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By Parija Kavilanz, CNN Business As Sarah Longmore finished her back-to-school shopping, the mother of five looked at a $25 backpack for her preschooler. Soaring inflation had crunched the family’s budget, and she decided her daughter could make do with a hand-me-down. She put the backpack back. Like Longmore, many parents — regardless of income

By Paul R. La Monica, CNN Business Move over, Big Tech: Oil just might be the new FAANG. Energy stocks fell last week as oil prices tumbled. But crude prices are still up almost 20% so far in 2022, making the sector one of the few bright spots in the market this year. (In fact,

By Julia Horowitz, CNN Business Across the United Kingdom, businesses and households are warning that they won’t make it through the winter without help from the government. That sets up enormous challenges for Liz Truss, the incoming prime minister. For months, the United Kingdom has endured a leadership vacuum while the country has skidded toward

By Danielle Wiener-Bronner, CNN Business Forget breakfast, lunch and dinner. People can’t get enough of the in-between. Big companies report that snack sales are soaring. Net sales of Doritos, Cheetos, Ruffles, PopCorners, Smartfood and SunChips grew by double digits in the second quarter. Retail sales of Pirate’s Booty jumped about 32% and SkinnyPop sales increased

By Nathaniel Meyersohn, CNN Business Heading to the beach this Labor Day weekend? Chances are you’ll see Tommy Bahama-branded chairs, umbrellas and other gear spread out all over the sand. This tropical kitsch brand, which began in 1992 selling men’s silk Hawaiian shirts and then ventured into far-flung areas like furniture and restaurants, is nearly

By Brian Fung, CNN Parler, the social media platform frequented by many conservatives, is being restored to Google’s app store following what Google said were substantial changes to the app’s content moderation practices. Parler will again be available for download through the Google Play Store as early as Friday, Google (GOOG) said in a statement.

Martha C. White On Friday, the Bureau of Labor Statistics reported that the US unemployment rate had ticked up to 3.7% in August, an increase that surprised economists who had expected it to remain at July’s 3.5%. In a normal labor market, rising unemployment is a red flag. But even though today’s labor market is

By Uliana Pavlova and Anna Cooban, CNN Business Russia won’t immediately resume exports of natural gas to Europe through its Nord Stream 1 pipeline, worsening a shortage that threatens to tip the continent into an energy crisis this winter. On Friday, Russian state energy giant Gazprom said it would not resume flows through the pipeline

By Ivana Kottasová, CNN At least eight prominent Russian businessmen have reportedly died by suicide or in as yet unexplained accidents since late January, with six of them associated with Russia’s two largest energy companies. Four of those six were linked to the Russian state-owned energy giant Gazprom or one of its subsidiaries, while the

Opinion by Joseph H. Davis for CNN Business Perspectives Hardly a day goes by without news about inflation and the growing risk of recession. Customers around the world are feeling the pain of higher prices. In the United States, the Consumer Price Index (CPI) has risen at some of the fastest rates seen since the

By Nicole Goodkind, CNN Business The US has a jobs problem: There are too many of them. There are currently around two jobs available for every unemployed person, and as a result, employers have had to raise wages to attract suitable candidates. That sounds like a good thing — and it is for Americans who

By Alicia Wallace, CNN Business The economy added 315,000 jobs in August, exceeding economists’ expectations but far below July’s blowout report, when employment surged by a revised 526,000 positions. The nation’s unemployment rate rose to 3.7% from 3.5%, as more people entered the labor market looking for work, the Bureau of Labor Statistics reported Friday.

By Alex Stambaugh, Julia Horowitz and Michelle Toh, CNN Business The West’s biggest economies on Friday agreed to impose a price cap on Russian oil in an attempt to reduce Moscow’s ability to fund its war in Ukraine without further stoking global inflation. Finance ministers from the G7 group of countries — the United States,

By Hilary Whiteman, CNN Australia shut its borders for more than two years during the pandemic, but it also blocked access to potential workers and it’s desperate to have them back. On Friday, the government boosted its permanent migration numbers to 195,000 from this financial year — a rise of 35,000 people. Employers are hopeful