Rivian lost $1.7 billion in three months. Here’s why that may not be a problem
By Matt McFarland, CNN Business Rivian lost a whopping $1.7 billion in the second three months of the year, but some auto industry experts say…
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Consumers still don’t feel great about the economy, despite lower gas prices
Martha C. White for CNN Business Consumer sentiment in August continued to rebound from its June trough, but Americans’ feelings about the…
Continue ReadingPeloton is cutting jobs, closing stores and hiking prices
By Jordan Valinsky, CNN Business Peloton is slashing jobs again, and this time it’s also hiking prices on some of its products. It’s part…
Continue ReadingJudge denies Trump Org and former CFO’s motion to dismiss tax fraud indictment
By Kara Scannell, CNN Business A New York state judge denied the Trump Organization and its former chief financial officer Allen Weisselberg’s…
Continue ReadingThe Rhine is shrinking, endangering Europe’s top economy
By Michelle Toh and Benjamin Brown, CNN Business Germany’s Rhine river is getting too dry, snarling supply chains and creating more problems…
Continue ReadingUK recession looms as households feel pain of soaring energy bills
By Anna Cooban, CNN Business Britons are bracing themselves for more tough times ahead as the economy starts to shrink and a new forecast suggests…
Continue ReadingJohnson & Johnson will stop selling talc-based baby powder around the world in 2023
By Jordan Valinsky, CNN Business Johnson & Johnson is abandoning talc-based baby powder next year and instead will make it with cornstarch. Its…
Continue ReadingRate hikes and recession are still in the cards
By Nicole Goodkind, CNN Business There appears to be some confusion about the trajectory of prices in the US. That’s partially because…
Continue Reading‘Moon Man’ is just what China’s box office needs after months of lockdowns
By Laura He, CNN Business A Chinese sci-fi comedy about an astronaut stranded on the moon has shattered summer box office records in China, providing…
Continue ReadingArgentina hikes interest rates to 69.5% as inflation hits 20-year high
By Reuters Argentina’s central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to keep a lid…
Continue ReadingRivian losses surge to $1.7 billion as production ramps up
By Matt McFarland, CNN Business Rivian said Thursday that it lost $1.7 billion in the second quarter of 2022 as it works to ramp up its vehicle…
Continue ReadingShell and Chevron shut Gulf of Mexico oil platforms after small leak halts pipelines
by Matt Egan, CNN Shell and Chevron both said on Thursday that the companies halted oil production at several platforms in the Gulf of Mexico…
Continue ReadingHome prices hit a new record high in the second quarter
By Anna Bahney, CNN Business Despite rising mortgage rates that dampened sales, home prices continued to climb higher in the second quarter, with…
Continue ReadingThe US Postal Service is raising rates for the holidays
By Jordan Valinsky, CNN Business For the third year in a row, the United States Postal Service is hiking the prices of its delivery services —…
Continue ReadingThe streaming wars are over
By Frank Pallotta, CNN Business In November 2019, Disney debuted Disney+, kicking off the so-called streaming wars and prompting companies across the…
Continue ReadingThis tried-and-true investing strategy isn’t working
By Paul R. La Monica, CNN Business If you are getting closer to retirement age…or if you’re just a super conservative investor terrified…
Continue ReadingThis tried-and-true investing strategy isn’t working
CNN, CNNBUSINESS By Paul R. La Monica, CNN Business If you are getting closer to retirement age…or if you’re just a super conservative…
Continue ReadingMcDonald’s is starting to reopen in Ukraine
By Danielle Wiener-Bronner, CNN Business After closing its restaurants in Ukraine six months ago because of the Russian invasion, McDonald’s is…
Continue ReadingGas prices tumble below $4 for the first time in months
CNN, POOL, KUSA By Anna Cooban and Matt Egan, CNN Drivers in the United States can breathe a small sigh of relief — average gas prices have dropped…
Continue ReadingMortgage rates climb above 5% once again
By Anna Bahney, CNN Business Mortgage rates climbed above 5% again, after dipping below that threshold for the first time in months a week earlier.…
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