Bank of England sets biggest rate hike in 33 years and warns of a long recession
By Hanna Ziady and Julia Horowitz, CNN Business The Bank of England raised interest rates by three quarters of a percentage point on Thursday, the…
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Netflix launches ‘Basic with Ads’ — its much anticipated commercial-supported plan
By Frank Pallotta, CNN Business In 2019, Netflix said in a letter to shareholders “we… are advertising free,” and added that being…
Continue ReadingWhat to look for in the last jobs report before the midterms
By Allison Morrow, CNN Business When the Bureau of Labor Statistics releases its October jobs report on Friday, it will be the last major read of the…
Continue ReadingLes Moonves, CBS to pay $30 million in settlement with NY AG over sexual misconduct allegations
By Frank Pallotta, CNN Business Leslie Moonves, former chief executive officer of CBS, and CBS reached a $30.5 million settlement with the office of…
Continue ReadingWhat rising interest rates mean for you
By Jeanne Sahadi, CNN Business The Federal Reserve raised its benchmark interest rate for the sixth time in a row on Wednesday, to a range of 3.75%…
Continue ReadingGrocery prices are soaring. But this food favorite is getting cheaper
By Parija Kavilanz, CNN Business There’s at least one item in the grocery store that is getting less expensive: avocados. A significant supply…
Continue ReadingThanksgiving dinner will be a lot more expensive this year, report finds
By Danielle Wiener-Bronner, CNN Business Looks like Thanksgiving will be a lot pricier this year. Market research firm IRI predicts that your…
Continue ReadingFord October sales slide 10% largely due to supply chain issues
By Michael Ballaban, CNN Business Ford saw its October US sales slump 10% over the last year as the company continued to battle supply chain…
Continue ReadingShipping giant Maersk warns of ‘dark clouds on the horizon’
By Julia Horowitz, CNN Business The spike in shipping rates since the onset of the pandemic has been a huge boon for Maersk. But the Danish shipping…
Continue ReadingA decade of rising house prices is over. The UK economy will feel the pain
By Anna Cooban and Hanna Ziady, CNN Business For years, home ownership in Britain has been a one-way bet. Prices have climbed steadily since the…
Continue ReadingFrom Apple to Disney, China’s Covid curbs are again hurting business
By Diksha Madhok and CNN’s Beijing bureau It has been almost three years since Covid-19 first hit China, but the country’s relentless…
Continue ReadingThese baristas are leading a nationwide campaign to unionize Starbucks. It came at a cost
By Chris Isidore, CNN Business They came from very different backgrounds and different parts of the country, each with different reasons for seeking…
Continue ReadingWall Street’s recent love affair with the Fed could turn on a dime
By Nicole Goodkind, CNN Business Fed decision day is here — and so is some potential bad news for the market. That’s because investors have…
Continue ReadingThe Fed makes history with a fourth straight three-quarter-point rate hike
By Nicole Goodkind, CNN Business The Federal Reserve approved a fourth-straight rate hike of three-quarters of a percentage point on Wednesday as…
Continue ReadingThis is what Starbucks’ 25th anniversary holiday cups look like
By Jordan Valinsky, CNN Business This year marks the 25th anniversary of Starbucks’ holiday cups, an annual tradition that unofficially rings…
Continue Reading‘The worst is behind us’: Hong Kong hosts top global bankers for finance summit
By Michelle Toh, CNN Business Hong Kong leader John Lee sought to drum up confidence in the city’s future as a global financial hub on…
Continue ReadingSpotify is going to war with Apple after the App Store rejected its big new feature
By Oliver Darcy, CNN Business Spotify is looking to give Apple a good bruising in the press. The music streamer is taking its grievances with the…
Continue ReadingFormer Treasury Secretary Larry Summers urges Fed to keep hiking rates
By Nicole Goodkind, CNN Business Former US Treasury Secretary Larry Summers said on Tuesday that the growing chorus of economists and politicians…
Continue ReadingUnited pilots reject contract as airline negotiations ramp up
by Greg Wallace, CNN A shortage of airline pilots is leading pilots at America’s largest carriers to push for better pay and benefits. The…
Continue ReadingSelf-driving cars were supposed to take over the road. What happened?
By Matt McFarland, CNN Business For over a decade, companies from Google to General Motors have poured billions of dollars into the pursuit of what…
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