CNN – Business/Consumer

By Chris Isidore, CNN OPEC and its allies’ surprise move to slash oil production will soon be felt at US gas pumps. The group known as OPEC+ announced Sunday it would cut oil production by more than 1.6 million barrels a day starting in May, running through the end of the year. The news sent

By Danielle Wiener-Bronner, CNN McDonald’s instructed corporate employees to work from home this week in anticipation of layoffs, according to a report from the Wall Street Journal. “During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,” the company said in an email to employees,

By Michelle Toh, CNN HSBC’s top brass defended their strategy Monday to frustrated shareholders in the lender’s largest market, as Europe’s biggest bank continued to face calls to be split up. At an informal shareholder meeting in Hong Kong, Chairman Mark Tucker and CEO Noel Quinn took questions from investors on issues ranging from how

By Nicole Goodkind, CNN Americans have grown used to corporate executives treading the well-worn paths of the Northeast corridor to convene alongside elected officials in Washington, DC, and discuss geopolitics, policy and all that’s in-between. In 2017, major CEOs from across the country came together to oppose North Carolina’s transgender bathroom law. In 2019, they

By Jordan Valinsky, CNN World Wrestling Entertainment is merging with Endeavor Group, the parent company of competitor UFC, to form a new publicly traded company. The deal values the newly combined company at over $21 billion: UFC is worth $12.1 billion and WWE is valued at $9.3 billion. Endeavor shareholders will own 51% of the

By Michelle Toh, Mohammed Tawfeeq and Anna Cooban, CNN Oil prices spiked Monday after OPEC+ producers unexpectedly announced that they would cut output. Brent crude, the global benchmark, jumped 5.31% to $84.13 a barrel, while WTI, the US benchmark, rose 5.48% to $79.83. Both were the sharpest price rises in almost a year. The oil

By Hanna Ziady, CNN Shares in Cineworld plunged more than 30% Monday, hitting their lowest level since late August, after the owner of Regal Cinemas said it planned to terminate efforts to sell its US, UK and Irish businesses. The world’s second-largest movie theater chain also announced a debt restructuring plan with lenders to help

By Ramishah Maruf, CNN Starbucks has fired a Buffalo, New York, worker who “ignited a movement” from one of the first stores in the coffee chain to unionize, Starbucks Workers United said Friday. The firing came the same week that former CEO Howard Schultz testified before Congress, where he was grilled by lawmakers for the

By Christopher Hickey and Alex Leeds Matthews, CNN It has almost never been as hard to buy a new or used car in the United States as it is today, despite improving supply issues and inflation beginning to steady. Vehicle transaction prices — the price you actually end up paying after any dealer discounts or

By Krystal Hur, CNN After a stormy 2022, US stocks gained during the first quarter of 2023 in a surprise show of resilience despite a banking crisis, cryptocurrency meltdowns and uncertainty about what’s ahead for the economy. What happened: Nothing about the first quarter’s performance was linear. The broad-based S&P 500 seesawed throughout the quarter,

By Rhea Mogul and Sania Farooqui, CNN For nearly a minute, the 4-year-old boy attempts to valiantly escape the hungry pack of stray dogs as they circle around him. The boy, who has not been publicly identified, is dragged by the pack for several feet. He strives to wrestle from their grip, but his small

Reuters General Motors plans to phase out widely used Apple CarPlay and Android Auto technologies that allow drivers to bypass a vehicle’s infotainment system, shifting instead to built-in infotainment systems developed with Google for future electric vehicles. Apple CarPlay and Android Auto systems allow users to mirror their smartphone screens in a vehicle’s dashboard display.

By Krystal Hur, CNN After a stormy 2022, US stocks gained during the first quarter of 2023 in a surprise show of resilience despite a banking crisis, cryptocurrency meltdowns and uncertainty about what’s ahead for the economy. Still, nothing about the first quarter’s performance was linear. The broad-based S&P 500 seesawed throughout the quarter, ending