CNN-Business-Consumer

By Frank Pallotta, CNN Business Netflix recently told employees that the the company’s new lower-priced ad tier may come by the end of the year, according to a report from the New York Times Tuesday. The company is struggling as streaming competition heats up: Shares plunged last month after Netflix reported its first quarterly subscriber

Opinion by Evan Greer for CNN Business Perspectives It’s official: Elon Musk could soon become the king of Twitter. After agreeing to purchase his new crown for some $44 billion, Musk has promised big changes. In truth, no one really knows what Musk will do with Twitter if his bid succeeds. He could make it

By Jordan Valinsky, CNN Business Kelly Ripa, co-host of “Live With Kelly and Ryan,” revealed that she recently tested positive for Covid-19, forcing her to miss some upcoming shows. Ripa made the announcement on Instagram late Monday, writing that she was diagnosed with the illness this past weekend. “I am taking all necessary precautions and

By Matt Egan, CNN Business US Treasury Secretary Janet Yellen told lawmakers on Tuesday the Covid-19 pandemic and the war in Ukraine may continue to add turbulence to the world economy. “There is the potential for continued volatility and unevenness of global growth as countries continue to grapple with the pandemic,” Yellen said during a

By Beth Braverman It can be exciting to think about making a big purchase — like putting a down payment on a house, throwing your dream wedding reception, buying a new car or taking a bucket-list vacation. Less exciting: thinking about how to save up for it. But any major expense requires major planning. Taking

By Frank Pallotta, CNN Business The greatest quarterback in NFL history is going to try to become the greatest announcer in NFL history — once he finally retires, that is. Tom Brady, the seven-time Super Bowl champion for the New England Patriots and Tampa Bay Buccaneers, is heading to Fox Sports once his playing career

By Nicole Goodkind, CNN Business The age of meme-stock trading has largely come to an end, and the online trading platform that fueled the surge is scrambling to find alternative sources of revenue. Robinhood benefited greatly from meme investors piling into AMC, GameStop and other heavily shorted stocks last year. Ironically, Robinhood now thinks the

By Julia Horowitz, CNN Business As the recovery from the pandemic took off last year, everything investors touched turned to gold. The US stock market leaped 27%. Bitcoin rocketed to a record high. Commodities like oil and copper soared. Even alternative investments, from trading cards to wine, experienced a boom. Now, the glee of the

By Matt Egan, CNN Business US Chamber of Commerce CEO Suzanne Clark is pushing back against Senator Elizabeth Warren and others who blame high inflation on dominant corporations. “They’re just plain wrong,” Clark told CNN in a rare interview. “We’ve had decades of low inflation. There wasn’t some magic burst of consolidation in the last

By Jordan Valinsky, CNN Business Peloton’s turnaround plan can’t happen fast enough: The at-home fitness company continues to lose money — and it’s quickly running out of cash. The once-hot company reported a dismal quarterly financial report Tuesday, with sales tumbling 15% from a year ago. Peloton lost $757 million last quarter. Peloton said it

By Henry Klapper, CNN Two Russian reporters appeared to post at least 30 articles on Monday that criticized President Vladimir Putin’s invasion of Ukraine. CNN reviewed the articles, which were taken down almost immediately after they were published on a pro-Kremlin news site. Some were pegged to the 77th anniversary of the Soviet Union’s defeat

By Paul R. La Monica, CNN Business The stock market is a mess right now, but here’s some Wall Street wisdom for these tough times: Eat, drink and be merry. Emphasis on the merry if you’ve been buying food and beverage stocks. Stodgy consumer staples companies like food and drink makers tend to do well

By Anna Cooban, CNN Business Volkswagen Group, the leading global competitor to Tesla, has sold out of electric cars in the United States and Europe this year because of soaring demand and supply constraints. “We are not sold out because we can’t build cars … we are really sold out for electric cars because demand

Opinion by Jeff Tucker for CNN Business Perspectives After 14 straight months of year-over-year home price growth reaching into the double digits, we’re finally starting to see the early signs of a cooling housing market. Don’t worry. A crash isn’t coming. In fact, prices may not even fall. Rather, this will be a much-needed rebalancing

By Jeanne Sahadi, CNN Business A lot is changing fast in the world of crypto, including the tax rules. As with most investments there will be taxes to consider before figuring out how much you really made — or lost — on your digital assets. So if you couldn’t resist getting in on, say, bitcoin’s

By Paul R. La Monica, CNN Business So much for bitcoin being digital gold. The world’s most valuable cryptocurrency was down 10% Monday after plunging again over the weekend. Bitcoin prices have now plummeted nearly 20% in the past week. At a price of just below $31,000, bitcoin is more than 50% below its record

By Chris Isidore, CNN Business Rivian’s stock plunged 13% Monday as early investors jumped at their first opportunity to sell their shares — including, reportedly, Ford. The 180-day “lockup” period, which prevented insiders and early investors from selling their Rivian shares, expired Monday. CNBC reported on Saturday that Ford, which owns a 11.4% stake in

By Matt Egan, CNN Business Prices at the pump are once again flirting with record highs. That’s adding to inflationary headaches for families, the US economy and the White House. The national average for regular gasoline rose to $4.328 a gallon on Monday, according to AAA. That’s a fraction of a penny shy of the

By Nicole Goodkind, CNN Business US stocks fell sharply on Monday, pushing the S&P 500 below 4000 for the first time in over a year as traders anticipate a new load of bad news on inflation and earnings. The Dow fell about 654 points, nearly 2%. The S&P 500 dropped 3.2%, and the Nasdaq Composite

By Julia Horowitz, CNN Business Summer 2022 will be huge for travel, as people in the United States and Europe dig out their swimsuits and happily set off on long-postponed vacations. That’s the message from companies like Marriott, Airbnb, Booking Holdings and Trivago, which have been telling investors that after a difficult two years, business

By Laura He, CNN Business Groups representing Western businesses in China are urging Beijing to relax its approach to Covid, saying harsh lockdowns are damaging earnings and investment and forcing a growing number of companies to consider shifting operations out of the world’s second biggest economy. Over 50% of American businesses have either delayed or

By Amy Woodyatt, CNN Business The New York Times has removed the word “fetus” from its Wordle answers in a bid to keep the popular online game “distinct from the news.” In a statement on its website, the Times warned that some users playing the game Monday “may see an outdated answer that seems closely

By Chris Isidore, CNN Business Boeing is moving its headquarters from Chicago to a suburb of Washington, DC. But some analysts think this move is one in the wrong direction. Boeing was based in Seattle from its founding in 1916 to 2001. During its heyday it was renowned as an engineering-driven company that made the

By Laura He, CNN Business One of China’s top leaders has painted a grim picture of the job market in the world’s most populous nation, as widespread Covid lockdowns slam the brakes on the economy. Chinese Premier Li Keqiang — the No. 2 in the hierarchy of China’s ruling Communist Party — called the employment

By Ramishah Maruf, CNN Business The Justice Department indicted Mining Capital Coin CEO Luiz Capuci Jr. for “allegedly orchestrating a $62 million global investment fraud scheme,” the agency said Friday. Mining Capital Coin, or MCC, is a cryptocurrency mining and investment platform. Capuci, who is from Port St. Lucie, Florida, allegedly misled investors by selling

By Ramishah Maruf, CNN Kate Smith was a reporter for CBS News for several years, and her main beat was reproductive rights. Now she works for an organization that was one of her main sources. Last year, Smith left CBS to work as the senior director of news content for Planned Parenthood. On “Reliable Sources”

By Parija Kavilanz and Ramishah Maruf, CNN Business For months stores nationwide have been struggling to stock enough baby formula. Manufacturers say they’re producing at full capacity and making as much formula as they can, but it’s still not enough to meet current demand. The out-of-stock rate for baby formula hovered between 2% and 8%

By Frank Pallotta, CNN Business “Doctor Strange in the Multiverse of Madness,” the latest film in the Marvel Cinematic Universe, made an estimated $185 million domestically for its opening this weekend, according to Disney. That number hit the high end of expectations, which had the film making around $170 million to $185 million in North