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[ad_1] CNN  —  The US private sector lost jobs in June, the first negative month in more than two years, according to new data Wednesday from payroll provider ADP. US employers lost an estimated 33,000 jobs, according to ADP’s monthly national employment report. Economists were expecting ADP’s report to show a net gain of 115,000 jobs, according to FactSet. The losses were driven largely by stalled hiring plans, Nela Richardson, chief economist for ADP said. “Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,” she said…

[ad_1] New York CNN  —  Chuck E. Cheese isn’t just for the kids anymore. The arcade chain is opening a spin-off aimed at adults, called “Chuck’s Arcade,” which the company describes as a “modern-day love letter to the games and people who made Chuck E. Cheese great.” Similar to the kiddie version, Chuck’s Arcade has a mix of nostalgic arcade games, like Donkey Kong and Mortal Kombat; and newer titles such as Halo and Connect Four Hoops. Plus, each arcade is “overseen” by one of the chain’s iconic animatronic characters, including Chuck E. Cheese himself or other characters from his…

[ad_1] CNN  —  Elon Musk has started multiple successful companies that have accomplished incredible technological feats. His latest ambition may be significantly more difficult to achieve: starting a new American political party for the masses. Citing his disappointment in President Donald Trump and his massively expensive domestic policy bill, Musk said he would form the “America party” the day after the “Big, Beautiful Bill” passes, if Congress approves it. Musk has called Democrats and Republicans the “uniparty” because government deficits have risen dramatically under administrations and Congresses controlled by both parties. He says he wants to build a fiscally conservative…

[ad_1] Canva’s cofounder and chief operating officer says it’s foolish for creatives not to embrace AI.Cliff Obrecht, who cofounded the design software company with his wife Melanie Perkins, said designers are reacting to AI like they did to Canva in its early days.”So at Canva, when we launched, a lot of designers said, ‘Canva, we hate you. You are ruining our industry. You are like letting everyone design,'” Obrecht said on a Tuesday podcast episode of Masters of Scale.”And so over time, it didn’t take long, within four years, designers didn’t feel threatened by Canva,” he said, adding that Canva’s…

[ad_1] New York CNN  —  Del Monte Foods, the 138-year-old company best known for its canned fruits and vegetables, has filed for bankruptcy and is looking for a buyer. Late Thursday, the company announced it was voluntarily entering Chapter 11 and is going through a sale process for all of its assets. Among the company’s product lines are a number of well-known kitchen staples, including College Inn broths and Contadina canned tomatoes, as well as its flagship Del Monte brand. “After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to…

[ad_1] Washington CNN  —  Linda Wilburn, a 62-year-old retiree in Susanville, California, did not plan to buy a car this year. She originally wanted to save up, build her credit and buy a used car next year — a necessary purchase, she said. But President Donald Trump’s tumultuous trade war drove her to buy a car this past April, fearing higher prices if she waited any longer. Now Wilburn has a $607 monthly car payment coming out of her $1,600 Social Security check, which she said is her only source of income. “Things are so tight right now,” Wilburn told…

[ad_1] It looks like China has finally recognized how a relentless price war is backfiring on its economy.At a high-level meeting chaired by Chinese leader Xi Jinping on Tuesday, China’s top leadership pledged to curb “low-price and disorderly competition among enterprises” and create a “unified national market,” according to Xinhua state news agency.China’s acknowledgment of unhealthy competition among its local firms comes amid the West’s criticisms over the country’s industry overcapacity and cheap exports. These products have undercut domestic industries and have led to factory closures and job losses from the US to Europe.While Beijing has consistently pushed back against…

[ad_1] At 52, Idris Elba has made a name for himself as an actor, a producer, and even a DJ who played at Coachella this year. He says he gets his drive from not forgetting what his pre-Hollywood life was like.During an interview on the “Good Hang with Amy Poehler” podcast published on Tuesday, “The Wire” actor spoke about his career and how the challenges he faced before fame continue to motivate him.Elba told host Amy Poehler that he didn’t find success until he was around 35 and that life before that was often difficult. “There were some very tough…

[ad_1] Corona’s parent company said its sales have fallen, in part because Hispanic customers aren’t buying as much beer.New York-based Constellation Brands posted its first quarter earnings on Tuesday, reporting $2.23 billion in beer sales in the quarter — a 2% decline from the year before.The company said its top sales states, particularly “zip codes with larger Hispanic populations,” saw subdued spending. Hispanic customers make up about 50% of the company’s beer consumer base, Constellation Brands’ CEO, Bill Newlands, said in April’s earnings call.Newlands and the company’s CFO said in a joint commentary on Tuesday that the company had surveyed…

[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sales of risky European corporate debt surged to their highest ever level in June, as lowly rated companies take advantage of a capital flight out of US markets on fears over the fallout from President Donald Trump’s trade tariffs.Issuance by high-yield, or junk-rated, companies — many of which have previously struggled to access the market — rose to about €23bn in June, according to JPMorgan data. That beats the previous monthly record, set in June 2021, by roughly €5bn. June also…