CNN – Business/Consumer

By Matt Egan, CNN Despite high inflation and recession fears, the holiday shopping season appears to be off to a strong start. Black Friday and Cyber Monday sales were solid, as Americans were lured by deep discounts. Although consumer spending may be slowing, it remains surprisingly resilient. The problem, however, is that many Americans’ paychecks

By Swati Gupta, CNN India’s ruling Bharatiya Janata Party (BJP) scored a landslide election win in Prime Minister Narendra Modi’s home state of Gujarat on Thursday, in a boost for the leader and his Hindu-nationalist party ahead of the 2024 general election. The BJP took 156 of 182 total seats in the Gujarat state assembly

By Parija Kavilanz, CNN Bourbon brand Jim Beam is offering what could possibly be the weirdest gift for the holidays — hug-simulating pajamas. The unisex red flannel “Kentucky Hug” PJ set looks like your basic comfy plaid pajamas, with one exception. There’s a removable panel that fits around the neck and shoulders. When activated, it

By Chris Isidore, CNN Business Used car retailer Carvana, facing a cash crunch, could be headed towards bankruptcy, according to both published reports and a bearish analyst’s call that slashes its share-price target to $1. In mid-afternoon trading, Carvana, best known for its auto vending machine concept, stands at about $4.60 a share, up on

CNN, CNN BUSINESS By Matt Egan, CNN Treasury Secretary Janet Yellen is striking a cautiously optimistic tone about 2023, predicting a major inflation cooldown and stressing that a recession isn’t required to get prices back under control. “I believe by the end of next year you will see much lower inflation, if there’s not an

CNN By Allison Morrow, CNN Lawmakers are demanding that Sam Bankman-Fried, the founder of the failed crypto exchange FTX, appear before the Senate Banking Committee next week over “significant unanswered questions ” surrounding the collapse of his companies. In a letter to Bankman-Fried and his lawyer, the committee’s Democratic chairman, Sen. Sherrod Brown of Ohio,

By Nicole Goodkind, CNN Business US stocks surged higher on Thursday as investors staged a comeback from their current losing streak, spurred on by recession and interest rate hike fears. The Dow closed 184 points, or 0.6% higher. The S&P 500 gained 0.8%, while the Nasdaq Composite added 1.1%. Gains in semiconductor stocks such as

By Oliver Darcy, CNN News publishers are getting in on the TikTok trend. That’s according to a brand new survey published Wednesday evening by the Reuters Institute and University of Oxford. The survey found that, from a global standpoint, about half of the world’s top newsrooms are now regularly posting on the ByteDance-owned app. The

CNN By Oliver Darcy, CNN News publishers are getting in on the TikTok trend. That’s according to a brand new survey published Wednesday evening by the Reuters Institute and University of Oxford. The survey found that, from a global standpoint, about half of the world’s top newsrooms are now regularly posting on the ByteDance-owned app.

CNN By Alicia Wallace, CNN The US government recorded a monthly budget deficit of $249 billion in November, a 30% increase from a year earlier amid increased spending and falling revenue, the Treasury Department reported Monday. Federal budget outlays increased by $28 billion, or 6% in November, with agencies such as the Education Department reporting

By Jordan Valinsky, CNN Business Disney+ is getting more expensive, unless you want ads. As of Thursday, Disney’s ad-free tier costs $10.99 per month — an increase of $3. But for those that want to save a few dollars, Disney+ has a new tier with ads that costs $7.99 per month. The introduction of the