CNN – Business/Consumer

By Julia Horowitz, CNN The latest inflation figures from the United States, the United Kingdom and the European Union are feeding hopes that the worst is over and some relief for struggling households could arrive soon. Annual inflation in the United States slowed to 6.4% in January, easing for the seventh consecutive month. In Europe,

By Michelle Toh, CNN One of China’s top investment bankers has become unreachable, according to his company. China Renaissance, an investment bank and private equity firm based in Beijing, said in a Thursday filing to the Hong Kong stock exchange that it “has been unable to contact” Bao Fan, its chairman and CEO. Shares of

By Chris Stern, Inke Kappeler and Olesya Dmitracova, CNN Lufthansa has canceled more than 1,300 flights scheduled for Friday after the Verdi labor union called for full-day strikes involving airport workers at seven German airports, including Frankfurt, Munich and Hamburg. Lufthansa, one of Europe’s biggest airlines, was ceasing all flight operations at Frankfurt and Munich

By Tara Subramaniam, CNN The energy crisis triggered by Russia’s war in Ukraine could push 141 million people worldwide into extreme poverty, according to a new report published Thursday in the journal Nature Energy. Researchers from the Netherlands, the United Kingdom, China and the United States modeled the impacts of increased energy prices in 116

By Chris Isidore, CNN Tesla is recalling all 363,000 US vehicles with its so-called “Full Self Driving” driver assist software due to safety risks, another blow to the feature that is central to the automaker’s business model. “Full self-driving,” as it currently stands, navigates local roads with steering, braking and acceleration, but requires a human

By Nimi Princewill and Stephanie Busari, CNN President Muhammadu Buhari on Thursday directed Nigeria’s central bank to reissue old 200-naira ($0.43) banknotes withdrawn just days ago as concerns grow that the botched introduction of new money could disrupt general elections later this month. Violent protests have erupted in recent weeks as millions of people struggled

By Parija Kavilanz, CNN The fierce storms and heavy rain that have pounded California in recent weeks could be the lifeline that one industry — and the communities that rely on it for their own survival — desperately needs. After years of drought, California has received an epic amount of rain already in 2023. While

By Nicole Goodkind, CNN It’s never wise to underestimate the power of the American consumer, which has kept America’s economy humming through a year and a half of inflation chaos. A white-hot retail sales report Wednesday demonstrated the resilience of US shoppers in the face of rising prices. That could help companies continue to grow

By Wayne Chang and Simone McCarthy, CNN China has imposed sanctions on two American defense manufacturers over arms sales to Taiwan, a day after Beijing pledged to take “countermeasures” in response to Washington’s handling of a suspected Chinese surveillance balloon that entered American airspace and was shot down by US forces earlier this month. Lockheed

By Michelle Toh, CNN Starbucks will open more than 400 stores across Asia Pacific in 2023, marking its biggest expansion in the region in five years. The coffee chain plans to add the new outlets in India, Indonesia, Thailand, Malaysia, Laos and the Philippines, where it aims to expand beyond major cities. It will open

By Manveena Suri, Kunal Sehgal and Rhea Mogul, CNN Indian tax officials have ended their days-long search of the BBC’s offices in New Delhi and Mumbai, the British broadcaster announced Thursday. Officials had spent three days raiding the spaces following the country’s ban on a BBC documentary that was critical of Prime Minister Narendra Modi’s