Money

By Chris Isidore, CNN New York (CNN) — It’s called sticker shock. And if you haven’t been to a dealer’s showroom since before the pandemic, you might want to prepare yourself. Americans paid a whopping $47,612 on average for a new car in October, according to data from Edmunds. That’s a jump of almost $10,000

By John Towfighi, CNN (CNN) — President-elect Donald Trump promised Americans he’d bring down consumer prices, make health care more affordable and protect Social Security. Now he has to follow through. Concerns about inflation and the cost of living were central to Trump’s victory in the US presidential election. According to CNN exit polls, 68%

By Jordan Valinsky, CNN New York (CNN) — McDonald’s is spending $100 million on marketing and to help franchises most heavily affected by a recent E. coli outbreak that has sickened more than 100 people and damaged sales. In a memo sent to employees and obtained by CNN, McDonald’s is spending $35 million on marketing,

By Chris Isidore, CNN New York (CNN) — The $7,500 tax credit for buyers of electric vehicles could be vanishing early in the new Trump administration, but that might actually be good news for Tesla and its CEO Elon Musk, one of President-elect Donald Trump’s most prominent backers. While the US tax credit goes to

By Amy Gunia, CNN (CNN) — Climate change is impacting urban areas especially hard, and densely populated cities are suffering the most. The urban heat island effect means that city temperatures can be several degrees higher than nearby rural regions. That’s because materials like concrete and asphalt absorb and radiate heat. Vehicles and air-conditioning units

By Jordan Valinsky, CNN New York (CNN) — Laura Helmuth is resigning as editor-in-chief of Scientific American magazine following an expletive-filled rant about Donald Trump voters. Posting on Bluesky, an X rival, Helmuth said Thursday that she’s “decided to leave Scientific American after an exciting 4.5 years as editor in chief” without mentioning her previous

By Alicia Wallace, CNN (CNN) — Family-run furniture and barware maker Barrel-Art has now been through three US presidential elections. While business before the 2024 race felt similar to 2016 and 2020, this year has also brought more unpredictability. Sales petered out in the months ahead of Election Day as businesses and shoppers paused their

By Jeanne Sahadi, CNN (CNN) — By some estimates, almost half of US private sector workers — close to 57 million people, according to AARP — do not have access to a retirement plan at their jobs. That’s either because their company doesn’t offer one or because they don’t qualify to participate in an employer’s

By Ramishah Maruf, CNN New York (CNN) — Shares of prominent vaccine makers plunged Thursday after President-elect Donald Trump announced his pick of Robert F. Kennedy Jr. to be the next secretary of the Department of Health and Human Services. An hour before the market closed Thursday, as news reports of Trump’s choice began trickling

By Erika Tulfo, CNN (CNN) — Ford is being fined up to $165 million after the National Highway Traffic Safety Administration ruled the company moved too slowly in recalling cars with faulty rearview cameras. The ruling comes three years after the NHTSA opened an investigation to determine whether Ford waited too long to issue its

By Bryan Mena, CNN Washington (CNN) — Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months. Powell said more rate cuts are likely underway because the economy’s current trends and dynamics are expected to

By Hadas Gold, CNN (CNN) — Satirical news site The Onion won the auction to acquire conspiracy theorist Alex Jones’ Infowars, which was sold off as part of a defamation settlement after he falsely called the Sandy Hook Elementary School massacre a hoax. The Onion’s bid was backed by the families of eight victims of

By Jordan Valinsky, CNN New York (CNN) — Craig Melvin will become the co-anchor of NBC’s “Today” show beginning early next year, following the departure of Hoda Kotb. He will join Savannah Guthrie on Monday, January 13. Kotb’s final day on the morning show will be Friday, January 10, the network announced. Melvin is a

By Chris Isidore, CNN New York (CNN) — Disney did something extraordinary Thursday, giving investors a rare three-year financial outlook, even at a time of economic uncertainty. The company said that it has deep faith its investments in its massive park expansions, movie pipeline and even its linear television assets will pay off. Shares of

By Alicia Wallace, CNN (CNN) — US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level. The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, rose 0.2% on a monthly basis and 2.4% for the 12 months ended in

By Brian Stelter, CNN New York (CNN) — Donald Trump’s reelection last week emboldened his allies to proclaim that he had vanquished the American news media as well as Vice President Kamala Harris. “The media is dead,” Fox News comedian Greg Gutfeld declared. “It’s dead,” his primetime colleague Sean Hannity echoed. “You are the media

By Jordan Valinsky, CNN New York (CNN) — Advance Auto Parts is closing more than 700 locations to shore up the company’s finances following another dismal earnings report. The car parts retailer, which has about 5,000 stores, said Thursday that the closures are part of its “strategic plan to improve business performance.” Advance Auto Parts

By Nathaniel Meyersohn, CNN New York (CNN) — Starbucks baristas can put eight shots of espresso into one cup. They can make drinks that taste like strawberries, apple pie, pumpkin spice or, separately, pumpkin cream. But they can’t get Amanda Poore’s coffee order right. “I usually like about a half-ounce of creamer or less. That

By Ramishah Maruf, CNN New York (CNN) — A Chipotle shareholder is suing the fast-casual chain over viral social media complaints about skimpy portion sizes. The proposed class-action lawsuit filed Monday claims Chipotle understated customer dissatisfaction regarding its “highly inconsistent” portion sizes in official disclosures. The lawsuit said that unhappiness wasn’t clear until the spring