By Danielle Wiener-Bronner, CNN Business Inflation may be slowing, but food prices are still through the roof. Food costs spiked 11.4% over the past year, the largest annual increase since May 1979, according to data released Tuesday by the Bureau of Labor Statistics. Americans browsing the supermarket aisle will notice most food items are far
Continue Reading By Paul R. La Monica, CNN Business Prices at the pump have fallen along with the cost of a barrel of crude oil. But the CEO of Chevron, one of the world’s largest energy companies, thinks consumers in the United States should be prepared for a shock when they get home heating bills this winter.
Continue Reading By Chris Isidore, CNN Business FedEx warned that a global recession could be coming, as demand for packages around the world tumbles. Shares of FedEx plunged 21% Friday — the biggest one-day drop in its history — after the company warned late Thursday that a slowing economy will cause it to fall $500 million short
Continue Reading By Alicia Wallace, CNN Business US inflation ticked back up in August, despite plunging gas prices, according to data from the Bureau of Labor Statistics released Tuesday. On a monthly basis, consumer prices rose 0.1% from July, according to the Consumer Price Index, which measures a basket of consumer goods and services. Economists had projected
Continue Reading By Nicole Goodkind, CNN Business Federal Reserve Chairman Jerome Powell has a big problem, and he can’t do anything about it. Gasoline prices in the United States, which have fallen for 91 consecutive days, are expected to have driven a slight decline in prices in August compared to July, according to analyst estimates for inflation
Continue Reading Martha C. White for CNN Business Small business sentiment improved in August but remains depressed as business owners face an uncertain economic landscape. Buoyed by marginally better expectations in the near term and a slight reduction in inflation worries, the monthly Small Business Optimism Index from the National Federation of Independent Business rose to 91.8
Continue Reading By Parija Kavilanz, CNN Business The kids, the grandparents, the babysitter, maybe your favorite aunt or uncle. That’s it. You can blame inflation for families knocking friends, co-workers and extended families off your holiday gift lists this year. Persistent inflation — consumer prices increased by 8.5% in July over last year — has reshaped how
Continue Reading By Danielle Wiener-Bronner, CNN Business The past few years have been tough for Burger King. Missteps during the pandemic caused the chain to lag behind competitors. Over the past few quarters, Burger King has been playing catch up, and now the company is hoping a major investment in restaurants and advertising will help spark growth
Continue Reading By Danielle Wiener-Bronner, CNN Business The past few years have been tough for Burger King. Missteps during the pandemic caused the chain to lag behind competitors. Over the past few quarters, Burger King has been playing catch up, and now the company is hoping a major investment in restaurants and advertising will help spark growth
Continue Reading By Matt McFarland, CNN Business US commuter rail service will face a huge disruption Friday if a freight rail strike is not avoided. Many passenger rail services operate on tracks owned by freight railroads. Without the freight employees on hand to operate their networks, US rail commuters will be unable to make their trips. Some
Continue Reading By Tami Luhby, CNN Gas prices are on the decline. Inflation has moderated a little, though it remains historically high. Consumers are feeling slightly more optimistic about the future. Has your outlook on the economy changed in recent months? How about your thoughts on your personal financial situation? Share your story with CNN. You could
Continue Reading By Lauren del Valle, CNN Conspiracy theorist Alex Jones will be back on trial Tuesday, facing more family members of Sandy Hook Elementary School shooting victims, weeks after a Texas jury determined he and his company should have to pay one student’s parents nearly $50 million for defaming the student’s father and inflicting emotional distress
Continue Reading By Ross Levitt and Chris Isidore, CNN Amtrak announced Monday that it is preemptively suspending service on some of its long range routes, mostly out of Chicago, due to a looming freight rail strike. “Amtrak is closely monitoring the ongoing freight rail — rail labor contract negotiations. The negotiations do not involve Amtrak or the
Continue Reading By Chris Isidore, CNN Business America’s freight railroads have already stopped accepting shipments of hazardous and other security-sensitive materials because of the looming threat of a strike Friday. Union Pacific, one of the major national railroads whose operations would be halted by a strike, said the move is meant to “protect employees, customers, and the
Continue Reading By Frank Pallotta, CNN Business Dan Loeb is fine with Disney keeping ESPN after all. The activist investor and Third Point CEO, who made headlines last month when he proposed that the media giant spin off ESPN, had a change of heart over the weekend. “We have a better understanding of ESPN’s potential as a
Continue Reading By Frank Pallotta, CNN Business Dan Loeb is fine with Disney keeping ESPN after all. The activist investor and Third Point CEO, who made headlines last month when he proposed that the media giant spin off ESPN, had a change of heart over the weekend. “We have a better understanding of ESPN’s potential as a
Continue Reading By Chris Isidore and Adrienne Broaddus, CNN Business About 15,000 nurses in Minnesota went on strike Monday morning, saying they are fighting for better staffing and better care for their patients. The strike is against 13 hospitals in the Minneapolis-St. Paul market, as well as Duluth. It is scheduled to last only three days, and
Continue Reading By Paul R. La Monica, CNN Business Few investments have increased in value during this challenging year on Wall Street. But one asset that is in green in 2022 is literally green: the US dollar. The greenback has soared this year thanks to the Federal Reserve jacking up interest rates to fight inflation and hopes
Continue Reading By Alicia Wallace, CNN Business Americans are expecting inflation to fall sharply in both the short and long run, according to new data from the Federal Reserve Bank of New York. In August, the median expectations for one- and three-year inflation dropped to 5.7% and 2.8%, respectively, down from 6.2% and 3.2% in July, according
Continue Reading Opinion by Karen S. Lynch for CNN Business Perspectives Even though mental health challenges aren’t anything new, we are living in a time with a series of unique stressors that are impacting every one of us, such as Russia’s invasion of Ukraine, as well as a pandemic that has stretched two-and-a-half years and continually reminds
Continue Reading