CNN-Business-Consumer

By Anneken Tappe, CNN Business The US government is stepping up its efforts to relieve the supply chain nightmare that has led to shortages of some goods, higher prices for consumes and now threatens to slow the economic recovery. The White House will work with companies and ports on a “90-day sprint” to alleviate bottlenecks,

By Julia Horowitz, CNN Business The shift to clean energy is sending the oil industry into decline. But the world needs a much more ambitious plan to save the climate and achieve net-zero emissions by 2050. That’s according to the International Energy Agency, which said in its global energy outlook published Wednesday that more aggressive

By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Netflix has — once again — changed the game. When the company began to expand internationally, it exported Hollywood-made films and TV shows to other countries. Now, about a decade

By Chris Isidore, CNN Business A federal judge in Texas has temporarily stopped United Airlines’ plan to put employees on leave if they have requested an exemption to the company’s Covid vaccine mandate. Roughly 2,000 out of the 67,000 US United employees, or less than 3%, requested an exemption from the mandate for religious or

Opinion by Mark Zandi for CNN Business Perspectives Congress just punted the decision on the nation’s debt limit until the end of this year, and financial markets are relieved. But it will still remain an existential threat to the financial system and economy, given that lawmakers regularly tie themselves into knots to circumvent it. Since

By Jeanne Sahadi, CNN Business As any working mother will attest, trying to fulfill all work and family obligations every single day can seem impossible. “Work-life balance is a lie,” said TIAA president and CEO Thasunda Brown Duckett at Fortune’s Most Powerful Women’s Summit on Tuesday. When she tried achieving a more balanced lifestyle, Duckett

By Anna Bahney, CNN Business Since the pandemic began, demand among homebuyers has far exceeded the supply of available homes, causing real estate prices to skyrocket. But as high as prices are, they have yet to peak, according to a new report from Goldman Sachs. The investment bank projects that home prices — already at

By Chris Isidore, CNN Business Corporate America cheered last month when President Joe Biden announced plans to require most larger businesses to mandate Covid vaccines or weekly tests for their workers, So Texas Gov. Greg Abbott’s order prohibiting businesses from enforcing a vaccine mandate on their Texas-based employees puts companies in a difficult position. Many

By Matt Egan, CNN Business A record 4.3 million people quit their jobs in August, evidence of the considerable leverage workers have in today’s economy. About 2.9% of the workforce quit in August, up from 2.7% in July, according to the Job Openings and Labor Turnover Survey (JOLTS) report, released Tuesday. That marks the highest

By Paul R. La Monica, CNN Business The Duke and Duchess of Sussex continue to expand their business empire. Prince Harry and Meghan Markle are partnering with a firm that helps create portfolios focused on sustainable investments. Harry and Meghan are working with Ethic, a five-year-old firm that promotes investing in companies with good environmental,

By Hanna Ziady, CNN Business Ryanair is refusing to carry passengers who were refunded by credit card companies for flights they did not take because of coronavirus lockdowns. The measure affects passengers who purchased non-refundable tickets for Ryanair flights that operated as scheduled during the pandemic but were unable or unwilling to fly because of

By Chris Isidore, CNN Business General Motors will be getting $1.9 billion from its battery supplier LG to cover most of the cost of the expensive recall of the Chevrolet Bolt after a series of fires. GM is recalling 143,000 Bolts, which represents most of the Bolts sold since the electric car debuted in 2016.

By Paul R. La Monica, CNN Business Say what you want about JPMorgan Chase CEO Jamie Dimon, but he’s consistent about his disdain for bitcoin. Dimon once again attacked the top cryptocurrency, calling it “worthless” during a virtual summit Monday. “I personally think bitcoin is worthless, but I don’t want to be a spokesperson,” he

By Hanna Ziady, CNN Business The global economic recovery from the coronavirus pandemic is weakening and risks are rising, according to the International Monetary Fund. The IMF on Tuesday slashed its 2021 growth forecast for the United States by one full percentage point to 6%, the biggest reduction suffered by any G7 economy in its

By Julia Horowitz, CNN Business For the first time since late 2014, US oil prices are back above $80 per barrel — a boon for the energy industry, which was battered during the pandemic, but bad news for the economic recovery as winter approaches. What’s happening: West Texas Intermediate futures, the US crude benchmark, finished

By Anneken Tappe, 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 sector. It’s unclear

By Laura He and Manveena Suri, CNN Business Two of Asia’s largest economies are racing to contain a worsening energy crunch. China is trying to assuage concerns about skyrocketing prices as its major coal mining hubs grapple with heavy rains and deadly accidents, problems that are compounding efforts to address power shortages. Some leaders in

By Michelle Toh, CNN Business Evergrande stayed silent Tuesday about its fate after reportedly failing to make interest payments on another international bond, the third such deadline it appears to have missed in recent weeks. The sprawling Chinese real estate conglomerate was due to make payments of about $148 million on US dollar-denominated bonds on

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. When Jon Gruden was a prominent broadcaster on ESPN, providing color commentary during “Monday Night Football,” he was also sending profane and hateful emails to friends. Gruden later became the

By Blake Ellis and Melanie Hicken, CNN International shipping giant Maersk has suspended five crew members and launched an investigation in the wake of an explosive blog post from a student at a federal service academy who said she was raped in 2019 on one of the company’s ships when she was 19 years old.

By Chris Isidore, Gregory Wallace and Pete Muntean, CNN The problems at Southwest Airlines run deeper than the operational meltdown that caused more than 2,000 flight cancellations in recent days. And they’ll continue well after the airline is back on schedule. Although this weekend’s problems were mainly limited to Southwest, it is by no means

By Alisha Ebrahimji and Amanda Jackson, CNN Russ Melchert and his wife flew from Kansas City, Missouri, to Dallas on Friday to watch his alma mater’s football team play the next day at the Cotton Bowl. Melchert was set to return home at 12:35 p.m. Sunday from Dallas Love Field airport on a Southwest Airlines

By Walé Azeez, CNN Business British companies that produce steel, paper, glass, cement, ceramics and chemicals say they will be forced to close factories or pass on rising costs to consumers unless the UK government provides relief from soaring energy prices. The industries, which are major users of natural gas and electricity, are reeling from

By Ramishah Maruf, CNN Business Elon Musk’s personal wealth is now $222 billion, widening his gap as the richest person in the world according to Bloomberg’s Billionaires Index. Musk’s personal wealth skyrocketed an extra $10.6 billion after a secondary share sale by investors, announced last week, valued SpaceX over $100 billion, CNBC reported. Jeff Bezos,

By Jeanne Sahadi, CNN Business If you don’t have a four-year college degree, you’re hardly alone. The majority of US working age adults do not. You may assume you have little chance of developing a well-paying career with benefits and growth potential at a Fortune 500 company. After all, so many jobs require a Bachelor’s

By Jordan Valinsky, CNN Business Hasbro CEO Brian Goldner is taking medical leave of absence from his role effective immediately, the company announced. In a press release, Hasbro said Goldner is “undergoing continued medical care” following an August 2020 disclosure that he was seeking treatment for cancer in 2014. He has been the toymaker’s CEO