CNN – Business/Consumer

By Anneken Tappe Stocks staged a rebound Tuesday, rallying across the board as Wall Street bounced back from a sell-off at the start of the week. The Dow closed up 0.9% or 312 points, while the S&P 500 finished 1.1% higher. The Nasdaq Composite closed up 1.3%. In fact, everything went up Tuesday: While stocks

By Walé Azeez, CNN Business The United Kingdom is suffering from fuel shortages, gaps on supermarket shelves, rising inflation and slowing economic growth. Prime Minister Boris Johnson insists he isn’t worried — but should he be? Johnson has in recent days brushed aside concerns about snarled supply chains and price hikes, saying they are consistent

By Paul R. La Monica, CNN Business The whirlwind ride for bitcoin continues. The price of the world’s most valuable cryptocurrency soared above $50,000 Tuesday morning — the highest level in nearly four weeks. Although there was no specific catalyst driving bitcoin’s recent surge, digital asset investment firm CoinShares notes investors have been plowing money

By Matt Egan, CNN Business Oil prices on Tuesday climbed to their highest level in nearly seven years after OPEC and its allies declined to significantly ramp up production. US crude jumped another 1.4% to settle at $78.93 a barrel. For much of the day, it was trading above $79 a barrel, a level unseen

By Jordan Valinsky, CNN Business Grey Poupon is doubling down on its hoity-toity image with a new white wine. It’s introducing La Moutarde Vin, a limited-edition “celebration” of the white wine used in the mustard recipe. The wine, which is intended for “making lunch feel like a feast” according to a press release from Kraft

By Julia Horowitz, CNN Business Facebook is having a terrible few days. But there are reasons investors may not abandon the company for long. What’s happening: Big Tech shares tumbled Monday as concerns about inflation pushed investors to pare back their exposure to the sector. But Facebook — which suffered an hours-long outage across all

By Matt Egan, CNN Business Senator Elizabeth Warren on Monday urged the Securities and Exchange Commission to launch an insider trading investigation into transactions by high-level officials at the Federal Reserve. The Massachusetts Democrat called for the agency to conduct a “sweeping review of all securities trades” by Fed officials to determine if they violated

By Laura He, CNN Business A Chinese developer of luxury apartments missed $315 million in payments to lenders on Monday, sparking fears that financial strains in the country’s outsized property sector are spreading beyond the troubled Evergrande conglomerate. Fantasia Holdings, a Shenzhen-based developer, missed repaying $206 million worth of bonds that matured Monday, the company

By Jeanne Sahadi, CNN Business To say the pandemic has been transformative for business is an understatement. So perhaps it’s not surprising that three of the top 10 women named to Fortune’s 2021 Most Powerful Women list, released Monday, run companies in the health sector or that half of them became CEOs during the Covid

By Anneken Tappe, CNN Business Wall Street started the week with a selloff as investors grapple with a wide range of concerns. Stocks opened lower and started tumbling in earnest mid-morning, holding their losses for the rest of the trading session. The Dow closed some 320 points, or 0.9%, lower. At the low point of

By Chris Isidore, CNN Business Shares of the owner of the pipeline responsible for the oil spill off the coast of Southern California plunged Monday, as the money-losing company could be on the hook for big penalties. Amplify Energy, a small, independent oil company active in oil production and drilling in the area, said that

By Ramishah Maruf, CNN Business The International Consortium of Investigative Journalists (ICIJ) on Sunday released the “Pandora Papers,” an exposé of the financial secrets and offshore dealings of dozens of heads of state, public officials and politicians from 91 countries and territories. More than 600 journalists from 150 outlets spent two years investigating nearly 12

Opinion by Dan Lambe at CNN Business Perspectives Extreme weather made headlines all summer. Hurricane Ida made landfall in the Gulf before causing additional massive flooding and devastation in the Northeast. Wildfire season in the West started earlier than usual, and sweltering heatwaves broke temperature records in some of our nation’s largest cities, like Seattle