CNN-Business-Consumer

By Julia Horowitz, CNN Business West Texas Intermediate crude, the reference point for US oil prices, usually trades at a discount of a few dollars to Brent crude, the global benchmark. But this morning, the near-term futures contracts for WTI and Brent are both roughly $115 per barrel — an indication of how the market

By Nathaniel Meyersohn, CNN Business Inflation is weighing on everyone — even the world’s biggest stores. Walmart said Tuesday that higher costs and supply chain constraints squeezed its profit during its latest quarter. Walmart also slashed its profit outlook for the year, signaling that it expects inflation to continue to hurt its business. “Bottom-line results

By Jeanne Sahadi, CNN Business Unless someone else does your shopping and manages your money, it’s impossible to miss the signs of inflation on your expenses. For retirees — especially those on a fixed income — high inflation can really bite. If you’re retired, we’d love to hear how inflation is affecting your household spending

By Anna Bahney, CNN Business Home prices are at record highs and still rising, but there are some early indications that the market may be starting to cool. For sellers looking to get top dollar for their home, the time to sell is now. But homeowners are still holding back from listing their homes, said

By Diksha Madhok, CNN Business A month ago, as Russia’s war in Ukraine pushed the world to the brink of a food crisis, India’s prime minister Narendra Modi offered to help countries facing shortages. “We already have enough food for our people but our farmers seem to have made arrangements to feed the world,” Modi

By Parija Kavilanz, CNN Business Weddings typically aren’t the occasion to throw convention to the wind, but some brides are doing just that with at least one centerpiece of their nuptials — the white wedding dress. Among wedding trends heating up, sellers have noted a surge in interest in black bridal gowns. According to Google

By Esha Mitra and Jessie Yeung, CNN A couple in India are suing their son and daughter-in-law — for not giving them grandchildren after six years of marriage. Sadhana and Sanjeev Prasad, who live in Haridwar, a city in northern Uttarakhand state, filed a petition this month seeking 50 million Indian rupees (about $643,000) in

By Laura He, CNN Business Shanghai posted zero car sales last month as China pressed ahead with its stringent pandemic control measures. The biggest metropolitan area in China, home to 25 million residents, has been under a strict lockdown for seven weeks. Authorities have ordered people to stay at home and shut down many businesses,

By Jeanne Sahadi, CNN Business California’s efforts to mandate board diversity have been dealt another blow. Late last week, a California judge in the Superior Court of Los Angeles ruled that the state’s 2018 law requiring public companies headquartered in California to have a minimum number of women on their board violates the state’s constitution.

By Allison Morrow and Chris Isidore, CNN Business JetBlue is going hostile in its effort to acquire Spirit, the latest twist in an industry battle for the low-cost carrier. Spirit previously rejected a takeover offer from JetBlue, favoring an earlier deal to merge with fellow budget airline Frontier. Now, JetBlue is appealing directly to Spirit’s

By Michelle Toh, CNN Business One of China’s top investment bankers says the country’s stock markets appear to be nearing “the bottom.” Chinese markets have been battered in recent months by the impact of Beijing’s “zero Covid” policy, a real estate slump, aggressive regulation and jitters about the country’s close ties with Russia. So far

By Mark Thompson, CNN Business Renault is selling its business in Russia, including a controlling stake in Lada, becoming the latest carmaker to exit the country over its assault on Ukraine. In a statement on Monday, the French company said it had agreed to sell Renault Russia to the city of Moscow and its stake

By Laura He, CNN Business China has reported disappointing economic data for the month of April, underscoring the extensive damage Covid lockdowns have wreaked on the country. The world’s second largest economy reported shocking drops in retail sales and factory production, widely missing market expectations. Retail sales plunged 11.1% in April from a year ago,

By Ramishah Maruf, CNN The GOP Senate primary in Pennsylvania reveals a lot about the state of the Republican Party — and how it uses the media. The seven candidates for the US Senate in the state have conducted at least 19 interviews across Fox and Newsmax so far this month, CNN’s chief media correspondent

Reuters Elon Musk on Saturday tweeted that Twitter’s legal team accused him of violating a nondisclosure agreement by revealing that the sample size for the social media platform’s checks on automated users was 100. “Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!” tweeted

Opinion by Adam Weinberg for CNN Business Perspectives High school students and their parents devote an extraordinary amount of time and energy to the college search process. But then an odd thing happens once a student is accepted. Families tend to exhale — “All done!” — and mostly put college out of their mind until

By Danielle Wiener-Bronner, CNN Business Pizza places have always been experts when it comes to delivery, flexing with remote drop-offs and robot delivery cars. But now they’re facing a problem: not enough drivers. In early March, Domino’s then-CEO Ritch Allison warned that a driver shortage would be a drag on business. “Delivery driver staffing may

By Brian Stelter and Sharif Paget, CNN A spokesperson for Twitch said the company removed a livestream by the Buffalo grocery store massacre suspect less than two minutes after the violence started. The suspected shooter, an 18-year-old White man, shot and killed 10 people and injured three others at a supermarket in a predominantly Black

By Paul R. La Monica, CNN Business Worries about an economic slowdown are running wild on Wall Street. Despite concerns about inflation, higher interest rates from the Federal Reserve, supply chain issues and geopolitical turmoil due to Russia’s invasion of Ukraine and Covid outbreaks in China, American consumers continue to do what they do best:

By Ramishah Maruf, CNN Amazon founder Jeff Bezos accused President Joe Biden of spreading “misdirection” on Twitter, after the president tweeted that wealthy corporations should be paying their fair share of taxes to bring down inflation. “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share,” Biden tweeted from