CNN – Business/Consumer

By Nathaniel Meyersohn, CNN Big retailers say consumer demand is starting to buckle from the strain of inflation and customers are making changes in how they shop. Target, Best Buy, Macy’s and other chains say shoppers have pulled back on discretionary goods like clothing, electronics and home improvement. They have shifted their spending to paying

By Allison Morrow, CNN Silvergate Capital, a dominant lender to cryptocurrency firms, is spiraling. The bank’s shares fell more than 55% Thursday after it told the Securities and Exchange Commission in a filing Wednesday night that it won’t be able to file its annual report on time and that it is evaluating its ability to

By Jordan Valinsky, CNN Business Elizabeth Holmes, the former CEO of Theranos convicted of defrauding investors, is seeking to delay the start of her 11-year prison sentence because she has “two very young children” to be with. The court filing last week represents the first public acknowledgment that Holmes gave has given birth to her

By Anna Bahney, CNN While more Americans own homes today than a decade ago and the rate is increasing across all races, the gap between Black homeownership rates and that of any other race or ethnic group is even larger now than in 2011, according to a new analysis by the National Association of Realtors.

By Rhea Mogul and Vedika Sud, CNN Foreign ministers from the world’s biggest economies convened in New Delhi Thursday in what was seen as a grand test for Indian diplomacy, which ultimately didn’t succeed in reaching a consensus because of Russia’s ongoing invasion of Ukraine. In the second high-level ministerial meeting under India’s Group of

By Danielle Wiener-Bronner, CNN Starbucks has displayed “egregious and widespread misconduct” in its dealings with employees involved in efforts to unionize Buffalo, New York, stores, a National Labor Relations Board judge said in an order Wednesday. As a result, the company must reinstate and make whole a number of workers who were let go from

By Chris Isidore, CNN Tesla’s next vehicle assembly plant will be in Mexico near Monterrey, CEO Elon Musk announced Wednesday. “We’re super excited about it,” Musk said during an investor day for the company. “We’ll continue to expand production at all of our existing factories. So this is not moving output to anywhere, from anywhere.

By Nathaniel Meyersohn, CNN Amazon, Uber and Lyft recently ended extra fuel surcharges as gas prices dropped late last year. But there’s a catch. Beginning last March, Uber riders were paying an extra $0.45 or $0.55 in fees per trip and an additional $0.35 or $0.45 for Uber Eats food delivery, depending on the location.

By Jeanne Sahadi, CNN A lot can change in two decades. Or… not. In 2022, US women on average earned about 82 cents for every dollar a man earned, according to a new Pew Research Center analysis of median hourly earnings of both full- and part-time workers. That’s a big leap from the 65 cents

By Oliver Darcy, CNN Business Former House Speaker Paul Ryan was grilled last week over his decision to remain on the board of directors of Fox News’ parent company after damning court documents showed that the right-wing network knowingly peddled election lies to its audience. In the interview, conducted by conservative commentator Charlie Sykes at

By Anna Bahney, CNN Applications for a mortgage fell for the third week in a row and now sit at a 28-year low for the second-straight week, according to data released Wednesday. With mortgage rates half a percentage point higher over the past month, home buyers are pulling back even as the spring home buying

By Gregory Wallace, Pete Muntean and Jordan Valinsky, CNN Phil Washington, the White House’s pick to lead the Federal Aviation Administration, is going to face tough questions in his confirmation hearing about his ability to lead an agency facing the challenges the agency faces. Among those challenges: a series of close-call plane accidents in the

By Chris Isidore, CNN Shares of upstart EV maker Rivian plunged more than 16% Wednesday after ithe company reported disappointing revenue and gave 2023 delivery guidance that fell short of Wall Street hopes. The company reported a loss excluding special items of $1.6 billion in the fourth quarter, up from $1.2 billion in the year-earlier

By Paul R. La Monica, CNN Novavax, which makes the Nuvaxovid vaccine used to treat Covid-19, posted huge sales gains for the past three years during the height of the pandemic. But the company is now facing serious financial challenges — and has even warned it may not be able to survive. The Gaithersburg, Maryland-based