Money

By Nathaniel Meyersohn, CNN Business Here’s another sign that the economy is slowing. Procter & Gamble, the maker of Tide, Dawn, Bounty and other leading household brands, warned Friday that consumers were beginning to pull back on their spending as inflation concerns mount. P&G posted 7% sales growth during its most recent quarter ending June

By Alicia Wallace, CNN Business Inflation has crept into practically every corner of Americans’ lives. In Queens, New York, auto repair shop owner Audra Fordin says some customers have opted to save money by patching up a punctured tire only to be sideswiped by costlier repairs later. In Mount Juliet, Tennessee, the operators of a

By Peter Valdes-Dapena, CNN Business With electric cars, people often talk about “range anxiety,” and how cars with bigger batteries and longer driving ranges will alleviate that. I just drove an electric car from New York City to Atlanta, a distance of about 950 miles, and it taught me something important. The problem really isn’t

By Paul R. La Monica, CNN Business It’s been one year since Robinhood went public. And to say that the online broker’s performance has been disastrous would be a massive understatement. If someone were to write a kids’ book about it, they could title it “Robinhood and the Terrible, Horrible, No Good, Very Bad Year.”

By Matt Egan, CNN Business The American economy is losing steam and is vulnerable to sinking into a recession but it’s not in one yet, according to Moody’s Analytics chief economist Mark Zandi. “This is a slowdown. We’re not in recession, certainly not during the first half of this year,” Zandi told CNN in a

By Jeanne Sahadi, CNN Business Will there be a recession? And, if so, just how bad will it be for my finances? Those questions are looming large for Americans after the Federal Reserve yet again raised rates to combat high inflation, and the latest gross domestic product report showed that the economy slowed for the

By Tami Luhby, CNN Employers continued hiking workers’ pay at a brisker-than-expected pace, but the increases still weren’t enough to compensate for the even faster rise in inflation. Wages and salaries for civilian workers increased 1.4% in the second quarter and 5.3% over the year ending in June, according to the Bureau of Labor Statistics’

By Alicia Wallace, CNN Business Another key measure of inflation set a fresh 40-year high in June, a month marked by record-high gas prices. The Personal Consumption Expenditures price index, which measures the change in the prices of goods and services purchased by consumers, rose by 6.8% in June as compared to the same period

By Chris Isidore, CNN Business ExxonMobil and Chevron both reported record massive profits thanks to record gasoline prices during the quarter. Exxon’s profit, excluding special items, came to $17.6 billion in the second quarter, nearly double what it made in its very profitable first quarter as oil and gas prices started to soar in the

By Julia Horowitz, CNN Business When you think about a shrinking economy, what comes to mind? Factories shutting down. A wave of job losses and few open positions. Huge financial losses that batter most industries. That’s not what America is seeing right now, even though the country’s gross domestic product has declined for two consecutive

By Nadine Schmidt and Lauren Kent in London The German city of Hanover has banned hot water in public buildings and has introduced measures to reduce heating and energy usage as Europe faces a potential natural gas crisis this winter. “Every kilowatt-hour saved saves the gas storage tanks,” said the mayor’s office in a news