As prices soar, consumers turn to McDonald’s
By Danielle Wiener-Bronner, CNN Business Inflation is relentlessly high and food prices in particular are soaring. In this environment, customers are…
Continue ReadingCNN – Business/Consumer
A guaranteed way to beat inflation temporarily crashed a Treasury website
By Jeanne Sahadi, CNN Business The demand to buy US Series I savings bonds this week has been so great that it temporarily crashed the Treasury web…
Continue ReadingThe US economy bounced back last quarter after shrinking in the first half of the year
By Alicia Wallace, CNN Business The US economy grew last quarter, bouncing back after shrinking in the first half of the year — but there are…
Continue ReadingMortgage rates top 7% for the first time since 2002
By Anna Bahney, CNN Business Mortgage rates rose again this week, topping 7% for the first time since 2002. The 30-year fixed-rate mortgage averaged…
Continue ReadingRivian owners can’t help but gush about their trucks, flaws and all
By Matt McFarland, CNN Business Denis Wang says he always hated the car-buying process — until he met Rivian. Buying the automaker’s R1T…
Continue ReadingEuropean Central Bank raises rates by three quarters of a point and promises more to come
By Hanna Ziady, CNN Business The European Central Bank hiked interest rates by three quarters of a percentage point on Thursday, promising further…
Continue ReadingMiss USA program under investigation after contestants claim pageant was rigged
By Amanda Musa and Jennifer Henderson, CNN The Miss Universe Organization has suspended Miss USA President Crystle Stewart and her company, Miss…
Continue ReadingPeloton tells members it will no longer use Kanye West’s music in new classes
By Jordan Valinsky, CNN Business Peloton has “indefinitely paused” playing Kanye West’s music from its streaming workout classes.…
Continue ReadingFirst on CNN: Senate Democrat warns Fed it’s ‘foolish’ to keep lifting interest rates
By Matt Egan, CNN Business Colorado Sen. John Hickenlooper is pleading with the Federal Reserve to pause its relentless attack on crushing inflation…
Continue ReadingPrince Harry’s long-awaited memoir, ‘Spare,’ set for January release
By Rob Picheta, Lauren Said-Moorhouse, Max Foster and Lauren Kent, CNN Prince Harry’s highly anticipated memoir will be entitled…
Continue ReadingThe peak in global fossil fuel emissions is just around the corner
By Anna Cooban, CNN Business Global fossil fuel emissions are expected to peak in 2025 as countries commit huge sums of money toward low-carbon…
Continue ReadingBig Tech can’t save your investments
By Nicole Goodkind, CNN Business Tech stocks are taking a beating this week as they prove less resilient to the economic downturn than investors had…
Continue ReadingShell announces $4 billion share buyback as profits double
By Hanna Ziady, CNN Business Shell will buy back $4 billion worth of shares and increase its dividend by 15% after posting another gigantic quarterly…
Continue ReadingCredit Suisse announces ‘radical’ restructuring with Saudi backing
By Julia Horowitz, CNN Business Credit Suisse will raise $4 billion to step back from Wall Street and double down on managing the finances of the…
Continue ReadingThai tycoon and transgender rights advocate buys Miss Universe for $20 million
By Jessie Yeung and Kocha Olarn, CNN A Thai media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million,…
Continue ReadingCNN employees brace for layoffs after network chief warns of ‘unsettling’ changes ahead
By Oliver Darcy, CNN Business “Unsettling.” That’s the sort of news CNN staffers had delivered to their inboxes at 1pm ET on…
Continue ReadingWhispers of improvement may slow recession’s drumbeat
Alexandra Peers, CNN A roar of corporate earnings came out this week and last, and the information piling up from the backbone-of-American-buyers…
Continue ReadingSkechers executives escort Kanye West out of building, company says
By Rob McLean, CNN Business Athletic shoe company Skechers said in a statement Wednesday that two of its executives escorted embattled musician Kanye…
Continue ReadingFord, VW pull plug on robotaxis in blow to self-driving car industry
By Matt McFarland, CNN Business Ford and Volkswagen, two of the world’s largest automakers, are shutting down their joint effort to develop…
Continue ReadingDOJ codifies rule barring secret subpoenas of journalists’ records
By Jessica Schneider and Hannah Rabinowitz, CNN Attorney General Merrick Garland announced Wednesday that the Justice Department formally introduced…
Continue Reading