CNN – Business/Consumer

By Michelle Toh, CNN Business Mastercard has been ordered to stop taking new customers in India, as authorities there say it violated the country’s rules on how data should be stored. Starting next Thursday, the company will be banned from issuing new debit, credit or prepaid cards, according to the Reserve Bank of India (RBI).

By Rob McLean, CNN Business Johnson & Johnson is issuing a voluntary recall for five Neutrogena and Aveeno sunscreen lines in the United States after it said it discovered low levels of benzene in the products. The company is warning customers against using aerosol sprays Neutrogena Beach Defense, Neutrogena Cool Dry Sport, Neutrogena Invisible Daily,

By Laura He, CNN Business China’s economy is still growing, but the pace of its recovery slowed in the second quarter as the country contended with surging commodity prices and supply chain disruptions. GDP grew 7.9% in the April-to-June quarter compared with the same period a year ago, China’s National Bureau of Statistics said Thursday.

By Allison Morrow, CNN Business Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. In today’s business news: A new report highlights the gap between CEO and worker pay; a $25 toy is now selling for $28,000; and RIP Twitter

By Rob McLean, CNN Business The National Highway Traffic Safety Administration is recommending owners of certain Chevy Bolt EVs park their cars outside and away from buildings due to a fire hazard. “The affected vehicles’ cell packs have the potential to smoke and ignite internally, which could spread to the rest of the vehicle and

By Chris Isidore, CNN Business The US airlines reported yet another round of quarterly losses. It could very well be their last, as vaccine rates climb and planes fill with leisure travelers eager to go on vacation once again. But airline stocks are all still down, and many analysts say this is a buying opportunity

By Parija Kavilanz, CNN Business Here’s one example of how pretty much everything is getting more expensive: A toy that used to cost $25 is now priced at $28,000. Premium Joy, based in Walnut, California, makes a variety of foam toys, including play mats, jigsaw puzzles and building blocks for kindergarten and elementary-grade kids. It

By Julia Horowitz, CNN Business The European Central Bank is moving ahead with efforts to create a digital version of the euro as the use of cash declines and China ramps up tests of its own e-yuan. The central bank announced a two-year investigation on Wednesday that will examine “key issues regarding design and distribution”

By Charles Riley, CNN Business The European Union has announced plans to end the sale of polluting vehicles by 2035, an ambitious goal that would put hybrid cars on the endangered species list and usher in a rapid and dramatic shift to fully electric models. The European Commission said Wednesday that it wants to require

By Moira Ritter, CNN Business The difference between CEO and median employee pay grew in 2020 despite the Covid pandemic and ongoing relief efforts. The average S&P 500 company CEO made 299 times the average worker’s salary last year, according to AFL-CIO’s annual Executive Paywatch report. Executives received $15.5 million in total compensation on average,

By Chauncey Alcorn, CNN Business Restaurant owners can add the rising cost of food to their growing list of challenges. Inflation is on the rise throughout the country, and independent restaurant leaders say many of their businesses will soon be forced to permanently shut down unless they receive more federal aid from Congress. “Every increase

By Chris Isidore, CNN Business US wholesale prices posted the biggest 12-month increase on record. That’s the bad news. But the US economy offered some rare good news on inflation Wednesday, too: Costs didn’t rise as much in June as they did in May, raising hopes that prices could be leveling off or even retreating

By Matt Egan, CNN Business America’s finance chiefs don’t think inflation will go away overnight. Chief financial officers, on average, expect higher-than-normal cost increases to persist for eight to 10 months, according to a Duke University survey released Wednesday. Some worry inflation will linger longer. About one in four CFOs expect elevated costs to last

By Julia Horowitz, CNN Business US prices continue to march higher, triggering concerns among economists, policymakers and business leaders about the sustainability of the post-pandemic recovery. What’s happening: The US Consumer Price Index, a key inflation gauge, jumped 0.9% in June, the largest one-month increase in 13 years. Over the past 12 months, prices were

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. “Make no mistake,” President Biden said Tuesday, “bullies and merchants of fear, peddlers of lies, are threatening the very foundation of our country.” Biden’s dire warning — part of his

By Allison Morrow, CNN Business Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Today in business news: Prices are surging; Wall Street banks are minting money; and Coke Zero has a new look and taste. Let’s get into it.