CNN-Business-Consumer

By Oliver Darcy, CNN Business On the one-year anniversary of the January 6 insurrection, some of the most powerful forces in right-wing media continued to mislead or just brazenly lie to their audiences about the attack on the US Capitol, while others downplayed the events and mocked the news media for its coverage. The coverage

By Anna Bahney, CNN Business Mortgage rates started off 2022 with a bang, as the average rate moved higher than at any point last year. The 30-year fixed-rate mortgage averaged 3.22% in the week ending on January 6, up from an average 3.11% last week. A year ago the 30-year rate was 2.65%, the lowest

By Pete Muntean, CNN Business Airlines continue to cancel and delay flights by the thousands as their operations struggle with an untold number of workers calling out sick with coronavirus. Carriers have canceled more than 1,620 flights as of Thursday afternoon and delayed more than 1,350 nationwide according to flight tracking site FlightAware. On Wednesday,

By Peter Valdes-Dapena, CNN Business The BMW Flow electric SUV concept can change hues at the press of a button, going from white to gray or black and back again in moments. While it can’t go beyond shades of gray and, even at that, it lacks the subtlety and depth of real car paint, the

By Jeanne Sahadi, CNN Business Millions of people have decided to quit their jobs. If you’re one of them, you’ll have a lot to wrap up before your last day of work. Before handing in your company ID, decide what you want to do with any 401(k) savings you now have in your soon-to-be-former employer’s

By Jordan Valinsky, CNN Business Bed Bath & Beyond revealed the locations of 37 of the approximately 200 stores it plans close in the coming weeks. The plans, which were announced two years ago, are part of Bed Bath & Beyond’s multi-year transformation that includes creating new, private labels, remodeling stores and focusing on e-commerce

By Jordan Valinsky, CNN Business Coca-Cola is tapping into the canned cocktail craze with a boozy version of its Fresca soda. In a partnership between Corona brewer Constellation Brands and Coke, the companies will launch Fresca Mixed, a spirit-based cocktail, later this year. Fresca is the second non-alcoholic drink owned by Coke to be turned

By Frank Pallotta, CNN Business After hosts of NBC’s late night shows were hit with Covid, the network’s morning show had a host of its own catch the virus. Hoda Kotb — one of the hosts of the NBC’s “Today” — said on Thursday that she has tested positive for Covid. “Thx for well wishes!

By Anneken Tappe, CNN Business America closed out 2021 with strong jobs gains, economists predict. But just days into the new year, the Omicron variant is causing infections to soar and businesses to struggle. Will that derail the jobs recovery? It’s a bit too early to tell, in part because it’s unclear how long the

By Alicia Wallace, CNN Business The Omicron variant may be hurtling the labor market, hospitals, travel and in-person events into states of upheaval, but it’s not expected to deter consumers from spending, Wells Fargo economists said Wednesday. Consumer spending is expected to remain strong in 2022, despite an obstinate virus, a new variant causing a

By Julia Horowitz, CNN Business Retailers can breathe a sigh of relief now that the Christmas holiday is over, capping months of laborious planning to keep shelves stocked over the busy shopping period. But it may not be much of a respite. What’s happening: A new index from the Federal Reserve Bank of New York

By Jordan Valinsky, CNN Business Taco Bell is rolling out what’s arguably the tastiest subscription service yet: daily tacos. For $10 a month, Taco Bell customers can get one taco per day for 30 consecutive days. The national program, called Taco Lover’s Pass, is available to purchase beginning Thursday for members of its rewards program

By Nathaniel Meyersohn and Danielle Wiener-Bronner, CNN Business Montclair Bread Co. closed last weekend after a quarter of the staff tested positive for Covid-19. The bakery missed out on 25% of its monthly sales. “We’re basically open during the week to prep for the weekend,” said Rachel Wyman, the owner of the artisan bread, specialty

By Laura He, CNN Business A top Chinese official this week called for more tax cuts as the world’s second largest economy contends with fallout from renewed Covid outbreaks, a strict zero-tolerance approach to containing the virus and a deepening real estate crisis. “Our country’s economy is facing new downward pressures,” Premier Li Keqiang told

By Michelle Toh and Charles Riley, CNN Business Global stock markets retreated Thursday after the Federal Reserve sparked a major sell-off on Wall Street by signaling it may unwind economic stimulus more aggressively than investors had expected. Some markets in Asia fell sharply, with Japan’s benchmark Nikkei and Australia’s S&P/ASX 200 sliding 2.9% and 2.7%,

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. I spent the morning of January 6, 2021 on the phone with one of my sources at Fox — a true conservative who hated what Donald Trump had done to

By Matt McFarland, CNN Business General Motors CEO Mary Barra said Wednesday during CES that the automaker hopes to sell self-driving cars to consumers by the middle of this decade. GM has missed its own self-imposed self-driving deadlines in the past. The automaker claimed back in 2017 that it would be mass producing fully autonomous

By Chris Isidore, CNN Business Six employees at a Buffalo Starbucks that recently voted to join a union walked out just before 9 am Wednesday citing health concerns, prompting the temporary closing of the store. Starbucks said it had closed that location and others in the city to in-store customer traffic Monday, restricting them to

By Peter Valdes-Dapena, CNN Business Stellantis, the international automaker that owns brands like Jeep, Chrysler, Fiat, Ram and Peugeot, has entered into a wide-ranging agreement with Amazon. The deal will put Amazon software in Stellantis vehicles and will also put Stellantis’s electric vans into Amazon’s delivery fleet. Other automakers have reached similarly wide-ranging agreements in

By Niamh Kennedy, CNN Meghan, Duchess of Sussex will receive a confidential sum from the Mail on Sunday for infringement of copyright as her lengthy legal battle against the British tabloid comes to an end, court documents show. The duchess took two separate claims against the newspaper’s publisher: one of copyright infringement and another of

By Paul R. La Monica, CNN Business Bitcoin prices have pulled back lately — but Goldman Sachs still sees strong gains ahead in the coming years. The world’s most valuable cryptocurrency has fallen to about $43,000 after surging to a record high near $69,000 in November. Yet Goldman Sachs said in a report this week

By Anna Bahney, CNN Business For many people, buying a home just wasn’t in the cards this year. There were too few homes for sale that were too expensive to buy. Indeed, home prices have been on a tear, with third quarter home prices up more than 18% from a year earlier, according to the

By Chris Isidore, CNN Business Upstart electric truck maker Nikola is dropping its $2 billion patent infringement lawsuit against Tesla in which it charged that its larger, more established rival stole parts of Nikola’s design for a heavy duty truck. The suit was originally filed in 2018, when Tesla was still losing money, running short

By Peter Valdes-Dapena, CNN Business General Motors unveiled a new battery-electric pickup truck, the Chevrolet Silverado EV, during the Consumer Electronics Show. Although it shares its name with the popular gasoline-powered Silverado pickup, this Silverado is a completely different truck with a distinct design and major features not found on the internal combustion-powered models. GM’s

By Matt Egan, CNN Business American Express and BlackRock are the latest major companies to urge employees to start 2022 by working remotely as Covid-19 cases skyrocket. “We have seen an exponential increase in the spread of the Omicron variant across the world,” AmEx CEO Stephen Squeri said in a memo to employees on Tuesday.

By Charles Riley, CNN Business The United States is now the world’s leading exporter of liquified natural gas as Europe’s energy crisis and shortages in China send demand for American shipments soaring. LNG exports from the United States topped 7 million tonnes (7.7 million tons) in December, according to ship-tracking data from ICIS LNG Edge,

By Anneken Tappe, CNN Business A closely watched barometer for the job market offered a happy surprise for the new year: The ADP Employment Report was doubly as strong as expected in December. Economists had predicted 400,000 private sector jobs were added last month, but the report came in at a whopping 807,000. It was

By Julia Horowitz, CNN Business Markets climbed a wall of worry to new heights in 2021. Buoyed by gains at the end of the year, Wall Street is now even more certain there will be an encore performance. What’s happening: The risks identified over the past 12 months — looming interest rate hikes, rising inflation,