Money

By Chris Isidore, CNN Business The family of an elderly couple killed when the roof of their F-250 pickup collapsed during a rollover accident in 2014 has been awarded a massive $1.7 billion in punitive damages from Ford. The jury appeared to endorse the plaintiff’s arguments that Ford knew of the problem years before the

By Chris Isidore, CNN Business Ford is cutting 3,000 white collar jobs as it prepares to shift from traditional internal combustion engine vehicles to electric vehicles. Two thousand of the jobs are salaried positions and another 1,000 are contractors, Ford said. Affected employees will be notified they are losing their jobs later this week. “Building

By Parija Kavilanz, CNN Business Shareholders are pulling the rug out from under Bed Bath & Beyond. The embattled retailer’s stock dropped 11% in early trading Monday on reports that some of the company’s suppliers have stopped shipping products due to late payments for those goods. The news couldn’t come at a worse time for

By Matt Egan for CNN Business The Federal Reserve is unlikely to tame inflation without pushing the American economy into a recession, according to a survey of economists released Monday. Seventy-two percent of economists polled by the National Association of Business Economics expect the next US recession will begin by the middle of next year

By Anna Cooban, CNN Business French supermarkets and gas stations have an answer to soaring inflation — freezing some prices for the next few months. On Monday, French retail giant Carrefour announced that it would keep prices for more than 100 essential products unchanged for the next 100 days. The list of items includes breakfast

By Julia Horowitz, CNN Business Stocks have experienced a sharp summer rebound, easing fear among investors and boosting hopes the bear market has settled on an early hibernation. But at any moment, strategists warn, the Federal Reserve could deliver a reality check that jolts complacent traders. “Markets have [gotten] used to the idea of the

Opinion by Stephen G. Cecchetti and Kermit L. Schoenholtz for CNN Business Perspectives In June, US inflation hit a 40-year high of 9% and hasn’t slowed much since. Some people argue that corporate greed is a key driving force behind rising prices. Inflation is high, they say, because firms have greater power to raise prices

By Laura He, CNN Business China’s brutal heatwave is now hurting major players in the auto industry. The rationing of power in Sichuan province — China’s most important hydropower hub — has hit production for major carmakers in Shanghai, including Tesla, according to reports in Chinese state media. Sichuan ordered most factories to close for

By David Culver and Karol Suarez, CNN Sandra Ortiz struggles to talk about her family’s restaurant without breaking down into tears. “They arrived and told us we had five minutes to get everything out,” Ortiz said, recalling her family’s eviction in February. Ortiz, 55, and her four siblings had taken over Tortería Colima from their

By Michelle Toh, CNN Business China’s central bank is cutting its benchmark interest rate for mortgages yet again as it tries to stem a worsening property crisis. The People’s Bank of China announced Monday that it would cut its five-year loan prime rate from 4.45% to 4.3%. It also slashed its one-year loan prime rate