CNN-Business-Consumer

By Julia Horowitz, CNN Business News that prices for American consumers are rising at the fastest rate in three decades has spooked investors and economists, piling pressure on President Joe Biden and the Federal Reserve to respond more aggressively. What’s happening: Biden and his team are now steeling themselves for high inflation to persist into

By Jordan Valinsky, CNN Business Johnson & Johnson, the world’s largest health products company, is splitting up. The company, which traces its roots back to 1886, will break into two: One company will focus on consumer health products customers can buy over the counter, including Benadryl, Band-Aids and Tylenol. The other business will sell prescription

By Jordan Valinsky, CNN Business Starbucks lovers can now order Taylor Swift’s favorite drink by saying two simple words. Customers who ask for “Taylor’s Latte” or “Taylor’s Version” will receive the singer’s favorite drink: a grande caramel nonfat latte. This latest collaboration between a fast food chain and a celebrity is being launched to celebrate

By Diksha Madhok, CNN Business India’s latest billionaire is a 58-year-old former investment banker whose beauty startup made its blockbuster debut on the stock market this month. Shares in FSN E-Commerce Ventures — the owner of cosmetics e-commerce site Nykaa — have surged since they began trading in Mumbai this week. The stock has more

By Helen Regan and Cape Diamond, CNN Business A military court in Myanmar has sentenced American journalist Danny Fenster to 11 years in prison, his lawyer said on Friday. Fenster, a 37-year-old from Detroit, Michigan, has been detained in Myanmar for more than five months. He has been denied bail and held in Insein Prison,

By Peter Valdes-Dapena, CNN Business Another one of the auto industry’s greatest hits is coming back. Toyota brought back the Supra; Ford brought back the Bronco; Jeep dusted off the Wagoneer model; and Land Rover resurrected the Defender. Now you can add the Acura Integra to the mix, too. Acura unveiled a prototype version of

Opinion by Anthony Noto for CNN Business Perspectives There’s something not many people know about me: Financial stress was a very real, and very prominent, part of my life at one point. In fact, it came into my life before I landed a job, joined the military or had any sort of paycheck. I was

By Danielle Wiener-Bronner, CNN Business If you’ve ever wanted to buy chicken wings from DJ Khaled, you are in luck. The musical artist, whose other business ventures have ranged from a Weight Watchers deal to an attempt to peddle gold furniture, is launching a virtual chicken wing brand called Another Wing in partnership with ghost

By Frank Pallotta, CNN Business It sounds crazy to say this, but Disney could really use a hit right now. Disney reported Wednesday that its streaming growth slowed dramatically last quarter, sending shares of the company down as much as 8.5% on Thursday morning. No surprise there: Disney’s media empire may stretch to parks, cable

By Jeanne Sahadi, CNN Business If you’re in the US military, there are many potential financial benefits available to you and your family — even if you serve for just four years. For instance, there’s some tax-free compensation, generous educational benefits, zero-to-low-cost health care, housing allowances and a host of free services on base. But

By Julia Horowitz, CNN Business Prices for American consumers are rising at the fastest rate in three decades, setting the stage for a standoff between the White House and the Federal Reserve as concerns grow about the political ramifications of inflation. What’s happening: Investors, economists and policymakers were rattled Wednesday by the news that annual

By Michelle Toh, CNN Business Tencent’s growth has slowed significantly as a widening regulatory crackdown in China weighs on its business, particularly its once-booming gaming division. In its first earnings report since China imposed new restrictions on how long minors can play online video games, the company posted a big dip in usage and billings

By Laura He, CNN Business Alibaba reported another year of record sales figures for Singles Day, the world’s largest annual shopping event. But its momentum is seriously slowing down as China’s economy weakens and as Beijing has tightened its grip on the tech industry. Alibaba said that total gross merchandise volume (GMV) reached 540.3 billion

By Chris Isidore and Jill Disis, CNN Business Elon Musk sold roughly $5 billion worth of Tesla shares this week — his first such sale since 2016 — just days after conducting a Twitter poll asking his fans if he should dispose of 10% of his stake in the electric carmaker. According to filings with

By Nathaniel Meyersohn, CNN Business You’ve probably realized that shopping for food and household basics is more expensive these days. Expect to keep paying more for groceries in 2022. Prices shoppers paid for groceries climbed 1% in October from September and were 5.4% higher than at the same time last year, according to data released

By Anna Bahney, CNN Business Credit card interest rates have moved swiftly higher this year, significantly increasing the cost burden on those who carry a balance. Over the past two quarters the average annual percentage rate has grown from 15.91% to 17.13%, leaving the current rate just a tick under the all-time record high of