CNN-Business-Consumer

By Paul P. Murphy and Paula Newton, CNN Online crowd fundraising site GiveSendGo said on Twitter it will not follow a Canadian court order mandating it stop distributing funds to convoy protesters. “Canada has absolutely ZERO jurisdiction over how we manage our funds here at GiveSendGo,” the company wrote on Twitter. “All funds for EVERY

By Jeanne Sahadi, CNN Business Imagine having filed and paid your taxes last year, then months later you get a letter in the mail from the IRS saying you didn’t. That’s what’s happening to many taxpayers this year thanks to automated notices being sent by the IRS. But if you got one, don’t panic. There’s

By Matt Egan, CNN Business Three of America’s largest business groups are warning the trucker-inspired protests along the US-Canada border are further straining stressed-out supply chains. In a joint statement Thursday night, the US Chamber of Commerce, Business Roundtable and National Association of Manufacturers urged a swift resolution to the blockages. “The disruptions we are

By Anneken Tappe, CNN Business Prices keep rising, and Americans are growing concerned that Washington’s policies won’t do much about them. An early look at consumer sentiment in February shows just that. Sentiment dropped more than economists expected between the first two months of the year, reaching the worst level in a decade at 61.7

By Julia Horowitz, CNN Business Past may not be prologue for financial markets as the global economy continues to reel from the pandemic. But a traditional recession signal is still catching Wall Street’s attention. What’s happening: The US government bond market sold off on Thursday alongside stocks following the news that inflation reached 7.5% in

By Danielle Wiener-Bronner, CNN Business Anheuser-Busch, known for beers like Budweiser, Busch and Stella Artois, is shining a light on its canned cocktails with a new Super Bowl ad. The commercial, an homage to/parody of Apple’s “Here’s to the crazy ones” campaign, is a love letter to the “lazy” ones: People who walk their dogs

By Sonia Moghe, CNN Sarah Palin testified Thursday that she felt “mortified” and lost sleep after the New York Times published an editorial incorrectly claiming there was a link between a map her political action committee had posted with crosshairs over congressional districts and the shooting that injured former Congresswoman Gabrielle Giffords and killed six

By Peter Valdes-Dapena, CNN Business If you’re tired of getting random calls from companies claiming to be from “dealer services” and offering you an extended warranty on your car, the Federal Trade Commission is taking aim at some companies accused of making those calls. The FTC has filed suit against American Vehicle Protection Corp. of

By Matt McFarland, CNN Business A California civil rights agency filed a lawsuit against Tesla Wednesday alleging racism and harassment at the automaker’s Fremont manufacturing plant. Earlier Wednesday Tesla called the lawsuit “misguided” and objected to the claims. “Tesla strongly opposes all forms of discrimination and harassment,” the automaker said in its blog post. “Tesla

By Chris Isidore, CNN Business After a year of computer chip shortages, supply chain problems and temporary plant closings, this was about the last thing the auto industry needed. The protests by Canadian truckers, upset with Canadian vaccine mandates, have been tying up traffic on the Ambassador Bridge between Windsor, Ontario and Detroit, a key

By Matt Egan Red-hot inflation is raising pressure on the Federal Reserve to take drastic action to get control of prices. James Bullard, the president of the St. Louis Federal Reserve Bank, told Bloomberg News Thursday he has become “dramatically” more hawkish and now supports raising interest rates by a full percentage point by July

By Anna Bahney, CNN Business Home prices rose by double-digit percentages in two-thirds of the largest US cities at the end of last year, but that was a slowdown from earlier in 2021. Of 183 metro areas tracked, 67% saw double-digit growth in median home prices during the fourth quarter, down from 78% in the

By Danielle Wiener-Bronner, CNN Business The tide could be turning on consumers’ willingness to pay higher prices, Coca-Cola CEO James Quincey warned Thursday. Consumer goods companies have been steadily hiking prices as their own production costs rise, and so far, shoppers seem to be accepting the increases. Executives at McDonald’s, Chipotle and elsewhere have recently

By Frank Pallotta, CNN Business Welcome back to Jurassic World. Universal Pictures debuted the new trailer for “Jurassic World Dominion” — one of the most highly anticipated films of 2022 — on Thursday. The first look featured everything you would expect from a “Jurassic World” movie: dinosaurs running wild, Chris Pratt on a motorcycle chasing

By Chris Isidore, CNN Business Elon Musk has repeatedly bragged (or, perhaps, complained) that he’ll pay more in federal taxes for 2021 than anyone has ever paid — about $11 billion. But Tesla apparently won’t pay a cent. Tesla may not plan to pay federal taxes any time in the foreseeable future — even though

By Anna Bahney, CNN Business Mortgage rates increased again, rising to a level not seen since before the pandemic. The 30-year fixed-rate mortgage averaged 3.69% in the week ending February 10, up from 3.55% the week before, according to Freddie Mac. It’s the highest since January 2020. “The normalization of the economy continues as mortgage

By Anneken Tappe, CNN Business New year, same old high inflation. A key measure of inflation climbed to a near-40-year high last month. Economists are hopeful that America will reach the peak of the pandemic-era price increases in the early months of 2022. Here’s to hoping. The consumer price index rose 7.5% in the 12

By Julia Horowitz, CNN Business Liz Ann Sonders, the chief investment strategist at Charles Schwab, thinks Wall Street is missing the point on inflation. US inflation accelerated to 7.5% in January, the highest level in nearly 40 years, according to Labor Department data published Thursday. Sonders thinks the news could trigger another round of Wall

By Diksha Madhok and Sophia Saifi, CNN Business South Korean automaker Hyundai faced controversy this week in India, sparking diplomatic tensions between Seoul and Delhi. India’s Ministry of External Affairs said Tuesday that it summoned the Korean ambassador to express “strong displeasure” over what the agency called an “unacceptable social media post” made by one

By Sonia Moghe, CNN Former Alaska Governor Sarah Palin took the witness stand Wednesday in her defamation trial against the New York Times. Palin testified for about 15 minutes before court ended for the day. She sued the New York Times and former editorial page editor James Bennet in 2017 over an editorial they published

By Frank Pallotta, CNN Business Disney+ regained some of its magic on Wednesday with subscriber totals that exceeded Wall Street’s expectations. The streaming service now has 129.8 million subscribers, a gain of nearly 12 million in the company’s fiscal first quarter. Those results beat expectations and were a rebound for the media company after a