CNN – Business/Consumer

By Hanna Ziady, CNN Business British Airways has abandoned plans to launch a low-cost carrier at London’s second biggest airport, Gatwick, blaming pilots for its decision to scrap the new initiative. The reversal comes less than a month after British Airways unveiled plans for a short-haul subsidiary to compete with Ryanair and EasyJet in an

By Anneken Tappe, CNN Business Wall Street continued to rebound on Thursday, shrugging off both the Federal Reserve’s intention to soon roll back its massive monetary stimulus, another uptick in weekly jobless claims and worries overthe Evergrande debt crisis in China. All three major stock indexes closed sharply higher for the second straight day as

By Julia Horowitz, CNN Business All eyes are on China’s Evergrande, the heavily-indebted real estate conglomerate that’s become a market obsession after global investors tuned in to its mounting problems this week. What’s happening: The company faces a crucial test on Thursday, when it has a deadline to pay nearly $84 million worth of interest

By Jessie Yeung and Swati Gupta, CNN India’s Supreme Court has set a deadline for women to be admitted to the country’s elite defense academy for the first time next year, potentially opening the door for females to achieve high-ranking military positions in a field traditionally dominated by men. The court first ruled in August

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. What’s at stake? “Just about everything” This is one of those weeks when it feels like every single story is about Congress. Lawmakers are grappling with a government funding deadline,

By Laura He, CNN Business It’s crunch time for China’s heavily-indebted Evergrande Group. The sprawling Chinese real estate conglomerate faced a critical test on Thursday: could it meet its obligations to bondholders, or would it slip closer to the default it had warned might be coming? Evergrande was due to pay $83.5 million worth of

By Chris Isidore, CNN Business Boeing, the largest US exporter, announced plans Wednesday for its first foreign production plant to perform final assembly work. The plant, to be built in Toowoomba, Australia, will assemble military drones, not commercial jets, which is Boeing’s primary business. But it is an interesting step away from the United States

By Anna Bahney, CNN Business The housing market is beginning to look a little more normal. Home sales dropped in August, both from July and from a year ago, breaking two straight months of increases, according to the National Association of Realtors. Home purchases have been surging over the past year, which Lawrence Yun, chief

By Anneken Tappe, CNN Business The Federal Reserve isn’t ready to take its foot off the stimulus gas pedal just yet, but that soon might change. If the economic recovery continues to progress as expected, the Fed “judges that a moderation in the pace of asset purchases may soon be warranted,” according to the bank’s

By Hanna Ziady, CNN Business More than 50 airlines, oil companies and other companies, including Delta, BP and Boeing, pledged on Wednesday to replace 10% of global jet fuel supply with sustainable aviation fuel (SAF) by 2030. It is one of the boldest commitments yet to tackle the environmental impact of air travel and will

By Jordan Valinsky, CNN Business Senator Elizabeth Warren and three other Democratic lawmakers have sent an open letter to the executives behind popular SPACs, raising concerns about the potential for insiders to exploit regulatory gaps at the expense of everyday investors. “We seek information about your use of SPACs in order to understand what sort

By Chris Isidore, CNN Business Boeing is being called out by Ryanair, one of its major customers, for not selling its jets more cheaply. So far Boeing is standing fast and refusing to meet Ryanair’s price demand, despite the hit its sales have taken the last two years. On Tuesday Ryanair CEO Michael O’Leary called

By Pete Muntean and Chris Isidore, CNN Business With just five days until United Airlines will start putting unvaccinated US employees on leave, the company says 97% of workers have complied with its mandate. “United will start the separation process as early as September 28,” confirmed spokesperson Leslie Scott, who noted that only a “small

By Matt Egan, CNN Business A US default would be a “catastrophic blow” to America’s economic recovery from Covid-19, setting off a downturn that would rival the Great Recession, Moody’s Analytics warned in a new report. If the US defaults on its debt payments and the impasse drags on, the ensuing recession would wipe out