Consumer confidence tumbles to lowest in 4 months
Americans are taking more gloomy view of economy as cost of food, rent, clothing and other essentials continue to surge.
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Americans are taking more gloomy view of economy as cost of food, rent, clothing and other essentials continue to surge.
The White House is looking to Congress for help averting a possible railroad strike, while monitoring growing unrest over COVID lockdowns in China. CBS News senior White House correspondent Weijia Jiang joins us to discuss the latest.
The Biden administration is preparing for economic turmoil as protests over COVID-19 restrictions in China and a possible rail strike threaten supply chains during the holiday season. CBS News senior White House correspondent Weijia Jiang reports.
President Joe Biden could face major economic setbacks this holiday shopping season, including a workers strike at Amazon and a nationwide railroad strike that could begin early next month. CBS News correspondent Nancy Cordes reports from Nantucket, Massachusetts, where the president is spending the holiday weekend.
It's estimated more gift buyers are likely to shop on Small Business Saturday than Black Friday this year.
Consumer advocates are cautioning holiday shoppers about hidden risks with these popular loans.
The number of first-time unemployment claims filed last week rose to the highest level since August, with 240,000 new applicants, according to numbers from the U.S. Labor Department. Javier David, managing editor of business and markets for Axios, discusses what the uptick could be saying about the state of the economy.
Consumer spending online is robust, and stores across the U.S. have already implemented holiday discounts. This prompts the question: is Black Friday dead? John Quelch, the dean of the University of Miami Herbert Business School, joins CBS News to discuss.
Up to 10,000 employees are expected to be let go during layoffs at Amazon. The latest team facing cuts are those who work with the company's "Alexa" virtual assistant and similar devices. Eugene Kim, chief tech correspondent at Insider, joins "CBS News Mornings" to explain where it seems Amazon will be refocusing its efforts moving forward.
Number of Americans applying for unemployment benefits rose to a 3-month high amid rise in layoffs.
A strike could come shortly before the busy Christmas holiday.
Concerns are rising of a possible railroad strike after one of the United State's largest unions rejected a deal brokered by the Biden administration. Fears loom over the impact such a strike would have on the country's economy and chain supply. CBS News senior White House correspondent Ed O'Keefe discusses.
Train conductors vote against wage deal with rail companies brokered by the Biden administration.
With Thanksgiving around the corner, CBS News correspondent Janet Shamlian visits a family farm in rural Indiana to report on the impacts of inflation on turkeys.
From the coronavirus pandemic to inflation, Americans have spent the last two-and-a-half years delaying big purchases and even avoiding events due to economic uncertainty. Ted Rossman, senior industry analyst at Bankrate, joins CBS News to discuss a new survey that shows where people are cutting back.
A key member of President Biden's economic team is leaving his administration.
Housing prices have fallen 32% this year, although they remain higher than before the pandemic.
Annual holiday feast is likely to see sharply higher prices for turkey and other traditional food items.
In autumn statement British Chancellor, Jeremy Hunt, admitted the UK was in recession as the government plans to prioritize stability, growth and public services. CBS News Foreign Correspondent, Ramy Inocencio, joins 'CBS News Mornings' with more on the Autumn Statement.
The country's finance minister made the announcement as he unveiled a litany of tax hikes and other measures to help Britain "face into the storm."
"I don't even know these people because they never contacted me," said one homeowner facing $130,000 in debt.
"Prices will be higher, and we will see flights sell out for both holidays," one travel pro said.
Investors were fueled by hopes that cooling prices could influence Federal Reserve ahead of its December meeting.
President Biden along with the leaders of many of the world's biggest economies are attending the two-day G20 summit in Indonesia. The summit, which starts Tuesday, will see presidents and prime ministers discuss the war in Ukraine and tensions between the U.S. and China. Nancy Cordes reports.
"CBS Mornings" co-host Nate Burleson goes to Apple's headquarters in Silicon Valley to spend time with CEO Tim Cook and get an exclusive look at a new iPhone safety feature. The two talk about the newest Apple features, the economy and Cook's future.