CNN-Business-Consumer

By Parija Kavilanz, CNN Business It’s a nightmare no parent ever wants to endure. Families all over the country are in a race against the clock to find a critical source of food they desperately need to keep their children fed — baby formula. For months, stores nationwide have struggled to stock enough baby formula.

By Anna Bahney After weeks of increases that pushed mortgage rates close to 4%, the climb took a break last week. The 30-year fixed-rate mortgage averaged 3.89% in the week ending February 24, down slightly from 3.92% the week before, according to Freddie Mac. Even with this decline, mortgage rates have increased by more than

By Julia Horowitz, CNN Business Russian President Vladimir Putin’s decision to invade Ukraine could drive prices even higher at a moment when inflation is already rising at the fastest clip in decades. Economists are racing to assess the impact of the attack, which could spark the biggest war in Europe since 1945. The conflict is

By Mark Thompson, CNN Business The West is promising “massive” sanctions on Moscow in response to Russia’s invasion of Ukraine. French President Emmanuel Macron said Thursday that European sanctions would target Russia’s military, economy and energy, and Germany’s decision this week to halt certification of the Nord Stream 2 pipeline built by Russia’s Gazprom shows

By Anneken Tappe, CNN Business America’s jobs recovery didn’t lose steam in the new year with a key measure of jobless claims dropping to its lowest level since March 1970, the Labor Department reported Thursday. Continuing claims for unemployment benefits, which count people who have filed for jobless aid for at least two weeks in

By Matt Egan, CNN Business Citigroup is saying goodbye to overdraft fees, making it the biggest US bank to pledge to eliminate the controversial charges. By this summer, Citi plans to get rid of overdraft fees, non-sufficient funds fees and overdraft protection fees, the bank exclusively told CNN on Thursday. The changes mean Citi will

By Jordan Valinsky, CNN Business A number of companies have suspended production or limited manufacturing output in Ukraine because of the Russian invasion early Thursday. Companies that made those announcements include Carlsberg, a Coca-Cola bottling company, snack maker Mondelez and steel manufacturer ArcelorMittal. They join a number of airlines that have already suspended operations to

By Julia Horowitz, CNN Business Russian President Vladimir Putin’s decision to invade Ukraine, which could spark the biggest war in Europe since 1945, has immediately stoked alarm among investors, who had been hoping such an outcome would be avoided. What’s happening: News early Thursday that Russian forces had begun an attack on Ukraine, with reports

By Kathryn Vasel When it comes to hiring, companies are moving fast. With millions of open jobs and not enough workers to fill them, employers are struggling to attract and retain employees. At the end of 2021, there were 10.9 million job openings, according to the most recent data from the Labor Department. One way

By Mark Thompson and Chris Liakos, CNN Business Russian stocks crashed and the ruble hit a record low against the dollar on Thursday after Russian troops launched an attack on Ukraine. The invasion is likely to trigger a new wave of “full scale” sanctions aimed at President Vladimir Putin’s inner circle and Russia’s oil-dependent economy.

By Rob McLean and Michelle Toh, CNN Business The price of bitcoin fell below $35,000 early Thursday after Russian President Vladimir Putin announced a military operation in the Donbas region of Ukraine. Bitcoin was trading at $34,969 as of 1:22 a.m. ET, according to CoinMarketCap. That’s a decline of more than 8% compared to a

By Laura He, CNN Business Global stocks plunged after President Vladimir Putin launched an invasion of Ukraine, drawing condemnation from the West and making punishing sanctions all but certain. European stocks tumbled on Thursday. The FTSE 100 fell 3.9% in London, while France’s CAC 40 dropped 3.8% and Germany’s DAX 30 shed 4%. Russian stocks

By Paul R. La Monica, CNN Business Wall Street’s attempt for a Wednesday rally failed, with stocks closing broadly lower on continued worries about the likelihood of an imminent invasion of Ukraine by Russia. The Dow closed down more than 464 points, or 1.4%, after opening the session higher. It was a broad-based slide, with

By Matt Egan and Brian Fung, CNN Business The controversial Trump SPAC surged near record highs on Tuesday after former President Donald Trump’s social media app debuted atop Apple’s App Store — even as the launch was marked with a flurry of one-star ratings, technical-support complaints and a massive waiting list. Digital World Acquisition Corporation,

By Jordan Valinsky, CNN Business Delivery is a shopper’s dream — but it’s an expensive hassle for businesses, even for mega-corporations like Target. So stores are trying to entice shoppers to split the baby: Come to the store and someone will deliver the items … to your car. To persuade customers to do that, Target

By Julia Horowitz, CNN Business Home prices in the United States increased at the fastest rate on record in 2021. That’s drawn in a flood of investors looking to cash in on the boom. What’s happening: Investors bought 18.4% of homes sold across the country during the last three months of the year, according to

By Charles Riley, CNN Business Barclays is withholding shares worth as much as $29 million from former CEO Jes Staley, pending the outcome of an investigation by British banking regulators into his relationship with Jeffrey Epstein. The bank said in its annual report published on Wednesday that it has suspended bonus and share payments to

By Danielle Wiener-Bronner, CNN Business If you walk into one of 25 Fred Meyer stores in the Portland area this week, you’ll find something unusual. Gathered together at the end of an aisle will be an eclectic assortment of about 20 products, including shampoo and dish soap, barbecue sauce, granola and more. The items are