Money

WCCO By Jennifer Henderson and Ramishah Maruf, CNN New York (CNN) — Lyft and Uber threatened to stop doing business in Minneapolis after the city council adopted a new rule Thursday that would set a minimum wage for rideshare drivers. In a 7-5 vote, the Minneapolis City Council passed an ordinance that includes a number

By Samantha Delouya, CNN (CNN) — China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday. The beleaguered firm borrowed heavily and defaulted on its debt in 2021, sparking a massive property crisis in China’s economy, which continues to feel the effects. Evergrande filed for Chapter

By Ellie Stevens, CNN (CNN) — Prominent restaurateur and Shake Shack founder Danny Meyer announced he will be closing two New York City restaurants located in a hotel which has been repurposed as a shelter for the city’s growing migrant population. The Redbury Hotel in Manhattan’s NoMad neighborhood began housing migrants earlier this month in

CNN By Nicole Goodkind, CNN New York (CNN) — Shares of Hawaiian Electric Industries tumbled more than 20% on Thursday following a report that the largest power provider in Hawaii could be considering restructuring as it faces an onslaught of costly lawsuits for the role it may have played in Maui’s devastating wildfires. The company’s

By Nicole Goodkind, CNN New York (CNN) — Shares of Hawaiian Electric Industries tumbled more than 20% on Thursday following a report that the largest power provider in Hawaii could be considering restructuring as it faces an onslaught of costly lawsuits for the role it may have played in Maui’s devastating wildfires. The company’s stock

By Brian Fung and Sean Lyngaas, CNN (CNN) — A network of dozens of accounts on Facebook and Instagram have been promoting Russia’s Wagner mercenary group to hundreds of thousands of followers, months after Meta vowed to remove content glorifying the group, according to a new report by disinformation experts. The study found more than

By Peter Valdes-Dapena, CNN (CNN) — Vietnamese electric vehicle company Vinfast is already more valuable than Ford (F) and GM (GM), based on its stock price, despite just entering the US market. But you may not have even heard of it. Here’s what it’s all about, and what’s been happening with it. Enthusiastic investors pushed

By Danielle Wiener-Bronner, CNN New York (CNN) — A New Jersey court ordered Starbucks to pay an additional $2.7 million to a former employee who successfully sued the company for wrongful termination, claiming she was fired for being White. In June, a jury had ruled in favor of Shannon Philips, who worked at Starbucks as

By Tami Luhby and Jordan Valinsky, CNN New York (CNN) — A major California health insurer is shaking up the prescription drug pricing system as it seeks to lower the cost of medication for its 4.8 million members. Blue Shield of California will no longer use CVS Health’s Caremark as its pharmacy benefit manager and

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates surged this week, rising to their highest level in 21 years. The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was

By Jordan Valinsky, CNN Business New York (CNN) — Self-checkout kiosks are invading several chains, like Target and Kroger. However, shoppers won’t see them at Trader Joe’s. In a recent company released podcast, Trader Joe’s President Jon Basalone said a rumor that the quirky grocery chain was adding them was as “false as false can

By Matt Egan, CNN (CNN) — A bad hurricane season could cost Americans at the gas pump. Gas prices climbed to an average of $3.88 a gallon nationally on Thursday, according to AAA. That’s a 10-month high and represents a 31-cent increase from just a month ago. The summertime gas price spike has been driven

By Krystal Hur and Bryan Mena, CNN New York (CNN Business) — Taylor Swift’s era-defining “Eras” tour is flying like a jet stream, high above the music scene — by billions of dollars. The tour could gross $2.2 billion in North American ticket sales alone, according to August survey data from research firm QuestionPro provided

By Catherine Thorbecke, CNN (CNN) — The threat of predatory outsiders swooping in to buy up property under the ashes of Maui is sparking outrage and opening old wounds for locals. “Fear of predatory land grabbers coming in is legitimate because it’s already happening, it’s been happening for generations now,” said Kaniela Ing, a Native

By Clare Duffy and Jeanne Sahadi, CNN New York (CNN) — Anyone in the United States who had a Facebook account in the past 16 years has roughly one week left to file for payment in a data privacy settlement case. Facebook’s parent, Meta, in December agreed to pay $725 million to settle a host

By Nathaniel Meyersohn, CNN New York (CNN) — Target and Home Depot are slumping. But more shoppers are heading to Walmart for groceries and essentials. Walmart’s sales at stores open for at least a year grew 6.4% last quarter from a year ago, including a 24% increase in online sales. Profit grew 6.7% The company

By Tara Subramaniam (CNN) — Tomatoes are off the menu in India as Burger King becomes the latest fast food chain to be impacted by rising prices of the culinary staple. Last month, McDonald’s (MCD) announced that many of its restaurants across the country would be temporarily removing tomatoes from their burgers, citing quality issues

By Michelle Toh, CNN Hong Kong (CNN) — Intel has pulled out of a major acquisition of an Israeli chipmaker after failing to obtain the required regulatory approval. The US tech giant said in a Wednesday statement it would scrap its planned $5.4 billion purchase of Tower Semiconductor (TSEM), saying it had not received the

By Jeanne Sahadi, CNN New York (CNN) — The second quarter of this year was a good one for retirement savers, according to a new analysis from Fidelity Investments. Thanks to continued employee and employer contributions, coupled with an improving market, 401(k) balances rose on average for all age groups not just in the second

By Oliver Darcy, CNN (CNN) — The Marion County Record has been “vindicated.” That is what the weekly newspaper’s publisher, Eric Meyer, told KSHB-TV’s Jessica McMaster on Wednesday, immediately after learning that the top prosecutor in Marion County had withdrawn a search warrant executed on the publication’s office last week — a move that quickly