Money

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

By Matt Egan, CNN Business Dozens of business leaders, including the CEOs of BlackRock, United Airlines and Macy’s, called on lawmakers Monday to swiftly enact the $1.2 trillion bipartisan infrastructure bill that is stalled in Congress. More than 140 executives signed the public letter to congressional leaders expressing strong support for the bipartisan infrastructure framework,

By Allison Morrow, CNN Business Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. In today’s business news: Yes, your cereal boxes are shrinking; a $30 billion insurance merger gets called off; and Philip Morris wants to ban cigarettes in

By Chris Isidore, CNN Business Tesla reported stronger-than-expected second quarter, with a record net income of $1.1 billion. It was far more than double the $438 million it made in the first quarter, and more than 10 times the net income it reported a year ago. And it answered a major criticism of investors who’ve

By Paul R. La Monica, CNN Business Chip giant Nvidia is the ninth-most valuable company in the S&P 500. With a market capitalization of almost $500 billion, the company is now worth nearly as much as semiconductor rivals Intel, Advanced Micro Devices and Qualcomm — combined. Could Nvidia soon wind up listed on the venerable

By Alexis Benveniste, CNN Business Amazon listed a job opening for a digital currency and blockchain product lead, sending cryptocurrencies soaring Monday. Bitcoin climbed to a six-week high of nearly $39,043, while ethereum reached $2,363. Dogecoin was last trading at about 22 cents per coin, giving it a $28.8 billion market cap. As of Monday

By Chris Isidore, CNN Business A proposed $30 billion insurance industry merger is off, one month after the Justice Department’s antitrust regulators sued to block it. It’s another sign of the tough stance the Biden administration is taking against corporate deal-making. The deal between Aon, which is incorporated in England and Wales, and Ireland-based Willis