Money

By Alicia Wallace, CNN Business US consumer confidence fell in October to the lowest level since July as high borrowing costs and soaring inflation take their toll on household budgets. The consumer confidence index slumped to 102.5 from a revised 107.8 in September, according to data released Tuesday by the Conference Board. Economists were expecting

By Tara John, CNN N. R. Narayana Murthy, one of India’s richest people, had mixed feelings when he first heard about the man who would become his son-in-law. “I, too, was a little sad and jealous when you told us you had found your life partner,” he wrote to his daughter Akshata Murty in a

By Anna Bahney, CNN Business US home prices continued to gain ground in August, but the pace of growth slowed considerably as rising mortgage rates pushed more prospective buyers out of the market. Home prices rose 13% in August from the year before, a smaller jump than the 15.6% growth seen in July and 18.1%

By Ramishah Maruf, CNN Business In the last few weeks, retailers, social media platforms, celebrities and fashion and entertainment companies have peeled away from business alliances with rapper Ye. Ye, also known as Kanye West, has become a controversy magnet. In early October, Ye wore a “White Lives Matter” t-shirt and dressed several Black models

By Jordan Valinsky, CNN Business McDonald’s McRib is soon returning to its menus — and this could be the last time. The chain said the fan-favorite menu item is coming back on October 31 for a limited period. McDonald’s teased in a statement that “this could be your last chance to taste it” because the

By Chris Isidore, CNN Business General Motors says its supply chain issues are improving. That allowed the company to post better-than-expected earnings despite falling short of revenue forecasts. America’s largest automaker said that by the end of June, it had been able to clear out of inventory about 75% of the roughly 90,000 vehicles it

By Nicole Goodkind, CNN Business It’s safe to say that the global economy is in a pretty bad place right now: The vast majority of economists think we’re on the brink of recession. But US markets don’t seem to mind. Stocks closed out their best week since mid-June last Friday and continued that rally into

By Hanna Ziady, CNN Business Some of the top names on Wall Street think a US recession is now likely, if not inevitable. But they have bigger worries on their minds. JPMorgan Chase CEO Jamie Dimon said Tuesday he is more concerned about global geopolitics than he is about slowing economic growth in the United

By Laura He, CNN Business China’s yuan tumbled on Tuesday to its lowest level in nearly 15 years on Tuesday as investors fled Chinese assets amid fears about Xi Jinping’s dramatic move to tighten his grip on power in a major reshuffle of Communist Party leaders On the tightly controlled domestic market, the yuan dropped

By Jon Sarlin, CNN Business “I can say antisemitic s*** and Adidas cannot drop me,” Kanye West said during his now infamous tirade against Jews during the Drink Champs Podcast earlier this month. With a social media uproar focused on Adidas brewing, Ye’s theory is now being tested. Here’s the deal: The list of brands

By Anna Bahney, CNN Business After more than doubling this year, mortgage rates are expected to retreat in 2023, according to an updated forecast from the Mortgage Bankers Association. MBA’s economists also said they expect the US to enter into a recession in the first part of next year that will be driven by tighter