CNN – Business/Consumer

By Laura He, CNN Business China is starting to sell off some of the oil it keeps in strategic reserve in a bid to lower prices in the market, a historic first for the world’s biggest importer of oil and its second largest consumer. The State Bureau of Grain and Material Reserves said late Thursday

By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “An Authoritarian.” “Rotting bag of oatmeal … tyrant.” “Very frail and very weak.” Those are only a handful of the vile attacks directed at President Biden on Fox News Thursday

By Alexis Benveniste, CNN Business JPMorgan Chase is buying the Infatuation, a restaurant discovery platform that shares reviews and recommendations on where to eat. The acquisition will include the Infatuation’s entire business, including Zagat, which the company purchased in March 2018. The bank didn’t disclose the price of the deal. The news was first reported

By Nathaniel Meyersohn, CNN Business Walmart will end its quarterly bonuses for US store workers in January after it raises its hourly minimum wage from $11 to $12, eliminating a longstanding perk for workers. Walmart, the largest private employer in the United States, has for decades paid the bonuses to its approximately 1.2 million hourly

By Matt Egan, CNN Business Federal Reserve Chairman Jerome Powell has been criticized by progressives for going soft on big banks and not doing enough to address the climate crisis. Now, a lifelong Republican is joining that critique. Sheila Bair, one of the few American regulators who sounded the alarm prior to the subprime mortgage

By Nathaniel Meyersohn, CNN Business Amazon is offering to cover four-year college tuition for most of its approximately 750,000 hourly workers in the United States, the latest major employer to offer the perk to attract and retain hourly employees in a tight job market. Starting in January, Amazon for the first time will pay for

By Jordan Valinsky and Diksha Madhok, CNN Business Ford is ending production in India and taking a hit of $2 billion as it retrenches from a market that has been almost impossible for American automakers to break into. In an announcement Thursday, the company said that roughly 4,000 employees will be laid off and manufacturing

By Hanna Ziady, CNN Business Cathie Wood, the CEO of Ark Invest, is reportedly slashing her exposure to China, and switching to stocks that are in Beijing’s good books. The Wall Street superstar revealed Thursday that her fund has significantly reduced its exposure to China amid sweeping regulatory changes that have made the investment environment

By Angela Dewan, International Climate Editor Australian Prime Minister Scott Morrison all but admitted Thursday that his country had asked UK negotiators to exclude particular climate commitments from a free trade deal agreed in principle in June. The UK government, which is chairing November’s COP26 international climate talks, as well as Australia’s have come under

By Charles Riley, CNN Business On Tuesday, the Reserve Bank of Australia ripped off the stimulus band-aid and confirmed that it would start to scale back its bond-buying program this month despite concerns about the impact of the Delta coronavirus variant on the economy. The European Central Bank followed suit on Thursday, saying that it

By Jordan Valinsky, CNN Business Taco Bell has a plan in place to recycle some of the 8 billion pounds of used sauce packets that go into US landfills every year. The fast food chain is rolling out a nationwide pilot program for customers to send used sauce packets back through the mail. The program,

By Jordan Valinsky, CNN Business Burger King’s menu is getting a big makeover and its customers might not even notice. That’s why Burger King is hiring celebrities to promote the changes. The burger chain announced Thursday that it’s banning 120 artificial ingredients from its food, ranging from the ketchup to buns, as part of its

Opinion by Mark Zandi for CNN Business Perspectives It has been a trying 18 months since the pandemic first struck, and it appears it will take another 18 months for the economy to be free and clear of the impact of Covid-19. When the vaccines for Covid-19 became widely available this spring, there was widespread

By Frank Pallotta, CNN Business “We Make Movies Better.” That’s the tagline of a new advertisement from AMC Theatres. The world’s biggest movie theater chain debuted a $25 million national ad campaign Wednesday that it hopes will bring audiences back to the movies. It’s an unusual move because movie theater chains typically don’t advertise outside