CNN – Business/Consumer

By Nicole Goodkind, CNN Wall Street just received a big lump of Christmas coal. A surprise announcement from the Bank of Japan sent investors spinning and global markets reeling on Tuesday. The country’s central bank signaled that it would reverse two decades of policy precedent and begin to move away from loose monetary policy intended

By Laura He, CNN Xiaomi, one of the world’s largest smartphone makers, has begun layoffs in China at a time when the world’s second largest economy is grappling with an enormous unemployment crisis. The Chinese company’s decision to slash jobs comes soon after tech giants across the world, including Meta and Twitter, have laid off

By Laura He, Jennie Chen and Eric Cheung, CNN An unprecedented wave of Covid infections in China has triggered widespread drug shortages, as people scramble to buy fever medicines and painkillers to alleviate flu-like symptoms. The panic buying has spread outside mainland China’s borders, with the generic versions of Tylenol and Advil sold out at

By Diksha Madhok A photo gallery by Argentine footballer Lionel Messi has become the most-liked Instagram post ever. The images, which show Messi and other Argentina players celebrating their 2022 World Cup win, have racked up over 67 million likes on the social media platform within hours of being posted. Mark Zuckerberg, CEO of Meta,

By Nathaniel Meyersohn, CNN Nike’s stock jumped around 11% after the company beat analyst forecasts during its latest quarter. The company’s sales jumped 17% from the same quarter a year prior. Its profit increased 10%, the company said Tuesday. “Consumer demand for Nike’s portfolio of brands continues to drive strong business momentum,” Nike finance chief

By Anna Bahney, CNN Business Home building pulled back in November, as buyers faced spiking mortgage rates topping 7% that make homes increasingly unaffordable. Rates fell slightly through the month, but are still double what they were a year ago, continuing to put pressure on new home purchases. November housing starts, a measure of new

By Jordan Valinsky, CNN Business 3M, the conglomerate behind Post-It notes and Scotch tape, will stop making controversial per- and polyfluoroalkyl substances (PFAS) by the end of 2025. The chemicals, commonly known as “forever chemicals,” are found in hundreds of household items and used to make coatings and products that can repel water, grease, heat

By Nicole Goodkind, CNN It’s been a rollercoaster year for stocks. The S&P 500 is down more than 20% year-to-date and 2022 is likely to end up as the sixth-most volatile year since the Great Depression. But not all traders are on the same ride — the large, institutional investors on Wall Street have shuffled

By Lauren Kent, CNN Business The first images of banknotes featuring Britain’s King Charles III were unveiled on Tuesday by the Bank of England. Charles’ portrait will appear on English notes of £5, £10, £20 and £50. Meanwhile, the rest of the design will remain the same as the current notes that feature the late

By Rob McLean, CNN British Airways flights from the United States were delayed Monday night due to technical difficulties. “Our flights due to depart the USA tonight are currently delayed due to a technical issue with our third-party flight planning supplier, which we are urgently investigating,” the airline said in a statement. It is unclear