Money

By Alicia Wallace, CNN (CNN) — The Federal Reserve’s favored inflation gauge just moved in the wrong direction. It comes as President-elect Donald Trump promises massive tariffs that could push the cost of living even higher. The Personal Consumption Expenditures price index rose 2.3% in October from the year before, accelerating from the 2.1% pace

By Jordan Valinsky, CNN New York (CNN) — Conor McGregor will no longer be the face of the popular Irish whiskey brand that he helped create. Proper No. Twelve dropped McGregor after he was found liable in a sexual assault case. Proximo Spirits, the distributor and owner of Proper No. Twelve, said in a statement

By Anna Cooban, CNN London (CNN) — Volkswagen has sold its plant in Xinjiang, a region in northwestern China beset by accusations of human rights abuses, citing “economic reasons.” “There is no business case for (the plant),” said a spokesperson, noting that it produced combustion engine vehicles until 2019 and, since then, has effectively operated

By Hadas Gold and Rene Marsh, CNN (CNN) — When President-elect Donald Trump said Elon Musk and Vivek Ramaswamy would recommend major cuts to the federal government in his administration, many public employees knew that their jobs could be on the line. Now they have a new fear: becoming the personal targets of the world’s

By Hanna Ziady, CNN London (CNN) — The chief executive of the company behind Ikea furniture stores says tariffs make it more difficult to keep its prices low, joining a growing chorus of business leaders in warning of a potential hit to people’s wallets from Donald Trump’s planned import levies. “In general, we don’t believe

By Ramishah Maruf, CNN New York (CNN) — Many Americans spend Thanksgiving with their loved ones over a home-cooked meal. But some may also remember lining up to score Black Friday deals and discounts on Thanksgiving evening. However, this changed in 2020, when many stores opted to stay closed to limit crowding during the pandemic

By Chris Isidore, CNN New York (CNN) — President-elect Donald Trump is vowing to protect American-made cars through steep tariffs on imports. The problem is, there is no such thing as an all-American car. Trump has promised that tariffs, which are a tax on goods that are imported from another country, will be a key

By Rosa de Acosta, CNN Hong Kong (CNN) — President-elect Donald Trump took to social media on Monday to promise massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his second term. He had already vowed on the campaign trail to impose new tariffs on all

By Ramishah Maruf, CNN New York (CNN) — Yet another fast food CEO is stepping down. Subway announced Tuesday that its CEO, John Chidsey, will retire at the end of 2024. Executive Carrie Walsh will replace him as interim CEO. Chidsey, the first chief executive outside of the chain’s founding family, joined Subway as CEO

By Liam Reilly, CNN New York (CNN) — A majority of social media influencers don’t verify information before sharing it with their audiences, a study published Tuesday by the UN’s scientific and cultural arm found, underscoring concerns that some of the biggest online figures can uncritically spread misleading claims. According to the UNESCO study, 62%

By Elisabeth Buchwald, CNN New York (CNN) — During President-elect Donald Trump’s first term, America launched an all-out trade war with China to boost US manufacturing, secure US national security interests and resolve what Trump believed was an extremely out-of-balance trade relationship. President Joe Biden kept most of those tariffs in place and added a

By Chris Isidore, CNN New York (CNN) — If you’re flying this holiday season and you’re noticing the plane feels more packed, while your wallet feels thinner, there’s a reason for that. A record 31 million passengers are expected to fly US airlines over the course of this week, according to Airlines for America, the

By Samantha Delouya, CNN (CNN) — If the Senate confirms Scott Turner as secretary for the Department of Housing and Urban Development, he will take over responsibility for America’s largest housing agency at a time when the nation’s home affordability needs are in hyper-focus. Donald Trump ran on the promise of steep government budget cuts,

By Jordan Valinsky, CNN New York (CNN) — Disney has agreed to pay $43 million to settle a lawsuit that it paid female employees less than their male counterparts in similar roles for nearly a decade. The settlement agreement, reached Monday, stems from a 2019 lawsuit filed by LaRonda Rasmussen. She claims she learned that

By Matt Egan, CNN New York (CNN) — In 2018, Bobby Djavaheri feared his family’s appliance business faced an existential threat from the Trump administration’s tariffs on Chinese air fryers. Djavaheri, president of Yedi Houseware Appliances, consulted with a customs attorney and applied for a tariff exclusion with the United States Trade Representative to avoid

By Pete Muntean, CNN (CNN) — Airlines have pocketed billions of dollars in so-called “junk fees” by charging customers extra to select a seat or to carry on bags, according to a Senate subcommittee report published on Tuesday. The report said some airlines have even paid workers cash incentives to identify customers trying to avoid

By Juliana Liu and Hassan Tayir, CNN Hong Kong (CNN) — Huawei has unveiled a new flagship phone boasting entirely homegrown software that aims to give users an alternative to Google’s Android or Apple’s iOS, in another effort by the Chinese tech giant to defend against possible further sanctions by Washington. The new Mate 70

By Nathaniel Meyersohn, CNN New York (CNN) — Walmart, the largest private employer in the United States, will curb some diversity, equity and inclusion (DEI) efforts. It’s the latest company to backtrack on diversity initiatives in the face of right-wing pressure, and its decisions will reverberate across corporate America. The company said Monday it is