Money

By Matt Egan, CNN Business Prices at the pump continue to sink, providing relief to inflation-weary consumers and an economy mired in a slowdown. The national average for regular gasoline dropped three cents to $4.16 a gallon on Wednesday, according to AAA. That marks the 50th consecutive day of falling prices. Gas prices have tumbled

By Nicole Goodkind, CNN Business Americans may be wondering why they’re forced to spend more than $4 per gallon at the pump while energy companies are raking in record profits. Even more aggravating: Exxon and Chevron announced last week they’d spend billions of dollars of their earnings buying back their own stock, fattening investors’ portfolios.

By Julia Horowitz, CNN Business China’s yuan has fared better than many other major currencies this year. It’s shed 6.5% against the US dollar, holding its ground as the greenback has gone on a breakneck rally. The euro, the British pound and South Korea’s won have all dropped more than 10%, while Japan’s yen has

By Michelle Toh, CNN Business The Reddit retail army is back. A little-known Hong Kong-based company appears to have become the latest obsession of traders on the popular Reddit forum WallStreetBets, helping its stock shoot up 21,000% since its IPO less than a month ago. Shares of AMTD Digital have spiked nearly 3,000% over the

By Laura He and CNN’s Beijing Bureau, CNN Business China has suspended some trade with Taiwan in apparent retribution for a visit by the US House Speaker Nancy Pelosi to the self-governing island. The curbs include the suspension of some fruits and fish imports from Taiwan, and exports of natural sand to the island. China

By Danielle Wiener-Bronner, CNN Business Starbucks sales took a plunge in China due to the country’s strict Covid-19 restrictions. In the three months ending on July 3, sales at Starbucks’ Chinese locations open at least 13 months dropped 44%. “China faced its most severe COVID disruption since the onset of the pandemic,” in the quarter,

By Oliver Darcy, CNN Business The parents of a child who was murdered during the 2012 Sandy Hook shooting delivered emotional testimony in a Texas court on Tuesday, telling a jury that the lies pushed by right-wing conspiracy theorist Alex Jones have stained the legacy of their son and tormented them for years. The jury

By Matt Egan, CNN Business Americans are piling up credit card debt as they struggle to keep up with the high cost of living. US household debt surpassed $16 trillion for the first time ever during the second quarter, the New York Federal Reserve said Tuesday. Even as borrowing costs surge, the NY Fed said

By Jordan Valinsky, CNN Business Taco Bell’s Mexican Pizza is finally returning to menus following a three-month absence. The chain announced the meal is returning permanently on September 15, which is earlier-than-expected because Taco Bell said it “worked quickly to restock the beloved menu item.” Mexican Pizza came back to menus after a two-year hiatus