CNN-Business-Consumer

By Nectar Gan and CNN’s Beijing bureau China’s southern city of Shenzhen on Monday shut down the world’s largest electronics market and suspended public transport nearby as authorities enforced neighborhood-wide lockdowns in response to a small number of Covid cases. Huaqiangbei, a busy shopping area home to thousands of stalls selling computer components, mobile phone

By Zoe Sottile, CNN Madam. C.J. Walker, the first self-made female millionaire in the U.S., is the next female role model to be honored in Barbie’s line of Inspiring Women dolls. Walker, the daughter of former slaves, was born as Sarah Breedlove. She achieved enormous success by founding Walker Manufacturing Co., a line of haircare

By Peter Valdes-Dapena, CNN Business If you’ve seen the new DeLorean Alpha5 electric car, you might be disappointed that it doesn’t look much at all like the famous DeLorean DMC-12 from the “Back to the Future” movies. Really, other than the gullwing doors, there’s not much that clearly ties the cars together. But the Alpha5,

By Ramishah Maruf, CNN Soaring inflation has made almost everything more expensive. And it has significantly increased the cost of one major budget buster — raising kids. It now costs $310,605 for a married middle-income couple with two children to raise their youngest child from birth through high school, according to a recent estimate from

By Matt McFarland, CNN Business Honda has struck a deal with Korean battery giant LG Energy Solution to build a $4.4 billion US factory to supply its electric vehicles. The partners haven’t announced where in the United States they’ll build the factory. They said in a joint news release Monday that they plan to begin

By Julia Horowitz, CNN Business Power prices in Europe continue to smash records, intensifying the region’s energy crisis and fanning fears about access to electricity and heating as the weather begins to cool. German power prices for next year, which are considered Europe’s benchmark, briefly jumped above €1,000 ($999.80) per megawatt hour on Monday before

Opinion by Kara Alaimo for CNN Business Perspectives The latest bombshell about Twitter’s alleged lack of security and potential vulnerabilities is yet another sign that social media networks shouldn’t be trusted to regulate themselves. Last month, Twitter’s former head of security, Peiter “Mudge” Zatko, told Congress and federal agencies that the company’s security practices pose

By Paul R. La Monica, CNN Business Welcome to the lazy, crazy days of summer on Wall Street. Stocks fell again Monday in a choppy session. So it looks like investors weren’t completely ready to buy the proverbial dip in the absence of any major news. The Dow finished Monday down nearly 185 points, or

By Laura He, CNN Business The Chinese yuan sank to the lowest level in two years after hawkish comments by Federal Reserve chairman Jerome Powell spurred a recent rally for the greenback. The yuan — also known as the renminbi — lost about 0.5% against the dollar on Monday in offshore trading outside mainland China.

By Chris Isidore, CNN Business Few companies flourished more amid the pandemic’s economic upheaval than Peloton. With people unable (or unwilling) to go to the gym, consumers rushed to buy its exercise equipment and, more importantly, sign up for its online classes. Peloton posted its first quarterly profits in calendar year 2020 as revenue jumped

By Paul R. La Monica, CNN Business August is about to come to a close, which means that the summer is almost over in the Northern Hemisphere. (Have fun in the sun, Australia!) If that’s not enough to bum you out, then this might: September, which begins on Thursday, is historically the worst month of

By Frank Pallotta, CNN Business When HBO Max launched in 2020, it was designed to be the streaming home for everything Warner Bros., DC and HBO, with plenty of stuff for the kids to watch, too. Now, suddenly, HBO Max is starting to look a little different. The service, which like CNN is owned by

By Zoe Sottile, CNN One small step for a man, one giant leap for… doughnuts? Krispy Kreme will launch a special, limited-edition Artemis Moon doughnut on Monday, the day NASA is expected to launch a rocket, designed to eventually carry humans, on an uncrewed test flight around the moon. The Artemis I mission is the

By Ramishah Maruf, CNN The Wendy’s mascot has a new hairdo on its Canadian social media sites — all in support of one of the nation’s veteran journalists. The fast food giant’s Canada unit posted a new profile picture on its Twitter feed Thursday that gave Wendy’s iconic red pigtails a gentle gray shade. The

By Ramishah Maruf, CNN Workers at a Chipotle Mexican Grill in Lansing, Michigan, voted to unionize Thursday, becoming the first of the fast-casual chain’s 3,000 locations to organize. The workers at the Lansing Chipotle voted to form a union with the International Brotherhood of Teamsters. In a release Thursday, the union said that workers are

By Jeanne Sahadi, CNN Business Federal Reserve Chairman Jerome Powell on Friday made clear that interest rates were likely to continue moving higher in the central bank’s ongoing bid to quash high inflation. The Fed intends to use its policymaking “tools forcefully to bring demand and supply into better balance,” Powell said during his keynote

By Martha C. White Federal Reserve chairman Jerome Powell warned that the central bank’s mission to tame inflation will result in “some pain” for US households. In a keynote speech at the Federal Reserve’s annual Jackson Hole Economic Symposium Friday morning, Powell said that the path to reducing inflation would not be quick or easy,

By Jeanne Sahadi, CNN Business The now viral phrase “quiet quitting” is annoyingly imprecise and misleading. Some say it means doing the bare minimum at work or just not going above and beyond. Others say it’s about setting healthy boundaries or not mindlessly buying into ‘hustle culture.’ And then there are those who say it’s

By Anna Cooban, CNN Business Russia is burning an estimated $10 million worth of natural gas a day near its border with Finland, analysts say, even as it threatens to push Europe into a winter energy crisis by restricting exports to Germany and other countries. State gas giant Gazprom is burning off, or “flaring,” about

By Alicia Wallace, CNN Business The Federal Reserve’s favored inflation indicator showed that prices took a breather last month as fuel costs continued to fall from record highs. The Personal Consumption Expenditures price index rose by 6.3% for the year ended in July, down from the 40-year high of 6.8% reported in June, according to

Martha C. White Inflation talk is expected to dominate the Federal Reserve’s annual summer gathering in Jackson Hole, Wyoming, which kicked off Thursday evening. Wall Street will be closely watching the Jackson Hole Economic Symposium — which returned to an in-person format after two years of being held virtually — searching for clues about where

By Julia Horowitz, CNN Business The big event for investors on Friday is in Jackson Hole, Wyoming, where Federal Reserve Chair Jerome Powell will speak about the economy at a gathering of central bankers. Wall Street will be hanging on to Powell’s every word for clues about just how big the Fed’s next rate hike

By Parija Kavilanz, CNN Business We love our pets, but their shedding? Not so much. Pesky pet hair and dander loves to cling on to clothes and it often turns into a bigger mess when it’s run through a regular laundry machine. Household appliances maker Maytag says it has a solution to this long-standing pet