CNN-Business-Consumer

By Charles Riley, CNN Business Plenty of people want to buy Nike clothes and sneakers. But nearly two years into the coronavirus pandemic, supply chain issues mean the company is struggling to meet that demand and grow its business. Nike sales increased just 1% to $11.4 billion in the quarter ended November 30, the US

By Jordan Valinsky, CNN Business Rite Aid announced Tuesday it is closing another 63 stores to save about $25 million per year. After years of overexpansion, Rite Aid and other giant American pharmacy chains have struggled. They’ve been closing hundreds of stores over the past few years, despite the pandemic that has drawn people into

By Pete Muntean, CNN Business The world’s biggest commercial airplane manufacturers are telling the Biden Administration to delay the rollout of 5G cell service next month. Boeing CEO David Calhoun and Airbus Americas CEO Jeffery Knittel sent a letter to Transportation Secretary Pete Buttigieg to say the January 5 rollout could cause interference that could

By Nathaniel Meyersohn, CNN Business Early in the Covid-19 pandemic, everybody stuck at home tried their hand at cooking. People posted photos of their elaborate dishes on social media with hashtags like #Coronavriuscooking, and baking sales boomed. Almost two years later, people have given up on their dreams of being a celebrity chef. Consumers across

By Michelle Toh, CNN Business China Mobile is ending the year with a bang. The Chinese telecom giant announced Tuesday that it wants to raise as much as 56 billion yuan ($8.8 billion) on the Shanghai stock exchange after it was forced to quit Wall Street in January. In a filing to the Hong Kong

By Matt Egan, CNN Business Mark Zandi is growing more concerned about the health of the US economy heading into 2022 following the apparent demise of the Build Back Better Act and the rapid spread of Omicron. “With Omicron looming and DC in disarray, risks to the economic recovery next year are not inconsequential and

By Jordan Valinsky, CNN Business Papa Johns is tossing up a New York-inspired pizza nationwide. Beginning December 27, the chain is rolling out its take on a New York-style pizza that features “eight oversized, foldable slices with just the right balance of crust and toppings.” The city’s pizzas are known to be bigger than average

By Charles Riley, CNN Business The outlook for the American economy is suddenly much darker. Investors around the world sold stocks and oil prices dropped sharply on Monday as Omicron cases surged and governments imposed anti-virus measures that could hamper economic growth. But the US faces a second potential blow after Sen. Joe Manchin, a

By Laura He, CNN Business China’s central bank cut its main interest rate for the first time in 20 months, as authorities step up efforts to boost an economy that has been hit by pandemic-related curbs, a real estate slump and an unprecedented crackdown on private enterprises. The People’s Bank of China on Monday lowered

By Mark Thompson, CNN Business Investors hoping for an easy Christmas week could be sorely disappointed as stocks and oil prices slid in the face of growing threats to the global economy. In the US the Dow fell more than 430 points, or 1.2%, on Monday. The S&P 500 was down 1.1% while the tech-heavy

By Laura He, CNN Business Chinese artificial intelligence giant SenseTime has revived its $767 million initial public offering, just days after it had delayed its public debut after being hit by another US blacklist. SenseTime relaunched the offering Monday, with its first day of trading set for Dec. 30, according to its revised filings to

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. People in major cities waited in long lines for Covid tests over the weekend… but millions also queued up to watch “Spider-Man” in crowded theaters. On Sunday New York state

By Matt Egan, CNN Senator Joe Manchin’s opposition to the Build Back Better Act prompted Goldman Sachs to swiftly dim its US economic outlook. The Wall Street firm told clients Sunday it no longer assumes President Joe Biden’s signature legislation will get through the narrowly divided Congress, citing the West Virginia Democrat’s announcement that he’s

By Frank Pallotta, CNN Business Theaters needed a hero, and Spider-Man swung in just in time. “Spider-Man: No Way Home” — the latest movie in the Marvel series — notched a record breaking opening weekend at the domestic box office by bringing in an estimated $253 million, according to its studio, Sony. That is the

By Julia Horowitz, Salma Abdelaziz and Li-Lian Ahlskog Hou, CNN Growing up in Finland, Iida Ruishalme had a deep affinity for nature — particularly the forest, where she loved to go trekking with her dogs. Now, she’s worried that her daughters won’t experience such idyllic days as the climate crisis accelerates. So last month, she

By Frank Pallotta, CNN Business “Saturday Night Live” wasn’t exactly live from New York on Saturday night. The NBC variety show opened with Tom Hanks greeting a nearly empty studio since the show went without a live audience because of the recent rise in Covid-19 cases. “Tonight everyone at ‘Saturday Night Live’ planned to do

By Frank Pallotta, CNN Business The show went on for “Saturday Night Live” Saturday, but without its usual studio audience and its musical guest. The NBC variety show said late Saturday afternoon it would not have a live audience in the studio because of the recent rise in Covid-19 cases. “Due to the recent spike

By Ramishah Maruf, CNN Business After failing to reach a deal with Disney, YouTube TV will not be able to distribute Disney-owned channels such as ESPN and ABC on its platform, and has dropped the monthly subscription price to its platform by $15, to $49.99. Negotiations between the two companies have been going on for

By Frank Pallotta, CNN Business Look out, box office records. Here comes Spider-Man. “Spider-Man: No Way Home,” the latest movie in the Marvel series, notched a massive opening day at the domestic box office Friday by bringing in $121.5 million, according to its studio, Sony. That is the second highest opening day in box office

By Allison Morrow, CNN Business Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. One of the more insidious myths making the rounds this year was that young people didn’t want to work because they were getting by just fine

by Ramishah Maruf, CNN Business This year hackers have unleashed cyberattacks against pipelines, ferry boats, meat packers, even police departments. And now they’ve come for the cream cheese. In October, a cyberattack against the largest US cheese manufacturer contributed to a nationwide cream cheese shortage shortly before the holidays, Bloomberg News reported, endangering holiday treats

Opinion by Bill Carter for CNN Business Perspectives I confess to being old enough to have watched the premiere of “Saturday Night Live” in 1975. It was, from the start, exciting, ground-breaking television. Since then, I have seen the majority of episodes. Not all of them, of course, because like most “SNL” viewers, I have