CNN – Business/Consumer

By Bryan Mena, CNN Washington (CNN) — The Federal Reserve gave an important clue Wednesday that it will likely cut its benchmark lending rate in the coming months. The move would pave the way for lower borrowing costs for Americans on everything from mortgages and car loans to credit cards. While the central bank said

By Nathaniel Meyersohn, CNN New York (CNN) — Consumers have reached their breaking point with $6 iced coffees and lemonades at Starbucks. Starbucks sales dropped 3% globally at stores open for at least a year, including a 2% drop in its home North America market. And that masked how steep the decline was for Starbucks

By Hadas Gold, CNN New York (CNN) — Norah O’Donnell will step down as anchor and managing editor of CBS Evening News following the November election, the veteran journalist told colleagues Tuesday in a memo. O’Donnell, who has helmed the venerable evening news program for nearly five years, will transition to a new role as

By Chris Isidore, CNN New York (CNN) — Spirit Airlines, the ultra-low cost carrier known for charging bargain-hunting passengers for anything and everything, is introducing business class seating – of a sort. The airline said it will allow customers to pay extra for what it’s calling “Go Big” class of tickets, for those passengers in

By Krystal Hur, CNN New York (CNN) — Bill Ackman, billionaire hedge fund manager and chief executive of Pershing Square Capital Management, is seeking $2 billion to take the company’s investment fund public. That’s significantly less than what Ackman said he had hoped to raise for his new fund — a rare opportunity for the

By Hannah Rabinowitz and Evan Perez, CNN (CNN) — The Justice Department said Tuesday it filed a civil lawsuit against Norfolk Southern, alleging the company knowingly created large delays for Amtrak passengers traveling between New York and New Orleans. Though federal law requires Norfolk Southern freight trains to allow Amtrak passenger trains to proceed first, the Justice Department alleges

By Clare Duffy, CNN New York (CNN) — OpenAI stunned users when it demonstrated an updated voice mode for the most advanced version of ChatGPT earlier this year. Far from the kind of robotic voice that people have come to associate with digital assistants like Alexa or Siri, the ChatGPT advanced voice mode sounds remarkably

By Chris Isidore, CNN New York (CNN) — Tesla CEO Elon Musk says anyone who doubts how valuable robotaxis will make the company should test drive its latest self-driving car. A Wall Street analyst did just that – and said the car almost crashed. The experience of WIlliam Stein, an analyst with Truist Securities, is not

By Chris Isidore, CNN New York (CNN) — Delta Air Lines’ service meltdown, which led to thousands of cancelled flights and a half million stranded customers, cost the company hundreds of millions of dollars. And now it wants Microsoft and the cybersecurity firm that caused the problem to compensate it for at least some of

By Jeanne Sahadi, CNN New York (CNN) — The fees parents pay to make online deposits into their children’s school lunch accounts are under scrutiny at the Consumer Financial Protection Bureau, which found that some parents may pay up to 60 cents in fees for every dollar they deposit. And those fees can add up

By Alicia Wallace, CNN (CNN) — Job opportunities are slowly disappearing in the US, and hiring has screeched to its slowest pace in a decade (aside from the pandemic plunge). That’s making more workers hold tight to the job they’ve already got. The good news: Those jobs don’t appear to be nearing the chopping block.

By Hanna Ziady, CNN London (CNN) — Diageo, one of the world’s biggest drinks makers, has reported its first drop in sales since the pandemic, as cash-strapped consumers cut back on spending. The maker of Johnnie Walker whisky, Casamigos tequila and Guinness beer is the latest consumer business to report a hit to sales as

By Anna Cooban, CNN London (CNN) — Air New Zealand has ditched a key target to reduce its carbon emissions by 2030, citing delays in deliveries of new fuel-efficient aircraft and costly low-carbon jet fuels. The airline said in a statement on Tuesday that it had been hamstrung in recent months by “the availability of new

By Elisabeth Buchwald, CNN New York (CNN) — While inflation in the US has been cooling since hitting a four-decade high, the temperature outside continues to climb. It’s been one of the hottest summers on record for much of the country and the planet, which last week experienced the hottest day in recorded history. But

By Nathaniel Meyersohn, CNN New York (CNN) — Lululemon thought it had developed its next hit. But after its new leggings became the butt of endless jokes, the company will have to leave them behind. Lululemon pulled its newly-released $98 Breezethrough leggings line from its website and app after negative reviews and customer complaints about

By Matt Egan, CNN New York (CNN) — As vice president, Kamala Harris was a leading player in a remarkably progressive Biden administration that fought mergers, battled Big Tech and called out corporate greed. As the presumptive Democratic nominee for president, Harris finds herself in the middle of a tug-of-war as she crafts her own economic

By Clare Duffy, CNN New York (CNN) — Remember the universal childhood experience of writing a fan letter to someone you admire? (Mickey Mouse, I hope you still have that note I gave you at Disneyland in 1999.) Well, a new Google ad says artificial intelligence can now do that for you. It’s not going