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By Chris Isidore, CNN New York (CNN) — Fewer employers looking for workers means 270 employees at job search site ZipRecruiter will soon be out of a job. The company is cutting 20% of its staff by the end of this month, the company disclosed in a filing late Wednesday. “This action was taken in
Continue ReadingBy Nimi Princewill, CNN Abuja, Nigeria (CNN) — Fuel prices have nearly tripled in Nigeria after the country’s new President Bola Tinubu said his administration would no longer subsidize gasoline for citizens of Africa’s largest oil producer. In a seemingly off-the-cuff remark during his inaugural speech Monday, Tinubu declared, “the fuel subsidy is gone,” adding
Continue ReadingBy Catherine Thorbecke, CNN New York (CNN) — An eating disorder prevention organization said it had to take its AI-powered chatbot offline after some complained the tool began offering “harmful” and “unrelated” advice to those coming to it for support. The National Eating Disorders Association (NEDA), a nonprofit organization aimed at supporting people impacted by
Continue ReadingBy Nathaniel Meyersohn, CNN New York (CNN) — Macy’s, Costco and other big chains say shoppers are pulling back at their stores and changing what they buy. That could be a red flag for the US economy. Macy’s (M) on Thursday cut its annual profit and sales forecast after customer demand slowed. “The US consumer,
Continue ReadingBy Jordan Valinsky, CNN Business New York (CNN) — Sean “Diddy” Combs is suing Diageo for racial discrimination, claiming that the spirits company that produces DeLeón — the tequila he co-owns with the company — failed to market DeLeón on par with its other brands, including Don Julio and George Clooney’s Casamigos brands. In a
Continue ReadingBy Alicia Wallace, CNN Minneapolis (CNN) — Areas of the US economy have started to crack under the weight of persistently high inflation and a string of 10 consecutive rate hikes from the Federal Reserve. But despite all that, the labor market has kept humming right along. And that’s largely expected to be the case,
Continue ReadingCNN By Jordan Valinsky, CNN Business New York (CNN) — Sean “Diddy” Combs is suing Diageo for racial discrimination, claiming that the spirits company that produces DeLeón — the tequila he co-owns with the company — failed to market DeLeón on par with its other brands, including Don Julio and George Clooney’s Casamigos brands. In
Continue ReadingBy Chris Isidore, CNN New York (CNN) — Hurricane season officially starts Thursday. But no matter how many storms hit Florida this year, the state’s residents are already struggling as they try to get homeowners’ insurance. National insurers have very little presence in Florida. Big insurance companies dominate more than half the market in the
Continue ReadingCNN By Danielle Wiener-Bronner, CNN New York (CNN) — Companies have long embraced Pride Month in June as an uncomplicated way to market to members of the LGBTQ+ community while telegraphing progressive values. But this year won’t be nearly so straightforward. In recent weeks, two major brands, Target (TGT) and Bud Light, were targeted by
Continue ReadingBy Danielle Wiener-Bronner, CNN New York (CNN) — Companies have long embraced Pride Month in June as an uncomplicated way to market to members of the LGBTQ+ community while telegraphing progressive values. But this year won’t be nearly so straightforward. In recent weeks, two major brands, Target (TGT) and Bud Light, were targeted by right-wing
Continue ReadingBy Hanna Ziady, CNN London (CNN) — Inflation in Europe has fallen to its slowest pace since Russia invaded Ukraine, bolstering the case for the region’s central bank to bring interest rate hikes to an end soon. Consumer prices in the 20 countries that use the euro rose 6.1% last month compared with a year
Continue ReadingBy Lauren del Valle, CNN New York (CNN) — JPMorgan Chase CEO Jamie Dimon has denied knowing about internal reviews of Jeffrey Epstein’s criminal conduct and his account with the bank when they were happening. Dimon made the remarks in a deposition for lawsuits against the bank related to its alleged role in Epstein’s sex
Continue ReadingBy Laura He, CNN Hong Kong (CNN) — A key gauge of China’s small- and medium-sized factories showed their surprise return to expansion last month, which eased market anxiety about growth stalling in the world’s second largest economy. Asian markets mostly rose Thursday following the release of the data, with sentiment also boosted by abating
Continue ReadingBy Laura He, CNN Hong Kong (CNN) — One of China’s top tech bankers, who went missing in February, has been in the custody of the country’s top anti-graft watchdog since his disappearance and has had his detention extended, according to a state media report. The Economic Observer, a well regarded financial publication, reported that
Continue ReadingBy Michelle Toh, CNN Hong Kong (CNN) — Elon Musk has reclaimed his position as the world’s wealthiest person. That’s according to a Bloomberg Billionaires tally, which estimated the Tesla (TSLA) CEO’s net worth is now about $192 billion, compared to LVMH (LVMHF) CEO Bernard Arnault’s $187 billion. The two centibillionaires, a term used to
Continue ReadingBy Samantha Delouya, CNN (CNN) — Meta, the parent company of Facebook and Instagram, threatened to remove news from its social media sites in California if the state passes a bill requiring big tech companies to pay news outlets for their content. In a statement posted on Twitter, Andy Stone, Meta’s communications director, called California’s
Continue ReadingBy Chris Isidore, CNN (CNN) — A federal judge rejected arguments from attorneys for Boeing that it should not have to pay for the pain and suffering of 157 victims of a March 2019 Boeing 737 Max crash because they all died on impact. Federal Judge Jorge Alonso, who will preside over the trial due
Continue ReadingBy Parija Kavilanz, CNN New York (CNN) — Weddings are back, in full force. That’s the good news. But engaged couples will pay a tad more to get hitched in 2023. The average cost of a wedding, nationally, this year is $29,000, up $1,000 from 2022, according to online wedding planning site Zola. And in
Continue ReadingCNN By Bryan Mena, CNN Washington, DC (CNN) — President Joe Biden and House Republicans have finally agreed on a deal to raise the government’s debt ceiling, including changes to the federal budget in a number of areas. Analysts say the agreement could have only marginal effects on the US economy. That’s based on various
Continue ReadingBy Bryan Mena, CNN Washington, DC (CNN) — President Joe Biden and House Republicans have finally agreed on a deal to raise the government’s debt ceiling, including changes to the federal budget in a number of areas. Analysts say the agreement could have only marginal effects on the US economy. That’s based on various estimates
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