Skip to Content
By Nathaniel Meyersohn, CNN New York (CNN) — Kroger and other chains say customers on food assistance programs like SNAP are struggling as aid shrinks. “Budget-conscious households are buying fewer items, particularly as SNAP benefits declined during the quarter,” said Kroger (KR) CEO Rodney McMullen on an earnings call Thursday. “In some cases, we see
Continue ReadingBy Jordan Valinsky, CNN New York (CNN) — College interns typically find cheap places to live for the summer. One woman is going to great lengths to do that. South Carolina resident Sophia Celentano commutes to her New Jersey summer internship by plane, weekly, revealing on her TikTok account that it’s actually cheaper than renting
Continue ReadingBy Peter Valdes-Dapena, CNN Business (CNN) — There are about 150,000 public electric vehicle chargers of various sorts in the United States, according to a recent report by S&P Global Mobility. If you think that sounds like a lot, you have no idea what’s on the way. By 2030, there will need to be more
Continue ReadingBy Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates ticked down this week for the second week in a row, as investors absorbed the Federal Reserve’s expected pause on raising the federal funds rate after 10 consecutive rate hikes. The 30-year fixed-rate mortgage averaged 6.69% in the week ending June 15, down from 6.71%
Continue ReadingBy Brian Fung, CNN Washington (CNN) — The Senate Judiciary Committee advanced legislation on Thursday that would give news organizations the power to jointly bargain against Meta, Google and other online platforms for a greater share of online advertising revenue. The legislation would create an antitrust exemption allowing radio and TV broadcasters, as well as
Continue ReadingCNN By Hanna Ziady, CNN London (CNN) — The European Union took a major step Wednesday toward setting rules — the first in the world — on how companies can use artificial intelligence. It’s a bold move that Brussels hopes will pave the way for global standards for a technology used in everything from chatbots
Continue ReadingCNN By Kara Scannell, CNN New York (CNN) — FTX founder Sam Bankman-Fried will have his criminal trial split into two separate proceedings, a judge ruled Thursday, granting a request from prosecutors who worried that five of the 13 charges could be held up by a Bahamian court’s review. The move is a small win
Continue ReadingBy Jeanne Sahadi, CNN New York (CNN) — The average balance in employer-sponsored savings plans last year was $112,572, well below the $141,542 recorded in 2021. That’s according to the latest annual report, “How America Saves,” from investment firm Vanguard, which serves as record keeper for defined contribution plans that, combined, have nearly 5 million
Continue ReadingBy Brian Fung, CNN Washington (CNN) — Music publishers sued Twitter for more than $250 million in damages on Wednesday, alleging that the social media platform “breeds massive copyright infringement that harms music creators.” The lawsuit alleges that for years, Twitter has allowed users of its platform to share copyrighted songs without a license. It
Continue ReadingBy Bryan Mena, CNN Washington, DC (CNN) — Spending at US retailers rose last month, in a sign that consumers are still fueling the economy. Retail sales at stores, online and in restaurants grew 0.3% in May from April, the Commerce Department reported on Thursday. That’s above economists’ expectations of a 0.1% decline, according to Refinitiv.
Continue ReadingBy Hanna Ziady, CNN London (CNN) — The European Central Bank raised interest rates by a quarter of a percentage point Thursday and signaled another hike to come next month, unmoved by evidence of a mild recession in the 20 countries that use the euro. The ECB has now hiked rates at eight consecutive meetings
Continue ReadingCNN By Hanna Ziady, CNN London (CNN) — The European Union took a major step Wednesday toward setting rules — the first in the world — on how companies can use artificial intelligence. It’s a bold move that Brussels hopes will pave the way for global standards for a technology used in everything from chatbots
Continue ReadingBy Hanna Ziady, CNN London (CNN) — The European Union took a major step Wednesday toward setting rules — the first in the world — on how companies can use artificial intelligence. It’s a bold move that Brussels hopes will pave the way for global standards for a technology used in everything from chatbots such
Continue ReadingBy Kara Scannell, CNN New York (CNN) — FTX founder Sam Bankman-Fried will have his criminal trial split into two separate proceedings, a judge ruled Thursday, granting a request from prosecutors who worried that five of the 13 charges could be held up by a Bahamian court’s review. The move is a small win for
Continue ReadingBy Anna Cooban, CNN London (CNN) — Swedish consumers now have Beyoncé to blame for their bills, bills, bills. The chief economist at Danske Bank, the biggest bank in neighboring Denmark, said Wednesday that the singer’s decision to kick off her “Renaissance” world tour in Stockholm last month led to a surge in hotel and
Continue ReadingBy Michelle Toh, CNN Hong Kong (CNN) — China trimmed another key interest rate Thursday — the second cut this week — after a series of official data painted a gloomy picture of the post-Covid recovery in the world’s second largest economy. The People’s Bank of China lowered its key policy rate — the medium-term
Continue ReadingBy Sam Fossum, CNN (CNN) — President Joe Biden announced from a White House roundtable on Thursday that entertainment giant Live Nation (LYV) and ticketing behemoth Ticketmaster have pledged to give US consumers the ability to see the full price of tickets up front, minimizing the frequently frustrating experience of watching additional fees add up
Continue ReadingBy Vanessa Yurkevich, CNN (CNN) — The Pacific Maritime Association and the International Longshore and Warehouse Union reached a tentative agreement Wednesday after more than a year of negotiations. The contract between the two expired July 1, 2022 and 22,000 dockworkers have been working in good faith for nearly a year as the two sides
Continue ReadingCNN By Elisabeth Buchwald, CNN New York (CNN) — If inflation falls to 2% by the end of this year, that means the cost of everything will no longer be going up, right? Wrong. But that’s what the majority of UK residents think, according to a new survey from polling group Survation. What’s more, almost
Continue ReadingBy Elisabeth Buchwald, CNN New York (CNN) — The Federal Reserve is taking its first pit stop after 10 consecutive rate hikes aimed at bringing inflation down from what was a 40-year record high. Fed Chair Jerome Powell said the rate hike pause will give officials more time to evaluate the effects rate hikes have
Continue Reading