By Laura He, CNN Business China’s economic growth forecasts have been downgraded further by major investment banks, as the country grapples with its worst heatwave in 60 years. The extreme weather comes at a time when the world’s second largest economy is already slowing because of strict Covid-19 lockdowns and a real estate crisis. The
Continue ReadingBy Rhea Mogul and Manveena Suri, CNN A judge in southern India has ruled a woman wore “provocative” clothing, effectively dismissing her sexual assault complaint, causing public outcry in the country, where violence against women and girls make frequent headlines. The district court judge in Kerala state made the comments last week while granting anticipatory
Continue ReadingCNN By Vanessa Yurkevich, CNN Business Nearly three quarters of US farmers say this year’s drought is hurting their harvest — with significant crop and income loss, according to a new survey by the American Farm Bureau Federation, a lobbying group that represents agricultural interests. This year’s drought conditions are taking a harder toll than
Continue ReadingBy Peter Valdes-Dapena, CNN Business Dodge, famous for offering cars with big and powerful V8 engines, is phasing out some of its iconic, gas-powered muscle cars in favor of electric power. To ease fans into this new era, the company has opted to mimic some muscle car sensations — including shifting gears and a loud
Continue ReadingBy Chris Isidore, CNN Business Strippers at the Star Garden Topless Dive Bar in North Hollywood, California, have filed with the National Labor Relations Board seeking to join the Actors Equity Association, a union of performers and other show business professionals. “We like what we do. We would like our jobs even more if we
Continue ReadingBy Laura Ly, CNN Walmart, CVS, and Walgreens must pay a combined $650.6 million to two Ohio counties for damages related to the opioid crisis, a federal judge ruled Wednesday. US District Judge Dan Aaron Polster ruled that over the next 15 years, approximately $306.2 million must be paid to Lake County and approximately $344.4
Continue ReadingCNN, CNN BUSINESS By Paul R. La Monica, CNN Business Dollar stores, as their name suggests, offer inexpensive products for bargain-hungry shoppers. But even Dollar General and Dollar Tree, which have thrived this year as rampant inflation has helped boost sales, are starting to feel the pinch of a slowing economy. Dollar General and Dollar
Continue ReadingBy Matt McFarland, CNN Business The newly signed Inflation Reduction Act will have big implications for electric vehicle buyers. Some popular electric vehicles may become eligible for a tax credit once again, while other cars that were eligible this month will not be for the foreseeable future. Here’s what you need to know as a
Continue ReadingBy Jeanne Sahadi, CNN Business It’s been a tough year for crypto investors as they’ve watched the price of their digital assets plummet. Bitcoin, for example, is trading about 65% off its all-time high, which it hit only nine months ago. If you bought a cryptocurrency when it was on the rise and sold your
Continue ReadingBy Matt Egan, CNN Business US natural gas prices have skyrocketed to levels unseen since 2008, a spike that threatens to offset the benefits of falling prices at the gas pump. Natural gas futures surged 7% on Tuesday to close at $9.33 per million British thermal unit (BTU), the highest closing price since August 1,
Continue ReadingBy Vanessa Yurkevich, CNN Business Nearly three quarters of US farmers say this year’s drought is hurting their harvest — with significant crop and income loss, according to a new survey by the American Farm Bureau Federation, a lobbying group that represents agricultural interests. This year’s drought conditions are taking a harder toll than last
Continue ReadingCNN, HLN By Jordan Valinsky, CNN Business The Girl Scouts are adding a new, raspberry-flavored cookie to the lineup. The Raspberry Rally, described in a release as a “sister” cookie to the iconic Thin Mints, replaces the mint filling with a raspberry-flavored one. It’s dipped in the “same delicious chocolaty coating” as its sibling. For
Continue ReadingBy Jordan Valinsky, CNN Business The Girl Scouts are adding a new, raspberry-flavored cookie to the lineup. The Raspberry Rally, described in a release as a “sister” cookie to the iconic Thin Mints, replaces the mint filling with a raspberry-flavored one. It’s dipped in the “same delicious chocolaty coating” as its sibling. For the first
Continue ReadingBy Jordan Valinsky, CNN Business With football season approaching, Buffalo Wild Wings is adding a new menu item that’s all but synonymous with the sport: pizza. For the first time, the sports bar chain is adding pizza to its menu -— with a unique spin. Buffalo Wild Wings pizzas, available beginning Wednesday for $9.99, feature
Continue ReadingMartha C. White for CNN Business With lower gas prices effectively putting more money back in their pockets, Americans continued to spend last month. But persistent inflation has reshaped their shopping habits. In July, US retail sales were flat compared to the previous month, the Census Bureau reported Wednesday. That marks a slowdown from June,
Continue ReadingBy Chris Isidore, CNN Business Target reported profit plunged 90% in the second quarter, falling far short of expectations, as inflation-weary customers pulled back on spending on nonessential items. Retailers, including Target, have been forced to cut prices on general merchandise, such as clothing, electronics and home goods, because of excess inventory of goods. Consumers
Continue ReadingBy Julia Horowitz, CNN Business Are Americans still reaching for their wallets, even as high inflation forces households to contend with higher bills? The fierce debate over whether the United States is in a recession could hinge on that question, sending economists and investors scrambling to unearth more data that provides clarity. One important set
Continue ReadingBy Nicole Goodkind, CNN Business A dollar just isn’t worth what it used to be. At the grocery store, you’re getting about 11 cents less than you did just a year ago. That dollar covers 15 cents less on utility bills and it’s worth six cents less on your rent and housing costs. That adds
Continue ReadingBy Laura He, CNN Business Chinese Premier Li Keqiang has urged China’s wealthiest provinces to “bravely take the lead” to bolster growth and employment, a day after official data painted a gloomy picture for the world’s second largest economy. Li — the No. 2 in the hierarchy of China’s ruling Communist Party — has been
Continue ReadingBy Diksha Madhok, CNN Business The richest man on earth has once again created chaos and commotion on the internet with his tweets. Tesla’s billionaire CEO Elon Musk tweeted late on Tuesday that he was buying Manchester United soccer club. “Also, I’m buying Manchester United ur welcome,” Musk told his 103 million followers on Twitter,
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