CNN – Business/Consumer

By Matt McFarland, CNN Business Hertz and BP plan to build a network of thousands of electric vehicle chargers in North America, the companies said Tuesday. Over the past year, the rental car behemoth has announced its intention to purchase hundreds of thousands of electric vehicles from various automakers. It has said that it aims

By Frank Pallotta, CNN Business It looks like “Don’t Worry Darling” didn’t have that much to worry about. The Warner Bros. film starring Florence Pugh generated a lot of off-screen drama due to a pretty wild press tour and behind the scenes gossip, but that didn’t seem to hurt its box office totals. The psychological

CNN By Frank Pallotta, CNN Business It looks like “Don’t Worry Darling” didn’t have that much to worry about. The Warner Bros. film starring Florence Pugh generated a lot of off-screen drama due to a pretty wild press tour and behind the scenes gossip, but that didn’t seem to hurt its box office totals. The

CNN By Anna Cooban, CNN Business Millions of mortgage borrowers in the United Kingdom are bracing themselves for huge hikes to their monthly payments as a consequence of the run on the pound. Markets have been in turmoil since UK finance minister Kwasi Kwarteng announced the biggest tax cuts in 50 years on Friday, together

By Anna Cooban, CNN Business Millions of mortgage borrowers in the United Kingdom are bracing themselves for huge hikes to their monthly payments as a consequence of the run on the pound. Markets have been in turmoil since UK finance minister Kwasi Kwarteng announced the biggest tax cuts in 50 years on Friday, together with

CNN By Anna Bahney, CNN Business Mortgage rates surged for the sixth week in a row, moving closer to 7%. The 30-year fixed-rate mortgage averaged 6.70% in the week ending September 29, up from 6.29% the week before, according to Freddie Mac. That’s the highest level since July 2007. Mortgage rates have more than doubled

By Anna Bahney, CNN Business New home sales bounced back in August despite high prices and rising mortgage rates that have pushed some buyers away. Sales of newly constructed homes jumped 28.8% in August from July and were down just 0.1% from a year ago, according to a joint report from the US Department of

Martha C. White for CNN Business Consumer confidence rose for a second straight month in September, as moderating gas prices and the hope that inflationary pressures might be easing helped lift the nation’s collective mood. The Conference Board reported on Tuesday that its baseline index rose to 108 from a revised 103.6 in August, the

By Nicole Goodkind, CNN Business So much for turnaround Tuesday on Wall Street. Stocks finished a volatile day mixed after rallying at the open. The Dow and S&P 500 are at their lowest levels since November 2020 and are both on a six-day losing streak. The Dow, which slid deeper into a bear market, fell

By Anna Bahney, CNN Business US home prices continued to climb in July. But the market showed signs of cooling as rising mortgage rates pushed more prospective buyers to the sidelines. Home prices rose 15.8% in July from the year before, a smaller jump than the 18.1% growth seen in June, according to the S&P

By Jordan Valinsky, CNN Business The Hamburglar is back at McDonald’s. But this time, it’s just for adults. McDonald’s is bringing back its family of recognizable figurines in a new adult Happy Meal, which, yes, includes the toys. Beginning October 3, customers can order a Cactus Plant Flea Market Box — a Big Mac or

By Nicole Goodkind, CNN Business The British pound hit a record low against the dollar on Monday after UK Prime Minister Liz Truss, a fan of “trickle-down economics,” announced a sweeping spending and tax cut plan to rescue the British economy from recession on Friday. What’s happening: Investors were taken aback by the new government’s

By Diksha Madhok, CNN Business Indian billionaire Gautam Adani says that China “will feel increasingly isolated” and the “foremost champion of globalization” would find it hard to bounce back from a period of economic weakness. Speaking at a conference in Singapore on Tuesday, Adani said “increasing nationalism, supply chain risk mitigation, and technology restrictions,” as

By Matt Egan, CNN There is growing evidence that Americans are struggling to keep up with crushing inflation. Nearly three in four (71%) employees say the cost of living is outpacing their salary and wages, according to a Bank of America-sponsored survey shared first with CNN on Tuesday. That’s up from 58% in February. The

By Max Foster and Sharon Braithwaite, CNN Coins and banknotes featuring King Charles III and Queen Elizabeth II will co-circulate, according to the Royal Mint, the official maker of UK coins. “The first coins bearing the effigy of His Majesty King Charles III will enter circulation in line with demand from banks and post offices.

CNN By Ramishah Maruf, CNN Walmart has entered the metaverse. The retail giant announced Monday it is launching two immersive online experiences with Roblox, a metaverse mega-platform extremely popular with young kids. Walmart said it is targeting the next generation of customers — Covid-19 altered consumers’ shopping habits and caused a surge in e-commerce sales.

CNN, CNNBUSINESS, WSVN By Vanessa Yurkevich, CNN For the past two years Jan Gautam has been filling in sporadically as a housekeeper at hotels in Orlando, Florida, run by Interessant Hotels & Resort Management, or IHRMC. When he’s not making beds, he’s busy running the company. He’s the President and CEO of IHRMC — which