CNN – Business/Consumer

By Nicole Goodkind, CNN Business Federal Reserve Chair Jerome Powell made investors very happy on Wednesday. US stocks popped after the central banker gave a speech strongly indicating that the Fed would ease the historically-high pace of interest rate rises at its next policy meeting in December. But investors who are expecting a full pivot

By Alicia Wallace, CNN Business Ahead of Friday’s closely watched jobs report, economists polled by Refinitiv say they are expecting job growth to have slowed in November, with just 200,000 positions added. But while the recent wave of layoffs hitting the tech sector has dominated news cycles and triggered concerns that a larger reckoning may

By Diksha Madhok, CNN Business Binance is expanding into new markets even as the crypto industry grapples with turmoil unleashed by the spectacular collapse of crypto exchange FTX. The world’s biggest cryptocurrency exchange has acquired Sakura Exchange BitCoin (SEBC), a crypto exchange registered in Japan, Binance said on its website Wednesday. The deal would allow

By Diksha Madhok, CNN Business The extensive Indian diaspora will help the South Asian country reach a special milestone this year. Asia’s third largest economy is on track to receive more than $100 billion in yearly remittances in 2022, according to a World Bank report published Wednesday. This will be the first time a country

By Allison Morrow, CNN Business Sam Bankman-Fried, the 30-year-old founder of the bankrupt crypto exchange FTX, said he “didn’t ever try to commit fraud on anyone,” while admitting he made mistakes as chief executive. “There are things I would do anything to do over again,” Bankman-Fried said in a virtual appearance at the New York

By Peter Valdes-Dapena, CNN Business Lordstown Motors, a startup company building electric pickups in a former General Motors factory, is ready to deliver its first production-model pickup trucks, the company said. The announcement comes about 18 months after the company had warned, in a regulatory filing, that it could go out of business and, shortly

By Alicia Wallace and Lucy Bayly, CNN Business The Federal Reserve could pull back on the pace of its aggressive rate hikes as soon as December, Fed Chairman Jerome Powell said Wednesday at an economic forum. “The time for moderating the pace of rate increases may come as soon as the December meeting,” he said

By Alicia Wallace, CNN Business The number of job openings in the United States dropped in October, but the labor market still remains historically tight despite the Federal Reserve’s efforts to cool demand and bring down inflation. There were 10.3 million available jobs last month, down from nearly 10.7 million in September, according to the

By Jordan Valinsky, CNN Business If your holiday wish list includes a Chick-fil-A sauce-themed blanket or a chicken nugget pillow, look no further. The chicken chain has launched its first-ever online store, and it’s filled with quirky merchandise that pays homage to cult-favorite items. Highlights include an “I Heart Waffle Fries” hoodie, a “Chicken for

By Nicole Goodkind, CNN Business American shoppers just keep on spending, lending vital support to the economy. The question is: How long will it last? What’s happening: Americans appear to be indulging in a healthy dose of retail therapy despite stubbornly high inflation and the possibility of a recession ahead. Preliminary Black Friday and Cyber

By Peter Valdes-Dapena, CNN Business The Lamborghini Huracán Sterrato, officially unveiled in Miami Wednesday will be the Italian automaker’s maker’s last purely gasoline-powered supercar. It will also be unlike any Lamborghini supercar before because it’s designed to go off-road. If Mad Max owned a Lamborghini, it would probably look a lot like the Sterrato, with