CNN-Business-Consumer

By Paul R. La Monica, CNN Business What’s the best way to invest? Plenty of active traders are out there trying to make a quick buck on meme stocks like AMC and GameStop, fads like Snap and Peloton or bitcoin and other cryptocurrencies. Professional money managers try to identify stocks that can beat the broader

By Alicia Wallace, CNN Business US consumer confidence fell in October to the lowest level since July as high borrowing costs and soaring inflation take their toll on household budgets. The consumer confidence index slumped to 102.5 from a revised 107.8 in September, according to data released Tuesday by the Conference Board. Economists were expecting

By Tara John, CNN N. R. Narayana Murthy, one of India’s richest people, had mixed feelings when he first heard about the man who would become his son-in-law. “I, too, was a little sad and jealous when you told us you had found your life partner,” he wrote to his daughter Akshata Murty in a

By Anna Bahney, CNN Business US home prices continued to gain ground in August, but the pace of growth slowed considerably as rising mortgage rates pushed more prospective buyers out of the market. Home prices rose 13% in August from the year before, a smaller jump than the 15.6% growth seen in July and 18.1%

By Ramishah Maruf, CNN Business In the last few weeks, retailers, social media platforms, celebrities and fashion and entertainment companies have peeled away from business alliances with rapper Ye. Ye, also known as Kanye West, has become a controversy magnet. In early October, Ye wore a “White Lives Matter” t-shirt and dressed several Black models

By Jordan Valinsky, CNN Business McDonald’s McRib is soon returning to its menus — and this could be the last time. The chain said the fan-favorite menu item is coming back on October 31 for a limited period. McDonald’s teased in a statement that “this could be your last chance to taste it” because the

By Nicole Goodkind, CNN Business It’s safe to say that the global economy is in a pretty bad place right now: The vast majority of economists think we’re on the brink of recession. But US markets don’t seem to mind. Stocks closed out their best week since mid-June last Friday and continued that rally into

By Chris Isidore, CNN Business General Motors says its supply chain issues are improving. That allowed the company to post better-than-expected earnings despite falling short of revenue forecasts. America’s largest automaker said that by the end of June, it had been able to clear out of inventory about 75% of the roughly 90,000 vehicles it

By Hanna Ziady, CNN Business Some of the top names on Wall Street think a US recession is now likely, if not inevitable. But they have bigger worries on their minds. JPMorgan Chase CEO Jamie Dimon said Tuesday he is more concerned about global geopolitics than he is about slowing economic growth in the United

By Laura He, CNN Business China’s yuan tumbled on Tuesday to its lowest level in nearly 15 years on Tuesday as investors fled Chinese assets amid fears about Xi Jinping’s dramatic move to tighten his grip on power in a major reshuffle of Communist Party leaders On the tightly controlled domestic market, the yuan dropped

By Jon Sarlin, CNN Business “I can say antisemitic s*** and Adidas cannot drop me,” Kanye West said during his now infamous tirade against Jews during the Drink Champs Podcast earlier this month. With a social media uproar focused on Adidas brewing, Ye’s theory is now being tested. Here’s the deal: The list of brands

By Nathaniel Meyersohn, CNN Business Unilever has recalled certain Dove, Nexxus, Suave, TIGI and TRESemmé aerosol dry shampoos because of the potential presence of benzene, a chemical that can cause cancer. The affected products were produced prior to October 2021 and were distributed at retailers nationwide, the Food and Drug Administration said in an announcement

By Anna Bahney, CNN Business After more than doubling this year, mortgage rates are expected to retreat in 2023, according to an updated forecast from the Mortgage Bankers Association. MBA’s economists also said they expect the US to enter into a recession in the first part of next year that will be driven by tighter

By Sophia Saifi, Bethlehem Feleke and Irene Nasser, CNN Arshad Sharif, a prominent Pakistani journalist who fled the country after he was charged with sedition, has died in Kenya after he was shot by police responding to reports of a stolen vehicle, authorities said. “The officers trailing the motor vehicle … alerted police in Magadi

By Matt Egan, CNN Business Goldman Sachs is urging the Federal Reserve to be patient in its quest to squash inflation. Even though inflation remains far too high, the investment bank says the Fed has already made “remarkable” progress in slowing the US economy and easing the concerning imbalance between supply and demand in the

By Christine Romans, CNN Kraft Heinz CEO Miguel Patricio says higher inflation and supply issues are coursing through the food industry, forcing companies to adopt new strategies for everything from production to promotion to packaging. And he doesn’t see an end to either issue anytime soon. “We’ve already increased the prices that we were expecting

By Paul R. La Monica, CNN Business Banks are in a bind. Rising interest rates should be good news for financial firms because they boost profitability for loans. But banking giants like JPMorgan Chase, Citigroup and Bank of America have been hit hard this year as the volatility on Wall Street from the Federal Reserve’s

By Julia Horowitz, CNN Business Rishi Sunak, Britain’s third prime minister in seven weeks, will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But his other task — shepherding the country through a recession — is poised to be just as daunting. The former finance minister

By Nicole Goodkind, CNN Business ESG investing — evaluating companies using environmental, social and governance factors — was one of the most-cited phrases in earnings calls during the first half of the year. But a looming recession, tanking stock markets and the race to US midterm elections have put those sustainability efforts on the chopping

By Laura He, CNN Business Hong Kong stocks had their worst day since the 2008 global financial crisis, just a day after Chinese leader Xi Jinping secured his iron grip on power at a major political gathering. Foreign investors spooked by the outcome of the Communist Party’s leadership reshuffle dumped Chinese equities and the yuan

By Yenny Sanchez, CNN If you’re one of those people who created a social media page for your dog, then keep reading … Yappy.com, an online retailer of pet gifts, is searching for its next “Chief Fluff Officer,” a gig that pays up to $10,000 a year. “The successful pup will be a natural behind

By Chris Isidore, CNN Business There is one surefire cure for high gas prices. Unfortunately, it’s far worse than the problem itself: A recession. Nothing kills demand for oil — and brings down prices faster — than recessions. Not only do they cause job losses, which means fewer people commuting to work, but those who

By Harmeet Kaur, CNN Diwali seems to be everywhere this year. More and more major brands are recognizing the festival of lights, running ad campaigns and stocking products related to the holiday in the US. South Asian Americans who celebrate Diwali can now pick up fireworks from Costco, greeting cards from Hallmark and party decorations