By Nathaniel Meyersohn, CNN If you want to earn rewards points at Best Buy, you’ll have to take out a Best Buy credit card to be able to redeem them. Some customers hate the idea. The company’s free “My Best Buy” program has for years offered members points on purchases they can accrue to earn
Continue Reading By Matt Egan From rent and groceries to utilities, families are paying a lot more every month as they try to keep up with inflation. And while inflation has cooled in recent months, the typical household spent $371 more on good and services in December than a year ago, according to Moody’s Analytics. The good
Continue Reading By Tara Subramaniam and Vedika Sud, CNN For years, residents in the northern Indian city of Joshimath have complained to local officials that their homes are sinking. Now authorities are being forced to take action, evacuating nearly 100 families in the last week and expediting the arrival of experts to determine the cause. Cracks running
Continue Reading By Michelle Toh, CNN Eggs have soared in cost around the world over the past year as avian flu decimated chicken flocks and fallout from Russia’s war with Ukraine raised the prices of energy and animal feed. In the United States, egg prices have far surpassed the increase in other grocery items, soaring nearly 60%
Continue Reading By Rikki Klaus, CNN The US unemployment rate returned to a historic low of 3.5% in December. Not everyone is celebrating, however: Jobless rates for Black women and Latino men still haven’t recovered fully from the pandemic. The unemployment rate for Black women aged 20 years and older rose to 5.5% in December, from 5.2%
Continue Reading By Matt Egan, CNN For the first time since the early days of the pandemic, most business economists expect their companies to cut payrolls in the coming months, according to a new survey released Monday. Just 12% of economists surveyed by the National Association for Business Economics (NABE) anticipate employment will increase at their firms
Continue Reading By Nathaniel Meyersohn, CNN A spike in egg prices has squeezed customers. But even with rising costs of its own, the leading US egg supplier has found that it can make even more money out of every egg. The egg shortage has enabled record quarterly profits and sales at Cal-Maine Foods, the largest producer and
Continue Reading By Nathaniel Meyersohn, CNN A spike in egg prices has squeezed customers. But even with rising costs of its own, the leading US egg supplier has found that it can make even more money out of every egg. The egg shortage has enabled record quarterly profits and sales at Cal-Maine Foods, the largest producer and
Continue Reading By Gregory Wallace, CNN Delta Air Lines has a backup to the federal aviation safety system that failed this week, but the airline decided against using it, CEO Ed Bastian said Friday. Bastian described the Delta’s secondary system as “fairly old backup technology” involving the notices known as NOTAMs distributed by the Federal Aviation Administration
Continue Reading By Gregory Wallace, CNN Delta Air Lines has a backup to the federal aviation safety system that failed this week, but the airline decided against using it, CEO Ed Bastian said Friday. Bastian described the Delta’s secondary system as “fairly old backup technology” involving the notices known as NOTAMs distributed by the Federal Aviation Administration
Continue Reading By Matt Egan, CNN Business Covid-19 set off an epic housing boom that left first-time homebuyers feeling desperate amid relentless bidding wars and all-cash offers. Jay Farner, who presides over America’s largest mortgage lender Rocket Mortgage, says the days of sellers holding all the power are over. “Those moments of…there are 20 offers coming in
Continue Reading By Matt Egan, CNN Business Covid-19 set off an epic housing boom that left first-time homebuyers feeling desperate amid relentless bidding wars and all-cash offers. Jay Farner, who presides over America’s largest mortgage lender Rocket Mortgage, says the days of sellers holding all the power are over. “Those moments of…there are 20 offers coming in
Continue Reading By Alicia Wallace, CNN As inflation continues its slow and steady descent, consumer sentiment is climbing back out of a trough hit last year. The University of Michigan’s closely watched consumer sentiment index rose to 64.6 in the preliminary January survey, according to data released Friday. It’s the highest reading since January 2022 and up
Continue Reading By Parija Kavilanz, CNN At the end of a long wooden California pier that juts out above the Pacific ocean sits the Wharf House. It’s now almost entirely unreachable. The Wharf House restaurant, an iconic establishment for the residents in the seaside town of Capitola in Santa Cruz County, sits alone, boarded up, damaged, with
Continue Reading By Parija Kavilanz, CNN At the end of a long wooden California pier that juts out above the Pacific ocean sits the Wharf House. It’s now almost entirely unreachable. The Wharf House restaurant, an iconic establishment for the residents in the seaside town of Capitola in Santa Cruz County, sits alone, boarded up, damaged, with
Continue Reading By Jordan Valinsky, CNN Business Pepsi Zero Sugar will soon taste different. The sugar-free soda unveiled a new recipe that uses a “new sweetener system” that gives it a more “refreshing and bolder taste profile” compared to its previous iteration, Pepsi announced Friday. Pepsi didn’t reveal what specifically changed in the formula, though the company
Continue Reading By Paul R. La Monica, CNN JPMorgan Chase, Bank of America, Citigroup and asset management giant BlackRock posted results that topped Wall Street’s forecasts Friday, but investors were nonetheless a little disappointed at first. Trading was choppy, with most bank stocks falling at the open before rebounding. Shares of JPMorgan Chase were up about 2.5%
Continue Reading By Anna Cooban, CNN The world economy is still in a sticky spot, according to the head of the International Monetary Fund, despite cautious optimism among economists and business leaders that slowing inflation means the worst of last year’s crises may be over. Kristalina Georgieva, managing director of the IMF, said on Friday that conditions
Continue Reading By Anna Cooban, CNN Apple CEO Tim Cook recommended the company cut his pay this year after shareholders rebelled. The world’s largest tech company said it would reduce Cook’s target pay package to $49 million, 40% lower than his target pay for 2022 and about half Cook’s $99.4 million total compensation that he was granted
Continue Reading By Anna Cooban, CNN Apple CEO Tim Cook recommended the company cut his pay this year after shareholders rebelled. The world’s largest tech company said it would reduce Cook’s target pay package to $49 million, 40% lower than his target pay for 2022 and about half Cook’s $99.4 million total compensation that he was granted
Continue Reading