CNN – Business/Consumer

By Julia Horowitz, CNN Rivian said Monday it would no longer pursue a deal with Mercedes to build electric vans for businesses in Europe. In a statement, CEO RJ Scaringe said the company needed to be strategic about its investments. “At this point in time, we believe focusing on our consumer business, as well as

By Michelle Watson, CNN Dorothy Pitman Hughes, the co-founder of one of the most prominent feminist magazines, has died, according to a funeral home in Georgia and her longtime colleague and friend Gloria Steinem. Hughes, co-founder of Ms. Magazine, died at the age of 84 on December 1 in Tampa, Florida, according to Sconiers Funeral

By Chris Isidore, CNN The fact that a freight railroad strike didn’t start on Friday is a huge win for the US economy and its still struggling supply chain. But that doesn’t mean freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and

By Paul R. La Monica, CNN The Federal Reserve is all but guaranteed to announce Wednesday that it will once again raise interest rates. But investors are hopeful it will be a smaller increase than the last four hikes. Traders are betting on just a half-point increase. Federal funds futures on the Chicago Mercantile Exchange

By Rachel Ramirez, CNN If you’re looking to replace or upgrade your smartphone in the coming year, take a beat and think it over. Do you really need a new phone, or do you simply have the urge to get the new, shiny tech? There are some issues to consider besides the new device’s affordability.

By Vedika Sud, Rhea Mogul, Rishabh Pratap and Arpit Goel, CNN At the Bhalswa landfill in northwest Delhi, a steady flow of jeeps zigzag up the trash heap to dump more garbage on a pile now over 62 meters (203 feet) high. Fires caused by heat and methane gas sporadically break out — the Delhi

By Christine Romans It’s too soon to declare victory over inflation, but from gas to chicken to big-screen TVs, there are, increasingly, signs that inflation’s grip on American pocketbooks may be loosening. Gas prices are back to last year’s levels, after spiking to a record high of just over $5 a gallon this summer. For

By Oliver Darcy, CNN Barbara Starr, the Pentagon correspondent who has covered some of the most consequential stories with a signature style and steady hand, is leaving CNN after more than two decades with the network. Starr announced her departure in a memo sent to her CNN colleagues on Friday. “With the expiration of my

By Nicole Goodkind, CNN Brutally high oil and gas prices were the talk of the town in 2022 and one of the largest contributing factors to sky-high inflation. The thing is: When you reach the top, there’s nowhere to go but down. And that’s exactly where oil is going. The price of crude has taken

By Jordan Valinsky and Allison Morrow, CNN Sam Bankman-Fried, the founder of the failed crypto exchange FTX, has agreed to testify before the House Financial Services Committee next week as questions and confusion swirl about the collapse of his companies. On Friday, he tweeted that he’s “willing to testify on [December] 13th,” and said he

By Julia Horowitz, CNN Just two months after UK markets suffered their worst meltdown since the global financial crisis, the British government is promising a major relaxation of financial regulation in a bid to shore up the country’s banking and insurance industries against growing competition from cities such as Amsterdam and Paris. The UK Treasury

By Vanessa Yurkevich, CNN For the past 22 years, the Port of Los Angeles has been the busiest container port in North America, moving around 10 million cargo containers filled with goods for Americans and bringing in roughly half a billion dollars in revenue each year to the state of California. But for the past

By Matt Egan, CNN Despite high inflation and recession fears, the holiday shopping season appears to be off to a strong start. Black Friday and Cyber Monday sales were solid, as Americans were lured by deep discounts. Although consumer spending may be slowing, it remains surprisingly resilient. The problem, however, is that many Americans’ paychecks