A UPS worker sorts packages in New York on Dec. 18, 2017. Adam Jeffery | CNBC Online spending rose 4.9% year over year, setting a record for e-commerce during the holiday season, as shoppers pounced on discounts and leaned on buy now, pay later to cover more of their purchases, according to Adobe Analytics. Sales … Read more
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023. Stringer | Bloomberg | Getty Images Attacks on ships in the Red Sea continue to push ocean freight rates higher, triggering warnings of inflation and delayed goods. To avoid strikes by Iran-backed Houthi militants based … Read more
Cafes de Colombia Expo, the most important specialty coffee fair in Latin America, takes place in Bogota, Colombia on October 20, 2023. Anadolu | Anadolu | Getty Images You might have seen yet another influencer coffee brand launch on social media, have noticed your colleagues making their own drip coffee in the office kitchen rather … Read more
Drew Angerer / Getty Images A year ago, there was little holiday cheer at Affirm. The point-of-sale lender was confronting rising interest rates, recession fears and weakening consumer spending. Affirm shares ended 2022 down 90%, wiping out billions of dollars in market value. Affirm investors are wrapping up 2023 in a much different mood. The … Read more
Grocery items are offered for sale at a supermarket on August 09, 2023 in Chicago, Illinois. Scott Olson | Getty Images When Kyle Connolly looks back at 2023, she sees it as a year defined by changes and challenges. The newly single parent reentered the workforce, only to be laid off from her job at … Read more
Manonallard | E+ | Getty Images For many Americans, it’s the first holiday season when most of the family may know the term “artificial intelligence” if it comes up during Christmas dinner. Just don’t expect AI to do the heavy lifting for Santa quite yet. The rise of generative AI — and the use of … Read more
Microsoft CEO Satya Nadella arrives at federal court in Washington on Oct. 2, 2023. Nathan Howard | Bloomberg | Getty Images LinkedIn has set aside an effort to relocate its data center technology out of its physical facilities and into Microsoft’s Azure cloud, according to people familiar with the matter. The decision not to proceed … Read more
DETROIT — General Motors‘ plans to diversify its business through trendy industries such as ridesharing and other “mobility” ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016. Cruise, its majority-owned autonomous vehicle subsidiary, is increasingly looking like it might be next. The unit has quickly gone … Read more
SECAUCUS, N.J. — Here, shoppers can browse engagement rings, tennis bracelets and pendant necklaces displayed behind glass. Then, they can walk a few yards to grab milk, cereal or socks. Welcome to Walmart. During recent inflation, the world’s largest retailer attracted new and higher-income shoppers with cheaper groceries. Now, it’s trying to cater to that … Read more
Click. Click. Gift. After a two-year slump below its pandemic high, online shopping made a comeback this holiday season. The CNBC All-America Economic Survey finds 57% of Americans naming online shopping as their top one or two destinations for Christmas gifts. In 2006, online shopping accounted for just 18% of responses. It hit an all-time … Read more
