• Finance

    Biden’s Chinese EV tariffs don’t address national security concerns

    President Biden’s move to quadruple tariffs on Chinese electric vehicles isn’t meant to head off any potential national security threats posed by internet-connected vehicles made in China, but some political leaders in the president’s own party think those concerns shouldn’t be overlooked. The tariff hike was designed to keep China from undercutting U.S. automakers with a flood of EVs that cost a fraction of those produced by American companies. Sen. Sherrod Brown of Ohio and other Democrats have urged the president to ban Chinese EVs altogether because they fear Chinese-produced consumer devices could be used to hurt Americans through hacking…

  • Finance

    Dow closes above 40,000 for first time, notching new milestone

    The Dow closed above 40,000 points for the first time on Friday in a quiet day on Wall Street, with investors taking cheer in strong corporate profits and signs that inflation is cooling.  The Dow Jones Industrial Average, which was launched in 1896, tracks the stocks of 30 major “blue-chip” companies generally regarded as low-risk investments. The index’s listed companies include Apple, Intel and Microsoft among tech players, while the financial industry is represented by companies such as American Express, Goldman Sachs and JPMorgan Chase. Health care companies in the Dow include Amgen, Johnson & Johnson, Merck and UnitedHealth Group.…

  • Finance

    Samsung trolls Apple after failed iPad Pro “crush” ad

    Apple event announces a new line-up of products and software updates Apple event announces a new line-up of products and software updates 02:43 A cheeky new Samsung advertisement makes light of a recent Apple ad for its iPad Pro that was widely panned as insensitive and out of touch.  The Apple spot featured a hydraulic press shown crushing instruments, paint buckets, an arcade game and other objects, seemingly to demonstrate that the latest iPad is at once powerful and compact. But artists and other critics blasted Apple as tone deaf in view of mounting concerns about artificial intelligence and other…

  • Finance

    Looking to purchase a home? These U.S. cities are the most buyer-friendly.

    Miami ranks among least affordable cities amid housing crisis, market cooldown coming? | Miami Life Miami ranks among least affordable cities amid housing crisis, market cooldown coming? | Miami Life 20:30 Prospective homebuyers in search of less competition and more selection may want to consider heading south. The reason: A boom in construction in Texas and Florida has stabilized home prices and eased competition in the states, according to Zillow.  In most major U.S. cities, buyers this year face slim pickings compared with the number of homes for sale before the pandemic. But inventory in Texas cities like Austin and…

  • Finance

    The deadline to file for a piece of Apple’s $35 million settlement with some iPhone 7 users is approaching. Here’s who qualifies.

    5/16: CBS Morning News 20:34 The deadline is approaching to register to receive a piece of Apple’s $35 million settlement with iPhone 7 or 7 Plus users who experienced audio issues with their device’s microphone. Those eligible to make a claim can be awarded $50 to $349 from the tech giant. The settlement is restricted to United States residents who owned one of those phone models between September 16, 2016 and January 3, 2023, and reported a covered audio issue to Apple or paid the company for repairs. The deadline to submit a claim is June 3 via the settlement…

  • Finance

    Dow hits 40,000 for the first time ever

    Wall Street advanced into uncharted territory as the Dow Jones Industrial Average topped 40,000 for the first time ever on Thursday, driven by investors thinking that a cooling but stable economy will lead the Federal Reserve to cut interest rates this year. The Dow hit the historic mark as Walmart jumped 6% after delivering robust first-quarter results, with the index lately up 127 points, or 0.3% at 40,035.  The S&P 500 and Nasdaq Composite also rose to record heights, up 3% each.  — This is a developing story. More from CBS News Kate Gibson Kate Gibson is a reporter for…

  • Finance

    Half of Amazon warehouse workers struggle to cover food, housing costs, report finds

    Roughly half of frontline warehouse workers at Amazon are having trouble making ends meet, a new report shows. The study comes five years after the online retailer raised minimum hourly wages to $15. Fifty-three percent of workers said they experienced food insecurity in the previous three months, while 48% said they had trouble covering rent or housing costs over the same time period, according to a report from the Center for Urban Economic Development at the University of Illinois Chicago. Another 56% of warehouse workers who sort, pack and ship goods to customers said they weren’t able to pay their bills in…

  • Finance

    Aldi recalls cream cheese spreads sold in 28 states due to possible salmonella contamination

    Funeral for NJ trooper, resources for victims of Philadelphia fire and more stories | Digital Brief Funeral for NJ trooper, resources for victims of Philadelphia fire and more stories | Digital Brief 02:49 PHILADELPHIA (CBS) – A string of cream cheese recalls for possible salmonella contamination has expanded to include Aldi stores in 28 states and the District of Columbia. Aldi said it is recalling four varieties of cream cheese spread that may have been contaminated by salmonella at a third-party supplier Schreiber Foods, Inc., the store chain said in a news release. Aldi says the following eight-ounce cups of…

  • Finance

    Meta to shut down Workplace app for business

    Meta launches new AI assistant Meta launches new AI assistant with Llama 3 model 03:33 Facebook-owner Meta said Tuesday it is shutting down its business-focused Workplace app to focus on artificial intelligence and metaverse. The company said it believes the AI and metaverse technologies it is developing “will fundamentally reshape the way we work” as it winds down the Workplace product, an online collaboration tool aimed at corporate customers.  Existing customers can use Workplace until August 31, 2025, when they’ll be given the option of transitioning to Zoom’s Workvivo product, which Meta called its “only preferred migration partner.” Customers will…

  • Finance

    Bumble dating app removes ads mocking celibacy after backlash

    The popular dating app Bumble is canceling an ad campaign that derides celibacy to promote its matchmaking service. It has also issued an apology. The company ran a series of ads in commercials and on billboards mocking celibacy as an alternative to dating as it launched a rebrand of the company and introduced what it is calling “the new Bumble.”  Tag lines included “You know full well a vow of celibacy is not the answer,” and “Thou shalt not give up on dating and become a nun.”  Bumble had long distinguished itself from other dating apps by requiring that women…