Money

By Moira Ritter, CNN Business There’s no escaping it: Prices are rising across the board, including all the essentials — food, clothing and shelter. American home prices are up 20% over the past year. Prices of food eaten outside the home were up more than 4% in June over the past year, and apparel prices

By Chris Isidore, CNN Business Prices keep rising in the United States, putting a squeeze on American consumers’ wallets. That trend got worse in June. The consumer price index, the nation’s key inflation measure, jumped 0.9% in June, the largest one-month increase in 13 years. Over the last 12 months, prices were up 5.4%, the

By Paul R. La Monica, CNN Business Goldman Sachs, once known as the Vampire Squid of Wall Street, may have gotten a friendlier makeover under CEO David Solomon. But the investment banking giant is still spreading its tentacles into many corners of the market — and making huge sums of money in the process. The

By Chris Isidore, CNN Business Even when Boeing has its best month in years, it has problems. Boeing on Tuesday disclosed a new issue with the 787 Dreamliner widebody jet, which has been dogged with problems since August. The company said some of the planes’ fuselage was not joined together to meet precise standards and

By Julia Horowitz, CNN Business It’s been quite some time since Corporate America saw numbers this good. What’s happening: Earnings season kicks off in earnest on Tuesday, and expectations for corporate profits are extremely high. According to FactSet, S&P 500 companies are due to report year over-year earnings growth of 64% for the second quarter,

By Matt Egan, CNN Business JPMorgan Chase is minting money as the US economy races back from the pandemic. America’s largest bank said Tuesday it hauled in $11.9 billion in profit during the second quarter, up 155% from the same period of 2020. JPMorgan’s bottom-line growth was driven in part by $3 billion of net

By Hanna Ziady, CNN Business The failure by major oil producers to agree on supply increases could elevate fuel prices, stoking inflation and weighing on the recovery from the coronavirus pandemic, the International Energy Agency has warned. The Paris-based organization said in a report on Tuesday that the OPEC+ impasse, which is keeping production capped

By Danielle Wiener-Bronner, CNN Business After the wild success of its chicken sandwich, Popeyes is adding more poultry to its menu with the launch of nuggets. The item will be available starting July 27 to Popeyes customers in the United States, Canada and Puerto Rico. The nuggets will essentially be smaller, bun-less versions of the

By Danielle Wiener-Bronner, CNN Business If you’re a big fan of Coca-Cola Zero Sugar, you may want to brace yourself: The recipe for your beloved drink is changing. Coca-Cola said Tuesday that it is tweaking the beverage in an effort to make the drink taste more like regular Coke. The product’s can will also look

By Laura He, CNN Business Demand for Chinese-made goods is soaring as the world continues to bounce back from the pandemic. That’s helping to calm fears about the recovery in the second largest economy. Exports reached $281 billion last month in US dollar terms, up 32% from a year ago, according to Chinese customs data

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. With scrutiny of Big Tech intensifying every single week, an ambitious new book is measuring Facebook’s missteps and miseries. As the title indicates, it’s not pretty: “An Ugly Truth” is

By Allison Morrow, CNN Business Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Today in business news: ICYMI Richard Branson went to space; many homebuyers are dropping out of the market; and US stocks hit new all-time highs. Let’s

By Paul R. La Monica, CNN Business So much for Wall Street’s bulls selling in May and going away on summer vacation. The Dow hit a new all-time high Monday, led by gains in Disney and big banks Goldman Sachs and JPMorgan Chase. The Dow ended the day up about 126 points, or 0.4%, closing

By Paul R. La Monica, CNN Business Warren Buffett may be one of the richest people on the planet, but even the Oracle of Omaha has to recognize the power of the United States government. Buffett’s Berkshire Hathaway announced Monday it was scrapping plans to buy a big natural gas pipeline for more than $1.7

By Hanna Ziady, CNN Business The aristocratic family behind the Daily Mail is considering taking the tabloid newspaper off the London Stock Exchange, further concentrating UK media ownership in the hands of a few rich men. Daily Mail and General Trust (DMGT) — which owns the Daily Mail, Mail Online, Mail on Sunday and Metro

By Julia Horowitz, CNN Business Billionaire Richard Branson’s successful trip to space has bolstered enthusiasm among investors who see an industry primed for takeoff. What’s happening: The Virgin Galactic founder’s flight over the weekend aboard a spacecraft he helped fund was a landmark moment for the commercial space industry. The up-and-coming sector has for years