CNN-Business-Consumer

By Matt McFarland, CNN Business The Department of Transportation announced Thursday that it will soon fund up to $1 billion in projects to reconnect city neighborhoods that have been scarred by highways. Urban experts say the investment pales in comparison to the long-running negative impacts of urban highways, but welcome the funding as a way

By Julia Horowitz, CNN Business Few investors will have experienced a tougher beginning to a year than the six-month stretch that just finished. Professionals have been beaten down, while amateur traders — used to 2021’s eye-popping rallies — were dealt a harrowing reality check. What’s happening: The S&P 500 notched its worst start since 1970,

By Jordan Valinsky, CNN Business Kohl’s is no longer for sale. The department store announced Friday that it has ended its strategic review process and will no longer consider selling itself to Franchise Group, a holding company that owns The Vitamin Shoppe and other retail brands. Kohl’s blamed extreme market volatility and said its finances

By Frank Pallotta, CNN Business “Stranger Things 4 — Vol. 2″ hits Netflix this weekend, and the kids from Hawkins, Indiana, are back at just the right time for the streaming giant. It’s been an awful 2022 for Netflix. Its stock is down 70% this year. In April, the company reported that it lost subscribers

By Diksha Madhok, CNN Business One of the world’s richest men is launching Pret A Manger in India, adding the British coffee and sandwich store brand to a huge business empire that spans energy, retail and telecommunications. A unit of Mukesh Ambani’s conglomerate Reliance Industries said on Thursday that it has entered into a “long-term

By Laura He, CNN Business Hong Kong’s new leader John Lee on Friday vowed to strengthen the city’s standing as a global business hub, but he gave no hint of diverging from Beijing’s insistence on strict zero-Covid rules. The former British colony’s reputation as an international financial center has been battered during the last two

By Nicole Goodkind, CNN Business The S&P 500 has posted its worst first half in more than 50 years, dropping 20.6% during the first 6 months of 2022. Stocks closed down on Thursday as Wall Street said goodbye to a dismal second quarter and first half of the year. All three major indexes ended the

By Alicia Wallace, CNN Business An inflation gauge closely followed by the Federal Reserve showed consumer prices remained flat in May, indicating that inflation had yet to abate despite the central bank’s initial efforts to cool the economy. The monthly Personal Consumption Expenditures price index increased by 6.3% for the year ended in May, the

By Jordan Valinsky, CNN Business Clearly, this isn’t your father’s RadioShack. The zombie retailer’s Twitter account contains a stream of explicit comments, vulgarities and a bunch of drug references. Many companies have edgy social media presences, but not like this. So what’s going on? RadioShack is trying to sell you cryptocurrency — with an attitude.

By Julia Horowitz, CNN Business Dealmaking booms when markets are stable and businesses are feeling good about the economy and access to financing. When conditions deteriorate, confidence flags, and the number of companies going public or pursuing takeovers drops. That’s what is happening now. Details, details: The number of global initial public offerings, or IPOs,

By Nicole Goodkind, CNN Business Prominent Wall Street economists like Mark Zandi, investing luminaries like ARK Invest’s Cathie Wood and executives like JP Morgan Chase CEO Jamie Dimon can make recession predictions until they’re blue in the face, but their guidance will remain just that — an economic forecast. That’s because, in the United States,

By Laura He, CNN Business China’s huge manufacturing and service industries just saw their first month of growth since February, according to surveys published Thursday, as Covid restrictions were eased in many cities. But the shadow of further lockdowns still looms over the world’s second biggest economy as Beijing sends mixed messages about the best

By Parija Kavilanz, CNN Business It has a square shape, no stick, and will make your fingertips cold and sticky as you gingerly bite into its thin chocolate covering to reach the delicious vanilla ice cream encased inside. This is the iconic Klondike ice cream bar, which is hitting a major milestone birthday this year:

By Matt McFarland, CNN Business Tesla is increasingly turning to machines rather than humans as it attempts to develop autonomous vehicles. As part of Tesla’s plans to cut 10% of salaried staff, the company has laid off a significant number of its data annotation specialists. These specialists do grunt work that is critical to empowering

By Anna Cooban, CNN Business It’s getting harder for shoppers in the United Kingdom to find Heinz baked beans. Blame food price inflation. Tesco, the country’s biggest supermarket chain, has stopped selling some products made by Kraft Heinz in a dispute over prices. Kraft Heinz is behind some of the country’s favorite pantry staples, including

By Jordan Valinsky, CNN Business Unilever has sold its Ben & Jerry’s business in Israel to its distributor in the country, following ongoing controversy related to its activities in Israel and the West Bank. Unilever announced Wednesday the sale for an undisclosed amount to American Quality Products (AQP), which distributes Ben & Jerry’s in Israel.

By Paul R. La Monica, CNN Business Cruise giant Carnival was hit hard during the worst of the pandemic. Now, a top Wall Street analyst has issued a dire potential outlook for the company in the case of recession. Morgan Stanley’s Jamie Rollo outlined a worse-case scenario: Carnival stock could fall to $0 in the

By Alicia Wallace, CNN Business The US economy shrank at a slightly faster rate than previously estimated during the first quarter, the Bureau of Economic Analysis said Wednesday. With one quarter of negative economic growth in the books, the data adds to fears that a recession may be looming. Real gross domestic product declined at

Opinion by Dana Peterson for CNN Business Perspectives Aside from, “You’re on mute,” “I quit” has likely become one of the most popular sayings in the US over the last two years. But while more people are returning to in-person meetings, quitting does not appear to be letting up. Indeed, an astounding 4.4 million people

By Jordan Valinsky, CNN Business Bed Bath and Beyond CEO Mark Tritton is out after only three years at the helm of the rapidly sinking retailer. The beleaguered company announced multiple changes to its leadership Wednesday, including replacing Tritton. In the interim, Bed Bath and Beyond has tapped Sue Grove, an independent director on the

By Julia Horowitz, CNN Business A growing number of investors have come to the conclusion that a recession in the United States is probably looming, fueling a sharp sell-off in stocks and bonds as Wall Street braces for impact. What’s happening: A shallow recession late this year or early next year is “becoming the consensus

By Danielle Wiener-Bronner, CNN Business Coca-Cola has another new flavor. This time, it got some help. The latest product out of Coca-Cola Creations — Coke’s innovation platform, which brought us starlight and pixel-flavored sodas — is a collaboration with Marshmello, a masked DJ and electronic music producer. If you think the artist worked with Coke

By Jordan Valinsky, CNN Business Taco Bell is testing a new menu item with a beloved snack food. The fast-food chain hopes the creation can replicate the success of its Doritos shells. The experiment: A massive Cheez-It, which is 16 times the standard size, serves as the base for Taco Bell’s new “Big Cheez-It Tostada.”

By Laura He, CNN Business Shanghai Disneyland will reopen Thursday after a three-month hiatus, as China eases more Covid-related restrictions. Shanghai Disney Resort said Tuesday the park would resume operations “with limited daily capacity and enhanced health and safety protocols” in line with Chinese government regulations. “During the initial reopening phase, the majority of Shanghai

By Swati Gupta, Rhea Mogul, Esha Mitra and Alex Stambaugh, CNN Religious tensions are flaring in India following the killing of a Hindu man allegedly by two Muslim assailants as authorities attempt to stop video of the brutal attack from circulating online. Officials in the western city of Udaipur, Rajasthan state, announced a curfew and

By Philip Wang and Helen Regan, CNN Nobel Peace Prize laureate and journalist Maria Ressa said Tuesday the Philippine government has ordered her news organization Rappler to shut down. Ressa, CEO and founder of Rappler, released a statement during the East-West Center’s International Media Conference in Honolulu saying the Philippine Securities and Exchange Commission (PSEC)

By Jeanne Sahadi, CNN Business Inspire your team. Deliver results. Keep costs under control. Those have always been top responsibilities for leaders and managers at work. But their job duties have grown more time-consuming and complex thanks to the stress of the pandemic, searing political discord, urgent social justice issues, geopolitical earthquakes, the Great Resignation