CNN – Business/Consumer

By Matt Egan, CNN Business The White House and the Federal Reserve broadly agree: Inflation isn’t here to stay. Red-hot prices will cool off as the US economy reopens. Most economists seem to concur that inflation is “transitory,” as the Fed puts it. Investors aren’t freaking out either about the biggest price hikes since 2008.

By Michelle Toh, CNN Business Chinese state media is urging investors to stay calm following a brutal stock market sell-off this week that has wiped out hundreds of billions of dollars in value. Chinese state-run newspaper Securities Times published a commentary Wednesday acknowledging the “changes in policy for certain industries” after a market rout on

By Matt Egan, CNN Business Regulators are investigating the fact that Robinhood CEO Vlad Tenev is not licensed by FINRA, Wall Street’s powerful self-regulator, the online trading platform announced Tuesday. News of the probe comes more than five months after CNN Business reported that Tenev, the public face of Robinhood, is not registered with FINRA,

By Brian Stelter, CNN Business While viewers of other TV channels heard House Democrats denouncing the “whitewashing” of the January 6 attack, One America News viewers witnessed the whitewashing first-hand. On OAN, Tuesday’s select committee hearing about the insurrection barely happened at all. The channel’s poorly-produced programs avoided the substance of the hearing; slipped in

By Moira Ritter, CNN Business The United States has sold the only physical copy ever made of the Wu-Tang Clan album “Once Upon a Time in Shaolin” after federal authorities seized it from former pharmaceutical executive Martin Shkreli, who was convicted of fraud in 2017. The Justice Department did not disclose who bought the album

By Chris Isidore, CNN Business The last time Tesla reported quarterly earnings this far above Wall Street expectations, in October of 2019, it started the stock on one of the most incredible bull runs ever. Not this time. Shares of Tesla were down 3% in early afternoon trading Tuesday, despite a strong second quarter that

By Nathaniel Meyersohn, CNN Business Walmart will pay for full college tuition and book costs at some schools for its US workers, the latest effort by the largest private employer in the country to sweeten its benefits as it seeks to attract and retain talent in a tight job market. The program includes 10 academic

Opinion by Mark Zandi for CNN Business Perspectives Long-dormant inflation has suddenly come back to life, putting a heavy financial weight on already hard-pressed American families struggling with the economic fallout from the Covid-19 pandemic. But hyperventilated rants about how uncomfortably high inflation is here to stay are misplaced. As the pandemic recedes, so too

By Paul R. La Monica, CNN Business Back in March, people were freaking out about rising long-term interest rates and inflation fears. But now the 10-year US Treasury yield has fallen back again. Does this mean: So much for inflation worries? Maybe higher prices are in fact, to cite Federal Reserve chair Jerome Powell’s favorite

By Chris Isidore and Gregory Wallace, CNN Business The seats are full on most planes, but in some cases, the fuel tanks are not. At several western US airports, there’s not enough jet fuel to meet the increased demand for leisure travel. That could end up causing some flights to be canceled or force airlines

By Jordan Valinsky, CNN Business The labels on Campbell’s soup cans are getting their first redesign in about 50 years. Eagled-eyed customers will notice that the famed red and white design remains, but the Campbell’s logo is receiving a “modernized logo scripture,” which includes eliminating the shadow and a slightly changed font that is based

By Julia Horowitz, CNN Business The economic outlook for rich countries is getting better while developing economies are falling behind. That’s according to the latest forecast from the International Monetary Fund. The organization on Tuesday confirmed its prediction that the global economy will expand by 6% this year. But while growth estimates for countries like

By Julia Horowitz, CNN Business Tesla is making strides in its transformation from scrappy upstart to mature carmaker. And it has the numbers to prove it. What’s happening: The electric vehicle company netted a record $1.1 billion in profit during the second quarter. That’s more than double the $438 million it made in the first

By Matt Egan, CNN Business Home prices are climbing at the fastest pace in history, eclipsing even the boom in the days leading up to the Great Recession. Bidding wars have become common, many are forced to pay all cash and some bids are coming in $1 million over asking. It’s all sparking fears that

By Michelle Toh, CNN Business Chinese tech stocks keep getting slammed with a stunningly massive sell-off that has wiped out hundreds of billions of dollars in market value as investors continue to digest Beijing’s widening crackdown on private enterprise. Meituan closed down 17.7% in Hong Kong on Tuesday, eclipsing Monday’s massive 14% loss — making