By Anneken Tappe and Allison Morrow, CNN Business Twenty-one months into the pandemic, America is no longer struggling with an astronomically high unemployment rate. Instead, it’s big problem remains a shortage of workers. That makes it hard for businesses to keep up with rampant demand. Economists worry how long it will take for people on
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By Matt Egan, CNN Business Thousands of flights canceled. Back-to-the-office plans shelved. College football bowl games and Broadway shows called off. Shuttered Apple stores in New York City. Covid is once again causing mayhem in the economy. The disruption is different this time, though. Vaccines and boosters are widely available, symptoms from Omicron appear to
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By Nathaniel Meyersohn, CNN Business Editor’s note: A previous version of this report said Fight for $15 advocate Deatric Edie was currently a manager at a McDonald’s restaurant in Hollywood, Florida, and that she was worried that the restaurant was not prioritizing safety. CNN Business was not able to independently verify that Edie was a
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By Pete Muntean, CNN Business Major US airlines canceled hundreds more flights Sunday, the third day in a row of mass cancellations and delays over Christmas weekend, as staff and crew call out sick amid the Omicron surge. More than 1,200 US flights were canceled and more than 5,000 were delayed Sunday, according to FlightAware.
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By Chris Isidore, CNN Business The blast at a Texas oil refinery early Thursday will probably push already high gasoline prices even higher — although not immediately. The blast and resulting fire at the ExxonMobil plant in the Houston-area city of Baytown, Texas, injured at least four workers. The accident could hamper output at one
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By Anneken Tappe, CNN Business Prices remain high in America, and inflation shows no sign of slowing down anytime soon. A key measure of US inflation rose 5.7% in the 12 months ended in November, the Bureau of Economic Analysis said Thursday. It was the fastest increase in the consumer spending price index since July
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Opinion by Davis Smith for CNN Business Perspectives When I was 4 years old, my family left the United States and moved to Latin America, where I spent my childhood and much of my adult life. My father always had a new outdoor adventure planned, whether fishing for piranha on a self-made raft in the
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By Charles Riley, CNN Business Electric cars are taking over the streets, big companies are trying to be nicer to the environment and people are taking action to stop climate change. But here’s a reality check: The world could consume more oil in 2022 than ever before. Global energy demand rebounded strongly this year as
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By Teele Rebane, CNN Business Intel has apologized in China following a backlash over a directive to suppliers not to source products or labor from the Xinjiang region. The US chipmaker told suppliers in a letter dated December 2021 that it “is required to ensure our supply chain does not use any labor or source
Continue Reading By Diksha Madhok, CNN Business India’s stock market celebrated an extraordinary year as some of the country’s buzziest tech firms made their public debuts. And while one high-profile blunder cast a chill over the festivities, that’s probably not enough to stop the excitement in 2022. By December, more than $15 billion had been raised in
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By Paul R. La Monica, CNN Business The year’s last day of trading is shaping up to be a quiet one. Stocks were down just slightly Friday morning. But 2021 was still a banner year for Wall Street. The Dow fell about 65 points in late morning trading Friday, or 0.2%. It is up 19%
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By Anna Bahney, CNN Business Home sales in November were up from the prior month as buyers rushed to take advantage of low interest rates, keeping 2021 on track for the strongest year since 2006. Prices continued double digit annual jumps as inventory remained at historic lows. The affordability challenge of buying a home pushed
Continue Reading By Paul R. La Monica, CNN Business Despite the Omicron variant of Covid-19, some travel restrictions and event cancellations, it seems many Americans are still getting ready to go away for the holidays — and planning much-needed vacations for 2022. That’s been great news for the beleaguered travel sector. Shares of cruise line operators Carnival
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By Paul R. La Monica, CNN Business Despite the Omicron variant of Covid-19, some travel restrictions and event cancellations, it seems many Americans are still getting ready to go away for the holidays — and planning much-needed vacations for 2022. That’s been great news for the beleaguered travel sector. Shares of cruise line operators Carnival
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By Richard Davis, CNN Business In a series of tweets late Tuesday, Bill Gates says he plans to cancel most of his holiday plans and warned that that the United States “could be entering the worst part of the pandemic.” Asserting that the Omicron variant is spreading faster than any virus in history, the billionaire
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By Anneken Tappe, CNN Business Americans are feeling more optimistic about the recovery, which has continued to go strong into the final month of the year. And this is good news for the New Year as well. A measure of consumer confidence has risen to 115.8 points in December, more than economists had predicted and
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By Jordan Valinsky, CNN Business Taco Bell is adding a new menu item that fans might not associate with the taco chain — and it’s only available for a week. The fast food restaurant is adding crispy chicken wings beginning January 6 for a limited time at its US locations. Taco Bell said each order
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By Chris Isidore, CNN Business Get ready for booster mandates. Millions of US workers are already required to show proof of a Covid vaccine to their employer. Soon many could be forced to show proof that they also got a booster shot. With the rise of the Omicron variant of Covid-19, public health officials are
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By Oliver Darcy, CNN Business Dr. Anthony Fauci on Tuesday said that Fox News host Jesse Watters should be fired for using violent language at a conservative conference to encourage attendees to conduct an ambush interview with him in hopes of creating a viral moment. “I mean, that’s crazy,” Fauci added. “The guy should be
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By Anna Cooban, CNN Business Lissette Monzon still feels a little guilty about a “crazy” purchase she made three years ago. Monzon, 54, a high school English teacher in Florida, bought a $700 pair of Valentino boots in October 2018. Actress Blake Lively had been photographed wearing the mauve-colored footwear in Paris. Monzon saw the
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