CNN – Business/Consumer

By Anna Cooban, CNN Business Volkswagen thinks the worst of the global chip shortage is in its rear-view mirror. CEO Herbert Diess told CNN Business on Thursday that the world’s second largest automaker has “seen the worst” of a chip shortage that badly dented its third quarter earnings. “We had really a challenging quarter,” Diess

By Nathaniel Meyersohn, CNN Business It’ll be a very merry Christmas for America’s biggest retailers. Retail sales in November and December are expected grow between 8.5% and 10.5% this year compared with the 2020 holiday season, to a record of up to $859 billion, the National Retail Federation, a trade group for retailers, said Wednesday.

By Chris Isidore, CNN Business As with most automakers, Ford’s earnings took a hit from the supply chain problems and computer chip shortage. But its third quarter results were much better than Wall Street expected. The company also raised its outlook for future earnings and restored its dividend. Ford raised its full-year operating earnings guidance

By Jeanne Sahadi, CNN Business Cryptocurrencies are usually characterized by wild price swings and extreme volatility. But there is one cryptocurrency that is designed to be the exact opposite. Stablecoins, as the name suggests, are intended to be stable in price. That is, they are supposed to hold roughly the same value from the day

Anna Cooban for CNN Business Uber CEO Dara Khosrowshahi said he hopes drivers who rent Teslas through Hertz will eventually end up buying them. Hertz announced on Tuesday that it had placed an order for 100,000 Teslas as it tries to electrify its fleet. Through a partnership with Hertz, Uber plans to offer 50,000 of

By Nathaniel Meyersohn, CNN Business Costco this week raised its starting wage for hourly store workers in the United States for the second time this year as businesses hike pay to draw and retain workers amid a labor shortage. Costco told employees last week that it would increase its minimum wage from $16 an hour

Opinion by Jim Parrott and Mark Zandi for CNN Business Perspectives The nation faces a dramatic housing shortage, sending home prices and rents through the roof all over the country. The spike in housing costs is making it harder for some to buy their first home and for others to afford their rent, increasing demand

By Vanessa Yurkevich, CNN Business A John Deere worker who was walking to the picket line Wednesday in Milan, Illinois, was struck and killed by a car, according to the United Autoworkers Union. “It is a somber time to lose a member who made the ultimate sacrifice in reporting to picket for a better life

By Matt Egan, CNN Business Georgia Rep. Marjorie Taylor Greene bought as much as $50,000 worth of shares in a shell company that is merging with former President Donald Trump’s new media venture, according to a financial disclosure form. Greene, a Republican and Trump supporter with a history of conspiracy theories, bought shares of Digital

By Paul R. La Monica, CNN Business Only a week ago, Bitcoin hit an all-time high of nearly $67,000. But investors have been dumping the world’s most valuable cryptocurrency in favor of the new kid — or rather, new dog — in town: shiba inu. The price of one bitcoin fell more than 5% Wednesday

By Allison Morrow, CNN Business We all had to find our own ways to cope with the pandemic lockdowns last year. Some people bought Pelotons and baked bread. Others took a slightly less healthy route. Cigarette sales in America last year rose for the first time in two decades, a new report from the Federal

By Chris Isidore, CNN Business Housing prices are surging to new records with no end in sight. They’re being fueled by historically low interest rates — but also investors and economists’ belief that the housing market has a unique ability to support runaway prices. That’s the current state of America’s housing market, but it could