CNN-Business-Consumer

By Julia Horowitz, CNN Business The Bank of England announced Monday that it would provide extra support to UK markets, beefing up its efforts to ensure financial stability after the government’s plan to slash taxes while boosting borrowing stoked panic. The central bank said that it was ready to buy up to £10 billion ($11

By Laura He, CNN Business Holiday spending during China’s Golden Week has plunged to its lowest level in seven years, as broad Covid curbs discouraged people from traveling or spending, while a darkening economic outlook continues to erode consumer confidence. Tourist spending for the week-long holiday that started on October 1 declined 26% to 287.2

By Zoe Sottile, CNN The bright orange, sticky residue that Cheetos leave on your fingertips has now been immortalized — by a 17-foot statue in Alberta, Canada. The Cheetos brand erected the statue of a hand holding a massive Cheeto, complete with orange fingertips, in Cheadle, Alberta. The community was chosen because of its name’s

By Ramishah Maruf Columbus Day, and now Indigenous People’s Day, will be observed on Monday, October 10 this year, and while some will have the day off from work or school, others may wonder what errands they can run or what movies to see. The federal holiday is always celebrated the second Monday of October.

By Chris Isidore and Christine Romans, CNN US factories are humming, and manufacturers are scrambling to find workers as the pace of hiring hits levels not seen in decades. Friday’s September jobs report showed US manufacturers added another 22,000 workers in September, increasing employment in the sector by nearly 500,000 over the course of the

By Paul R. La Monica, CNN Business There’s lots of anxiety swirling about a possible recession. Is Corporate America starting to get nervous, too? We’ll get a better sense this week when several top financial firms and consumer companies report third-quarter earnings. Asset management giant and iShares owner BlackRock is due to report Thursday. JPMorgan

By Frank Pallotta, CNN Business HBO has created a kingdom of hits, with none as popular as “Game of Thrones.” But “Game of Thrones” ended with a thud in 2019 when critics and fans were unhappy with the fantasy epic’s ho-hum conclusion (Bran Stark on the Iron Throne? C’mon!). So what was HBO to do?

By Kelly McCleary, CNN “Saturday Night Live” opened its show this week by testing the temperament of contestants being read news headlines on a game show called “So You Think You Won’t Snap!” “Have you noticed that everyone around you is angry and crazy? People are flipping out at Target, stabbing is back and the

By Ramishah Maruf, CNN ExxonMobil has been ordered to reinstate two scientists who were fired after being suspected of leaking information to The Wall Street Journal, the US Labor Department said Friday. A federal whistleblower investigation found the oil and gas giant terminated the two computational scientists illegally in late 2020. The Labor Department’s Occupational

By Peter Valdes-Dapena, CNN Business Rivian, the Irvine, California-based electric vehicle company, is recalling nearly all the vehicles it has produced to tighten a loose fastener in the vehicles’ front suspension. The recall involves 12,212 electric pickups, vans and SUVs, according to paperwork the company filed with the National Highway Traffic Safety Administration. The Amazon-backed

By Julia Horowitz, CNN Business Pension funds are designed to be dull. Their singular goal — earning enough money to make payouts to retirees — favors cool heads over brash risk takers. But as markets in the United Kingdom went haywire last week, hundreds of British pension fund managers found themselves at the center of

By Danielle Wiener-Bronner, CNN Business With grocery prices soaring, consumers are changing the way they shop for food. That’s great news for discount grocers like bare-bones supermarket Aldi. Aldi, which requires a 25-cent deposit to use grocery carts, sells mostly store brands and doesn’t waste time on elaborate displays, might not be for everyone. But

By Nathaniel Meyersohn, CNN Business Online ordering is kind of a big thing these days, if you haven’t heard yet, and just about every supermarket chain in America offers delivery and curbside pickup. Except Trader Joe’s. The private company, which started in 1967 to appeal to counterculture shoppers overlooked by mainstream stores, rejects delivery because

By Matt McFarland, CNN Business Tesla CEO Elon Musk said Thursday that production of its Semi truck has begun, and deliveries to one customer, Pepsi, will occur in December. Pepsi said in a statement Friday that the trucks will support its Frito-Lay plant in Modesto California, and its Pepsi beverage plant in Sacramento. Neither Musk

By Chris Isidore, CNN Business Homeowners could be hit with as much as $17 billion in uninsured losses due to flooding from Hurricane Ian due to the latest estimate on damage caused by the storm. The damage estimate comes from CoreLogic, a leading research firm that tracks and estimates the cost of damages from natural

By Matt Egan, CNN Business OPEC+’s decision to slash oil production has set off bipartisan fury in Washington directed at the Saudi Arabia-led group, raising calls for a hard-hitting US response. Within minutes of the OPEC+ announcement, the White House warned it will “consult with Congress on additional tools and authorities” designed to curb OPEC’s

Opinion by Gad Levanon for CNN Business Perspectives To many economists and analysts, the US economy has represented a paradox this year. On the one hand, GDP growth has slowed significantly, and some argue, even entered a recession. On the other hand, overall employment growth has been much stronger than normal. While GDP declined at

By Hanna Ziady, CNN Business The UK government could award oil and gas companies more than 100 new licenses to drill in the North Sea, as it looks for ways to bolster energy security amid a global supply crunch. Launched Friday, the licensing round won’t lead to new UK production for several years. And when

By Nicole Goodkind, CNN Business The White House isn’t very happy with OPEC’s decision to slash oil production by 2 million barrels per day. Consumers won’t be big fans either, as the move will likely send gas prices higher. But there’s one big winner coming out of the ordeal: Oil stocks. What’s happening: The cartel

By Julia Horowitz, CNN Business Credit Suisse said it will buy back up to $3 billion in its own bonds to save money on debt servicing costs while taking advantage of low prices. The announcement on Friday comes after investors displayed concerns about the financial position of the troubled Swiss bank before it announces its

By Michelle Toh, CNN Business Hong Kong’s flagship airline Cathay Pacific is facing “unprecedented” staff shortages and may not be ready to handle a surge in demand, as the city winds up its strict Covid policy and reopens for international travel. A top local union warned Thursday of “a record number of resignations from the