Money

By Matt Egan, CNN Business Big Oil is strategically using Facebook to blitz Americans with a steady stream of messages designed to delay the extinction of fossil fuel use, according to new research. Pro-fossil fuel ads were viewed more than 431 million times on Facebook’s US platforms in 2020 alone, a report released Thursday by

By Matt Egan, CNN Business US Bank told employees Wednesday they will no longer be due back in the office early next month because of surging Covid-19 cases. “There are increased caseloads across the globe, and the Delta variant has caused us to adjust our plans,” Andy Cecere, the company’s CEO, wrote in an email

By Anna Bahney, CNN Business This weekend, after the almost year-long ban on evictions expired, Ronald Leonard was terrified of being thrown out of his Daytona Beach, Florida, rental home. But then, on Tuesday evening, he heard the eviction moratorium had been extended again. “I’m the happiest guy in the world,” said Leonard. Like millions

By Peter Valdes-Dapena, CNN Business The New York International Auto Show, which had been scheduled to open to the public in just two weeks, has been canceled due to concerns about the Covid-19 Delta variant and the steps being taken to prevent it. The show was first canceled in the spring of 2020 due to

By Frank Pallotta, CNN Business Disney revealed pricing for its new, highly anticipated Star Wars hotel on Wednesday — and the cost to immerse yourself in a galaxy far, far away for a few days will not come cheap. The Disney World-based hotel Galactic Starcruiser is essentially a cruise ship set in space, with the

By Danielle Wiener-Bronner, CNN Business One of the world’s biggest food capitals just made a bold move when it comes to vaccine mandates -— and it’s one that some restaurant owners say they can get behind, even though it may result in fewer customers. On Tuesday, New York City Mayor Bill de Blasio announced a

By Frank Pallotta, CNN Business After pandemic-fueled delays last year, the Tokyo Olympics have gotten a lot of attention around this summer. Unfortunately for NBC, that attention has not translated to viewership. NBC’s TV audience for the summer Olympics is down a whopping 45% from the Rio games in 2016. Viewership in prime-time is even

By Chauncey Alcorn, CNN Business Robyn “Rihanna” Fenty is officially a billionaire, according to Forbes. The business magazine, which tracks and publishes data on the world’s wealthiest individuals, on Wednesday reported the 33-year-old pop star’s estimated net worth to be $1.7 billion, making her the wealthiest female musician and the second-richest woman in entertainment behind

By Jeanne Sahadi, CNN Business Masks on. Masks off. Masks on … again. New federal guidance last week urged everyone — regardless of vaccination status — to mask up in areas with substantial or high Covid transmission whenever they’re in an indoor public setting. In the absence of legal rules issued by local authorities —

By Matt Egan, CNN Business Robinhood cashed in on the meme stock craze. Now Robinhood itself is turning into the next plaything for the retail trading crowd. Shares of Robinhood spiked as much as 82% early Wednesday — even though the controversial trading company, which debuted on Wall Street just last week, announced no new

By Chris Isidore, CNN Business General Motors’ earnings fell short of Wall Street forecasts — but the company expects better results in the second half of the year, even with continued chip shortages and rising raw material costs. GM, the nation’s largest automaker, reported Wednesday a record adjusted pre-tax profit of $4.1 billion for the

Opinion by Lakshman Achuthan and Anirvan Banerji for CNN Business Perspectives Despite the continued optimism about the country reopening, US economic growth is already starting to slow. Yes, year-over-year comparisons to the catastrophic conditions in the spring of 2020 have been puffing up recent economic growth data. But it’s important to understand that there’s much

By Matt Egan, CNN Business Vanguard, one of the world’s largest asset managers, is offering employees $1,000 to get vaccinated. The incentive shows how aggressively some companies are moving to encourage workers to get vaccinated as concerns about the Delta variant mount. All of Vanguard’s approximately 16,500 US employees are eligible and must show proof

By Nathaniel Meyersohn, CNN Business CVS will raise its minimum wage for hourly workers from $11 to $15 by next summer, becoming the latest large US chain to pledge a $15 starting rate as companies compete for workers in a tight labor market. The pharmacy giant, which has nearly 300,000 employees, said Wednesday that it