Money

By Matt Egan, CNN Business State Street, one of the world’s largest asset managers, is shutting down its two midtown Manhattan offices as the Wall Street firm embraces a hybrid working model. The move by State Street, the company behind the “Fearless Girl” statue outside the New York Stock Exchange, underscores the pressure facing the

By Danielle Wiener-Bronner, CNN Business Earlier this summer, Nadav Mille found himself on an emergency pita run. Mille and his wife own a small catering company in Craftsbury, Vermont called Chef Nadav LLC, which sells Mediterranean cuisine among other food. Typically, he orders items like pitas weeks ahead of time from food distributor Sysco. But

By Jordan Valinsky, CNN Business A Honus Wagner baseball card, the most famous and among the rarest sports trading cards in the world, sold at auction Monday morning for a record $6.6 million. That blew away the previous record — a 1952 Topps Mickey Mantle card, which auctioned earlier this year for $5.2 million. An

By Alexis Benveniste, CNN Business As the Covid-19 Delta variant continues to spread, companies are warning that they expect pandemic fears to harm their businesses. The hospitality and entertainment industries, in particular, are feeling the pain. Although economists don’t expect a repeat of the kind of shutdowns that gutted industries in 2020, the risks posed

By Jackie Wattles, CNN Business Blue Origin filed a federal lawsuit Friday to challenge a NASA moon landing contract awarded solely to rival company SpaceX, upping the ante in an already tense standoff over the multibillion-dollar lunar lander program. The protective order was first publicly posted Monday. Details of the lawsuit are not publicly available

By Frank Pallotta, CNN Business “Free Guy,” an action comedy from Disney’s 20th Century Studios starring Ryan Reynolds, opened to an estimated $28.4 million at the North American box office this weekend. That number was a bit of surprise: Industry experts predicted the film would make closer to $20 million in the region. “Free Guy”

By Anneken Tappe, CNN Business ESG investing — funds that are conscious of companies’ actions on the environment, society and governance — is an increasingly popular trend for people concerned about how their money is being used. It sounds great, but it’s complicated. The ESG label is meant to make investing green easier by giving

By Chris Isidore and Peter Valdes-Dapena, CNN Business Federal safety regulators are investigating at least 11 accidents involving Tesla cars using Autopilot or other self-driving features that crashed into emergency vehicles when coming upon the scene of an earlier crash. The National Highway Transportation Safety Administration said seven of these accidents resulted 17 injuries and

By Paul R. La Monica, CNN Business If you’ve ever tried to separate a Roblox-playing tween from their smartphone, you know how addictive the game can be. Roblox, the gaming platform that’s super popular with young kids (and investors), released financial results Monday afternoon. The company’s second-quarter revenue missed forecasts. The stock was flat after

Opinion by Dan Schulman, Robert F. Smith and Rich Lesser for CNN Business Perspectives Amid the national reckoning over racial inequality, corporations and foundations across the country have pledged roughly $11 billion to support causes that promote racial equity. Yet to date, only about half of that promised amount — roughly $5.8 billion — appears

By Julia Horowitz, CNN Business It’s a tough moment to predict the future of the travel industry. Just look at Airbnb’s stock. What’s happening: The company had a huge second quarter, with revenue soaring nearly 300% as spring and summer bookings jumped. But shares remain almost 30% below the all-time high they hit in February.

By Hanna Ziady, CNN Business Hyatt is expanding its reach in luxury resorts, betting that pent-up demand following the pandemic will boost demand for upmarket leisure travel. The US hotel group said in a statement Sunday that it has agreed to buy luxury resorts operator Apple Leisure Group from private equity firms KKR and KSL