CNN – Business/Consumer

By Nathaniel Meyersohn, CNN Business You might not be excited about paying higher prices for meat and vegetables, but your grocery store is thrilled. The rising prices for staples like milk and pork affect grocery stores too, as they have to pay more to their suppliers. But while they are raising prices under the guise

By Paul R. La Monica, CNN Business Are the Wild West days of intense market volatility back on Wall Street? Stocks slid Friday after St. Louis Federal Reserve President James Bullard told CNBC he thinks the Fed should raise interest rates as soon as the end of next year. The Dow fell more than 530

By Danielle Wiener-Bronner, CNN Business It’s been a big year for America’s oat milk fans — and the companies serving them. In March, Starbucks rolled out the option only to sell out a month later. Silk added oat milk to its line of plant-based milks in April. Oatly had a splashy IPO in May. And

By Julia Horowitz, CNN Business Low inventory and surging demand have sent house prices soaring around the world, raising concerns about how long the red-hot market can be sustained. What’s happening: The International Monetary Fund’s Global House Price Index, which tracks 57 countries, has surpassed its prior peak from 2008. According to Oxford Economics, house

By Matt Egan, CNN Business Wall Street is wasting no time getting its employees back into the office — whether they want to be there or not. Morgan Stanley CEO James Gorman warned this week he’ll be “very disappointed” if workers aren’t back by Labor Day. And if they’re not? “Then we’ll have a different

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Take a wild guess: What percentage of all monthly TV consumption time is spent watching content on Netflix, the king of all the streamers Thirty percent? Twenty percent? The answer,

By Laura He, CNN Business A coronavirus outbreak in southern China has clogged ports critical to global trade, causing a shipping backlog that could take months to clear and lead to shortages during the year-end holiday shopping season. The chaos began unfolding last month when authorities in the southern Chinese province of Guangdong — home

By Allison Morrow, CNN Business Lordstown Motors, the struggling electric truck startup, said that it has no firm orders for its vehicles, backtracking on assurances it made earlier this week that the company had enough committed buyers for its pickup truck to keep production going through 2022. Lordstown, which is named after the former General

By Alexis Benveniste, CNN Business Bank of America is encouraging its vaccinated employees to return to the office after Labor Day in September, the company’s CEO Brian Moynihan said in a Bloomberg Television interview Thursday. After Labor Day, “our view is all the vaccinated teammates will be back,” Moynihan said. “We’ll be able to operate

The CDC continues to warn Americans about the Delta variant, first identified in India, labeling it “a variant of concern,” meaning it may be more easily spread. But, a new analysis shows states where vaccinations are up have Covid-19 cases that are down.

By Paul R. La Monica, CNN Business Intense bidding wars and supply shortages for lumber and other building materials threaten to finally derail the housing market. But one top homebuilder says the good times — for builders, anyway — aren’t over just yet. Lennar, a Miami-based builder, reported earnings and revenue after the closing bell

By Matt Egan, CNN Business New York Democrats want JPMorgan Chase to return the overdraft fees the bank collected during the pandemic — and to scrap the hated charges altogether. Despite the chaos set off by the pandemic, JPMorgan collected nearly $1.5 billion in overdraft fees last year, more than any other lender, according to

By Julia Horowitz, CNN Business The biggest US bank is ramping up its plans to expand in the United Kingdom. JPMorgan Chase announced Thursday that it’s buying Nutmeg, the UK digital wealth manager, for an undisclosed amount. It said the new acquisition will “complement” the digital bank that it’s planning to launch in the country

By Charles Riley and Maggie Fox, CNN Business Shares in CureVac plummeted on Thursday after the German biotech company said that interim trial results showed its experimental Covid-19 vaccine was only 47% effective in preventing symptomatic disease. The disappointing results sent shares down 45% in afternoon trading in Germany, wiping nearly $8 billion off the

By Paul R. La Monica, CNN Business The Federal Reserve surprised the market Wednesday with projections that future interest rate hikes will come a bit sooner than expected. Gold bugs in particular were disappointed. The price of gold fell 4% Wednesday and was lower again Thursday, falling below $1,800 an ounce for the first time

By Anneken Tappe, CNN Business Claims for unemployment benefits rose unexpectedly last week, marking the first increase in initial claims since late April. Another 412,000 workers filed for first-time benefits in the week ended June 12, adjusted for seasonal swings, the Labor Department said Thursday. Since the start of May, weekly claims had set new

By Julia Horowitz, CNN Business What Federal Reserve Chair Jerome Powell said in staid tones on Wednesday may not have sounded momentous. It was. What’s happening: The US central bank now expects to raise interest rates in 2023 as the post-pandemic economy booms and inflation rises. That’s sooner than it indicated in March, when the

By Chauncey Alcorn, CNN Business Major corporations are celebrating Juneteenth in unique ways this week. The annual June 19 tradition, which falls on Saturday this year, commemorates the day in 1865 when former American slaves in Galveston, Texas, were finally informed of President Abraham Lincoln’s January 1, 1863, Emancipation Proclamation and the end of the

By Eric Cheung, CNN Business Hong Kong police declared the Apple Daily newspaper office a crime scene Thursday, after 500 officers descended on the premises to arrest executives and top editors and seize journalistic materials under the city’s national security law. Apple Daily said Thursday that the company’s CEO Cheung Kim Hung, COO Chow Tat