CNN-Business-Consumer

By Danielle Wiener-Bronner, CNN Business When McDonald’s opened its doors in Moscow for the first time, it was a big deal. It was the dead of winter — January 31, in 1990 — but still people came out in droves. Grainy CNN television footage shows lines snaking out the door, and throngs of people inside,

By Alicia Wallace, CNN Business Earth & Sky Floral Designs, located on the Laguna Pueblo reservation in New Mexico, is the only florist for miles. Owner Shayai Lucero says she often racks up the mileage on her Jeep and minivan making deliveries, the bulk of which are near her home but sometimes include a 150-mile

By Paul R. La Monica, CNN Business Amazon and Google owner Alphabet are two of the most dominant companies on Earth. Each is worth more than $1 trillion and is a leader in multiple industries. But neither stock is a member of Wall Street’s most exclusive club: the Dow Jones Industrial Average. That may soon

By Anna Bahney, CNN Business Mortgage rates are rising again amid fears of soaring inflation. The 30-year fixed-rate mortgage averaged 3.85% in the week ending March 10, up from 3.76% the week before, according to Freddie Mac. Inflation fears and geopolitical uncertainty are both having an impact, said Sam Khater, Freddie Mac’s chief economist. “Over

By Matt Egan, CNN Business Goldman Sachs is exiting Russia, becoming the first major Wall Street bank to announce plans to do so after the invasion of Ukraine. “Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements,” a Goldman Sachs spokesperson told CNN on Thursday. JPMorgan Chase, America’s

By Julia Horowitz, CNN Business Advocates of bitcoin have long claimed that the cryptocurrency has much in common with gold. They envision a world in which traders flock to it in times of stress and use it to store value over time. Now, Russia’s war in Ukraine, which has roiled markets, is testing that argument

By Donie O’Sullivan, CNN Business A new conspiracy theory has become popular among some of the online communities that formed around QAnon — one simultaneously being promoted by the Kremlin as a justification for its invasion of Ukraine. The false claim: the United States is developing bioweapons in Ukraine and Vladimir Putin has stepped in

By Frank Pallotta, CNN Business “Hello there.” That’s what Star Wars fans were saying about the first look at Disney+’s upcoming “Obi-Wan Kenobi,” which the company premiered Wednesday. Disney showcased the trailer for the platform’s new Star Wars series at its annual shareholders meeting. It immediately went viral online. Of course it did. Obi-Wan Kenobi

By Paul R. La Monica, CNN Business American and European businesses are rapidly distancing themselves from Russia in the wake of its invasion of Ukraine. You’d think that would be a problem for America’s top banks, which have deep ties to businesses across the globe, including Russia. But you’d be wrong. While investors are waiting

By Jordan Valinsky, CNN Business Charles Entenmann, who helped to turn his family’s bakery into a baked goods behemoth, died recently, according to published reports. He was 92. The name Entenmann is instantly recognizable to grocery shoppers around the country for its signature white and blue boxes filled with sugary confections such as cakes, muffins,

By Anna Bahney, CNN Business Homeowners saw massive increases in wealth over the past decade, but most of the gains went to the wealthiest US households. As home prices soared, housing wealth increased by $8.2 trillion over a decade, rising to $24.1 trillion in 2020 from $15.9 trillion in 2010, according to a new report

By Jeanne Sahadi, CNN Business Confusion. Amnesia. New paperwork. Delays getting through to the IRS. These are some of the top pandemic-induced frustrations marking this tax filing season, both for tax preparers and their clients. A recent survey by the National Association of Tax Professionals found that “only 4% [of tax preparers] think that taxpayers

By Frank Pallotta, CNN Business Disney’s CEO transition from Bob Iger to Bob Chapek marked a shift from an outspoken, famous CEO with political ambitions, to a largely unfamiliar name whose politics remain a mystery. This week, we got a glimpse at how Chapek’s Disney might respond to the world’s tumultuous political climate. On Monday,

Opinion by Mark Wolfe for CNN Business Perspectives Rising inflation is hitting all sectors of the economy. The overall rate of inflation on an annual basis reached 7.5% at the end of January, the highest level since 1982. Gas prices, in particular, are rising especially fast, reaching $4.25 a gallon on Wednesday, up from about

By Julia Horowitz, CNN Business Oil prices are pulling back and stocks are jumping higher as investors take a beat to consider what Russian President Vladimir Putin might do next. But the mood on Wall Street remains anxious, with traders hooked on headlines from Ukraine. “We’re still seeing these awful attacks, and we’re still seeing

By Charles Riley, CNN Business Russia has banned its citizens from buying US dollars, completing the isolation of an economy that once had ambitions to join the global club of financial powers. As recently as the 2008 global financial crisis, Russian President Vladimir Putin and his lieutenants had promoted the ruble as a potential alternative