CNN – Business/Consumer

By Lucy Bayly and Alicia Wallace, CNN Business Inflation surged to a new pandemic-era peak in June, with US consumer prices jumping by 9.1% year-over-year, according to fresh data released Wednesday by the Bureau of Labor Statistics. That’s the highest level in more than 40 years and higher than the previous reading, when prices rose

By Frank Pallotta, CNN Business You’ll soon be able to sign up for a cheaper version of Netflix with ads — though that option is still in its “early days.” Netflix will partner with Microsoft on this new ad-supported subscription plan, the two companies announced Wednesday. The partnership follows the surprising announcement in April that

By Allison Morrow, CNN Business Bill Gates is moving $20 billion of his wealth into the endowment of the Bill and Melinda Gates Foundation, which is ramping up its spending in the face of global challenges including the pandemic and the war in Ukraine. The foundation, one of the world’s largest philanthropies, plans to increase

By Jeanne Sahadi, CNN Business Before the pandemic, many corporate leaders believed that allowing their employees to work from home would hurt productivity. But, in many cases, the pandemic proved otherwise. “Productivity [did not suffer] despite many companies going fully remote. Many thrived through that process and continue to hire at record pace,” said Ben

By Danielle Wiener-Bronner, CNN Business Food prices are still on the rise, but some relief may be on the horizon. In the 12-months ending in June, overall food prices rose 10.4%, the biggest annual increase since February 1981, according to data released Wednesday by the Bureau of Labor Statistics. Grocery prices jumped 12.2% in the

By Nathaniel Meyersohn, CNN Business In 1969, real estate investor Don Fisher opened a store in San Francisco aimed at teens and college kids, offering Levi’s blue jeans alongside records and tapes. Fisher planned to call the store Pants and Discs, but his wife Doris came up with the winning name: “The Gap,” shorthand for

By Allison Morrow, CNN Business Editor’s Note: This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Good news and bad news, America: The US dollar and the euro are officially even, which should make your European summer vacay easier on the budget. A croissant

By Chris Isidore, CNN Business Flying in and out of the Dubuque, Iowa, airport on the banks of the Mississippi has been a breeze for the 100,000 residents of the county. The airport is small and easy to get through. Parking is free. That all is set to end this September. American Airlines, the only

By Nicole Goodkind, CNN Business Billionaire activist investor Bill Ackman will close his special purpose acquisition company and return $4 billion to investors after failing to find an adequate target company to take public. In a letter to shareholders Monday, Ackman said he would return the funds and wind down his SPAC, Pershing Square Tontine

By Frank Pallotta, CNN Business Dave Chappelle‘s Netflix comedy special, “The Closer,” received huge backlash last year for the comedian’s jokes about the trans community that some found deeply offensive. The fallout created a firestorm both inside and outside of Netflix. Fast forward to Tuesday, when “The Closer” was nominated for two Emmys. “The Closer”

By Matt McFarland, CNN Business Jason Simon placed an order for a Tesla Model 3 this April, eager to own an electric vehicle. He heard from Tesla in June that his car was ready, but he backed out of the purchase, losing the $250 order fee he paid. Simon told CNN Business his feelings changed