Money

By Peter Valdes-Dapena, CNN Business Rivian, the Irvine, California-based electric vehicle company, is recalling nearly all the vehicles it has produced to tighten a loose fastener in the vehicles’ front suspension. The recall involves 12,212 electric pickups, vans and SUVs, according to paperwork the company filed with the National Highway Traffic Safety Administration. The Amazon-backed

By Julia Horowitz, CNN Business Pension funds are designed to be dull. Their singular goal — earning enough money to make payouts to retirees — favors cool heads over brash risk takers. But as markets in the United Kingdom went haywire last week, hundreds of British pension fund managers found themselves at the center of

By Danielle Wiener-Bronner, CNN Business With grocery prices soaring, consumers are changing the way they shop for food. That’s great news for discount grocers like bare-bones supermarket Aldi. Aldi, which requires a 25-cent deposit to use grocery carts, sells mostly store brands and doesn’t waste time on elaborate displays, might not be for everyone. But

By Nathaniel Meyersohn, CNN Business Online ordering is kind of a big thing these days, if you haven’t heard yet, and just about every supermarket chain in America offers delivery and curbside pickup. Except Trader Joe’s. The private company, which started in 1967 to appeal to counterculture shoppers overlooked by mainstream stores, rejects delivery because

By Chris Isidore, Amanda Watts, Judson Jones and Brandon Miller, CNN Business The lowest water levels in the Mississippi River in a decade, caused by a severe Midwest drought, have closed the vital channel to barge traffic at a crucial time of the year for the transport of crops from the nation’s heartland. The Army

By Chris Isidore, CNN Business Homeowners could be hit with as much as $17 billion in uninsured losses due to flooding from Hurricane Ian due to the latest estimate on damage caused by the storm. The damage estimate comes from CoreLogic, a leading research firm that tracks and estimates the cost of damages from natural

By Jordan Valinsky, CNN Business Adidas is reviewing its partnership with Kanye West after the artist lambasted the company and wore a “White Lives Matter” T-shirt in public. “After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review,” the apparel maker said in a statement. “We

Opinion by Gad Levanon for CNN Business Perspectives To many economists and analysts, the US economy has represented a paradox this year. On the one hand, GDP growth has slowed significantly, and some argue, even entered a recession. On the other hand, overall employment growth has been much stronger than normal. While GDP declined at

By Hanna Ziady, CNN Business The UK government could award oil and gas companies more than 100 new licenses to drill in the North Sea, as it looks for ways to bolster energy security amid a global supply crunch. Launched Friday, the licensing round won’t lead to new UK production for several years. And when

By Nicole Goodkind, CNN Business The White House isn’t very happy with OPEC’s decision to slash oil production by 2 million barrels per day. Consumers won’t be big fans either, as the move will likely send gas prices higher. But there’s one big winner coming out of the ordeal: Oil stocks. What’s happening: The cartel