CNN – Business/Consumer

By Chris Isidore, CNN Business Tesla just became the sixth company in US history to be worth $1 trillion. Shares popped more than 12% Monday to close at about $1,025, boosted by two spots of good news: Hertz announced a record order of 100,000 Teslas for its fleet, and influential Morgan Stanley auto analyst Adam

By Paul R. La Monica, CNN Business Wall Street is brushing off concerns about Facebook. The Dow and S&P 500 both closed at record highs Monday — while Tesla shares soared to a new all-time peak above $1,000 and sent the company’s market share past the $1 trillion level. The Dow ended the day up

By Jordan Valinsky, CNN Business The FBI is revealing new details about a $31.8 million counterfeit coupon scheme that landed a Virginia Beach couple in prison for nearly 20 years, combined. In a press release last week, the agency said that investigators found fake coupons in “every crevice” of the house belonging to Lori Ann

By Matt Egan, CNN Business Extreme port congestion has become a major nuisance that just won’t go away this year. Unfortunately, it could be one of the biggest problems of 2022, too. Backlogs and elevated shipping costs are likely to persist “at least” through the middle of next year, Goldman Sachs warned clients in a

By Matt Egan, CNN Business The oil rally hit another milestone Monday, with crude topping $85 a barrel for the first time in seven years. US oil jumped another 1.2% to trade as high as $85.07 a barrel. It’s the first intraday trade above $85 since October 2014. The rebound has intensified in recent weeks

By Chris Isidore, CNN Business Hertz is betting big on electric vehicles. It’s buying 100,000 Teslas, the largest-ever order by a single buyer. The purchase also represents the biggest move into EVs by a rental car company, by far. “Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and

By Ramishah Maruf, CNN Business As more of Facebook’s internal documents are revealed, Facebook Oversight Board member and PEN America CEO Suzanne Nossel emphasized that the platform must do a better job with transparency. The Oversight Board’s first report, released last week, revealed that the group of independent content moderators prompted Facebook to restore more

By Diksha Madhok, CNN Business The parody cryptocurrency shiba inu coin just climbed to an all-time high and is one of the biggest digital currencies by market value. Shiba coin — which appears to be inspired by dogecoin, itself a meme currency — is up more than 40% over the last seven days, according to

By Helen Regan, CNN Business China plans to cut its reliance on fossil fuels to below 20% by 2060, according to a cabinet document published in state media Sunday. While the document detailed new measures on how the world’s biggest polluter will decarbonize, the country is not updating its pledge to reduce emissions. The guidelines