CNN – Business/Consumer

By Matt McFarland, CNN Business The National Highway Traffic Safety Administration released on Wednesday nine months of crash data from vehicles using driver-assist technologies like Tesla Autopilot as well as fully autonomous vehicles like Waymo’s robotaxis. NHTSA broke crash data into two categories based on the level of the autonomous systems: driver-assist systems — which

By Chris Isidore, CNN Business Ford is recalling 2.9 million vehicles that might not shift into the correct gear and could move in an unintended direction. The National Highway Safety Administration says it has six reports of property damage and four reports of injuries potentially related to the problem. Among the problems, the transmission on

By Anna Cooban, CNN Business Bitcoin continues to tumble this week to trade just above $20,000 on Wednesday as the cryptocurrency sell-off shows little sign of abating. The world’s most valuable cryptocurrency has fallen about 15% since Monday, and by nearly a third since Friday, according to data from crypto exchange Coinbase. The coin has

CNN, POOL By Matt Egan, CNN Business The Federal Reserve is stepping up its war on inflation. That means borrowing costs are going sharply higher for families and businesses. The US central bank increased its benchmark interest rate by three-quarters of a percentage point on Wednesday, which is the biggest single hike since 1994. This

By Diksha Madhok, CNN Business Indian billionaire Mukesh Ambani has now added a massive cricket deal to his empire. A venture backed by Ambani has won the digital rights to air the Indian Premier League (IPL), one of the world’s most valuable sports properties. Viacom18 — a joint venture between Paramount and Ambani’s Reliance Industries

CNN By Clare Sebastian and Julia Horowitz, CNN Business The European Central Bank has tried to calm fears of a debt crisis by promising “flexibility” in managing its huge balance sheet and accelerating work on new ways to reduce stress on heavily indebted countries like Italy and Greece as interest rates rise. At its regular

By Laura He, CNN Business China’s economy showed some signs of improvement in May, but retail sales contracted for a third month in a row, indicating that Covid outbreaks continued to significantly depress consumer spending. Retail sales fell 6.7% in May from a year ago, according to China’s National Bureau of Statistics on Wednesday. That

By Clare Sebastian and Julia Horowitz, CNN Business The European Central Bank has tried to calm fears of a debt crisis by promising “flexibility” in managing its huge balance sheet and accelerating work on new ways to reduce stress on heavily indebted countries like Italy and Greece as interest rates rise. At its regular meeting

By Simone McCarthy, CNN A Chinese national employed by Bloomberg News was released on bail earlier this year following more than a year in detention, according to Chinese authorities. Haze Fan, a member of Bloomberg’s bureau in Beijing, was last seen being escorted from her building in Beijing by “plain clothes security officials” in December

By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Joe Kahn took over as executive editor of The New York Times on Tuesday, officially ascending to one of the most powerful positions in American journalism. It was the day,

CNN By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Joe Kahn took over as executive editor of The New York Times on Tuesday, officially ascending to one of the most powerful positions in American journalism. It was the

By Matt Egan, CNN Democratic Sen. Ron Wyden is drawing up a surtax on Big Oil that would seek to rein in the industry’s skyrocketing profits at a time when gasoline prices are at record highs. Wyden, an Oregon Democrat who chairs the Senate Finance Committee, is floating a 21% surtax on the excess profits

By Andy Rose, CNN Industrial conglomerate Caterpillar, Inc. is moving its global headquarters from suburban Chicago to suburban Dallas, the company announced Tuesday. The move from Deerfield, Illinois, to its existing office space in Irving, Texas, will begin later this year, Caterpillar said. “We believe it’s in the best strategic interest of the company to

By Peter Valdes-Dapena, CNN Business Volkswagen has been saying for years that it intends to, one day, sell more electric cars than Tesla. That could finally happen in 2024, according to a new report from Bloomberg Intelligence. Over the next few years, these two automakers will battle to be the leader in global electric vehicle

By Jeanne Sahadi, CNN Business The market rout has been painful for investors. But the sting may be especially sharp for anyone who has recently retired or is planning to in the next year or two. It’s worth remembering that bear markets are not unusual or permanent. Since 1928 there have been roughly one or

By David Goldman, CNN Business The stock market won’t be satisfied unless the Federal Reserve takes drastic action on inflation. Investors now overwhelmingly predict the Fed will raise rates by a remarkable three-quarters of a percentage point at the conclusion of its policy meeting Wednesday. That hasn’t happened since 1994, when Alan Greenspan ran the

By Allison Morrow, CNN Business Bears. Bulls. Two big, scary mammals that serve as Wall Street shorthand for the stock market’s general mood. Bear = pretty much everyone’s selling. Bull = pretty much everyone’s buying. This week, US stocks fell into a “bear” market, dropping more than 20% from their most recent peak in early

CNN, CNNBUSINESS By Chris Isidore, CNN Business A key inflation reading showed a glimmer of hope on Tuesday, revealing a slight slowdown in rising prices — though they remain uncomfortably high. The Producer Price Index, which measures wholesale prices before goods and services reach consumers, rose 10.8% in May compared to where it stood a