to leave Russia after Vladimir Putin launched his devastating war in Ukraine, but some well-known firms stand accused by researchers of violating their pledge. Not every company on the list left, but more than 1,000 exited. That unprecedented corporate