CNN – Business/Consumer

By Parija Kavilanz, CNN Business The CEOs of Target, Best Buy, Nordstrom, Home Depot and CVS are among a group of 20 retail leaders who sent a letter Thursday to Congress expressing their concern over a recent wave of brazen store robberies in major US cities and urged lawmakers to take action. The group called

By Kerry Flynn, CNN Business One of the last independent chains of local newspapers remaining in the U.S. has rejected a takeover bid from Alden Global Capital, the hedge fund known for buying up and then strangling vital local papers. The board of Lee Enterprises, a publicly traded company that owns daily newspapers and other

By Peter Valdes-Dapena, CNN Business More than half the money Volkswagen Group spends in the next five years will go towards electric vehicles and other high-technology efforts, the German automaker announced Thursday. By the end of 2026, VW expects that 25% of the vehicles it sells globally will be electric. Currently, electric vehicles account for

By Peter Valdes-Dapena, CNN Business Today, a lot of business students would probably pay serious money for Elon Musk’s opinion of their work. In 1995, though — long before he took control of Tesla and, later, founded SpaceX — Musk was a teaching assistant helping grade exams and papers at the University of Pennsylvania’s famous

By Matt Egan, CNN Business Online shopping used to be the one part of the economy where prices would reliably fall. Covid has changed that. Online prices rose in November for the 18th month in a row, Adobe said Thursday. And not only is inflation suddenly a force in the e-commerce world — it’s a

By Matt McFarland, CNN Business Amtrak service will likely be reduced next year as it complies with the upcoming vaccine requirement for federal workers. Amtrak president Stephen Gardner testified before a House of Representatives committee Thursday that the passenger rail operator does not anticipate having enough employees to run all trains when the mandate takes

By Anneken Tappe, CNN Business Weekly claims for unemployment benefits dropped to a new, multi-decade low last week, the Labor Department reported Thursday. At 184,000 claims, adjusted for seasonal swings, it was the lowest level of initial claims since September 1969, when the figure stood at 182,000. It was also a lower count than economists

By Julia Horowitz, CNN Business For once, investors are treating GameStop like a normal stock. What’s happening: The video game retailer reported disappointing earnings after US markets closed on Wednesday. Sales grew, but the company’s quarterly losses widened. It also disclosed that the US Securities and Exchange Commission had issued a subpoena in August for