The Dow falls 880 points as inflation hits 40-year high
By Nicole Goodkind, CNN Business It’s been yet another week of losses for US markets after steep drops on Friday. The Dow plunged after a key…
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GM and Lockheed are expanding their moon buggy into a whole lunar lineup
By Peter Valdes-Dapena, CNN Business General Motors and Lockheed announced last year they were teaming up to work on a new lunar rover that would…
Continue ReadingGM and Lockheed are expanding their moon buggy into a whole lunar lineup
By Peter Valdes-Dapena, CNN Business General Motors and Lockheed announced last year they were teaming up to work on a new lunar rover that would…
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One way to reduce the hit of higher mortgage rates
By Anna Bahney, CNN Business Mortgage rates have risen faster this year than they have in decades. The average 30-year fixed-rate mortgage has been…
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Biden ally pushes Big Oil surtax to eliminate ‘perverse’ incentives to price gouge
By Matt Egan, CNN Democratic Sen. Ron Wyden is drawing up a surtax on Big Oil that would seek to rein in the industry’s skyrocketing profits at…
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A tampon shortage is the latest nightmare for women
By Allison Morrow, CNN Business Supply chain problems and inflation have hit virtually all consumer goods, but women who menstruate are now facing an…
Continue Reading A tampon shortage is the latest nightmare for women
By Allison Morrow, CNN Business Supply chain problems and inflation have hit virtually all consumer goods, but women who menstruate are now facing an…
Continue Reading‘Jurassic World: Dominion’ looks to roar at the box office with the help of the original cast
By Frank Pallotta, CNN Business An adventure 65 million years in the making comes to a conclusion this weekend when “Jurassic World:…
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Inflation rises at fastest pace in 40 years, pushed up by record gas prices
By Chris Isidore, CNN Business The pain of higher prices continues for US consumers. Record gas prices drove inflation to 8.6% for the 12 months…
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Why the average gas price is at $4.99 a gallon and how high it’ll go
By Chris Isidore, CNN Business Next stop, $5. The US average for the price of a gallon of regular gas hit $4.99 according to the most recent reading…
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Consumer sentiment plunges to record low amid surging inflation
By Alicia Wallace, CNN Business Consumer sentiment slumped to a record low between May and June, according to preliminary survey data released by the…
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Tech wreck: Goldman Sachs cuts Netflix, Roblox and eBay to ‘sell’
By Paul R. La Monica, CNN Business Tech stocks have been obliterated this year. The Nasdaq is down more than 26%, putting that index in a bear…
Continue Reading Pay attention to this number in today’s US inflation report
By Julia Horowitz, CNN Business The latest data on consumer prices in the United States showed that annual inflation unexpectedly rose to a 40-year…
Continue Reading Pay attention to this number in today’s US inflation report
By Julia Horowitz, CNN Business The latest data on consumer prices in the United States showed that annual inflation unexpectedly rose to a 40-year…
Continue ReadingThe Washington Post fires reporter Felicia Sonmez after a week of feuding publicly with her colleagues
By Oliver Darcy, CNN Business The Washington Post on Thursday fired Felicia Sonmez, the reporter who has been extraordinarily critical of her…
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Federal investigators expand probe into Tesla Autopilot crashes
By Gregory Wallace Federal investigators are expanding their probe of Teslas that have slammed into parked first responders’ vehicles. The…
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Stitch Fix is laying off 15% of its salaried roles
By Nathaniel Meyersohn, CNN Business Online clothing retailer Stitch Fix will lay off 15% of its salaried staff — around 330 employees — amid…
Continue ReadingJudge dismisses sexual assault lawsuit against former ‘Good Morning America’ boss Michael Corn
By Oliver Darcy, CNN Business A New York State judge on Wednesday dismissed a lawsuit filed last year against Michael Corn, the former “Good…
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Opinion: Inflation is painfully high, but it should ease soon
Opinion by Mark Zandi for CNN Business Perspectives Consumer inflation figures for May will be out Friday, and the report is sure to be disquieting.…
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Americans lost half a trillion dollars in wealth in early 2022
By Tami Luhby, CNN Americans’ wealth took a nosedive early this year as the stock market plummeted. The net worth of households and nonprofit…
Continue Reading Americans lost half a trillion dollars in wealth in early 2022
By Tami Luhby, CNN Americans’ wealth took a nosedive early this year as the stock market plummeted. The net worth of households and nonprofit…
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Credit Suisse CEO blasts ‘really stupid’ takeover rumor
By Paul R. La Monica, CNN Business Most chief executive officers, when asked if their firm is for sale, would give a boring, lawyer-approved response…
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Freeport LNG explosion raises risk of European winter energy crisis
By Anna Cooban, CNN Business A fire at one of the world’s biggest suppliers of liquefied natural gas has thrown Europe’s fragile energy…
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Trump’s Air Force One plan has a paint problem (among many other issues)
By Chris Isidore, CNN Business The two new Air Force One jets currently being built by Boeing are facing costly delays. Now there is a new potential…
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Beware: The companies that hold your crypto aren’t insured the way banks are
By Jeanne Sahadi, CNN Business The latest “crypto winter,” which sent the values of Bitcoin and other digital currencies plummeting,…
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Manhattan median rent hits new high of $4,000 a month
By Anna Bahney, CNN Business Rents keep climbing in Manhattan, hitting a record high in May for the fourth consecutive month. Median rent for an…
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Mortgage rates jump, jacking up monthly payments for new buyers
By Anna Bahney, CNN Business After taking a breather for several weeks, mortgage rates climbed again. The 30-year, fixed-rate mortgage averaged 5.23%…
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220 CEOs demand immediate action from the Senate to reduce gun violence
By Christine Romans, CNN Business More than 200 business leaders, representing employees in all 50 states, sent a joint letter to the Senate on…
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Sheryl Sandberg’s Meta departure is the death knell for Lean In
By Nicole Goodkind, CNN Business The Covid-19 pandemic changed the nature of work in innumerable ways, some of which may not be fully discerned for…
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European Central Bank confirms plans for first rate hike in 11 years
By Anna Cooban and Julia Horowitz, CNN Business The European Central Bank held off on raising interest rates on Thursday, but confirmed plans for a…
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Could stock trading fees make a comeback?
By Julia Horowitz, CNN Business In recent years, brokerages such as Robinhood and Charles Schwab have let users buy and sell stocks online without…
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How Chris Pratt went from ‘Parks and Recreation’ to ‘Jurassic World’
By Frank Pallotta, CNN Business “Jurassic World: Dominion” hits theaters this weekend, and it features one of the most successful movie…
Continue Reading How Chris Pratt went from ‘Parks and Recreation’ to ‘Jurassic World’
By Frank Pallotta, CNN Business “Jurassic World: Dominion” hits theaters this weekend, and it features one of the most successful movie…
Continue ReadingPresident Biden talks gun control with Jimmy Kimmel for his first in-person late night appearance
By Frank Pallotta, CNN Business President Joe Biden made his first in-person appearance on a late night talk show when he stopped by “Jimmy…
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Why gas prices are near $5 a gallon and how high they’ll go
By Chris Isidore, CNN Business Another day, another record for US gas prices. The US average for the price of a gallon of regular gas hit $4.96…
Continue ReadingJanet Yellen: Stimulus spending contributed only modestly to inflation
By Matt Egan, CNN Business Treasury Secretary Janet Yellen on Wednesday defended the Biden administration’s 2021 stimulus package against…
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Wall Street’s top cop proposes massive changes to the stock market
By Allison Morrow, CNN Business The agency that oversees Wall Street has proposed major changes to the way millions of everyday investors buy and…
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Fannie and Freddie unveil plans to tackle the racial homeownership gap
By Anna Bahney, CNN Business Mortgage giants Freddie Mac and Fannie Mae announced Wednesday a series of actions that aim to make it easier to buy a…
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Wall Street’s blank-check boom has gone bust
By Paul R. La Monica, CNN Business The once hot blank-check merger trend is fading fast. The stock market has been cratering so far this year —…
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META alert! Facebook’s old FB stock ticker is no more
By Paul R. La Monica, CNN Business If you want to find the stock price of Mark Zuckerberg’s company, typing the familiar “FB”…
Continue ReadingPresident Biden talks gun control with Jimmy Kimmel for his first in-person late night appearance
By Frank Pallotta, CNN Business President Joe Biden made his first in-person appearance on a late night talk show when he stopped by “Jimmy…
Continue ReadingRising prices are pushing shoppers to dollar stores
By Nathaniel Meyersohn, CNN Business The Great Recession in 2008 pushed struggling Americans to rely more heavily on dollar stores and prompted other…
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Opinion: Black consumers like me want change — not Juneteenth-branded products
Opinion by Lisa Osborne Ross for CNN Business Perspectives During a recent visit to Minneapolis, a colleague and I stopped by Cup Foods, the…
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Exxon’s stock is back from the dead
By Julia Horowitz, CNN Business For years, ExxonMobil struggled to court investors as fears about the climate crisis and criticism of its business…
Continue Reading Exxon’s stock is back from the dead
By Julia Horowitz, CNN Business For years, ExxonMobil struggled to court investors as fears about the climate crisis and criticism of its business…
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An electric car finally makes financial sense
By Peter Valdes-Dapena, CNN Business Gas prices that keep going up by the day have got a lot of people thinking about buying an electric vehicle.…
Continue Reading Opinion: Black consumers like me want change — not Juneteenth-branded products
Opinion by Lisa Osborne Ross for CNN Business Perspectives During a recent visit to Minneapolis, a colleague and I stopped by Cup Foods, the…
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Treasury bans Americans from buying Russian stocks and bonds
By Matt Egan, CNN Business The Biden administration has issued new investment restrictions that prohibit Americans from buying Russian stocks and…
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Buy now, pay later users in the UK are racking up debt to pay off their debts
By Anna Cooban, CNN Business The growing trend of buying things now but paying for them later is creating a debt trap for many shoppers in the United…
Continue ReadingEU lawmakers support banning gasoline car sales by 2035 in key vote
By Angela Dewan, CNN Members of the European Parliament voted Wednesday to ban the sale of new combustion engine cars by 2035, in what would be one…
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