CNN-Business-Consumer

By Frank Pallotta and Nicole Goodkind, CNN Business Netflix, once a darling of Wall Street, is suddenly on the ropes. The streaming giant will report its second-quarter earnings on Tuesday, and it’s shaping up to be one of the most consequential moments in the 25-year history of the company. Netflix is having a terrible year.

By Danielle Wiener-Bronner, CNN Business When you walk into a supermarket and pick up an item — anything from milk to cereal to a can of beans — you’ll likely see a little date on the package preceded by “enjoy by,” “sell by,” or a similar phrase. You might think that date is the absolute

By Nathaniel Meyersohn, CNN Business In 2004, Procter & Gamble was looking for a hit. It had been two decades since the consumer products conglomerate introduced Tide liquid detergent, revolutionizing the way people washed their clothes. Cheaper rivals and in-house store brands were chipping away at Tide’s dominance. P&G had also found that consumers were

By Matt McFarland, CNN Business The problem with trees is that they are too slow. Part of the issue with catastrophic climate change is that, by some measures, an incredible amount of damage is already done. Even if all the coal-fired power plants were magically turned into wind and solar overnight, and all our cars

By Alicia Wallace, CNN Business Americans are feeling slightly better about the economy, but painfully high inflation is still keeping consumer sentiment at close to an all-time low, according to preliminary survey data released by the University of Michigan on Friday. The preliminary index for the university’s Surveys of Consumers rose to 51.1 in July

Martha C. White Although prices at the pump serve as one of the most prominent symbols of rampant inflation, economists are more worried about the spillover effects of price spikes for another major source of fuel: diesel. Diesel plays an outsized role in consumer prices because it and its chemical cousins, jet fuel and maritime

By Nicole Goodkind, CNN Business US markets took a beating on Thursday as big bank earnings delivered disappointing results. Markets and the economy have endured three turbulent months. The Federal Reserve’s rate rise regime and Russia’s invasion of Ukraine have slammed investor and borrower sentiment. The financial sector is hurting, too. Analysts expect earnings to

By Laura He, CNN Business China’s economy has recorded its worst quarterly performance in over two years, after months of harsh Covid lockdowns wreaked havoc across the country. Gross domestic product in the world’s second largest economy expanded by just 0.4% in the three months to June 30, compared with the same period last year,

By Sara Ashley O’Brien, CNN Business Five more passengers are suing Uber over alleged sexual assault incidents that occurred in recent months at the hands of drivers on its platform. The lawsuit is the latest reminder of the flood of lawsuits that Uber and competitor Lyft face as they work to combat well-known safety issues

By Jeanne Sahadi, CNN Business US employers say they expect the average raise to be 4.1% in 2023, which would be the largest hike in 15 years, according to a survey of more than 1,400 organizations from advisory firm Willis Towers Watson. But that extra money may not go far. That 4.1% is less than

By Jordan Valinsky, CNN Business Wordle is jumping from the P-H-O-N-E to the B-O-A-R-D. Hasbro is partnering with the New York Times, which owns the popular online word puzzle, to create “Wordle: The Party Game.” The new board game “delivers classic Wordle gameplay, but now in an all new way,” the companies said in a

By Peter Valdes-Dapena, CNN Business BMW is now offering British drivers the option of enjoying a heated seat on a monthly subscription basis. Of course, you can still get heated seats the regular way — just buy them as an option when you purchase the car — but for those who didn’t do that, or

By Anna Bahney, CNN Business Mortgage rates are on the rise again after a dramatic drop last week. The 30-year fixed-rate mortgage averaged 5.51% in the week ending July 14, up from 5.3% the week before, according to Freddie Mac. That is significantly higher than this time last year when it was 2.88%. Rates rose

By Nicole Goodkind, CNN Business JPMorgan Chase kicked off the second quarter earnings season with bad news: The bank temporarily suspended share buybacks and fell short of analysts’ expectations for earnings and revenue growth. Profit declined 28% from a year earlier to $8.65 billion and the bank reported earnings of $2.76 per share versus the

By Alicia Wallace, CNN Business A leading inflation indicator surged in June, showing that prices continue to remain stubbornly high. The Producer Price Index, a measure of the change in prices paid to US producers of goods and services, hit 11.3% in June compared to the same period a year ago and jumped 1.1% from

By Julia Horowitz, CNN Business Central banks have made clear that after a sluggish start, they’re serious about putting a lid on inflation. Now, as prices soar even faster than expected, they’re weighing increasingly drastic options. What’s happening: Investors see a growing probability that the Federal Reserve could hike interest rates by a full percentage

By Chris Isidore, CNN Business Maybe this counts as good news in a time of painful price increases for necessities such as food, fuel and housing: The cost of a US postage stamp just increased by a mere 2 cents. That raises the cost of mailing a first-class letter by 3.4%, to 60 cents —

By Danielle Wiener-Bronner, CNN Business The biggest trend in snacking is something small: Chip bags and sodas are going mini. PepsiCo is seeing “huge growth [in] small-format” snacks, as well as for mini cans of its full-sugar products, CEO Ramon Laguarta said Tuesday on an earnings call. The reason? “Portion control,” Laguarta said. PepsiCo has

By Laura He, CNN Business China’s real estate crisis is escalating, raising concerns about growing risks in the banking system. Desperate homebuyers across dozens of cities are refusing to pay mortgages on unfinished homes, according to state media reports and economists at international banks. In China, real estate firms are allowed to sell homes before

By Anna Cooban and Livvy Doherty, CNN Business Emirates airline has blasted one of the world’s busiest airports for its “incompetence” in failing to handle a surge in passengers. The Dubai-based airline on Thursday slammed demands made by London’s Heathrow airport earlier this week that carriers stop selling any more tickets for this summer. The

By Sean Lyngaas, CNN In the days before the January 6, 2021, insurrection, Chinese hackers sent out a flurry of malicious emails to prominent White House correspondents and other journalists at major US news outlets in an apparent intelligence collection effort, US cybersecurity firm Proofpoint said Thursday. As Chinese hackers scrambled to ascertain whether there

By Anna Bahney, CNN Business Rent continued to skyrocket to new record highs in Manhattan last month. The median monthly rent paid by a tenant for a condo or coop in Manhattan climbed to $4,050 in June, up nearly 25% from a year ago and setting a new record high for the fifth month in

By Alexandra Peers, CNN Business A bottle of Champagne has sold for $2.5 million, eclipsing the auction record for bubbly and likely becoming the most expensive bottle of wine ever sold. But there’s a fizzy gimmick: the magnum of Champagne Avenue Foch, 2017, comes with a single NFT that includes the digital art and intellectual