Money

By Matt McFarland, CNN Business The newly signed Inflation Reduction Act will have big implications for electric vehicle buyers. Some popular electric vehicles may become eligible for a tax credit once again, while other cars that were eligible this month will not be for the foreseeable future. Here’s what you need to know as a

By Jeanne Sahadi, CNN Business It’s been a tough year for crypto investors as they’ve watched the price of their digital assets plummet. Bitcoin, for example, is trading about 65% off its all-time high, which it hit only nine months ago. If you bought a cryptocurrency when it was on the rise and sold your

By Matt Egan, CNN Business US natural gas prices have skyrocketed to levels unseen since 2008, a spike that threatens to offset the benefits of falling prices at the gas pump. Natural gas futures surged 7% on Tuesday to close at $9.33 per million British thermal unit (BTU), the highest closing price since August 1,

By Vanessa Yurkevich, CNN Business Nearly three quarters of US farmers say this year’s drought is hurting their harvest — with significant crop and income loss, according to a new survey by the American Farm Bureau Federation, a lobbying group that represents agricultural interests. This year’s drought conditions are taking a harder toll than last

By Jordan Valinsky, CNN Business With football season approaching, Buffalo Wild Wings is adding a new menu item that’s all but synonymous with the sport: pizza. For the first time, the sports bar chain is adding pizza to its menu -— with a unique spin. Buffalo Wild Wings pizzas, available beginning Wednesday for $9.99, feature

Martha C. White for CNN Business With lower gas prices effectively putting more money back in their pockets, Americans continued to spend last month. But persistent inflation has reshaped their shopping habits. In July, US retail sales were flat compared to the previous month, the Census Bureau reported Wednesday. That marks a slowdown from June,

By Chris Isidore, CNN Business Target reported profit plunged 90% in the second quarter, falling far short of expectations, as inflation-weary customers pulled back on spending on nonessential items. Retailers, including Target, have been forced to cut prices on general merchandise, such as clothing, electronics and home goods, because of excess inventory of goods. Consumers

By Nicole Goodkind, CNN Business A dollar just isn’t worth what it used to be. At the grocery store, you’re getting about 11 cents less than you did just a year ago. That dollar covers 15 cents less on utility bills and it’s worth six cents less on your rent and housing costs. That adds

By Rob McLean, CNN Business GM is recalling hundreds of thousands of vehicles because of a problem with third-row seatbelts. The National Highway Traffic Safety Administration indicated on August 11 that GM is recalling 2021-2022 Cadillac Escalades, Chevrolet Suburbans, Tahoes and GMC Yukons that have third-row seats. “The rivet that retains the buckle to the

By Matt Egan Interest rates on credit cards are so high these days that consumers with a $5,000 credit card balance could pay an extra $1,000 in interest over the course of a year, according to the Consumer Financial Protection Bureau. The Fed has been aggressively raising interest rates this year in a bid to