Money

By Paul R. La Monica, CNN Business Berkshire Hathaway vice chairman Charlie Munger praised the Chinese government for silencing Alibaba’s Jack Ma in a recent interview, adding that he wishes US financial regulators were more like those in China. “Communists did the right thing,” Munger, the 97-year-old longtime friend of Warren Buffett, said about the

By Matt Egan, CNN Business Robinhood is being ordered to pay about $70 million for harming millions of customers. It’s the largest penalty ever imposed by Wall Street’s self-regulator. The controversial trading app was accused Wednesday by the Financial Industrial Regulatory Authority of “systemic supervisory failures” and hurting investors by giving them “false or misleading

By Anneken Tappe, CNN Business It’s the half-way point of the year and President Joe Biden’s stock market has quite the rally to show for itself: The S&P 500 has already reached the target some analysts set for the entire year. The index, the broadest measure of the US stock market, is up more than

KleinVision’s AirCar reached an altitude of 1500 feet and completed two take-offs and landings during its maiden flight in Slovakia, according to the company.

KleinVision’s AirCar reached an altitude of 1500 feet and completed two take-offs and landings during its maiden flight in Slovakia, according to the company.

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

By Hanna Ziady, CNN Business The collapse in international tourism due to the coronavirus pandemic could cost the global economy as much as $2.4 trillion this year, as the uneven rollout of vaccines devastates developing countries that are highly dependent on overseas visitors. In a report published Wednesday, the United Nations Conference on Trade and

By Jack Guy, CNN Business A prototype flying car has completed a test flight between two cities in Slovakia, spending 35 minutes airborne. Klein Vision’s AirCar flew between Nitra and the capital Bratislava on Monday, according to a press release published Wednesday. The AirCar Prototype 1 is powered by a 160 horsepower BMW engine, and

By Anneken Tappe, CNN Business What labor shortage? America’s private sector employers added 692,000 jobs in June, according to Wednesday’s ADP Employment Report. That exceeded Wall Street analysts’ expectations. While employers complain that they can’t find enough workers, the battered leisure and hospitality industry still registered by far the most job growth at 332,000 new

By Julia Horowitz, CNN Business The Delta coronavirus variant, first detected in India, is now causing cases to surge in the United Kingdom. Health experts are increasingly concerned about its spread in Europe and the United States. But investors have largely brushed off the risks, confident that vaccination campaigns will prevent the need for new

By Michelle Toh, CNN Business Didi went public Wednesday in the biggest US share offering by a Chinese company since Alibaba debuted in 2014. Stock in China’s biggest ride-hailing service started trading in New York at about $16.65, a nearly 20% jump from its initial public offering price of $14 a share. Didi raised $4.4

By Laura He, CNN Business China is in the middle of a huge power crunch as extreme weather, surging demand for energy and strict limits on coal usage deliver a triple blow to the nation’s electricity grid. It’s a problem that could last for months, straining the country’s economic recovery and weighing on global trade.

Host Tucker Carlson made explosive claims against the NSA, but his Fox News colleagues didn’t pick up the story.

By Danielle Wiener-Bronner, CNN Business Starbucks knows that certain off-menu drinks dreamed up by its customers have become popular. So it’s trying out a way to let people order them more easily. The company started a limited test on Tuesday that lets customers order two custom beverages through Facebook or Instagram. Customers who see the