CNN – Business/Consumer

By Paul R. La Monica, CNN Business It’s been a year full of worries for investors, from geopolitical conflict to inflation to the pandemic, and it doesn’t look like the concerns will ease anytime soon. The combination of these major macroeconomic and geopolitical issues will make it difficult for stocks to climb out of their

By Nathaniel Meyersohn, CNN Business Could the biggest department store marriage in years be in the works? Hudson’s Bay Co., the Canadian department store and owner of Saks Fifth Avenue, is considering making a bid for Kohl’s, Axios reported Wednesday, citing sources. The report drove Kohl’s stock up around 15% during mid-day trading Wednesday. A

By Matt Egan, CNN Business The Covid era of free money has come to an end. After dropping interest rates to zero in March 2020 to revive the economy, the Federal Reserve has just shifted gears to go into inflation-fighting mode. Fed officials said Wednesday they are raising interest rates, beginning their first cycle of

By Rebekah Riess, CNN Business The U.S. Coast Guard is working on a plan to safely refloat a 1,095-foot container ship operated by Evergreen Marine Corp. that grounded in the Chesapeake Bay Sunday night. This comes nearly a year after the container ship Ever Given, also operated by Evergreen Marine, became grounded in the Suez

By Brian Stelter and Oliver Darcy, CNN Business Fox News correspondent Benjamin Hall, who was severely injured while reporting outside Kyiv on Monday, has been evacuated from the country, Fox said. “Ben is alert and in good spirits,” Fox News Media CEO Suzanne Scott said Wednesday in a memo to staffers. “He is being treated

By Matt Egan, CNN Business President Joe Biden is using his bully pulpit to call out the tendency for gasoline prices to go up like a rocket when oil spikes, but only drop like a feather when crude crashes. Biden fired off a tweet Wednesday morning highlighting the painfully slow decline in gasoline prices in

By Anneken Tappe, CNN Business The Federal Reserve will likely hike interest rates on Wednesday, marking the end of the ultra-low rate environment the pandemic ushered in two years ago. The market expects a quarter-percentage point to be added to the benchmark rate, lifting it above zero. It would be the first rate hike since

By Laura He, CNN Business Chinese stocks had their best day in years Wednesday as Beijing promised measures to “substantially” boost economic growth and keep financial markets stable. Hong Kong’s benchmark Hang Seng Index ended up 9.1%, the biggest one-day gain since October 2008. China’s Shanghai Composite also rallied 3.5%, the strongest gain for that

By Michelle Toh, CNN Business Li-Ning goods will be detained by US authorities after US Customs and Border Protection said an investigation indicated that the Chinese sportswear giant uses North Korean labor in its supply chain. Starting this week, the company’s merchandise will be detained at all US ports, the CBP announced Tuesday. “Such merchandise

By Phil Mattingly and Kaitlan Collins, CNN Sarah Bloom Raskin has withdrawn from consideration to be a nominee for the Federal Reserve Board of Governors. Raskin submitted her withdrawal in a letter to President Joe Biden. Biden nominated Raskin in January for the position of vice chair of supervision at the Fed, a role that