Money

By Eva Rothenberg, CNN (CNN) — Former Tyson Foods executive Stewart Glendinning will be the new CEO of clothing company Express, replacing Timothy Baxter, effective September 15, the company announced. “The Express Board is confident that (Glendinning) is the right person to reinvigorate performance and build the strongest possible foundation on which Express can succeed,”

By Chris Isidore, CNN Lordstown, Ohio (CNN) — The massive Lordstown Assembly factory in Ohio, nearly the size of the Pentagon, more than 50 years old and nearly empty, is a reminder of the past strength of both General Motors and the United Auto Workers union. The much smaller, new electric vehicle battery factory next

By Jeanne Sahadi, CNN New York (CNN) — US work culture revolves around employees putting in eight hours a day, five days a week — a schedule immortalized by Dolly Parton in her 1980 song “9 to 5.” It’s just the norm, many assume. Same as it ever was. Except, it wasn’t always so. It

By Ramishah Maruf, CNN New York (CNN) — The Queen, better known as Beyoncé, had a dress code in mind for Renaissance tour concert goers attending her “House of Chrome,” as she described her concerts. The superstar made a last-minute request on Aug. 23 on her website to wear silver at the Renaissance Tour in

By Samantha Delouya, CNN (CNN) — The Walt Disney Company agreed to pay $9.5 million to settle a class-action lawsuit that accused the entertainment giant of “deceptive business practices” in regard to its Disneyland annual pass program, according to a court filing Thursday. The federal lawsuit filed in California alleged that some of Disneyland’s “Magic

By Allison Morrow, CNN New York (CNN) — Flexport founder Ryan Petersen said his supply chain management firm would rescind dozens of job offers just days before many applicants were scheduled to start work — a move that followed a dramatic leadership shakeup this week. “I am deeply sorry to those people who were expecting

By Ramishah Maruf, CNN New York (CNN) — CPAP sleep apnea machine maker Philips Respironics agreed to pay at least $479 million in a settlement over alleged health risks from toxic sound reducing foam, lawyers for the plaintiff announced Thursday. The settlement will go toward users who bought or rented the recalled devices and those

By Matt Egan, CNN New York (CNN) — The US Energy Department has issued an emergency order aimed at keeping the lights on in Texas as the state’s power grid grapples with surging demand amid record-high temperatures. The order, issued Thursday night, could allow Texas power plants to surpass pollution limits through Friday night to

By Nathaniel Meyersohn, CNN New York (CNN) — LGBTQ dating app Grindr ended its remote work policies and forced employees to relocate. Nearly half of its staff left. In early August, Grindr announced a return-to-office mandate. The policy gave workers two weeks to choose between relocating to their respective team’s newly assigned “hub” city to

By Samantha Murphy Kelly, CNN Business (CNN) — Apple is set to unveil the iPhone 15 in just a few days, and it’s widely expected to come with a significant change. The iPhone 15 is heavily rumored to ditch Apple’s proprietary Lightning charger in favor of USB-C charging, marking a milestone for the company by

By Mark Thompson and Michelle Toh, CNN London (CNN) — Workers at Chevron’s liquified natural gas facilities in Australia have begun to walk off the job in a dispute that threatens as much as 7% of global supplies and could add to rising pressure on energy prices. Talks aimed at resolving the dispute over pay

By Laura He, CNN Hong Kong (CNN) — Norges Bank Investment Management (NBIM), which operates the world’s largest sovereign wealth fund, has started the process of closing down its office in Shanghai, in another sign of big global companies pulling back operations in the world’s second largest economy. The firm, which manages Norway’s $1.4 trillion

By Rob McLean, CNN New York (CNN) — Square, the digital payments company, experienced outages on several services Thursday. “We are currently experiencing issues with multiple Square services. We understand how important it is for your business that our services be up and running, and we are actively working toward a fix,” the company tweeted

CNN By Laura He, CNN Hong Kong (CNN) — China’s exports of two rare minerals essential for manufacturing semiconductors fell to zero in August, a month after Beijing imposed curbs on sales overseas, citing national security. China produces about 80% of the world’s gallium and about 60% of germanium, according to the Critical Raw Materials

By Juliana Liu and Yoonjung Seo, CNN Hong Kong/Seoul (CNN) — SK Hynix, a South Korean chipmaker, is investigating how two of its memory chips mysteriously ended up inside the Mate 60 Pro, a controversial smartphone launched by Huawei last week. Shares in Hynix fell more than 4% on Friday after it emerged that two

By Laura He, CNN Hong Kong (CNN) — Chinese makers of electric vehicles have come out in force for this week’s IAA Mobility auto show in Munich, Germany. About 50 companies — including heavyweight BYD and upstarts like Xpeng — have traveled to the city, according to China’s state media, about twice as many as

By Sara Smart, CNN (CNN) — Tortilla chip brand Paqui says it is voluntarily removing its ultra-spicy “One Chip Challenge” from shelves after a Massachusetts family claims their 14-year-old son may have died from complications from the challenge. Authorities have not confirmed or commented on whether consumption of the chips caused the teen’s death. Paqui

By Samantha Delouya, CNN (CNN) — Walt Disney Parks and Resorts has amended its lawsuit against Florida Governor Ron DeSantis and his hand-picked oversight board, dropping all of its claims except one. The lawsuit, filed in federal court, now focuses solely on the claim that DeSantis and his allies allegedly weaponized their political power to

By Kara Scannell, CNN New York (CNN) — Ryan Salame, a former top executive of FTX, the now-bankrupt cryptocurrency trading platform, has pleaded guilty to criminal charges in a New York courtroom on Thursday afternoon. He has also agreed to forfeit $1.5 billion. The plea comes less than one month before Sam Bankman-Fried, co-founder of