Money

By Matt Egan, CNN Online shopping increased steadily this holiday season as record-setting discounts helped offset the pain from high inflation, according to a report released Thursday. Consumers spent a record $211.7 billion online shopping between November 1 and December 31, according to Adobe Analytics. That marks a 3.5% increase from the same period of

By Paul R. La Monica, CNN Economists are betting that the labor market cooled in December. That may be music to investors’ ears. Wall Street will get the last jobs figures for 2022 on Friday morning. The US government is expected to report that 200,000 jobs were added in December, according to forecasts of economists

By Hanna Ziady, CNN New car registrations in the United Kingdom fell to 1.6 million last year, the lowest level since 1992, as a global chip shortage hammered sales in the first six months. The supply constraints saw many manufacturers prioritize the delivery of battery electric vehicles, which enjoyed record sales and overtook diesel cars

By Anna Bahney, CNN Last year was a wild ride in the US housing market. Mortgage rates doubled and sales plummeted, triggering the longest month-to-month slump on record. A lot of would-be buyers and sellers watched from the sidelines. Throughout 2022, the Federal Reserve hiked its benchmark interest rate at a record pace to slow

By Julia Horowitz, CNN Ukraine’s economy shrank by more than 30% in 2022 after Russia’s brutal invasion destroyed infrastructure, hurt businesses and disrupted daily life, according to the country’s economy ministry. “During 2022, Ukraine’s economy suffered the largest losses and damage in the history of its independence,” Economy Minister Yulia Svyrydenko said Thursday. The projected

By Peter Valdes-Dapena, CNN BMW unveiled a pair of concept cars at the Consumer Electronics Show that show off how future cars might respond to the moods of their owners, with moods of their own. The two cars, which look basically the same, are both called the i Vision Dee concept. Dee stands for Digital

By Catherine Thorbecke, CNN Amazon says it plans to lay off more than 18,000 employees as the global economic outlook continues to worsen. Several teams will be affected, including the human resources department and Amazon Stores, according to a memo from CEO Andy Jassy shared with employees. “Companies that last a long time go through

By Clare Duffy, CNN Elon Musk’s team has subpoenaed the head of Saudi Arabia’s Public Investment Fund as part of litigation over the Tesla CEO’s 2018 tweet that he was considering taking the car company private and had secured funding to do so. Tesla shareholders sued Musk in 2018, alleging that he did not, in

By Anna Bahney, CNN It is almost as if the wild turns in the Manhattan real estate market during the pandemic didn’t happen. Almost. The frenzy to buy apartments in Manhattan took off in 2021 as the city bounced back from the worst of the pandemic. But it nosedived at the end of 2022, with

By Nathaniel Meyersohn, CNN Skip Bayless spent a third straight day defending his controversial tweet about Buffalo Bills safety Damar Hamlin, this time during a tense exchange Wednesday with his Fox Sports talk show co-host Shannon Sharpe. Sharpe, a former NFL player and member of the NFL Hall of Fame, returned to the duo’s talk