Money

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

By Julia Horowitz, CNN Business Investors are anxious, tired and gloomy as they digest the worst start to the year since 1970 and try to chart a path forward. But you wouldn’t know it from watching major stock indexes. What’s happening: The S&P 500 rallied more than 9% in July, its best month since November

By Laura He, CNN Business Global markets fell on Tuesday as investors feared US House Speaker Nancy Pelosi’s visit to Taiwan could severely escalate tensions with China. US and European equities followed Asian indexes down as investors weighed the market implications of the trip. Hong Kong’s Hang Seng Index fell 2.4%, and mainland China’s Shanghai

By Nathaniel Meyersohn, CNN Business A glimmer of relief is emerging at the checkout aisle: the return of discounts. Walmart, Best Buy, Gap, Target, Bath & Body Works and others are increasing promotions and lowering prices on merchandise to entice inflation-weary shoppers to buy extra goods sitting on their shelves. Months ago these chains stocked

By Anna Bahney, CNN Business So far this year, the real estate market has not been going the way many prospective homebuyers had hoped. Home prices — already at all-time highs — have continued to climb and mortgage rates have risen much faster than expected. While some buyers have forged ahead, others have put their

By Michelle Toh, CNN Business For years, KFC customers in China wondered why the chain didn’t sell chicken feet, which are a delicacy in the country. Now, “I can report back that for this year, for 2022, we are finally selling chicken feet,” Yum China CEO Joey Wat told CNN Business in an interview Monday.

Opinion by Emily Parker for CNN Business Perspectives Cryptocurrency is having an existential crisis. Last month, crypto lender Celsius filed for bankruptcy protection. It has frozen withdrawals since June 12, and it’s unclear if or when customers will get their money back. But Celsius is just one domino to fall. Crypto lender Voyager Digital also

By Julia Horowitz, CNN Business The highest oil prices in a decade. A renewed government focus on energy security. Huge demand for refining crude so it can be used as fuel. Conditions for Big Oil companies haven’t looked this good in years, and ExxonMobil, Chevron and Shell plan to ride the wave as long as

By Anna Cooban, CNN Business Europe’s biggest economy is suffering — and it could spell trouble for the whole continent. German retail sales slumped 8.8% in June compared with the same month a year ago, according to preliminary data from the country’s Federal Statistics Office released Monday. That’s the biggest drop since officials started keeping