CNN – Business/Consumer

By Chris Isidore, CNN Business A 10-week strike by about 2,000 therapists and other mental health professionals in Northern California ended with a ratification vote announced Friday. The strike, by Kaiser Permanente workers, was one of a growing number of work stoppages nationwide that have been focused on issues other than wages and benefits. The

By Alicia Wallace, CNN Business The US budget deficit was slashed in half during fiscal year 2022, a record $1.4 trillion drop driven by the winding down of massive pandemic-related spending and a jump in revenues for the federal government as jobs and wages surged during the economic recovery. Final figures released Friday by the

By Anna Cooban, CNN Business The BBC has taken a swipe at outgoing UK Prime Minister Liz Truss — with a little help from Rihanna. After a six-week premiership riddled with crises, Truss resigned on Thursday, making her the shortest-serving prime minister in the United Kingdom’s history. Just hours after Truss announced her departure, the

By Oliver Darcy, CNN Business The right-wing channel Newsmax has banned Lara Logan from its air after she went on a QAnon-style rant during an appearance on the network this week. In a bizarre interview, Logan told host Eric Bolling that “the open border is Satan’s way of taking control of the world,” and later

By Nicole Goodkind, CNN Business Former US Treasury Secretary Larry Summers said on Thursday that it’s “substantially” more likely than not that the United States will enter a recession next year. Recession became “almost inevitable” once inflation rates grew above 5%, he said. On an annual basis, prices rose by 8.2% in September. But this

By Peter Valdes-Dapena, CNN Business BMW recently announced a $1.7 billion investment to help prepare its huge Spartanburg, South Carolina, factory to produce electric cars and SUVs. That sum included $700 million for the construction of a battery manufacturing plant nearby. Spartanburg is BMW’s largest factory anywhere in the world. It employs 11,000 people and

By Michael Ballaban Elon Musk made another one of his predictions. On Wednesday evening’s earnings call, the Tesla CEO claimed that his company, a maker of niche luxury cars, would someday be worth more than Apple and Saudi Aramco. Combined. Together, those companies are worth approximately $5 trillion. Tesla’s market value is $650 billion —

By Matt McFarland, CNN Business Tesla buyers may be able to take advantage of new federal tax credits for electric vehicles next year, the automaker’s executives said Wednesday. The credits can be as large as $7,500 for new vehicles and $4,000 for used vehicles. Tesla’s eligibility for the previous tax credits ended in Jan. 2020

By Alicia Wallace, CNN Business “Payday Friday” may soon be replaced by “Payday Wednesday.” This week, JPMorgan Chase, America’s largest bank, became the latest financial institution to offer customers early access to their direct deposits. Chase, the consumer and commercial banking arm of JPMorgan Chase, announced that its 1.4 million Secure Banking customers will automatically

By Paul R. La Monica, CNN Business Fads come and go in fashion. (Are skinny jeans no longer a thing?) The same is true of the stock market. Investors occasionally get too wrapped up in the latest big consumer or corporate trend, only to see companies get crushed when fickle tastes change — or even