Money

By Nathaniel Meyersohn and Jordan Valinsky, CNN New York (CNN) — Saks Fifth Avenue and Neiman Marcus are merging to create a luxury department store empire. And Amazon wants to help. Saks owner HBC announced a deal Thursday to acquire Neiman Marcus for $2.65 billion, establishing a luxury behemoth called Saks Global that has the

By Alicia Wallace, CNN (CNN) — Welcome to the “steady-as-she-goes” US labor market: Halfway through 2024, job gains are cooling slightly but overall employment activity remains solidly stable. The US economy added 206,000 jobs in June, the Bureau of Labor Statistics reported Friday, easing from a downwardly revised May tally of 215,000 jobs. The unemployment

By Laura He, CNN Hong Kong (CNN) — For the first time ever, Tesla cars have been placed on a Chinese government purchase list, according to state-owned media outlet Paper.cn. Tesla is the only foreign-owned EV car brand on the purchase catalog published by the government of Jiangsu province in eastern China. The other brands

By Alicia Wallace, CNN (CNN) — The US labor market has held its own despite swirling forces — high inflation, an aggressive interest-rate-hiking campaign, pandemic aftershocks and geopolitical uncertainty — that seemed all but certain to trigger a recession. Monthly job gains have frequently come in stronger than expected, and unemployment has held at or

By Jordan Valinsky, CNN New York (CNN) — Beer and hot dogs are as patriotic as it gets. But cracking open the cooler at your July 4th barbecue, you could be seeing fewer brews, with alternatives like spiked seltzers, canned cocktail and hard teas stealing their real estate. And you can blame the youngs for

By Hanna Ziady and Nadine Schmidt, CNN London/Berlin (CNN) — Germany has blocked the sale of a Volkswagen subsidiary to China on national security grounds, delivering a fresh blow to the already tense relationship with its biggest trading partner. MAN Energy Solutions, part of the Volkswagen Group, said in June 2023 that it planned to

CNN By Gregory Wallace, CNN (CNN) — A former Boeing quality-control manager alleges that for years workers at its 787 Dreamliner factory in Everett, Washington, routinely took parts that were deemed unsuitable to fly out of an internal scrap yard and put them back on factory assembly lines . In his first network TV interview, Merle

By Samantha Waldenberg, CNN (CNN) — The ABC News interview with President Joe Biden will now air “in its entirety as a primetime special” on Friday evening at 8:00 P.M. ET/PT, the network announced Wednesday evening. The high-profile interview will be the first televised interview the president is expected to participate in since his poor

By Gregory Wallace, CNN (CNN) — A former Boeing quality-control manager alleges that for years workers at its 787 Dreamliner factory in Everett, Washington, routinely took parts that were deemed unsuitable to fly out of an internal scrap yard and put them back on factory assembly lines . In his first network TV interview, Merle Meyers,

By Jeanne Sahadi, CNN New York (CNN) — A federal judge on Wednesday preliminarily delayed a ban on noncompete agreements from taking effect for a handful of employers on September 4. Unless the judge makes another ruling to the contrary before that date, the ban on noncompete agreements will go into effect for the majority

By Clare Duffy, CNN New York (CNN) — As Google has rushed to incorporate artificial intelligence into its core products — with sometimes less-than-stellar results — a problem has been brewing behind the scenes: the systems needed to power its AI tools have vastly increased the company’s greenhouse gas emissions. AI systems need lots of

By Ramishah Maruf, CNN New York (CNN) — Americans across the country will celebrate Independence Day with barbecues, fireworks and a day off from work for many employees. The Fourth of July marks the birth of American independence, the day the Continental Congress adopted the Declaration of Independence in 1776. This year, the Fourth of July will

By Matt Egan, CNN New York (CNN) — Not even Fourth of July barbecues are immune to inflation. Americans feeding a group of 10 this holiday weekend will spend an average of $71.22, according to the American Farm Bureau Federation. It’s a record high: 5% more than last year and 30% higher than in 2019

By Chris Isidore, CNN New York (CNN) — A record number of passengers are expected to pass through US airports this holiday travel week. You’d think this would be a great time to run an airline. You’d be wrong. Airlines face numerous problems, including higher costs, such as fuel, wages and interest rates. And problems

By Jordan Valinsky, CNN New York (CNN) — Bob’s Stores, a discount store located in northeast America, is shutting down after seven decades in business. The retailer recently filed for Chapter 11 bankruptcy protection, and as a result, will soon permanently close all 21 of its locations. It will liquidate its inventory in the coming

By Danielle Wiener-Bronner, CNN New York (CNN) — As the use of popular weight loss and diabetes drugs like Wegovy and Ozempic skyrockets, consumer brands are scrambling to adapt. But health professionals are warning consumers not to take medical advice from the same companies trying to sell them food, supplements and other consumables. The new GLP-1

By Jessie Yeung, Hanako Montgomery and Junko Ogura, CNN Tokyo (CNN) — Banks across Japan began stocking their ATMs on Wednesday with shiny new yen notes sourced from an unlikely location – vibrant yellow flowering paperbush shrubs that grow on craggy Himalayan mountains in Nepal. Before entering the wallets of Japanese consumers, the yen notes