CNN — Consumer resilience has helped keep the economy strong during the Federal Reserve’s rate-hiking cycle. But will this strength continue or will it fade away? It depends where you look. From Beyoncé’s “Renaissance” tour to the “Barbenheimer” trend to Taylor Swift’s “Eras” shows, US consumers have increased their spending power despite the slowdown in … Read more
Editor’s note: A version of this article first appeared in the Reliable Sources newsletter. Sign up here for the daily overview of the evolving media landscape. CNN — Hollywood is still stuck in a state of fear. As the writers’ strike approaches the 100-day mark this week, there is still no end in sight to … Read more
CNN — It’s the tale of two movies and one box office success: “Barbie” and “Oppenheimer” maintained their incredible momentum into their second weekends. “Barbie” featured multiple roles this weekend, with “Barbie” impressing with a domestic gross of $93 million and “Barbie” grossing around $122 million overseas, making it the #1 release worldwide was. For … Read more
A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. CNN — Stocks and consumer sentiment are rising in tandem after falling last year, another sign of growing … Read more
Washington, D.C CNN — Some Federal Reserve officials are already arguing for two consecutive rate hikes starting this month in a bid to curb inflation. But will their influence endure despite a reshuffle in the Fed’s interest rate committee? Probably. St. Louis Fed President James Bullard, the Fed’s toughest voice, announced on Thursday that he … Read more
Chibougamau, Quebec CNN — When the Silver State Hotshot crew arrived from Nevada a few weeks ago, Canada’s wildfires had already burned millions of acres and broken all-time fire records. So everyone already knew what they were dealing with. “For us in the states, this would be one of the biggest fires of all time… … Read more
CNN — It’s age-old questions: How much does it take to feel financially secure? How much would you need to feel rich? According to a new Bankrate survey, more than 2,500 US adults said they needed to earn an average of $233,000 a year to feel financially secure and $483,000 a year to feel wealthy … Read more
CNN — Wall Street bankers, investors and economists have been puzzling for months whether a recession is imminent in the US. But for some Americans, the relentless economic pain that typifies a recession has already set in. Al Brown and his fiancée faced a tough question when reviewing their weekly budget in May: Which is … Read more
CNN — New York City has been cleared to introduce congestion pricing, a practice that allows the city to charge drivers going to Lower Manhattan, New York Gov. Kathy Hochul announced Monday. The decision paves the way for the city to start the program as early as next spring. CNN has reached out to the … Read more
Washington, D.C CNN — The Federal Reserve has two goals: to keep inflation under control and to maximize employment. Mike Pence, who served as Donald Trump’s vice president and is fighting for leadership of the White House, is campaigning for the Fed’s employment mandate to be scrapped. Some economists say it wouldn’t be a bad … Read more