CNN – Business/Consumer

By Chris Isidore, CNN Business After more than a month of surging prices, Tuesday brought some modest — very modest — relief to drivers. The average price of a gallon of regular gas fell to $4.32 a gallon, down from $4.33 a gallon Monday, according to AAA. Even at just nine-tenths of a cent, it

By Anneken Tappe, CNN Business Prices kept rising in February as another key inflation gauge soared and hit double digits. The US producer price index, which tracks what America’s producers get paid for their goods and services on average over time, rose 10% for the 12-month period ended in February, not adjusted for seasonal swings,

By Julia Horowitz, CNN Business After Russia invaded Ukraine, global oil prices experienced a dramatic spike. Just over a week ago, Brent crude leaped above $139 per barrel. Analysts warned prices could touch $185, then $200 as traders shunned Russian oil, pushing inflation even higher and adding huge strain to the global economy. But there’s

By Anneken Tappe, CNN Business Americans have watched prices for everything from diapers to gas go up over the past year. So far, they have kept reaching for their wallets. But what happens when they reach their breaking point? The pandemic and the supply chain crisis have pushed the cost of virtually everything higher. Food

Story by Reuters and Angela Dewan, CNN Environmental lawyers ClientEarth said on Tuesday they were preparing legal action against the directors of Shell over the company’s climate transition plan, in what they said would be the first such case of its kind. The lawyers from ClientEarth — which is a Shell shareholder — said they

By Paul R. La Monica, CNN Business For many years, the world’s most popular emerging markets have been the so-called BRICS: Brazil, Russia, India, China and South Africa. But given that Russia is no longer a market that Westerners can access following the invasion of Ukraine, it might be time for investors to stop lumping

By Laura He, CNN Business China’s economy started the year on a bright note, with several major indicators beating forecasts. But as Covid cases in the country spike, keeping up the same pace of growth in the coming months may prove difficult. Retail sales rose 6.7% in the first two months of 2022 compared to

By Anneken Tappe, CNN Business President Joe Biden planned to reshape the Federal Reserve through his nominations for the three vacant seats on the board of governors. But Democratic Sen. Joe Manchin of West Virginia threw a wrench into those plans Monday. The crux of the matter is the nomination of Sarah Bloom Raskin, a

By Oliver Darcy, CNN Business Fox News correspondent Benjamin Hall, who had been deployed in recent weeks to cover the war in Ukraine, has been hospitalized after being injured while reporting near Kyiv, the network said on Monday. “We have a minimal level of details right now, but Ben is hospitalized and our teams on

By Chris Isidore, CNN Business The auto industry has a saying: You can’t build a car with 99% of the parts. But the computer chip shortage is proving that adage wrong. Ford will begin shipping Explorer SUVs without all of its chips to address the tight inventory of vehicles available for sale at dealerships. The

By Matt McFarland, CNN Business Ben Morris bought his Tesla in 2020 believing that it would drive itself one day. Now he says he would settle for continuing to feel safe using its cruise control. Morris is one of hundreds of Tesla owners claiming that the automaker’s cruise control has deteriorated and turned dangerous in

By Paul R. La Monica, CNN Business Surging oil and gas prices have raised recession alarm bells around the world. But another economic indicator is starting to look ominous: The yield curve is flattening. Wall Street closely watches the difference, or spread, between short-term government bond yields, most notably the 2-year Treasury, and longer-term bond

By Charles Riley, CNN Business Russia has sent the clearest signal yet that it will soon default — the first time it will have failed to meet its foreign debt obligations since the Bolshevik revolution more than a century ago. Half of the country’s foreign reserves — roughly $315 billion — have been frozen by