Money

By Julia Horowitz, CNN Business The United States has won international backing for its plan to overhaul the global system for taxing companies, a huge step toward simplifying a complex web of rules long exploited by big corporations. Countries including India, China and Switzerland have agreed to a broad framework for reform set out by

By Anneken Tappe, CNN Business America’s factories are struggling with supply chain issues and material shortages. Now, that’s showing up in prices: in June, Manufacturers reported the biggest price jump in 42 years. The Institute for Supply Management‘s manufacturing price index rose to 92.1% last month, up 4.1 percentage points and hitting its highest mark

By Matt Egan, CNN Business A senior ExxonMobil lobbyist appears to have unwittingly revealed how the oil company uses its political muscle to undercut climate action. “Did we aggressively fight against some of the science? Yes,” Keith McCoy, the Exxon lobbyist, said during a covertly filmed job interview recorded by Greenpeace’s UK investigative platform. “Did

By Alison Kosik, CNN Hertz has officially emerged from bankruptcy after more than a year as a “much stronger company,” thanks to a red-hot rental car market as more Americans travel and the economy reopens. As part of its bankruptcy filing last year, Hertz promised to sell more than 180,000 vehicles from its fleet by

By Oliver Darcy, CNN Business Meghan McCain, the conservative personality who repeatedly ignited controversy and clashed with her colleagues on and off set, announced Thursday that she will leave her role as a co-host on ABC’s “The View.” “I’m just going to rip the bandaid off,” McCain said at the top of the show. “I

By Anneken Tappe, CNN Business Friday’s jobs report was super strong. But don’t be fooled: America’s labor market problems — millions unemployed, worker shortages and worries about child care and health risks — will persist throughout the summer. Even though the US job market is rapidly improving, the economy is still far from back-to-normal. Employers

By Julia Horowitz, CNN Business For years, many of America’s top corporations have viewed annual shareholder votes as either a necessary formality or a nuisance. Now, a wave of activism is forcing them to pay closer attention. What’s happening: Shareholders approved a record number of resolutions in 2021 on issues related to climate and social

By Jordan Valinsky, CNN Business Krispy Kreme’s second appearance on the public markets is off to a sweeter start than expected. The doughnut chain began trading Thursday and opened at $16.30 per share, which is about 4% below its initial public offering at $17. Since then, shares rebounded and closed nearly 25% higher on its

By Paul R. La Monica, CNN Business Clorox was one of the bigger beneficiaries of the Covid economy, as people rushed out to buy bleach, wipes and other disinfecting supplies. The company couldn’t keep wipes on store shelves. But now that nearly 155 million Americans are fully vaccinated and resuming normal activities, consumers aren’t practicing

By Hanna Ziady, CNN Business Gap will close all 81 of its stores in the United Kingdom and Ireland by the end of September and go fully online, as the brand adjusts to changes in shopping habits following the pandemic. The American apparel retailer, which owns Old Navy and Banana Republic, said in a statement

By Michelle Toh, CNN Business Elon Musk is applauding China on a momentous day for the country’s ruling political party. The Tesla and SpaceX CEO lavished praise on the country as it marked a special occasion Thursday: the 100th anniversary of the founding of the Chinese Communist Party. In a Twitter post, Musk wrote that

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. “Thank God for a free press — which is doing the investigating and reporting that Congress should have done way before now,” Asha Rangappa wrote Wednesday. She was talking about