CNN – Business/Consumer

CNN, CNN BUSINESS By Peter Valdes-Dapena, CNN Business The Pininfarina Battista is an astonishing car. Its base price, $2.2 million, is shocking, but so are its capabilities. With a maximum output of 1,900 horsepower from four electric motors, Automobili Pininfarina claims it can go from zero to 60 miles per hour in under two seconds.

CNN, CNN BUSINESS By Paul R. La Monica, CNN Business The Dow fell nearly 130 points, or 0.4% Monday, but it still ended October up 14% — its best monthly gain since January 1976. The blue chips remain off by almost 10% this year, though. Meanwhile, the S&P 500, which closed down 0.8% Monday, has

CNN By Nicole Goodkind, CNN Business The US economy grew by a 2.6% adjusted annual rate in the third-quarter, bouncing back from two negative quarters and beating analyst expectations. This ultra-resilient economy stands in the face of the Federal Reserve’s aggressive attempts to quell inflation by slowing growth through aggressive interest rates. But a quick

CNN By Oliver Darcy, CNN Business The New York Post said that a series of vulgar and racist tweets and headlines published Thursday morning were the result of a rogue employee. “The New York Post’s investigation indicates that the unauthorized conduct was committed by an employee, and the employee has been terminated,” the Post said

CNN, WFMJ By Nicole Goodkind, CNN Business Imminent recession is the topic du jour. From Goldman Sachs to the IMF, analysts and economists seem to agree that an economic downturn is coming for the United States in early 2023. That’s why it’s so surprising that the US economy is expected to show robust growth in

CNN By Anna Cooban, CNN Business A winter vacation package that claimed it could save Brits more than £200 ($229) on their soaring bills for rent, food and fuel sold out within 24 hours this week. EasyJet holidays, owned by low-cost British airline EasyJet, launched its 28-day “Escape the UK” vacation package to Hurghada, Egypt,

CNN By Rob McLean, CNN Business Athletic shoe company Skechers said in a statement Wednesday that two of its executives escorted embattled musician Kanye West from one of its Los Angeles buildings. The company said West, who has legally changed his name to Ye, “arrived unannounced and without invitation.” It said he was engaged in

CNN By Jon Sarlin, CNN Business “I can say antisemitic s*** and Adidas cannot drop me,” Kanye West said during his now infamous tirade against Jews during the Drink Champs Podcast earlier this month. With a social media uproar focused on Adidas brewing, Ye’s theory is now being tested. Here’s the deal: The list of

CNN, CNN BUSINESS By Frank Pallotta, CNN Business Sen. Ted Cruz’s “The View” interview was disrupted by protesters multiple times on Monday, including some demanding the Texas Republican talk about climate change. The protesters appeared to be shouting “Cover climate now!” as Cruz tried to answer a question from Sara Haines, one of the ABC

CNN By Julia Horowitz, CNN Business Britain’s third prime minister in seven weeks will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But their other task — shepherding the country through a recession — is poised to be just as daunting. Rishi Sunak emerged over the

CNN By Laura He, CNN Business China’s yuan tumbled on Tuesday to its lowest level in nearly 15 years on Tuesday as investors fled Chinese assets amid fears about Xi Jinping’s dramatic move to tighten his grip on power in a major reshuffle of Communist Party leaders On the tightly controlled domestic market, the yuan

CNN By Frank Pallotta, CNN Business Who says movie stars no longer matter in Hollywood? Theaters and box offices got a much-needed boost this weekend thanks to superhero flick “Black Adam” and romantic comedy “Ticket to Paradise” — two films led by big stars. Let’s start with the winner of the weekend: “Black Adam.” The

CNN By Paul R. La Monica, CNN Business The housing market is rapidly losing steam. Interest rates continue to rise. The stock market remains volatile. And inflation continues to be a major problem for people trying to pay their bills. Given all that, one might think the de-facto economic report card for the third quarter

CNN By Ramishah Maruf, CNN Business Fashion powerhouse Balenciaga has officially severed ties with Kanye West following a series of antisemitic posts and other controversial comments from the rapper, according to a report from Women’s Wear Daily citing a statement from Balenciaga’s parent company. “Balenciaga has no longer any relationship nor any plans for future

CNN By Danielle Wiener-Bronner, CNN Business Inflation is relentlessly high and food prices in particular are soaring. In this environment, customers are turning to McDonald’s — even as the burger chain raises its own prices. In the third quarter, McDonald’s US prices were up about 10% year-over-year on average. Even so, the brand is gaining

CNN, CNN BUSINESS By Paul R. La Monica, CNN Business The Federal Reserve is most likely going to raise interest rates by three quarters of a percentage point again on Wednesday, its fourth straight supersized hike. And it’s still possible another rate increase of that magnitude could come in December. But the big question for

CNN By Laura He, CNN Business Chinese stocks have hit multi-year lows in New York and Hong Kong amid growing concerns about China’s rising Covid cases and economic outlook. The plunge comes at a time when members of China’s ruling Communist Party are meeting for the 20th Party Congress, a major leadership reshuffle that sets

CNN By Paul R. La Monica, CNN Business October may be famous for historically horrifying stock market crashes like the ones in 1929, 1987 and 2008. But so far this month, there’s nothing for investors to be scared of on Wall Street. Stocks enjoyed another solid rally Monday, continuing a hot streak for the markets

CNN By Laura He and CNN’s Beijing Bureau, CNN Business China has abruptly delayed the publication of key economic data, one day before its scheduled release, as the ruling Communist Party gathers at a major political meeting against the backdrop of a faltering economy. The country’s National Bureau of Statistics updated its schedule on Monday,

CNN, CNN BUSINESS By David Goldman and Matt Egan, CNN Business A former executive at Donald Trump’s media company claims the former President retaliated against a board member who refused to give Melania Trump shares of the company, according to a report from The Washington Post. According to the Washington Post, Will Wilkerson filed in

CNN By Laura He, CNN Business Even though China’s economy is beset by problems ranging from a real estate crisis to youth unemployment, Xi Jinping did not offer any grand ideas to set the country back on track during his two-hour opening speech at the Communist Party Congress on Sunday. The Chinese leader is expected