Money

By Anna Bahney Home building bounced back a bit last month even though demand for new homes among buyers had started to cool off and the cost of building supplies remained high. August housing starts, a measure of new home construction, jumped 12.2% from July, and were down 0.1% from a year ago, according to

By Angela Dewan, CNN Business Rich economies should hit oil and gas companies with new windfall taxes to provide help for countries suffering from climate change, and people struggling with soaring energy and food bills, UN Secretary General António Guterres said Tuesday. The UN chief accused energy giants of “feasting on hundreds of billions of

By Matt McFarland, CNN Business Gabe Klein, who has led transportation departments in Washington, DC and Chicago, will head the Biden administration’s $7.5 billion program to build out the country’s electric vehicle charging network. Klein will serve as executive director of the Joint Office of Energy and Transportation, which was established by the bipartisan infrastructure

By Chris Isidore, CNN Business The still-clogged global supply chain continues to wreak havoc on the auto industry. Ford said late Monday it will end September with between 40,000 and 45,000 large pickups and SUVs that it can’t finish because it doesn’t have all the parts. Negotiations on various supplies, which Ford did not identify,

By Julia Horowitz, CNN Business For years, the climate for hedge funds was tough. Volatility was low. The price of everything was going up. It wasn’t that hard to make money. In that type of environment, why think outside the box? But as central banks continue with their aggressive campaign of interest rate hikes aimed

By Chris Isidore and Matt McFarland, CNN Business The fact that there is not a freight railroad strike happening this week is a huge win for the US economy and its still struggling supply chain. But that doesn’t mean that the freight railroads are providing good service to their customers. Many of the problems tangling

By Michelle Toh, CNN Business People around the world are searching for ways to shield themselves from the impact of stubbornly high inflation, and the rich are no exception. Nuno Matos, HSBC’s CEO of wealth and personal banking, told CNN Business that global investors were “not being as active as they used to be,” with

By Peter Valdes-Dapena, CNN Business As the big Chrysler 300 sedan, with its trademark large square grille, approaches the end of an 18-year production run, the brand unveiled a special edition model in Detroit last Tuesday night. That model, the Chrysler 300C, comes with a 485-horsepower V8, but it could have had much more power

By Alicia Wallace, CNN Business President Joe Biden expressed optimism about the direction of the US economy Sunday, saying America will be able to rein in historically high inflation and that he’s hoping the Federal Reserve will achieve a “soft landing” by slowing economic growth without going into recession. “I’m telling the American people that

By Julia Horowitz, CNN Business Central banks are faced with the unenviable task of trying to put a lid on decades-high inflation without triggering harsh recessions that could unleash misery around the world. But Robert Shiller, a Nobel Prize-winning economist at Yale University, thinks they have no choice but to hold the line. “If we

By Laura He, CNN Business The future looked promising for Cherry in May last year, when she secured a prestigious internship at a major software firm, while still studying at a university in Wuhan. The company told her that she could start working for them full time, once she graduates. But her situation changed dramatically