CNN – Business/Consumer

By Michelle Toh, CNN Business Indonesia will start restricting exports of palm oil this week, a move that could make the global food crisis worse and push up the prices of hundreds of consumer products. President Joko Widodo announced Friday that Indonesia would suspend exports of cooking oil, and the raw materials used to make

Opinion by Levar Stoney and John Giles for CNN Business Perspectives Families across America are precariously perched on the edge of a hunger cliff. With inflation on the rise and supply chain backlogs, more families have been turning to food banks, forcing programs nationwide to ration supplies and cut services. And now the war in

By Julia Horowitz, CNN Business The world’s richest man wasn’t convinced he’d be successful in his bid to buy Twitter, one of the most influential social media companies on the planet. But Tesla CEO Elon Musk pulled it off. On Monday, Twitter announced that it had reached a deal to sell the company to Musk

By Laura He, CNN Business Chinese stocks slumped deeper into a bear market Tuesday and the yuan traded near a 17-month low as investors grow increasingly pessimistic about the impact of Covid-19 lockdowns on the world’s second biggest economy. The Chinese currency traded at 6.57 to the US dollar in offshore trade, after plunging to

By Ramishah Maruf, CNN Business The National Labor Relations Board petitioned in federal court to force Starbucks to rehire three workers who claimed the coffee chain retaliated against them for attempting to unionize. An Arizona-based regional director for the NLRB filed for an injunction asking the court to require Starbucks to reinstate the employees with

By Peter Valdes-Dapena, CNN Business General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next

By Paul R. La Monica, CNN Business With lots of worries out there — inflation, Covid, interest rates, Ukraine, stock volatility — consumers are willing to pay a premium when seeking comfort in the form of sweet treats like Coca-Cola. And investors are seeking a safe haven in the company’s stock. Coca-Cola reported first quarter

Opinion by Gad Levanon for CNN Business Perspectives With the fear of Covid-19 on the wane, consumers are spending much more on in-person services, like travel and entertainment, powering an impressive comeback in that sector. However, something has got to give. And that something is consumer spending on goods, like clothing, furniture, appliances and recreational