CNN-Business-Consumer

By Alexandra Peers, CNN Business Credit giant Equifax sent lenders incorrect credit scores for millions of consumers this spring, in a technology snafu with major real-world impact. In certain cases the errors were significant enough — the differential was at least 25 points for around 300,000 consumers — that some would-be borrowers may have been

By Anna Cooban, CNN Business The world’s oil-exporting countries have agreed to a tiny increase in output next month amid fears that a global recession will crimp demand. The Organization of the Oil Exporting Countries and its allies — which includes Russia — also known as OPEC+, said on Wednesday that it would produce an

By Matt Egan, CNN Business Prices at the pump continue to sink, providing relief to inflation-weary consumers and an economy mired in a slowdown. The national average for regular gasoline dropped three cents to $4.16 a gallon on Wednesday, according to AAA. That marks the 50th consecutive day of falling prices. Gas prices have tumbled

By Nicole Goodkind, CNN Business Americans may be wondering why they’re forced to spend more than $4 per gallon at the pump while energy companies are raking in record profits. Even more aggravating: Exxon and Chevron announced last week they’d spend billions of dollars of their earnings buying back their own stock, fattening investors’ portfolios.

By Julia Horowitz, CNN Business China’s yuan has fared better than many other major currencies this year. It’s shed 6.5% against the US dollar, holding its ground as the greenback has gone on a breakneck rally. The euro, the British pound and South Korea’s won have all dropped more than 10%, while Japan’s yen has

By Michelle Toh, CNN Business The Reddit retail army is back. A little-known Hong Kong-based company appears to have become the latest obsession of traders on the popular Reddit forum WallStreetBets, helping its stock shoot up 21,000% since its IPO less than a month ago. Shares of AMTD Digital have spiked nearly 3,000% over the

By Laura He and CNN’s Beijing Bureau, CNN Business China has suspended some trade with Taiwan in apparent retribution for a visit by the US House Speaker Nancy Pelosi to the self-governing island. The curbs include the suspension of some fruits and fish imports from Taiwan, and exports of natural sand to the island. China

By Matt Egan, CNN Business Americans are piling up credit card debt as they struggle to keep up with the high cost of living. US household debt surpassed $16 trillion for the first time ever during the second quarter, the New York Federal Reserve said Tuesday. Even as borrowing costs surge, the NY Fed said

By Jordan Valinsky, CNN Business Taco Bell’s Mexican Pizza is finally returning to menus following a three-month absence. The chain announced the meal is returning permanently on September 15, which is earlier-than-expected because Taco Bell said it “worked quickly to restock the beloved menu item.” Mexican Pizza came back to menus after a two-year hiatus

By Alicia Wallace, CNN Business The number of available jobs in the US shrank considerably in June, according to new data released Tuesday by the Bureau of Labor Statistics. Job openings dropped to 10.7 million in June, down from a revised 11.3 million in May, according to the latest Job Openings and Labor Turnover Survey,

By Julia Horowitz, CNN Business Investors are anxious, tired and gloomy as they digest the worst start to the year since 1970 and try to chart a path forward. But you wouldn’t know it from watching major stock indexes. What’s happening: The S&P 500 rallied more than 9% in July, its best month since November

By Laura He, CNN Business Global markets fell on Tuesday as investors feared US House Speaker Nancy Pelosi’s visit to Taiwan could severely escalate tensions with China. US and European equities followed Asian indexes down as investors weighed the market implications of the trip. Hong Kong’s Hang Seng Index fell 2.4%, and mainland China’s Shanghai

By Nathaniel Meyersohn, CNN Business A glimmer of relief is emerging at the checkout aisle: the return of discounts. Walmart, Best Buy, Gap, Target, Bath & Body Works and others are increasing promotions and lowering prices on merchandise to entice inflation-weary shoppers to buy extra goods sitting on their shelves. Months ago these chains stocked

By Michelle Toh, CNN Business For years, KFC customers in China wondered why the chain didn’t sell chicken feet, which are a delicacy in the country. Now, “I can report back that for this year, for 2022, we are finally selling chicken feet,” Yum China CEO Joey Wat told CNN Business in an interview Monday.

Opinion by Emily Parker for CNN Business Perspectives Cryptocurrency is having an existential crisis. Last month, crypto lender Celsius filed for bankruptcy protection. It has frozen withdrawals since June 12, and it’s unclear if or when customers will get their money back. But Celsius is just one domino to fall. Crypto lender Voyager Digital also

By Julia Horowitz, CNN Business The highest oil prices in a decade. A renewed government focus on energy security. Huge demand for refining crude so it can be used as fuel. Conditions for Big Oil companies haven’t looked this good in years, and ExxonMobil, Chevron and Shell plan to ride the wave as long as

By Anna Cooban, CNN Business Europe’s biggest economy is suffering — and it could spell trouble for the whole continent. German retail sales slumped 8.8% in June compared with the same month a year ago, according to preliminary data from the country’s Federal Statistics Office released Monday. That’s the biggest drop since officials started keeping

By Julia Horowitz, CNN Business The 10-mile-long island of Schiermonnikoog is known as one of the most beautiful places in the Netherlands, boasting the widest beach in Europe, 300 different species of birds and a bustling tourist trade. But after the Dutch and German governments approved the development of a new gas field roughly 12

By Laura He, CNN Business Alibaba shares fell after US regulators added the stock to a growing list of Chinese firms that might be kicked off Wall Street if US auditors can’t inspect their financial statements. Alibaba slid as much as 6% in Hong Kong on Monday morning, but then pared losses to 3.8% in

By Anna Cooban, CNN Business Workers are fed up. More than two years into the pandemic, many have burned out, quit their jobs or are struggling to make ends meet as record inflation takes a huge bite out of their paychecks. But, for the past eight weeks, thousands of people in the United Kingdom have

By Laura He, CNN Business China’s embattled property giant Evergrande has failed to deliver a preliminary debt restructuring plan it had promised by July 31, leading to further concerns about the future of the world’s most indebted developer. The real estate company’s failure to meet its self-imposed deadline comes at a time when China’s entire

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. Penguin Random House announced its bid to acquire Simon & Schuster in November 2020. The deal — combining two of the top five book publishers in the United States —

By Emmy Abbassi, CNN Here’s your chance to earn some sand dollars. Hotels.com is looking to hire a Retro Beach Motelier, who will visit several retro beach motels across the United States and enjoy oceanside views in 1950s style. The itinerary is comprised of Hotels.com’s 10 best retro beach motels across America, including The Pearl

By Zoe Sottile, CNN Cat food brand Fancy Feast is expanding into feline-inspired human cuisine, with a New York City Italian restaurant designed to celebrate the company’s new line. Gatto Bianco, which means “white cat,” is described by Fancy Feast as an “Italian-style trattoria,” and will be open for dinner reservations on August 11-12 only,