CNN-Business-Consumer

By Peter Valdes-Dapena, CNN Business With the GMC Hummer EV, General Motors designers and executives wanted to create a vehicle that would destroy stereotypes about electric vehicles and what they’re capable of doing. On that count, the GMC Hummer EV is a remarkable success. It is unlike any EV — or really, any vehicle with

By Julia Horowitz, CNN Business For years, billionaire investor Warren Buffett has been sitting on a mountain of cash. But with stocks at record highs, he struggled to find deals that caught his eye. Now, with many other investors in selling mode, he’s going shopping. What’s happening: Buffett’s Berkshire Hathaway just disclosed that it bought

By Oliver Darcy, CNN Business NBC News journalists are troubled by and have expressed dismay to network executives about MSNBC’s intention to hire White House press secretary Jen Psaki when she exits the Biden administration, people familiar with the matter told CNN. Noah Oppenheim, the NBC News president, even held an impromptu phone call Friday

By Anneken Tappe, CNN Business The Federal Reserve is ready to raise interest rates at a faster pace to get a handle on America’s pervasive inflation problem, according to minutes from the central bank’s March meeting released Wednesday. The minutes said “many participants” at the Fed’s meeting in March noted they would have preferred a

By David Goldman, CNN Business The West is tapping more of its emergency oil reserves to help wean itself off Russian crude. The International Energy Agency announced Wednesday it would supply the oil market with 60 million additional barrels of crude from its emergency stockpiles. The Paris-based IEA, which monitors energy supplies for the world’s

By Parija Kavilanz, CNN Business H&M is coming out with a new line of baby clothes that can be recycled in an unexpected way once they’re worn out — composting. The 12-piece organic cotton collection for newborns (priced from $4.99 to $17.99) launches in May and includes tops, bottoms with adjustable waistbands and cuffs, jackets,

By Paul R. La Monica, CNN Business It’s looking awful gloomy out there on Wall Street. Traders are making big bets against retailers as recession fears gain steam. Investors are growing more skeptical of energy stocks following the spike in oil prices, according to S&P Global Market Intelligence. And investors are souring on health care

By Nicole Goodkind, CNN Business The United States is on the brink of a retirement crisis. The primary savings tool for Americans — your 401(k) — isn’t helping. By the end of the decade, about 21% of the country’s population will be 65 or older, up from 15% in 2016, according to forecasts by the

By Anneken Tappe and Matt Egan, CNN Business US Treasury Secretary Janet Yellen warned Wednesday about the economic shock waves set off by the war in Ukraine, including disruptions to the global flow of food and energy. “Russia’s actions represent an unacceptable affront to the rules-based, global order, and will have enormous economic repercussions in

By Chris Isidore, CNN Business JetBlue Tuesday made an unsolicited $3.6 billion offer for low-fare rival Spirit Airlines in an attempt to derail a proposed deal between Spirit and Frontier Airlines. JetBlue’s cash offer is about 33% more than the value of Frontier’s stock-and-cash offer for Spirit. Such a transaction would stop a combined Frontier

By Matt McFarland, CNN Business Building a cheap car that is also profitable for the manufacturer is shockingly difficult. Because of the high cost of battery components, it becomes even more difficult if that car is electric. But Honda and General Motors, two of the biggest car companies in the world, believe they can crack

By Anneken Tappe, CNN Business America’s soaring inflation is inflicting pain on household budgets across the United States. But not everyone is affected in the same way. While economic data shows the general trend of prices, it doesn’t tell the story of individual groups, said Federal Reserve Governor Lael Brainard on Tuesday. “Today, inflation is

By Anna Cooban, CNN Business European leaders are planning to phase out Russian coal imports in response to harrowing scenes in Bucha, a suburb of Kyiv. On Tuesday, the European Commission proposed a ban on €4 billion ($4.3 billion) worth of Russian coal imports per year as part of a fifth package of sanctions designed

By Jordan Valinsky, CNN Business McDonald’s is bringing back Spicy Chicken McNuggets, but not everyone can buy them. The fast food chain said that the spicy nuggets are now available at about half of its US locations, or roughly 6,900 locations, for a limited time. McDonald’s regularly releases menu items on a regional basis to

By Oliver Darcy and Brian Stelter, CNN Business WarnerMedia chief executive Jason Kilar announced Tuesday that he will depart the company given that Discovery’s acquisition of the media conglomerate is almost complete. “With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be

By Paul R. La Monica, CNN Business How crazy rich is Elon Musk? The Tesla and SpaceX CEO’s net worth is now about a stratospheric $300 billion, according to Forbes’ real time rankings of the world’s wealthiest people. That means the 50-year-old Musk has a more than a $100 billion lead over second place Jeff