CNN – Business/Consumer

By Anna Cooban and Hanna Ziady, CNN Business For years, home ownership in Britain has been a one-way bet. Prices have climbed steadily since the global financial crisis, rising in even larger increments after the pandemic began. Fueled by a post-lockdown buying frenzy, the average UK house price hit a record £275,000 ($315,474) in December,

By Chris Isidore, CNN Business They came from very different backgrounds and different parts of the country, each with different reasons for seeking a job at Starbucks. Few of these workers had given any thought to unions when they started their jobs at the coffee chain. But now they are at the center of one

By Diksha Madhok and CNN’s Beijing bureau It has been almost three years since Covid-19 first hit China, but the country’s relentless adherence to lockdowns continues to hobble business and the economy. Top global and Chinese companies, from carmakers to tech giants, have experienced huge disruptions to their business in recent days as the world’s

By Nicole Goodkind, CNN Business Fed decision day is here — and so is some potential bad news for the market. That’s because investors have gotten their hopes up again that the central bank will indicate it plans to ease up on hiking interest rates in its battle against rising prices. The problem is the

By Oliver Darcy, CNN Business Spotify is looking to give Apple a good bruising in the press. The music streamer is taking its grievances with the Silicon Valley goliath public, openly lashing out at the company over a dispute that centers on the 30% App Store fee Apple charges for in-app digital services transactions. “We

By Nicole Goodkind, CNN Business Former US Treasury Secretary Larry Summers said on Tuesday that the growing chorus of economists and politicians urging the Federal Reserve to pause its aggressive rate hikes in order to fight inflation are misguided. Those critics say that the Fed could throw the economy into recession, but Summers argued there’s

By Matt McFarland, CNN Business For over a decade, companies from Google to General Motors have poured billions of dollars into the pursuit of what was seen as the Holy Grail of driving technology: the fully self-driving car. Such vehicles would usher in an era of consumer safety and convenience, experts promised, and would be

By Matt Egan, CNN Business As the Federal Reserve kicks off another pivotal rate-setting meeting, lawmakers are reminding the central bank exactly just how high the stakes are. In a letter sent Monday to Fed Chair Jerome Powell, Democratic senators expressed concern about the Fed’s plan to continue raising interest rates at an “alarming pace”

By Paul R. La Monica, CNN Business Wall Street bulls may have come thundering back in October as bears appear to have gone into hibernation. But there’s another beast, albeit a mythical one, that has been pretty much absent from the stock market all year: Unicorns. There has been little demand for private companies to

By Alicia Wallace, CNN Business The number of available jobs in the United States increased in September, surprising economists who had expected the total to fall amid the Federal Reserve’s aggressive action to cool the economy. Job openings totaled 10.7 million, up from a revised 10.3 million in August, according to Bureau of Labor Statistics

By Jeanne Sahadi, CNN Business There are few places to keep your cash these days that can protect your money from inflation. And while you might have missed an opportunity to get a nearly 10% interest rate on ultra safe government I Bonds, you can still get a high rate that will keep pace with

By Matt Egan, CNN Business Economist Larry Summers is pushing back after President Joe Biden floated the possibility of punishing the oil industry for high prices by imposing a windfall profit tax. “I’m not sure [I] understand the argument for a windfall profits tax on energy companies,” Summers said on Twitter Tuesday morning. “If you

By Nicole Goodkind, CNN Business Despite a stock-market bounce in October that gave the Dow its biggest monthly gain in more than 45 years, economists are warning that there’s a very real danger of recession in the United States. Mortgage rates are at their highest levels since 2002, consumer spending and business investment is falling