CNN-Business-Consumer

By Rachel Ramirez, CNN The end of October is a sugar avalanche as kids don their Halloween costumes and snag as many sticky sweets as they can. But the prospect of collecting and eating a whole trick-or-treat bag of candy gets a little scary when you think about the impact. Not only are most Halloween

By Andy Rose, CNN The owner and co-founder of the sports drink company Red Bull has died, the company announced Saturday. Dietrich Mateschitz began marketing the drink in Austria in 1987, according to the company. “In these moments, the over-riding feeling is one of sadness,” Red Bull said in a company-wide email to employees. “But

By Ramishah Maruf, CNN It’s been a good year for Chick-fil-A — a recent survey ranked it as Gen Z’s top restaurant, with 15% of respondents listing it as their favorite choice. The annual Piper Sandler study surveyed 14,500 teens in 47 states, whose average age was just under 16 years old (15.8 years old,

By Anna Bahney The US housing market is in the midst of a major shift. After two years of stratospheric price appreciation, home prices have peaked and are on their way back down. But what homebuyers and homeowners alike want to know is: How much lower will prices go? The short answer: Prices are likely

Reuters A US judge in Texas ruled on Friday that people killed in two Boeing 737 MAX crashes are legally considered “crime victims,” a designation that will determine what remedies should be imposed. In December, some crash victims’ relatives said the US Justice Department violated their legal rights when it struck a January 2021 deferred

By Parija Kavilanz, CNN Business Tupperware wants to be where the cool kids play. The 76-year-old brand is on a quest to grab the attention of Millennials and Gen Zers, and wants to become as relevant in their everyday lives as it was for their grandmas and moms. But to get on their radar, Tupperware

By Allison Morrow, CNN Business Dozens of federal officials made lucrative stock and mutual fund trades in early 2020 as the government was preparing for the onslaught of Covid-19, according to a Wall Street Journal investigation. In January of that year, while the public was broadly unaware of the scale and severity of the threat

By Jeanne Sahadi, CNN Business There’s really nothing nice to say about inflation when it comes to your bottom line. It’s hard on your wallet. It’s hard on your savings because it reduces the buying power of the dollars you socked away. And it’s hard on your paycheck, because chances are your last raise did

By Ramishah Maruf, CNN Business Fashion powerhouse Balenciaga has officially severed ties with Kanye West following a series of antisemitic posts and other controversial comments from the rapper, according to a report from Women’s Wear Daily citing a statement from Balenciaga’s parent company. “Balenciaga has no longer any relationship nor any plans for future projects

By Alicia Wallace, CNN Business The US budget deficit was slashed in half during fiscal year 2022, a record $1.4 trillion drop driven by the winding down of massive pandemic-related spending and a jump in revenues for the federal government as jobs and wages surged during the economic recovery. Final figures released Friday by the

By Anna Cooban, CNN Business The BBC has taken a swipe at outgoing UK Prime Minister Liz Truss — with a little help from Rihanna. After a six-week premiership riddled with crises, Truss resigned on Thursday, making her the shortest-serving prime minister in the United Kingdom’s history. Just hours after Truss announced her departure, the

By Jeanne Sahadi, CNN Business The IRS on Friday announced a record increase in contribution limits to 401(k) and other tax-deferred retirement plans for 2023. Starting next year, you will be allowed to contribute up to $22,500 into your 401(k), 403(b), most 457 plans or the Thrift Savings Plan for federal employees. That’s $2,000 —

By Nicole Goodkind, CNN Business It’s been a tumultuous year for retail traders — people who buy shares of individual companies or indexes on popular trading platforms like Robinhood or E-Trade. Facing an economic outlook full of bear markets, high inflation and interest rate hikes, they’ve finally decided that they’ve had enough. What’s happening: Back

Swati Gupta, CNN Business Google is facing the heat in India. The country’s antitrust regulator has imposed a penalty of approximately 13.4 billion rupees ($162 million) on Alphabet Inc’s Google for abusing its “dominant position in multiple markets in the Android mobile device ecosystem.” The Competition Commission of India (CCI) has asked Google to modify

By Oliver Darcy, CNN Business The right-wing channel Newsmax has banned Lara Logan from its air after she went on a QAnon-style rant during an appearance on the network this week. In a bizarre interview, Logan told host Eric Bolling that “the open border is Satan’s way of taking control of the world,” and later

Jon Sarlin, CNN Business The big news in crypto this week came via a court filing in Texas. FTX, the crypto giant that is led by arguably the most powerful person in the industry, is under investigation by Texas regulators for selling unregistered securities. “The Enforcement Division is now investigating FTX Trading, FTX US, and

By Vanessa Yurkevich and Chris Isidore, CNN Business US freight railroads rejected a new sick leave proposal from a union of track maintenance workers that is threatening to go on strike in less than 30 days without a new labor deal. The Brotherhood of Maintenance of Way Employes Division announced last week that its rank-and-file

By Nicole Goodkind, CNN Business Former US Treasury Secretary Larry Summers said on Thursday that it’s “substantially” more likely than not that the United States will enter a recession next year. Recession became “almost inevitable” once inflation rates grew above 5%, he said. On an annual basis, prices rose by 8.2% in September. But this

By Peter Valdes-Dapena, CNN Business BMW recently announced a $1.7 billion investment to help prepare its huge Spartanburg, South Carolina, factory to produce electric cars and SUVs. That sum included $700 million for the construction of a battery manufacturing plant nearby. Spartanburg is BMW’s largest factory anywhere in the world. It employs 11,000 people and

By Alicia Wallace, CNN Business “Payday Friday” may soon be replaced by “Payday Wednesday.” This week, JPMorgan Chase, America’s largest bank, became the latest financial institution to offer customers early access to their direct deposits. Chase, the consumer and commercial banking arm of JPMorgan Chase, announced that its 1.4 million Secure Banking customers will automatically

By Chris Isidore, CNN Business American Airlines expanded on its plan to drop first-class seats on its international flights and replace them with more business class seats. Some of the new seats on long-haul international flights will be dubbed “Flagship Suites” and feature seats that convert into beds and doors for privacy. The change was

By Anna Bahney, CNN Business Home sales in the US declined for the eighth month in a row in September as surging mortgage rates and high prices pushed buyers out of the market. Sales of existing homes — which include single-family homes, townhomes, condominiums and co-ops — were down 23.8% in September from a year