By Danielle Wiener-Bronner, CNN Business McDonald’s is hoping a drive-thru lane with a food conveyor belt, a pickup room for delivery workers and a shelf where people can grab their orders will make life easier for customers on the go. The features are being tested in a restaurant near Fort Worth, Texas, the burger chain
Continue Reading By Chris Isidore, CNN Business A key measure of consumer prices slowed somewhat in October, another hopeful sign that inflation pressures could be moderating. The Personal Consumption Expenditures price index, or PCE, rose 6% in October compared to a year earlier, the Commerce Department reported Thursday. That’s down from the upwardly revised 6.3% annual increase
Continue Reading By Danielle Wiener-Bronner, CNN Business ‘Tis the season to mix milk into your soda. According to Pepsi, anyway. Pepsi launched a campaign Thursday encouraging customers to try the combination and use the hashtag #PilkandCookies (as in Pepsi plus milk) to showcase their Santa-friendly concoctions. Those who participate in the online challenge running through Christmas Day
Continue Reading By Allison Morrow, CNN Business Sam Bankman-Fried, the founder of now-bankrupt FTX, has fallen from the peak of crypto celebrity, but he’s not going quietly. In back-to-back interviews, he’s portrayed himself as a clumsy and repentant businessman. “I think I got a little cocky — I mean, more than a little bit,” he told ABC’s
Continue Reading By Nathaniel Meyersohn, CNN Business Family Dollar has lost ground in the dollar store race for years. Now, the discount chain hopes lowering prices will help win back customers on tight budgets. Its main competition is the much larger Dollar General, which has grown rapidly over the past decade. The companies battle for many of
Continue Reading By Nathaniel Meyersohn, CNN Business Family Dollar has lost ground in the dollar store race for years. Now, the discount chain hopes lowering prices will help win back customers on tight budgets. Its main competition is the much larger Dollar General, which has grown rapidly over the past decade. The companies battle for many of
Continue Reading By Jeanne Sahadi, CNN Business No matter how smart or well educated you are, and no matter how successful professionally, when it comes to investing you still might not make the best decisions. That’s because you’re human, which means you’re hardwired to respond in certain ways that serve you well in many parts of your
Continue Reading By Tami Luhby, CNN As freight railroad workers look to Congress to provide them with paid sick days, millions of other American employees have no safety net if they fall ill. The US does not have a national standard on paid sick leave, a rarity among industrialized nations. Roughly 1 in 5 civilian workers lack
Continue Reading By Paul R. La Monica, CNN Business The meltdown of FTX has sent the price of bitcoin and other cryptocurrencies tumbling more than 60% this year…and the carnage has spread to publicly traded companies with exposure to digital assets. Shares of Coinbase, Square-owner Block, top bitcoin miners Hive and Riot, crypto bank Silvergate and software
Continue Reading By Matt Egan, CNN Prices at the pump continue to plunge, dropping the US average for gasoline below where it was when Russia invaded Ukraine. A gallon of regular gas now fetches $3.47 nationally, according to AAA. That is below the $3.54 average on February 24, the day Russia invaded Ukraine. That is down about
Continue Reading 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
Continue Reading 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
Continue Reading 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
Continue Reading 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
Continue Reading 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
Continue Reading By Chris Isidore, CNN Business A crippling freight railroad strike that threatened to upend the US economy now looks unlikely, as Congress votes on bills that would impose a contract on freight railroads and the unions that represent their workers. The House approved two pieces of legislation Wednesday, one to impose the tentative agreements that
Continue Reading 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
Continue Reading 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
Continue Reading By Oliver Darcy, CNN Business CNN on Wednesday informed employees that layoffs had commenced, a move that is expected to impact hundreds of staffers at the global news network and mark the deepest cuts to the organization in years. Chris Licht, who took over as chief executive of the network in May, described the cuts
Continue Reading 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
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