CNN-Business-Consumer

By Jeanne Sahadi, CNN Business Before the pandemic, many corporate leaders believed that allowing their employees to work from home would hurt productivity. But, in many cases, the pandemic proved otherwise. “Productivity [did not suffer] despite many companies going fully remote. Many thrived through that process and continue to hire at record pace,” said Ben

By Danielle Wiener-Bronner, CNN Business Food prices are still on the rise, but some relief may be on the horizon. In the 12-months ending in June, overall food prices rose 10.4%, the biggest annual increase since February 1981, according to data released Wednesday by the Bureau of Labor Statistics. Grocery prices jumped 12.2% in the

By Nathaniel Meyersohn, CNN Business In 1969, real estate investor Don Fisher opened a store in San Francisco aimed at teens and college kids, offering Levi’s blue jeans alongside records and tapes. Fisher planned to call the store Pants and Discs, but his wife Doris came up with the winning name: “The Gap,” shorthand for

Opinion by Suzanne DiBianca for CNN Business Perspectives The US Supreme Court’s ruling limiting the EPA’s authority to regulate greenhouse gas emissions is a wake-up call for Congress to pass urgent and meaningful legislation on climate and clean energy. The ruling not only impedes the federal government’s ability to slow climate change — it also

By Chris Isidore, CNN Business A bad quarter for Delta Air Lines passengers turned into a bad quarter for Delta investors, as the costs of service disruptions, coupled with high fuel prices and rising pay for employees, caused the company to fall well short of earnings forecasts. Delta posted adjusted earnings of $735 million in

By Laura He, CNN Business A scorching heat wave in China has forced a major manufacturing region to appeal to businesses and households to use less power, while fear of crop failure is sending pork prices soaring. Dozens of cities have been experiencing record-high temperatures at a time when the economy is still trying to

By Allison Morrow, CNN Business Editor’s Note: This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Good news and bad news, America: The US dollar and the euro are officially even, which should make your European summer vacay easier on the budget. A croissant

By Nicole Goodkind, CNN Business Billionaire activist investor Bill Ackman will close his special purpose acquisition company and return $4 billion to investors after failing to find an adequate target company to take public. In a letter to shareholders Monday, Ackman said he would return the funds and wind down his SPAC, Pershing Square Tontine

By Frank Pallotta, CNN Business Dave Chappelle‘s Netflix comedy special, “The Closer,” received huge backlash last year for the comedian’s jokes about the trans community that some found deeply offensive. The fallout created a firestorm both inside and outside of Netflix. Fast forward to Tuesday, when “The Closer” was nominated for two Emmys. “The Closer”

by Peter Valdes-Dapena, CNN Business It might surprise you to learn that the best-selling plug-in hybrid vehicle in America is, of all things, a Jeep Wrangler, the burly, boxy SUV engineered for hard off-road driving. There are other, seemingly more likely contenders, like the like the Toyota Rav4 Prime, a family-friendly crossover, or the Toyota

By Nicole Goodkind, CNN Business Most investors don’t lose an $11 billion bet and walk away unscathed, but a Chinese metal tycoon known as “Big Shot” has done exactly that. Xiang Guangda made a massive bet over the past few years that the price of nickel would fall, but in March of this year, futures

By Chris Isidore, CNN Business Ethiopian Airlines took delivery of a 737 Max from Boeing in June, the aircraft maker disclosed Tuesday. It’s the first time Ethiopian has taken a 737 Max since the March 2019 crash that killed all 157 people on board, and led to a 20-month grounding of the jet. The other

By Frank Pallotta, CNN Business Matthew Berry, ESPN’s longtime fantasy sports guru, is leaving the network, Berry and ESPN announced Monday. “Here is a sentence I never thought I’d write. I can confirm that after 15 amazing years, I am leaving ESPN,” Berry tweeted Monday. He added that when he came to the company in

By Julia Horowitz, CNN Business The US dollar is rising at a blistering clip, reaching its strongest level against other major currencies in almost two decades. That’s helpful for American tourists traveling abroad this summer. But on Wall Street, it’s growing cause for concern. “A very strong US dollar provides yet another headwind for earnings,”

By Livvy Doherty, CNN Business Heathrow Airport is asking airlines to stop selling any more tickets for travel this summer, as it announces a cap on passengers allowed to fly from the airport. The London airport will limit passengers to 100,000 a day until September 11, as it struggles to cope with high demand and

By Nicole Goodkind, CNN Business For the first time in 20 years, the exchange rate between the euro and the US dollar has reached parity — meaning the two currencies are worth the same. The euro hit $1 on Tuesday, down about 12% since the start of the year. Fears of recession on the continent

By Michelle Toh, CNN Business Disney is bringing BTS to its streaming services, adding the world’s biggest band to its roster of digital stars. In an announcement shared first with CNN Business, the entertainment giant said Monday that it would add new original shows featuring members of the South Korean pop group to Disney+. That

Opinion by Joseph H. Davis for CNN Business Perspectives The United States economy is in jeopardy. Higher prices for essentials like food and energy are crimping household incomes, while stronger consumer demand has pushed up the prices for a range of goods and services, from travel to apartments. Given this backdrop, many economists believe that

By Nicole Goodkind, CNN Business For the first time in 20 years, the exchange rate between the euro and the US dollar is nearly the same — the two currencies are less than one cent away from parity. The euro hovered around $1.004 on Monday afternoon, down about 12% since the start of the year.

By Julia Horowitz, CNN Business When Elon Musk announced his intention to buy Twitter almost 90 days ago, the world — and financial markets — looked different. The S&P 500 was 14% higher and had yet to enter a bear market. The war in Ukraine and inflation concerns had pushed investors into selling mode, but

By Laura He, CNN Business Chinese stocks fell on Monday as the threat of new Covid restrictions and a renewed regulatory offensive against big tech companies sapped investor confidence. Casinos in the gambling hub of Macao were ordered to close for the first time since February 2020 because of a Covid outbreak, sending shares of