CNN – Business/Consumer

By Peter Valdes-Dapena, CNN Business General Motors is starting its own energy storage business using its Ultium battery packs to power homes and charge cars as well as to feed power back into the grid when needed. The new business unit, called GM Energy, will consist of Ultium Home, Ultium Commercial and Ultium Charge 360

By Mark Thompson, CNN Business For the second time in two days, the Bank of England has been forced to offer extra support to UK markets still reeling from the government’s announcement last month that it would slash taxes and increase borrowing. The central bank warned Tuesday that there was still a “material risk to

By Matt McFarland, CNN Business Drivers are putting too much trust in their vehicles’ driver-assist features, which may lead to dangerous situations, according to the Insurance Institute for Highway Safety (IIHS). The organization, which researches vehicle safety, released a study Tuesday finding that 53% of General Motors’ Super Cruise users, 42% of Tesla Autopilot users

By Chris Isidore and Vanessa Yurkevich, CNN Business A union of railroad track maintenance workers has rejected a tentative agreement with the nation’s freight carriers, renewing the threat that there could be a strike that shuts down this vital link in the nation’s already struggling supply chain. The vote, announced Monday by the Brotherhood of

By Nicole Goodkind, CNN Business September’s hotly anticipated jobs data ended up cooling markets on Friday. Stocks fell sharply as investors evaluated the report, which showed more jobs than expected were added to the US economy and indicated that more pain-inflicting interest rate hikes from the Federal Reserve lie ahead. But a breakdown of the

By Hanna Ziady, CNN Business UK Finance Minister Kwasi Kwarteng will try to avoid spooking investors a second time when he publishes details of plans to tackle ballooning government debt and kickstart economic growth on Halloween. Kwarteng announced the Oct. 31 date in a letter to the Treasury on Monday, pulling his midterm budget forward

By Julia Horowitz, CNN Business Former Federal Reserve Chair Ben Bernanke, Douglas Diamond and Philip Dybvig were awarded the Nobel Prize in economics on Monday for their work on banks and financial crises. The three US economists were recognized by the Royal Swedish Academy of Sciences for their work in the early 1980s, which the

By Diksha Madhok, CNN Business On a late August evening in New Delhi, journalists’ phones started buzzing with messages. Indian billionaire Gautam Adani’s conglomerate had just launched a hostile bid to take over an influential broadcaster in the capital. The infrastructure tycoon is known for making bold and expensive acquisitions in diverse fields. Yet, his

By Jim Bittermann, CNN The trial of two of France’s biggest companies began Monday over the crash of Air France flight 447 in 2009 that killed 228 passengers and crew. The national flag carrier and Toulouse-based Airbus have been charged with involuntary homicide for their part in the disaster over the Atlantic. Both companies were

By Julia Horowitz, CNN Business The Bank of England announced Monday that it would provide extra support to UK markets, beefing up its efforts to ensure financial stability after the government’s plan to slash taxes while boosting borrowing stoked panic. The central bank said that it was ready to buy up to £10 billion ($11

By Laura He, CNN Business Holiday spending during China’s Golden Week has plunged to its lowest level in seven years, as broad Covid curbs discouraged people from traveling or spending, while a darkening economic outlook continues to erode consumer confidence. Tourist spending for the week-long holiday that started on October 1 declined 26% to 287.2