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By Matt Egan High inflation is making Americans unhappy, and the Federal Reserve must step up its campaign to get prices back under control, a top Fed official said Monday. “This inflation we’re seeing is very bad for low and moderate-income households,” St. Louis Federal Reserve President James Bullard told CNBC. “Real wages are declining.

By Jordan Valinsky, CNN Business The app for Coinbase, a cryptocurrency exchange, briefly crashed Sunday after a bizarre Super Bowl ad sparked a surge in traffic. The 60-second ad featured a floating and colorful QR code bouncing around the screen, similar to a bouncing DVD logo. The QR code directed people to a link offering

By Karol Suarez, CNN Business The United States has suspended avocado imports from Mexico’s western state of Michoacan after a US official received a threat, Mexico’s Agriculture Ministry said in a statement on Saturday. According to the statement, the US Department of Agriculture Animal and Plant Health Inspection Service (USDA-APHIS) decided to pause until further

By Julia Horowitz, CNN Business Oil prices have been climbing ever since the global economy started to recover from Covid-19. Now, as the United States warns that Russia could imminently invade Ukraine, they’re pushing even higher. What’s happening: Brent crude futures, the global benchmark, rose above $96 per barrel on Monday before falling back slightly.

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. From a marketing perspective, you have to marvel at what NBC has pulled off. The company billed this day as “Super Gold Sunday” because it opened with Winter Olympics action,

By Ramishah Maruf, CNN The future of the press is in play at the “libel trial of the century,” chief media correspondent Brian Stelter said on “Reliable Sources” Sunday about the Sarah Palin v. New York Times case. The trial is now up to the jury, made up of nine New Yorkers who are set

By Ramishah Maruf, CNN Walmart updated its Covid-19 policy for US associates Friday, dropping its mask mandate and Covid-19 sick leave policy, the company announced in a memo viewed by CNN Business. The nation’s largest private retailer announced the changes as several US states, from New York to California, issued their own plans to lift

By Jay Croft, CNN Forget spices and jasmine. The makers of a new perfume say they’re using the scent of something truly irresistible just in time for Valentine’s Day: French fries. Frites by Idaho is the limited-edition fragrance available only on the Idaho Potato Commission’s website. The commission cites polling that suggests almost 90 percent

By Paul R. La Monica, CNN Business Stocks fell sharply Friday after the White House said Americans should leave Ukraine “immediately” due to worries about an imminent invasion by Russia. The Dow Jones Industrial Average fell a little more than 500 points, or 1.4%, after the Biden administration said it would be ready to respond

By Paul R. La Monica, CNN Business Only a month ago, a significant percentage of investors thought that the Federal Reserve wouldn’t need to raise interest rates in March. So much for that. The stock and bond markets are now gripped by fears of multiple rate hikes this year. Inflation worries have become so prevalent

By Paul P. Murphy and Paula Newton, CNN Online crowd fundraising site GiveSendGo said on Twitter it will not follow a Canadian court order mandating it stop distributing funds to convoy protesters. “Canada has absolutely ZERO jurisdiction over how we manage our funds here at GiveSendGo,” the company wrote on Twitter. “All funds for EVERY

By Jeanne Sahadi, CNN Business Imagine having filed and paid your taxes last year, then months later you get a letter in the mail from the IRS saying you didn’t. That’s what’s happening to many taxpayers this year thanks to automated notices being sent by the IRS. But if you got one, don’t panic. There’s

By Matt Egan, CNN Business Three of America’s largest business groups are warning the trucker-inspired protests along the US-Canada border are further straining stressed-out supply chains. In a joint statement Thursday night, the US Chamber of Commerce, Business Roundtable and National Association of Manufacturers urged a swift resolution to the blockages. “The disruptions we are

By Anneken Tappe, CNN Business Prices keep rising, and Americans are growing concerned that Washington’s policies won’t do much about them. An early look at consumer sentiment in February shows just that. Sentiment dropped more than economists expected between the first two months of the year, reaching the worst level in a decade at 61.7

By Julia Horowitz, CNN Business Past may not be prologue for financial markets as the global economy continues to reel from the pandemic. But a traditional recession signal is still catching Wall Street’s attention. What’s happening: The US government bond market sold off on Thursday alongside stocks following the news that inflation reached 7.5% in

By Peter Valdes-Dapena, CNN Business If you’re tired of getting random calls from companies claiming to be from “dealer services” and offering you an extended warranty on your car, the Federal Trade Commission is taking aim at some companies accused of making those calls. The FTC has filed suit against American Vehicle Protection Corp. of

By Chris Isidore, CNN Business After a year of computer chip shortages, supply chain problems and temporary plant closings, this was about the last thing the auto industry needed. The protests by Canadian truckers, upset with Canadian vaccine mandates, have been tying up traffic on the Ambassador Bridge between Windsor, Ontario and Detroit, a key

By Matt Egan Red-hot inflation is raising pressure on the Federal Reserve to take drastic action to get control of prices. James Bullard, the president of the St. Louis Federal Reserve Bank, told Bloomberg News Thursday he has become “dramatically” more hawkish and now supports raising interest rates by a full percentage point by July

By Anna Bahney, CNN Business Home prices rose by double-digit percentages in two-thirds of the largest US cities at the end of last year, but that was a slowdown from earlier in 2021. Of 183 metro areas tracked, 67% saw double-digit growth in median home prices during the fourth quarter, down from 78% in the

By Danielle Wiener-Bronner, CNN Business The tide could be turning on consumers’ willingness to pay higher prices, Coca-Cola CEO James Quincey warned Thursday. Consumer goods companies have been steadily hiking prices as their own production costs rise, and so far, shoppers seem to be accepting the increases. Executives at McDonald’s, Chipotle and elsewhere have recently

By Parija Kavilanz, CNN Business Adidas will soon debut a new sports bra line, but one of its ads doesn’t show the bra at all. Instead, Adidas tweeted a photo grid of 25 pairs of bare breasts in all their natural, diverse glory. The sports apparel company pinned the ad to its Twitter page Wednesday,

By Frank Pallotta, CNN Business Welcome back to Jurassic World. Universal Pictures debuted the new trailer for “Jurassic World Dominion” — one of the most highly anticipated films of 2022 — on Thursday. The first look featured everything you would expect from a “Jurassic World” movie: dinosaurs running wild, Chris Pratt on a motorcycle chasing

By Chris Isidore, CNN Business Elon Musk has repeatedly bragged (or, perhaps, complained) that he’ll pay more in federal taxes for 2021 than anyone has ever paid — about $11 billion. But Tesla apparently won’t pay a cent. Tesla may not plan to pay federal taxes any time in the foreseeable future — even though

By Anna Bahney, CNN Business Mortgage rates increased again, rising to a level not seen since before the pandemic. The 30-year fixed-rate mortgage averaged 3.69% in the week ending February 10, up from 3.55% the week before, according to Freddie Mac. It’s the highest since January 2020. “The normalization of the economy continues as mortgage

By Julia Horowitz, CNN Business Liz Ann Sonders, the chief investment strategist at Charles Schwab, thinks Wall Street is missing the point on inflation. US inflation accelerated to 7.5% in January, the highest level in nearly 40 years, according to Labor Department data published Thursday. Sonders thinks the news could trigger another round of Wall

By Diksha Madhok and Sophia Saifi, CNN Business South Korean automaker Hyundai faced controversy this week in India, sparking diplomatic tensions between Seoul and Delhi. India’s Ministry of External Affairs said Tuesday that it summoned the Korean ambassador to express “strong displeasure” over what the agency called an “unacceptable social media post” made by one

By Sonia Moghe, CNN Former Alaska Governor Sarah Palin took the witness stand Wednesday in her defamation trial against the New York Times. Palin testified for about 15 minutes before court ended for the day. She sued the New York Times and former editorial page editor James Bennet in 2017 over an editorial they published

By Frank Pallotta, CNN Business Disney+ regained some of its magic on Wednesday with subscriber totals that exceeded Wall Street’s expectations. The streaming service now has 129.8 million subscribers, a gain of nearly 12 million in the company’s fiscal first quarter. Those results beat expectations and were a rebound for the media company after a

By Matt Egan, CNN Business Oil prices could soar to $120 a barrel if Russia’s crude exports are derailed by tensions with Ukraine, according to projections from JPMorgan. The forecast underscores how a potential invasion of Ukraine would cause wide-ranging ripple effects that would be felt by inflation-weary consumers around the world. “Any disruptions to

By Matt Egan, CNN Business Sick workers. Computer chip shortages. Supply chain stress. Carrier Global, like countless other companies right now, is navigating a minefield of challenges to get orders out to its customers. Absent these operational headaches, the manufacturing giant estimates it would have been able to ship another $200 million to $300 million

By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The traffic to the cancellation page for Spotify Premium has jumped in recent weeks as the audio streaming company faces a wave of backlash over its support for podcaster Joe

By Brian Stelter, CNN Business Discovery and AT&T received a long-awaited green light from the Justice Department on Wednesday, driving the two companies closer to completing Discovery’s takeover of WarnerMedia. AT&T is planning to spin off CNN and the rest of WarnerMedia in the coming months, at which point Discovery will merge with WarnerMedia, creating

By Rob North and Chris Liakos Maersk has a front-row seat to global supply chains. It says more trouble is ahead. The supply chain issues that have walloped the global economy and spurred inflation during the coronavirus pandemic are not getting much better, Maersk CEO Søren Skou told CNN Business on Wednesday. “Right now the

By Christine Romans, CNN Business There’s an uninvited guest coming to your Super Bowl party this year: inflation. Last year’s shindig may have been a casualty of Covid hibernation. This year, with mass vaccinations and more widespread testing, such a get-together is finally possible. And with it comes a grocery bill that reflects the surging

By Kathryn Vasel, CNN Business Job listings can be extremely detailed, with long lists of responsibilities and required skills, descriptions of company culture and perks, and numerous other reasons for why you might want to work there. But there’s often one glaring omission: the pay. Only about 12% of postings from US online job sites