CNN – Business/Consumer

By Paul LeBlanc, CNN Former US Treasury Secretary Larry Summers said Thursday it’s “more likely than not” the US will enter a recession, calling it a consequence of the “excesses the economy has been through.” “Historical experience suggests that the kind of inflation we have rarely returns to normal levels — target levels of around

by Matt Egan, CNN Republican Sen. Chuck Grassley on Thursday called for punishing OPEC for its production cut by passing legislation that would hold foreign oil producers accountable for colluding to fix prices. Grassley, a longtime backer of so-called NOPEC legislation, announced in a statement obtained first by CNN that he plans to file his

By Frank Pallotta, CNN Business Netflix is going to the movies, but only for a week. “Glass Onion: A Knives Out Mystery,” the new whodunit starring Daniel Craig, will debut at the three major US theater chains — AMC, Regal and Cinemark — for a week one month before it streams on Netflix, the company

By Peter Valdes-Dapena, CNN Business Last June, Toyota warned owners of its first mainstream electric vehicle, the BZ4X, to stop driving their SUVs and have them transported to dealers because of a scary problem: the wheels could fall off after driving even just a few miles. Now, more than three months later, Toyota has announced

By Jordan Valinsky, CNN Business Tyson Foods is the latest company closing its Chicago-area offices, joining Boeing, Caterpillar and Citadel among others. The poultry producer said Wednesday that it’s bringing together its corporate employees at its global headquarters in Arkansas, resulting in the closure of three offices, including downtown Chicago, Downers Grove, Illinois, and Dakota

By Alicia Wallace, CNN Business When the Bureau of Labor Statistics releases its latest monthly jobs report on Friday, all eyes will be on whether the labor market is showing signs of loosening up — one of many crucial factors that will help the Federal Reserve determine its next steps in its fight against decades-high

By Jordan Valinsky, CNN Business Peloton is undergoing another round of layoffs — its fourth this year — with about 500 jobs being eliminated, as the troubled exercise company looks to cut costs to improve its bottom line. The company said in a statement that a “key aspect of Peloton’s transformation journey is optimizing efficiencies

By Nicole Goodkind, CNN Business Investors are tightening their neck braces as US stocks soar upwards, plummet back down and then do it all over. Stock market volatility is at its bumpiest level since July. The whiplash-inducing ride comes as conflicting data paints a cloudy picture about the state of the US economy. Investors have

By Chris Isidore and Matt Egan, CNN Business Even before Wednesday’s action by OPEC+ to cut oil production, US gas prices were on their way up. More price increases at the pump likely lay ahead. Gas prices rose nearly 3 cents a gallon in AAA’s daily reading Wednesday, to $3.83 a gallon, the biggest one-day