CNN – Business/Consumer

By CNN Staff Egypt has dug itself a massive hole of debt. On Friday, the International Monetary Fund (IMF) will extend a $3 billion loan to the country, a fourth aid package in six years, as its financial tailspin continues. The loan, along with billions of dollars in cash inflows from Abu Dhabi and Riyadh,

By Oliver Darcy, CNN Elon Musk is no free speech warrior. The thin-skinned new Twitter owner on Thursday banned the accounts of several high-profile journalists from the nation’s top news organizations, including: CNN’s Donie O’Sullivan; The New York Times’ Ryan Mac; and The Washington Post’s Drew Harwell. Progressive journalist Aaron Rupar and pundit Keith Olbermann

By Chris Isidore, CNN Business About 100 Starbucks stores across America will be on strike for the next three days, as the union attempts to turn up the pressure in it year-long battle with the coffee retailer. This is the second widespread strike by Starbucks Workers United, which staged a one-day strike in November on

By Nicole Goodkind, CNN Weaker-than-expected retail sales in November pummeled market sentiment on Thursday and raised the odds that the Federal Reserve’s inflation-fighting interest rate hikes would push the economy into recession. What’s happening: US retail sales, which measure the total amount of money that stores make from selling goods to customers, fell 0.6% in

By Laura He and Cheng Cheng, CNN James Cameron’s “Avatar: The Way of Water” has premiered in China, 13 years after the original film took the country by storm. It’s expected to be a shot in the arm for the world’s second-biggest film market, which has been battered by the country’s stringent zero-Covid policy. The

By Laura He, CNN US regulators have gained full access to the audits of Chinese companies for the first time, reducing the threat that tech giants such as Alibaba and JD.com could be kicked off US stock exchanges. The announcement marks a major breakthrough in a yearslong standoff over how Chinese companies listed on Wall

By Vanessa Yurkevich, CNN A typical morning at the Schnitzler household starts with David and Allison feeding their 17-month-old Winston. Allison, 33, and David, 32, play with Winston as they both get ready to go to work. Allison heads out the door — to her family medical practice — and David, an insurance underwriter, starts

By Jordan Valinsky, CNN Business Taco Bell is spinning up new varieties of its popular Mexican Pizza. The chain revealed that it’s testing two new types of the beloved menu item, which came back in May following a two-year absence because of pandemic-induced menu changes. For the unfamiliar, the Mexican Pizza consists of a flat,

By Anna Bahney, CNN Mortgage rates fell once again this week, dipping for the fifth straight week. The 30-year fixed-rate mortgage averaged 6.31% in the week ending December 15, down from 6.33% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.12%. Mortgage rates have risen throughout most of

By Oliver Darcy, CNN Business Staffers at The Washington Post are livid at publisher Fred Ryan. That’s according to conversations I had on Wednesday with nearly a dozen employees at The Post who expressed fury at the way Ryan announced in a town hall that the company would undergo layoffs in early 2023. Ryan said

By Paul R. La Monica, CNN Christmas is just 10 days away, and investors hoping for a Santa Claus rally have found little holiday cheer on Wall Street this month — especially Thursday. The Dow plummeted nearly 765 points, or 2.3%, Thursday, and it is down 4% in December following solid gains the previous two

By Alicia Wallace, CNN Black Friday may have been back in fashion this year, but the strong turnout at the start of the holiday shopping season last month wasn’t enough to counter a broader consumer pullback in spending. US retail sales fell sharply at the start of the holiday shopping season, dropping by 0.6% during