CNN-Business-Consumer

Opinion by Sarah Anderson and Rebekah Entralgo for CNN Business Perspectives Imagine if America’s ultra-wealthy invested the financial gains they made during the pandemic in affordable housing, child care centers or any of our country’s other urgent human needs. As of May, US billionaires had seen their wealth rise by more than $1.7 trillion —

By Anna Cooban, CNN Business Nearly one third of households in the United Kingdom will face poverty this winter after paying energy bills that are set to soar again in January, campaigners say. About 10.5 million households will be in fuel poverty for the first three months of next year, according to estimates from the

By Nicole Goodkind, CNN Business It’s August, and that means pretty much all of Wall Street is on vacation right now. The Fed has locked its doors and said, “See you in September.” And politicos are island hopping: VP Kamala Harris made a fundraising appearance on the Vineyard this week alongside the Obamas. Turns out

By Laura He, CNN Business Tesla’s sales of China-made vehicles plunged 64% in July from a month earlier, as the company’s ambitious upgrade of its Shanghai factory disrupted production. The sharp drop for Tesla comes as sales of new energy vehicles in China more than doubled, as the world’s largest car market aggressively promotes switching

Martha C. White Gas prices have been trending downward for more than 50 consecutive days, giving drivers some much-needed financial relief at the pump. But nobody’s popping the champagne just yet. While gas prices have played a large role in the current bout of historic inflation, analysts warn that a number of factors remain that

By Peter Valdes-Dapena, CNN Business In June, Toyota issued a warning to owners of its BZ4X electric SUV that they should stop driving the vehicle and have it transported to a dealership because of a severe problem: the wheels could fall off while driving even after just a short time on the road. Toyota did

By Paul R. La Monica, CNN Business Meme mania has returned to the stock market with a vengeance. Shares of movie theater chain AMC, video game retailer GameStop and struggling home furnishings retailer Bed Bath & Beyond soared Monday, extending last week’s big gains. AMC was up 16% and has now spiked 70% in just

By Frank Pallotta, CNN Business Mike Tyson is not happy about Hulu’s new scripted limited series about his life. The former heavyweight champion on Saturday voiced his displeasure over Hulu’s new series “Mike,” which debuts on August 25 and stars Trevante Rhodes, from 2016’s “Moonlight,” as the famed boxer. “Don’t let Hulu fool you. I

By Matt Egan, CNN Business Even as some business groups cry foul over the tax provisions in the Inflation Reduction Act, economists at Goldman Sachs say the landmark bill will barely put a dent in massive corporate profits. To pay for historic climate investments, the legislation that passed the Senate on Sunday imposes a 15%

Opinion by Orphe Divounguy for CNN Business Perspectives Rising home prices and mortgage rates have made it next to impossible for many Americans to afford a home. And, even though the market is starting to show signs of cooling, many prospective buyers will remain on the sidelines for now. Although they have fallen slightly from

By Laura He, CNN Business China’s export sector delivered robust growth in July, providing much-need support for the world’s second largest economy that is almost certain to miss its GDP target this year. Exports measured in US dollars jumped 18% in July from a year ago, marking the fastest pace of growth this year, according

By Chuck Johnston Another wave of airline cancellations and delays is being felt across the United States on Sunday. According to the flight tracking website, FlightAware, there have been 912 flights canceled so far on Sunday. A total of 6,378 flights have been delayed across the United States. Chicago O’Hare saw the most cancellations and

By Ramishah Maruf, CNN The Texas jury’s decision last week to have Alex Jones face punitive damages of more than $45 million in a lawsuit filed by the parents of Sandy Hook shooting victim Jesse Lewis was a “reckoning that was 10 years in the making,” CNN’s chief media correspondent Brian Stelter said. A pair

By Julia Horowitz, CNN Business The US dollar has been on a tear this year. That’s good news for American tourists gallivanting around Europe, but bad news for pretty much every other country in the world. The greenback is up more than 10% in 2022 compared to other top currencies — near its highest level

By Zoe Sottile, CNN A mattress brand is hiring for a position where sleeping on the job is not just accepted — it’s mandatory. Casper, a New York-based company founded in 2014, is hiring “Casper Sleepers” to sleep for a living. Casper Sleepers will sleep “in our stores, and in unexpected settings out in the

By Julia Horowitz, CNN Business After the Federal Reserve’s July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish. After embarking on an aggressive rate-hike spree this year in a bid to fight inflation, the Fed indicated it could downgrade the size of its hikes moving forward. “We’ve been front-end loading

By Frank Pallotta, CNN Business Netflix has had a terrible 2022. In April, it said it lost subscribers for the first time since 2011. Its stock has tumbled more than 60% so far this year. Yet its recent struggles may not be the start of a downward spiral or the beginning of the end for

By Ramishah Maruf, CNN Tesla’s autopilot and self-driving claims are under fire again, this time from the California Department of Motor Vehicles in a complaint it filed on July 28. The complaint alleges that the company made “untrue or misleading” statements in advertisements on its website by claiming that Tesla vehicles were, or could be,

By Natasha Chen, CNN Business On any given weekend night in North Hollywood, a group of dancers in outlandish costumes holds signs urging customers to stay away from the Star Garden topless bar. More than a dozen of the club’s dancers say they’ve been locked out for four-plus months because they petitioned the owners to

By Nathaniel Meyersohn, CNN Business Kirkland Signature. Two-Buck Chuck. Simple Truth. Cat & Jack. Great Value. Amazon Basics. Store brands have never been more popular. They have become forces in their own right and make up around 21% of sales in the $1.17 trillion US grocery industry, according to IRI. As prices surge, store brands

By Vedika Sud, Barbara Starr, Sahar Akbarzai and Kathleen Magramo, CNN The United States is to take part in a joint military exercise with India less than 100 kilometers (62 miles) from the South Asian country’s disputed border with China. The military drills will be held in mid-October at an altitude of 10,000 feet in