economy and trade

Consumers still don’t feel great about the economy, despite lower gas prices

Consumers still don’t feel great about the economy, despite lower gas prices

CNN — Consumer sentiment in August continued to rebound from its June trough, but Americans’ feelings about the economy remain profoundly depressed from a year earlier, weighed down by uncertainty about inflation and the job market. The nation’s collective outlook rose marginally this month, according to the latest University of Michigan Surveys of Consumers released …

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Johnson & Johnson will stop selling talc-based baby powder around the world in 2023

new York CNN Business — Johnson & Johnson is abandoning talc-based baby powder next year and instead will make it with cornstarch. Its talc-based powder, which hasn’t been sold in the United States and Canada since 2020, is at the center of tens of thousands of arguments filed by women who have developed ovarian cancer …

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The US Postal Service is raising rates for the holidays

new York CNN Business — For the third year in a row, the United States Postal Service is hiking the prices of its delivery services – but just for a few months. The postal service is requesting a temporary price increase on a variety of mail services for the peak holiday season to offset rising …

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Manhattan rents hit record high for the sixth month in a row

CNN Business — Rents in Manhattan have hit a record high for the sixth month in a row. Median rent for an apartment in Manhattan climbed to $4,150 a month in July, surging 29% from a year ago, according to a monthly report from brokerage firm Douglas Elliman and Miller Samuel Real Estate Appraisers and …

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Ford just raised the price of the F-150 Lightening

CNN — Ford on Thursday will once again begin taking orders for its popular F-150 Lightning electric pickup truck. But this time the base model of the pickup will cost about $7,000 more than before. When the Lightning first went on sale, the Pro version – the base model intended mostly as a simple work …

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Billionaires are searching for critical minerals in Greenland as ice melts

Nuussuaq, Greenland CNN — Some of the world’s richest men are funding a massive treasure hunt, complete with helicopters and transmitters, on the west coast of Greenland. The climate crisis is melting Greenland down at an unprecedented rate, which – in a twist of irony – is creating an opportunity for investors and mining companies …

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Warren Buffett’s company lost $44 billion last quarter, but it’s not really bad news

new York CNN Business — Warren Buffett is just like the rest of us. He got crushed by the plunge in the stock market during the first half of the year. But the Oracle of Omaha is undeterred by the wildness on Wall Street. Berkshire Hathaway is still buying and many of the company’s diverse …

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Nasdaq’s new diversity rules aren’t enough

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN Business — Wall Street is taking the call to increase corporate diversity seriously. At …

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The mysterious companies behind Costco’s Kirkland Signature and Trader Joe’s O’s The hidden companies behind store brands like Kirkland Signatur The real story behind store brands

new York CNN Business — Kirkland Signature. Two-Buck Chuck. Simple Truth. Cat & Jack. Great Value. Amazon Basics. Store brands have never been more popular. They have become forces in their own right and make up around 21% of sales in the $1.7 trillion US grocery industry, according to IRI. As prices surge, store brands …

The mysterious companies behind Costco’s Kirkland Signature and Trader Joe’s O’s The hidden companies behind store brands like Kirkland Signatur The real story behind store brands Read More »

Elon Musk’s legal team has filed its official response to Twitter’s argument

new York CNN Business — Elon Musk’s legal team on Friday made public its official response to Twitter’s argument attempting to force him to complete their $44 billion acquisition deal. In the answer to Twitter’s complaint, which includes counter-claims against the company, Musk’s team attempts to refute the company’s that the Tesla CEO is unjustly …

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