CNN-Business-Consumer

By Laura He, CNN Business Beijing is making one thing clear to the country’s embattled property developers: Pay your debts. All of them. Two major economic and finance agencies on Tuesday called on companies in “key industries” to redeem the principal and interest on their overseas bonds, according to a government statement. Regulators from the

By Jill Disis, CNN Business Washington is barring a major Chinese state-owned telecommunications firm from operating in the United States over national security concerns — an action that threatens to once again increase tensions between the world’s two largest economies. The US Federal Communications Commission on Tuesday said it has ordered China Telecom to discontinue

By Jordan Valinsky, CNN Business Several small SUVs struggled in a new side crash test conducted by the Insurance Institute for Highway Safety, with just one out of the 20 vehicles tested earning the agency’s highest rating. This year’s results included an updated side crash test that uses a heavier 4,180-pound barrier traveling at 37

By Julia Chatterley Calls for increased regulation of Facebook continue to grow louder after leaked internal documents became public and whistleblower Frances Haugen’s testimony showed that the social media platform has repeatedly failed to rein hate speech and misinformation. On Friday, a consortium of 17 US news organizations began publishing stories — collectively called “The

By Paul R. La Monica, CNN Business What a difference a month makes. Stocks sank in September on worries about inflation, the rise of the Covid-19 Delta variant, China’s crackdown on top tech firms and Washington gridlock potentially killing the chances that President Biden’s stimulus package gets passed. But as October ends, Wall Street is

By Alison Kosik, CNN Business Just days before a Covid-19 vaccine deadline for all Tyson Food employees in the United States, the company announced that 96% of its “active” employees have been vaccinated against the coronavirus. In August, Tyson mandated that all its 120,000 US workers get the vaccine by November 1. Tyson’s President and

By Chris Isidore, CNN Business Almost all employees at United Airlines have complied with the company’s vaccine mandate — and they do not want to fly with unvaccinated co-workers, according to the airline. United is facing a federal lawsuit brought by six of its employees who have applied for a medical or religious exemption to

By Anneken Tappe, CNN Business American consumers are feeling good again. Supply chain issues and sky-high inflation have done little to knock consumer confidence as people plan to spend big on big-ticket purchases, such as houses, cars and major appliances. And that’s a strong signal that consumer spending will continue through the holiday season and

By Peter Valdes-Dapena, CNN Business General Motors has said it intends to sell nothing but electric-powered vehicles by 2035, but it’s still 2021, and gasoline consumption isn’t over at GM just yet. On the same day GM announced investments in electric vehicle charging, it also unveiled a new 670 horsepower Chevrolet Corvette with a new

By Matt Egan, CNN Business The Biden administration’s Covid-19 vaccine mandate for federal contractors will further disrupt already stressed-out supply chains, Raytheon Technologies warned Tuesday. Raytheon, a conglomerate that makes jet engines, missiles and drones, joins a growing list of business groups expressing concern about the December 8 deadline for employees of federal contractors to

By Moira Ritter, CNN Business UPS just posted its best year ever — and 2021 isn’t even over yet. Next year could be even better for UPS, because it’s hiking its rates substantially in 2022. In the midst of gridlocked supply chains and inflation woes, UPS continues to benefit from the increase in online shopping

By Matt Egan, CNN Business Blackstone CEO Stephen Schwarzman warned Tuesday that high energy prices will likely set off social unrest around the world. “We’re going to end up with a real shortage of energy. And when you have a shortage, it’s going to cost more. And it’s probably going to cost a lot more,”

By Paul R. La Monica, CNN Business Hasbro brushed off global supply chain concerns and reported solid sales and earnings for the third quarter, thanks in large part to strong demand for its Dungeons & Dragons and Magic: The Gathering role playing games. The toy giant said Tuesday that third quarter revenue was up 11%

By Julia Horowitz, CNN Business The exclusive group of American companies worth more than $1 trillion just added another member. What’s happening: Shares of Tesla rallied more than 12% Monday to nearly $1,025 after Hertz announced that it had locked in a record order of 100,000 of the company’s electric cars for its fleet. It’s

By Rob McLean and Jill Disis, CNN Business The shell company that plans to merge with former US President Donald Trump’s new media firm is losing some steam after last week’s trading bonanza. Shares of Digital World Acquisition Corp. plunged nearly 30% Tuesday after falling 11% on Monday. Digital World Acquisition Corp. skyrocketed by as

By Jordan Valinsky, CNN Business Elon Musk is rapidly approaching a net worth of $300 billion, as Tesla’s market cap soars past $1 trillion. That’s enough to surpass one of his biggest rivals: ExxonMobil. As of Monday’s close, Musk’s net worth was $289 billion, according to the Bloomberg Billionaires Index, which surpasses the $272 billion

By Anneken Tappe and Diksha Madhok, CNN Business China’s real estate crisis isn’t showing any sign of letting up. Embattled conglomerate Evergrande rattled global markets in September by warning it could default on its huge debts. Since then, more developers have made similar public confessions, unnerving investors and raising fears of contagion across the vast

By Matt Egan, CNN Business Jonathan Greenblatt, the CEO of the Anti-Defamation League, blasted Facebook on Monday following the publication of a series of articles revealing the company’s struggles to stop hate speech, human trafficking and coordinated groups that sowed discord ahead of the January 6 insurrection. “The kind of monopolistic indifference the company has

By Paul R. La Monica, CNN Business Wall Street is brushing off concerns about Facebook. The Dow and S&P 500 both closed at record highs Monday — while Tesla shares soared to a new all-time peak above $1,000 and sent the company’s market share past the $1 trillion level. The Dow ended the day up

By Matt Egan, CNN Business Extreme port congestion has become a major nuisance that just won’t go away this year. Unfortunately, it could be one of the biggest problems of 2022, too. Backlogs and elevated shipping costs are likely to persist “at least” through the middle of next year, Goldman Sachs warned clients in a