Money Archives

The highs and lows of Bill Cosby’s career

July 5, 2021 6:18 AM CNN

Bill Cosby has been convicted of aggravated indecent assault. The entertainer’s career spans five decades and includes several iconic shows, but much of his legacy has been damaged.

Gas prices are expected to spike. Here’s why

July 1, 2021 7:38 AM CNN

Gas prices are surging this holiday weekend due to a labor shortage with truck drivers. CNN’s Alison Kosik reports.

OPEC drama raises the specter of even higher gas prices

July 2, 2021 4:01 PM CNN Newsource

By Matt Egan, CNN Business OPEC and its allies are mired in a stalemate. American drivers could pay the price. For the second straight day, OPEC+ surprised observers Friday by failing to reach an agreement on whether to add more barrels to an oil market screaming for more supply. The group said it will try

OPEC drama raises the specter of even higher gas prices

July 2, 2021 4:01 PM CNN

By Matt Egan, CNN Business OPEC and its allies are mired in a stalemate. American drivers could pay the price. For the second straight day, OPEC+ surprised observers Friday by failing to reach an agreement on whether to add more barrels to an oil market screaming for more supply. The group said it will try

The blue-chip S&P 500 index is on track to end at a record high for the seventh straight day following the strong jobs report.

The S&P 500 just hit its seventh straight record high

July 2, 2021 3:08 PM CNN Newsource

By Paul R. La Monica, CNN Business It’s lucky sevens for investors: The blue-chip S&P 500 index rose Friday to close at a record high for the seventh straight day following the strong jobs report. The last time the S&P 500 had this long a streak of all-time high closes was in June 1997, when

The US economy added 850,000 jobs in June

July 2, 2021 2:52 PM CNN Newsource

By Anneken Tappe, CNN Business The US economy added 850,000 jobs in June, when adjusted for seasonal changes. It was far more than economists had expected and a signal that American job growth is accelerating. It was the biggest monthly jobs gain since August 2020, when the economy added 1.6 million jobs. The hospitality and

A job seeker arrives at a Job News USA career fair in Louisville

Don’t be fooled by America’s strong jobs numbers. The recovery is far from over

July 2, 2021 2:51 PM CNN Newsource

By Anneken Tappe, CNN Business Friday’s jobs report was super strong. But don’t be fooled: America’s labor market problems — millions unemployed, worker shortages and worries about child care and health risks — will persist throughout the summer. Even though the US job market is rapidly improving, the economy is still far from back-to-normal. Employers

Richard Branson: ‘I would love Jeff Bezos to come and see our flight off’

July 2, 2021 2:46 PM CNN Newsource

By Jackie Wattles, CNN Business Richard Branson, the British billionaire and entrepreneur, announced late Thursday that he would attempt to go to space on July 11, just nine days before the world’s richest man, Jeff Bezos, will make his own spaceflight. But even as he effectively cut ahead of Bezos, Branson dismissed the notion of

Richard Branson: ‘I would love Jeff Bezos to come and see our flight off’

July 2, 2021 2:46 PM CNN Newsource

By Jackie Wattles, CNN Business Richard Branson, the British billionaire and entrepreneur, announced late Thursday that he would attempt to go to space on July 11, just nine days before the world’s richest man, Jeff Bezos, will make his own spaceflight. But even as he effectively cut ahead of Bezos, Branson dismissed the notion of

The Federal Trade Commission charges Broadcom with monopolizing the chip industry. This image shows a Broadcom office on June 03

FTC charges Broadcom with monopolizing chip industry

July 2, 2021 12:59 PM CNN Newsource

By Brian Fung, CNN Business The Federal Trade Commission said Friday it has sued and settled with the technology giant Broadcom over allegations that the company sought to monopolize the supply of semiconductor chips. According to the complaint, Broadcom entered into exclusive anti-competitive deals with its business customers — including television and internet service providers

FTC charges Broadcom with monopolizing chip industry

July 2, 2021 12:59 PM CNN Newsource

By Brian Fung, CNN Business The Federal Trade Commission said Friday it has sued and settled with the technology giant Broadcom over allegations that the company sought to monopolize the supply of semiconductor chips. According to the complaint, Broadcom entered into exclusive anti-competitive deals with its business customers — including television and internet service providers

The S&P 500 just hit its seventh straight record high

July 2, 2021 3:08 PM CNN Newsource

By Paul R. La Monica, CNN Business It’s lucky sevens for investors: The blue-chip S&P 500 index rose Friday to close at a record high for the seventh straight day following the strong jobs report. The last time the S&P 500 had this long a streak of all-time high closes was in June 1997, when

The S&P 500 just hit its seventh straight record high

July 2, 2021 11:30 AM CNN

By Paul R. La Monica, CNN Business It’s lucky sevens for investors: The blue-chip S&P 500 index rose Friday to close at a record high for the seventh straight day following the strong jobs report. The last time the S&P 500 had this long a streak of all-time high closes was in June 1997, when

The US economy added 850,000 jobs in June

July 2, 2021 10:04 AM CNN Newsource

America’s labor market is still far from being back to normal – down 6.8 million jobs compared with February 2020. CNN’s Christine Romans reports.

Didi stock tumbles after China suspends registration of new users

July 2, 2021 9:58 AM CNN Newsource

By Moira Ritter, CNN Business Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. The suspension comes just two days after China’s largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on the NYSE in the biggest US share offering by

A driver opens the Didi Chuxing ride-hailing app on his smartphone in Beijing on July 2.

Didi stock tumbles after China suspends registration of new users

July 2, 2021 9:58 AM CNN Newsource

By Moira Ritter, CNN Business Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. The suspension comes just two days after China’s largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on the NYSE in the biggest US share offering by

Didi stock tumbles after China suspends registration of new users

July 2, 2021 9:58 AM CNN

By Moira Ritter, CNN Business Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. The suspension comes just two days after China’s largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on the NYSE in the biggest US share offering by

China’s Didi makes NYSE debut

July 6, 2021 5:30 AM CNN

Ride-hailer Didi raised $4.4 billion in the IPO, giving it a valuation of more than $67 billion. CNN’s Clare Sebastian reports.

The Didi ride-hailing app on a smartphone arranged in Beijing

China’s Didi makes NYSE debut

July 6, 2021 5:30 AM CNN Newsource

Ride-hailer Didi raised $4.4 billion in the IPO, giving it a valuation of more than $67 billion. CNN’s Clare Sebastian reports.

Tesla sales rise despite problems with chips and China

July 2, 2021 9:38 AM CNN Newsource

By Chris Isidore, CNN Business Tesla managed to sell more than 200,000 vehicles last quarter, even as the company faced rising prices, a PR disaster in China and a shortage of computer chips. The company also managed to build more than 200,000 cars over the past three months despite those enormous headwinds. The increase in