CNN – Business/Consumer

By Paul R. La Monica, CNN Business Worries about inflation are yesterday’s news. Investors suddenly have renewed fears about another spike in Covid-19 cases — and what that means for the global economy’s still fragile recovery. Just look at the bond market. Nervous traders are buying US 10-year Treasuries hand over fist, pushing their yields

By Hanna Ziady, CNN Business The European Commission has fined Volkswagen Group and BMW $1 billion for colluding with Daimler to hold back the development of technology that could have reduced harmful emissions from their vehicles. In a statement on Thursday, the Commission said the three German carmakers, along with Volkswagen subsidiaries Audi and Porsche,

By Hanna Ziady, CNN Business The coronavirus pandemic has destroyed 22 million jobs in wealthy countries, according to the Organization for Economic Cooperation and Development. In a report Wednesday warning of the risk of a rapid rise in long-term joblessness, the Paris-based organization said that employment across OECD countries is not expected to recover to

By Charles Riley, CNN Business The European Central Bank has unveiled a new strategy following an 18-month review that could provide policymakers with justification to continue to provide stimulus for years to come. The central bank said in a statement on Thursday that it has abandoned its old policy of targeting inflation of “below, but

By Matt Egan, CNN Business Democratic Senator Chris Van Hollen called on US financial regulators to probe the disastrous IPO of Chinese ride-hailing company Didi. “The SEC should thoroughly investigate this incident to see if investors were intentionally misled by Didi’s public disclosures,” Van Hollen told CNN Business in a statement. Didi raised $4.4 billion

By Vanessa Yurkevich, CNN Business Matthew Messer hauls solar panels on the roof of a home in Long Island, New York, hoisting them one by one in the 100-degree June heat. Messer is the owner of New York Solar Maintenance, but these days he’s working right alongside his lead technician seven days a week as

By David Goldman, CNN Business US stocks tumbled Thursday as investors grew fearful that the electric global economic rebound could be slowing. While stocks finished off their lows, Wall Street was still in the red. The Dow closed down 0.8%, or 260 points, while the S&P 500 dropped 0.9%. The Nasdaq Composite fell 0.7%. Oil

By Chris Isidore, CNN Business Maybe America’s key inflation metric, the Consumer Price Index, should be redubbed the Car Price Index. CPI climbed to a 13-year high in May, with prices up 5% compared to a year earlier. But about one third of that increase was due solely to the price of used cars. Used

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. Millions of Marvel fans are about to return to a movie theater for the first time since “social distancing” began. The occasion is Marvel’s “Black Widow,” the most-anticipated movie of

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. CO-PARENT TRAP Bill Gates and Melinda French Gates are giving themselves a two-year trial period to see if they can co-parent their multibillion-dollar charitable foundation baby.

By Matt Egan, CNN Business Kyle Bass, the hedge fund manager and outspoken critic of Beijing, says the timing of China’s crackdown on ride-hailing app Didi is no coincidence. “The Chinese believe deeply in symbolism and numerology,” Bass told CNN Business on Wednesday. “Banning an IPO that just went public in the US — with

By Paul R. La Monica, CNN Business It’s been something of a roller coaster ride for the stock market and economy during the past year because of Covid-19. But now that it’s getting back to business as usual in the United States, companies that own actual roller coasters are enjoying a rapid rebound. Shares of

By Moira Ritter, CNN Business Bloomingdale’s may need to stock up on little brown bags. The luxury department chain announced Wednesday that it will open the first location of its new, smaller, concept store, Bloomie’s, August 26 in Fairfax, Virgina. The new location will be a “highly curated, ever-evolving store concept” offering men’s and women’s

By Allison Morrow, CNN Business Bill Gates and Melinda French Gates are giving themselves a two-year trial period to see if they can co-parent the massive charitable foundation that they have treated as another one of their children. When the couple announced their divorce two months ago, they said they would both stay on as

By Charles Riley, CNN Business Talk about buyer’s remorse. On Tuesday, shares in Didi crashed 20% after Chinese authorities opened an investigation into the ride-hailing giant that raised $4.4 billion last week in a massive IPO in New York. The botched IPO is bad news for investors. It’s also bad for the New York Stock