Money

By Matt Egan, CNN Business Goldman Sachs is urging the Federal Reserve to be patient in its quest to squash inflation. Even though inflation remains far too high, the investment bank says the Fed has already made “remarkable” progress in slowing the US economy and easing the concerning imbalance between supply and demand in the

By Christine Romans, CNN Kraft Heinz CEO Miguel Patricio says higher inflation and supply issues are coursing through the food industry, forcing companies to adopt new strategies for everything from production to promotion to packaging. And he doesn’t see an end to either issue anytime soon. “We’ve already increased the prices that we were expecting

By Paul R. La Monica, CNN Business Banks are in a bind. Rising interest rates should be good news for financial firms because they boost profitability for loans. But banking giants like JPMorgan Chase, Citigroup and Bank of America have been hit hard this year as the volatility on Wall Street from the Federal Reserve’s

By Julia Horowitz, CNN Business Rishi Sunak, Britain’s third prime minister in seven weeks, will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But his other task — shepherding the country through a recession — is poised to be just as daunting. The former finance minister

By Nicole Goodkind, CNN Business ESG investing — evaluating companies using environmental, social and governance factors — was one of the most-cited phrases in earnings calls during the first half of the year. But a looming recession, tanking stock markets and the race to US midterm elections have put those sustainability efforts on the chopping

By Laura He, CNN Business Hong Kong stocks had their worst day since the 2008 global financial crisis, just a day after Chinese leader Xi Jinping secured his iron grip on power at a major political gathering. Foreign investors spooked by the outcome of the Communist Party’s leadership reshuffle dumped Chinese equities and the yuan

By Yenny Sanchez, CNN If you’re one of those people who created a social media page for your dog, then keep reading … Yappy.com, an online retailer of pet gifts, is searching for its next “Chief Fluff Officer,” a gig that pays up to $10,000 a year. “The successful pup will be a natural behind

By Chris Isidore, CNN Business There is one surefire cure for high gas prices. Unfortunately, it’s far worse than the problem itself: A recession. Nothing kills demand for oil — and brings down prices faster — than recessions. Not only do they cause job losses, which means fewer people commuting to work, but those who

By Paul R. La Monica, CNN Business The housing market is rapidly losing steam. Interest rates continue to rise. The stock market remains volatile. And inflation continues to be a major problem for people trying to pay their bills. Given all that, one might think the de-facto economic report card for the third quarter —

By Harmeet Kaur, CNN Diwali seems to be everywhere this year. More and more major brands are recognizing the festival of lights, running ad campaigns and stocking products related to the holiday in the US. South Asian Americans who celebrate Diwali can now pick up fireworks from Costco, greeting cards from Hallmark and party decorations

By Rachel Ramirez, CNN The end of October is a sugar avalanche as kids don their Halloween costumes and snag as many sticky sweets as they can. But the prospect of collecting and eating a whole trick-or-treat bag of candy gets a little scary when you think about the impact. Not only are most Halloween

By Andy Rose, CNN The owner and co-founder of the sports drink company Red Bull has died, the company announced Saturday. Dietrich Mateschitz began marketing the drink in Austria in 1987, according to the company. “In these moments, the over-riding feeling is one of sadness,” Red Bull said in a company-wide email to employees. “But