Money

By Chris Isidore, CNN Business One of Elon Musk’s children has petitioned a California court to recognize her new name and gender, saying she no longer wishes to be related to her famous and wealthy father “in any way, shape or form.” Musk’s daughter turned 18 earlier this year and made the filing with a

By Nicole Goodkind, CNN Business US stocks roared back Tuesday in the first day of trading since last week’s selloff. The Dow closed up 641 points, or 2.1%, and was up over 700 points in afternoon trading. The S&P 500 was up 2.5% and the Nasdaq was also 2.5% higher. Last week was the market’s

By Peter Valdes-Dapena, CNN Business General Motors’ electric delivery van subsidiary, BrightDrop, has delivered 150 vans to FedEx, the companies announced Tuesday. This comes after five of the vans were delivered to FedEx last December and it marks BrightDrop’s first sizable delivery of vans. FedEx and GM had previously announced deals for the package delivery

By David Goldman, CNN Business If you’re nervous about the stock market, you’ve got good reason to be: Central banks around the globe are losing the battle against inflation, and their response could plunge the global economy into a recession. Step back: Last week, the Federal Reserve hiked interest rates by three-quarters of a percentage

By Nicole Goodkind, CNN Business Your next 401(k) statement could come with a very worrisome surprise. Retirement plan holders typically receive quarterly statements in the mail that provide an update on how much they have saved and where their investments are allocated. Starting at the end of June, they’ll also be sent a “lifetime income

By Jordan Valinsky, CNN Business Krispy Kreme’s signature glazed doughnuts are now being served in an new way: Creamy ice cream. “Original Glazed Soft Serve Ice Cream” is a new addition to Krispy Kreme’s lineup, made with whole milk and ingredients from the doughnut shop’s “proprietary and secret” signature recipe. Restaurants in 10 US cities

By Matt Egan, CNN The White House has kept the door open to a windfall profit tax on Big Oil but economist Mark Zandi is warning such a move could backfire. “I would not be supportive,” Zandi, the chief economist at Moody’s Analytics, told CNN in a phone interview. “You want energy companies to invest

By Parija Kavilanz, CNN Business Tampons are in short supply and the global supply chain once again is to blame for causing a shortage of a consumer necessity. Stores and manufacturers acknowledged shortages of the product last week, confirming complaints that have been circulating on social media for months. On Monday, on-demand grocery delivery service,

By Kunyi Yang The road to financial independence is not easy, and usually requires patience and diligence early on. For young people still trying to establish their careers, focusing on retirement or saving for the future may not seem like a top priority. But making the wrong money moves early on can be costly. Here

Nadeen Ebrahim Libya was thrust back into the spotlight last week when it announced that it is pumping a million fewer barrels of oil than it did last year. That was big news for oil-consuming nations that are scrambling to look for additional supplies as crude from Russia, the world’s third-biggest producer, comes under Western

By Anna Bahney, CNN Business There is a shift happening in the housing market. After more than a year of soaring demand, exploding home prices and increasing real estate sales, the market finally seems to be cooling off. “The housing market isn’t crashing, but it is experiencing a hangover as it comes down from an