Layoffs across the U.S. in July fell to their lowest level in two years, new data shows, a sign that the labor market remains resilient despite the impact of inflation driven by the Iran war and artificial intelligence. Employers announced 33,429 job cuts in July, down 46% from a year ago, according to outplacement firm…
Kendall Schrohe remembers the moment she swapped her smartphone for a flip phone. “For me, like the second that my iPhone was gone, it was just like heaven on earth,” the 23-year-old Washington, D.C., resident told CBS News. Schrohe is among the growing number of young people who are ditching their smartphones in favor of…
The Walt Disney Company and TikTok on Wednesday announced a deal that will allow content creators to make videos featuring characters from Disney brands such as Marvel, Pixar and Star Wars. That short-form content will be shared across TikTok and on Vert, a vertical video feed on the Disney+ streaming app, the companies said in…
Chipotle on Tuesday said it has pulled jalapenos linked to a salmonella outbreak in Minnesota from its restaurants, adding that it has replaced the peppers with product from another grower. In a statement, the restaurant chain said it made the decision amid a public health investigation into the outbreak, which Chipotle said had impacted…
SpaceX on Tuesday reported a second-quarter loss of $541 million on revenue of $7.8 billion in its first earnings report as a publicly traded company, offering a window into its performance after executing the biggest ever initial public offering in June. Elon Musk’s rocket, satellite and AI provider was forecast to report revenue of $6.8 billion…
The U.S. stock market approached record highs on Tuesday after Treasury Secretary Scott Bessent said a deal to reopen the Strait of Hormuz could be reached within days. Investors were also cheered by strong corporate profits, with companies ranging from equipment maker Caterpillar to software company Palantir Technologies reporting second-quarter results that exceeded analysts’ expectations. …
More companies are moving away from broad “peanut butter”-style pay raises for workers in favor of merit-based and other kinds of compensation sweeteners for top employees, according to new insights from Payscale. The trend toward rewarding strong individual performers within a business marks a shift away from companies spreading pay hikes evenly across their workforces. Just…
President Trump on Monday urged U.S. oil companies to take action to ease gasoline prices, saying that the energy giants “made too much money” from high oil prices due to the Iran war. Mr. Trump’s remarks come as Brent crude, the international benchmark, fell more than 4% on Monday to about $84 a barrel amid…
A coalition of 25 states on Monday filed a lawsuit against the Trump administration, alleging that it exceeded its authority in imposing a new round of sweeping tariffs last month. The import duties, enacted under Section 301 of the Trade Act of 1974, target 60 economies with rates ranging from 10% to 12.5%. “This is President…
SpaceX is set to issue its first earnings report as a public company on Tuesday, offering a detailed look at how the rocket, satellite and AI provider is faring after its ballyhooed initial public offering in June. SpaceX shares have sputtered after initially soaring following the transaction, the largest IPO in U.S. history. The company’s…
