Money

By Alicia Wallace, CNN Minneapolis (CNN) — US wholesale inflation rose more than expected in July, reversing a yearlong cooling trend, the Bureau of Labor Statistics reported Friday. The Producer Price Index, which tracks the average change in prices that businesses pay to suppliers, rose 0.8% annually. That’s above June’s upwardly revised increase of 0.2%

By Olesya Dmitracova, CNN London (CNN) — Oil prices have soared about 20% since late June but they could go even higher this year if the OPEC+ alliance sticks to its policy of restraining crude production, the International Energy Agency (IEA) said Friday. In April, the Organization of the Petroleum Exporting Countries (OPEC) plus allies

By Nadia Bidarian, CNN (CNN) — California regulators gave approval Thursday to two rival robotaxi companies, Cruise and Waymo, to operate their driverless cars 24/7 across all of San Francisco and charge passengers for their services. The much-anticipated vote, which followed roughly six hours of public comment both for and against driverless taxis, came amid

By Olesya Dmitracova, CNN London (CNN) — The UK economy grew slightly in the three months to June 30, driven by strong rises in manufacturing and consumer and government spending. Gross domestic product increased 0.2% compared with the previous quarter, the Office for National Statistics said Friday, beating economists’ forecasts for zero growth. In the

By Michelle Toh, CNN Hong Kong (CNN) — One of China’s biggest property developers says it has burned through up to $7.6 billion in the first half of the year, compounding the crisis coursing through the country’s embattled real estate sector. Country Garden warned investors in a Hong Kong stock exchange filing Thursday that it

By Kathleen Magramo (CNN) — New Zealand’s government plans to compel large businesses to report the state of their gender pay gaps in a bid to increase equity in the workplace, the country’s Minister for Women Jan Tinetti announced Friday as the ruling Labour party gears up for an election fight. Around 900 businesses with

By Brian Fung and Devan Cole, CNN Washington, DC (CNN) — The Biden administration on Thursday defended its communications with social media giants in court, arguing those channels must stay open so that the federal government can help protect the public from threats to election security, Covid-19 misinformation and other dangers. The closely watched court

By Jon Passantino and Ramishah Maruf, CNN New York (CNN) — The Writers Guild of America and Hollywood studios have agreed to meet on Friday to resume negotiations for the first time since the writers went on strike in a landmark labor action that has crippled the entertainment industry for more than 100 days. In

By Samantha Delouya, CNN (CNN) — Residents of Maui have suffered widespread devastation as wildfires ravage the Hawaiian island, along with Hawaii’s Big Island. More than 50 people have been killed, homes and businesses have been wiped out, and nearly 11,000 customers are grappling with power outages. The fires, fanned in part by strong winds

By Samantha Murphy Kelly, CNN New York (CNN) — Portable mobile hotspots have arrived in Maui to help bring internet service to the thousands of people who may have been unable to call for help since the wildfires started to rage out of control on the island. Verizon told CNN on Thursday its teams are

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates rose for the third week in a row but stayed just under the 7% threshold. The 30-year fixed-rate mortgage averaged 6.96% in the week ending August 10, up from 6.90% the week before, according to data from Freddie Mac released Thursday. A year ago,

By Darya Tarasova, Tim Lister and Radina Gigova, CNN The founder and former CEO of Russia’s largest internet company, Arkady Volozh, has slammed Vladimir Putin’s “barbaric” war in Ukraine, becoming one of the most prominent Russian businessmen to express criticism of what Russia still calls euphemistically its “special military operation.” “I’ve been asked a lot

By Danielle Wiener-Bronner, CNN New York (CNN) — Grocery prices ticked up 0.3% in July, after staying flat in June, driven largely by rising beef prices. From June to July, adjusted for seasonal swings, the price of uncooked beef roasts spiked 6.5%, according to data released by the Bureau of Labor Statistics Thursday. Uncooked beef

By Parija Kavilanz, CNN New York (CNN) — It’s Barbie’s world and you’re not escaping it. Pink, in all its rosy hues, has seeped into seemingly every aspect of our lifestyle — from shoes, clothing, candles and furniture to burgers, pasta and even Barbie sushi. Just this week, a restaurant in Los Angeles debuted a

By Clare Duffy, CNN New York (CNN) — X CEO Linda Yaccarino, leader of the platform formerly known as Twitter, said the company is keeping an eye on new competitor Threads, despite the sharply slowing growth of the rival app from Meta. “Threads did jump in with a ton of hype and a launch pad

By Nathaniel Meyersohn and Ellie Stevens, CNN New York (CNN) — The catastrophic wildfires in Maui have destroyed homes, churches, businesses and key cultural sites on Hawaii’s second-largest island. At least 36 people have died. The fires also threaten to derail Maui’s economy, just as it was rebounding from the pandemic. Maui’s economy depends heavily

CNN By Nathaniel Meyersohn and Ellie Stevens, CNN New York (CNN) — The catastrophic wildfires in Maui have destroyed homes, churches, businesses and key cultural sites on Hawaii’s second-largest island. At least 36 people have died. The fires also threaten to derail Maui’s economy, just as it was rebounding from the pandemic. Maui’s economy depends

By Matt Egan, CNN New York (CNN) — More Americans are failing to make payments on their credit cards and auto loans, another sign of rising financial pressure on consumers. New credit card and auto loan delinquencies have now surpassed pre-Covid levels, according to a Wednesday report issued by Moody’s Investors Service. The rate of

By Anna Bahney, CNN Washington, DC (CNN) — The latest Consumer Price Index shows that shelter costs contributed 90% of total inflation last month — but there’s a sharp turnaround ahead, say economic researchers at the Federal Reserve Bank of San Francisco. Housing makes up the largest chunk of CPI, and that measurement, known as

By Clare Duffy, CNN New York (CNN) — An author is raising alarms this week after she found new books being sold on Amazon under her name — only she didn’t write them; they appear to have been generated by artificial intelligence. Jane Friedman, who has authored multiple books and consulted about working in the