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By Jennifer Korn, CNN Business Eviation, the company behind what is supposed to be the world’s first all-electric passenger airplane, has undergone an unexpected change in leadership just before the plane’s projected first flight — and the company and the now-former CEO are offering different takes on the situation. Eviation, an Israel-based company, has said
Continue ReadingBy Anneken Tappe, CNN Business America’s “Great Resignation” has transformed the workforce, leading to higher wages and better conditions for many. It has also left a mark on the nation’s high rate of inflation. But as the “Great Return” beckons for employees who have spent months working from home, their attitude to in-person work, pay
Continue ReadingBy Jordan Valinsky, CNN Business Taco Bell is bringing back a fan-favorite frozen dessert. The Klondike Choco Taco will be added to menus at 20 Taco Bell locations in Los Angeles and Milwaukee. The sweet treat features a waffle cone that’s shaped like a taco, filled with fudge-swirled vanilla ice cream and topped with a
Continue ReadingBy Frank Pallotta, CNN Business The upside-down world of Eleven, Sheriff Jim Hopper and Hawkins, Indiana, is coming to an end. “Stranger Things” — one of Netflix’s biggest franchises and most popular series — will conclude in season 5, the company announced on Thursday. “Seven years ago, we planned out the complete story arc for
Continue ReadingBy Jeanne Sahadi, CNN Business Want help figuring out how to buy a home or pay down debt? Clueless about budgeting? Just want a second opinion on your decision to retire in a few years or start your own business? You might find it helpful to consult a financial coach. You may even have free
Continue ReadingBy Paul R. La Monica, CNN Business A conversation with 98-year old Berkshire Hathaway vice chairman Charlie Munger is never dull. Munger talked about his reasons for investing in China, how he still hates bitcoin and why windowless dormitories aren’t as bad as people make them out to be in a wide-ranging chat at the
Continue ReadingBy Kathryn Vasel It’s a job seekers’ market, and employers are stepping up their benefits in a bid to attract and retain workers. People are walking away from their jobs in droves, with a record number of workers quitting their jobs last year, according to the Labor Department. And with nearly 11 million job openings
Continue ReadingBy Anna Bahney, CNN Business Mortgage rates increased again, rising to a level not seen since summer 2019. The 30-year fixed-rate mortgage averaged 3.92% in the week ending February 17, up from 3.69% the week before, according to Freddie Mac. It has not been this high since May 2019 when it was at 3.99%. Mortgage
Continue ReadingOpinion by Erik Lundh for CNN Business Perspectives Last year was a tough one for American consumers. Prices for just about everything, from eggs to used cars to electricity, crept higher, and by the end of the year were up 7% from a year earlier. Unfortunately, that number went even higher last month, with the
Continue ReadingCNN By Anneken Tappe, CNN Business American consumer confidence slipped again in February, a new report from the Conference Board said Tuesday. The index tracking how Americans are feeling fell to 110.5 this month, a steeper decline than economists had expected and the lowest level since September. The January number was revised down as well.
Continue ReadingBy Hannah Ryan, CNN Business Elon Musk’s implant company Neuralink, which aims to enable brains to connect and communicate with computers, has acknowledged that monkeys died as part of its testing procedures, but denies allegations of animal cruelty. In a blog post on its website, Neuralink addressed the “recent articles” that have “raised questions around
Continue ReadingBy Julia Horowitz, CNN Business Economists and investors have been closely watching climbing producer prices and wages for clues on where inflation is heading. They’re rising, which could add to inflationary pressure in the coming months. But on another front — supply chain backlogs — there are some welcome signs of relief. What’s happening: An
Continue ReadingCNN, HLN By David Goldman, CNN Business Among the many appeals of the massively successful Wordle game is that it has just one solution per day. Every player in the world is trying to guess the same five-letter word. Well, it had only one until Tuesday. The New York Times, which bought Wordle two weeks
Continue ReadingBy Allison Morrow, CNN Business The tale of Zachary Horwitz made headlines this week after he was sentenced to 20 years for bilking investors out of $650 million by peddling bogus licensing deals with HBO and Netflix. Ironically, it is just the kind of juicy swindler story you might binge watch on those platforms: Horwitz,
Continue ReadingCNN, CNN BUSINESS By Rishi Iyengar and Michelle Toh, CNN Business US stocks slid Friday as investors continued to track geopolitical developments in Eastern Europe following Thursday’s steep selloff. The Dow closed down nearly 233 points, or 0.7%. The S&P 500 and Nasdaq Composite ended the day with losses of 0.7% and 1.2%. All three
Continue ReadingBy Matt Egan, CNN Business Economist Larry Summers called on the Federal Reserve Wednesday to take immediate action to catch up to inflation. “There are lots of reasons to suspect the Fed is well behind the curve,” Summers, a former senior official in the Clinton and Obama administrations, said during a virtual event. Summers, who
Continue ReadingBy Chris Isidore, CNN Business Gas in California hit a record high of $4.72 a gallon on average on Wednesday — and experts say a whopping $5 a gallon will likely be the norm there in a matter of months, if not sooner. This isn’t just an issue for West Coasters: Some of the factors
Continue ReadingOpinion by Janneke Ratcliffe for CNN Business Perspectives Millions of Americans are losing out on the chance to reap the benefits of homeownership because of a supply shortage. This shortage is most acute among affordable homes, where low- and moderate-income renters, younger first-time homebuyers, and people of color are losing faith that they will be
Continue ReadingBy Matt Egan, CNN Business Oil prices briefly touched $95 a barrel on Wednesday before backing away as investors try to make sense of the latest developments in the Russia-Ukraine crisis. US crude jumped as much as 3.2% to an intraday peak of $95.01 a barrel as US and NATO officials said they saw no
Continue ReadingBy Clare Duffy, CNN Business Google plans to develop new privacy measures that remove the ability to track users across apps on Android devices, potentially rattling digital advertising-based businesses like Facebook that have already been disrupted by app tracking changes introduced by Apple last year. Google said Wednesday that it is launching a multi-year effort
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