Money

By Michelle Toh, CNN Business South Korea’s second biggest conglomerate is investing $22 billion into the United States, in high-priority areas including chips and clean energy. The funding announcement comes just as the group’s massive chipmaking unit warned of weaker consumer demand for technology products for the rest of the year. It also coincided with

By Nicole Goodkind, CNN Business Wall Street has a serious case of recession dread. Inflation is at a 40-year high and the Federal Reserve is aggressively hiking interest rates. Economic growth is slowing and, and so is the job market. Cracks are forming in the home-building and home-buying markets as mortgage rates have surged. Consumer

By Lauren del Valle and Oliver Darcy, CNN The lawyer for two Sandy Hook families that have sued right-wing conspiracy theorist Alex Jones asked a jury on Tuesday to award his clients $150 million in damages in a trial that will determine how much money they receive. “Now that is a huge verdict to be

By Parija Kavilanz, CNN Business Cosmetics company Glossier, which has cultivated a cult-like following among Millennials and Gen Zers, announced Tuesday it is bringing the brand into Sephora stores in its first retail partnership. Sephora stores nationwide and across Canada will start selling Glossier products beginning in early 2023 as well as on Sephora’s website

By Paul R. La Monica, CNN Business The Wall Street gambling parlor is still alive and well. Asset management firm AXS Investments recently launched funds that let investors make supersized bets on — or against — the daily performance of individual stocks. AXS now offers ETFs that use leverage, namely through exotic instruments known as

By Alicia Wallace, CNN Business Americans grew even more pessimistic about the US economy over the past month, according to the latest survey on consumer attitudes, intentions and expectations from The Conference Board. The consumer confidence index for July slipped to 95.7 from June’s revised reading of 98.4, which was adjusted downward by 0.3 points.

By Anna Bahney, CNN Business US home prices were up nearly 20% in May compared to the year before. But there were signs the market began to cool as rising mortgage rates pushed more prospective buyers to the sidelines. Home prices rose 19.7% in May from the year before, a slightly smaller jump than the

By Anna Cooban, CNN Business The European Union has agreed to ration its natural gas this winter to prevent a severe supply shock. But the bloc has watered down its ambitions by offering countries some significant leeway. On Tuesday, EU energy ministers agreed to a voluntary target to reduce gas usage by 15% between August

By Michelle Toh, CNN Business The global economy is already in trouble, yet risks keep piling up. In a report released Tuesday, the International Monetary Fund once again lowered its world economic forecast as it predicted major slowdowns in the three biggest economies: the United States, China and Europe. Those downturns, combined with the ongoing