Money

Opinion by Stephen G. Cecchetti and Kermit L. Schoenholtz for CNN Business Perspectives In June, US inflation hit a 40-year high of 9% and hasn’t slowed much since. Some people argue that corporate greed is a key driving force behind rising prices. Inflation is high, they say, because firms have greater power to raise prices

By Laura He, CNN Business China’s brutal heatwave is now hurting major players in the auto industry. The rationing of power in Sichuan province — China’s most important hydropower hub — has hit production for major carmakers in Shanghai, including Tesla, according to reports in Chinese state media. Sichuan ordered most factories to close for

By David Culver and Karol Suarez, CNN Sandra Ortiz struggles to talk about her family’s restaurant without breaking down into tears. “They arrived and told us we had five minutes to get everything out,” Ortiz said, recalling her family’s eviction in February. Ortiz, 55, and her four siblings had taken over Tortería Colima from their

By Michelle Toh, CNN Business China’s central bank is cutting its benchmark interest rate for mortgages yet again as it tries to stem a worsening property crisis. The People’s Bank of China announced Monday that it would cut its five-year loan prime rate from 4.45% to 4.3%. It also slashed its one-year loan prime rate

By Mark Thompson, CNN Business The owner of Regal Cinemas confirmed Monday that it was considering filing for bankruptcy but promised “business as usual” at it tries to shore up its finances. British company Cineworld Group said in a statement that a “voluntary Chapter 11 filing in the United States” was one of the options

By Ramishah Maruf, CNN For over 30 years, “Reliable Sources” has covered the role the press plays in societies around the world. In the show’s final episode Sunday, host and CNN’s chief media correspondent Brian Stelter noted how journalists today are increasingly under attack — a worrying trend that poses a real threat to democracy.

By Zoe Sottile, CNN Lemonade thieves, Chipotle is on to you. The burrito chain has released a candle in honor of National Lemonade Day, which fell on Saturday this year, according to a news release. The candle pokes fun at customers’ habit of sneaking some free juice by “accidentally” filling a free water cup with

By Yenny Sanchez, CNN If you ever looked at a dive bar and thought “yum,” then this snack is for you. Miller High Life has partnered with Tipsy Scoop, an alcohol-infused ice cream maker, to create an ice cream flavor that tastes like a dive bar. “To celebrate dive bars and the 100th anniversary of

By Matt McFarland, CNN Business There’s a good chance you aren’t disposing of your AA batteries properly. But you may not be to blame. There’s no shortage of conflicting messages on what to do with your dead alkaline batteries, which include AA, AAA, C, D and 9-volt. Governments and battery makers don’t have consistent and

By Paul R. La Monica, CNN Business Unicorns, the nickname for multi-billion dollar startups looking to go public, are starting to become an endangered species on Wall Street. (Of course, unicorns are also fictitious beasts. But you catch our drift.) The market for initial public offerings, as well as for SPACs — companies debuting through

By Matt McFarland, CNN Business Carmine Cupani wanted to set the record straight. So he asked his young son to stand in the path of his Tesla as it sped through a parking lot. The North Carolina resident set out to refute a widely circulated video of a Tesla with the company’s “full self-driving” beta

By Frank Pallotta, CNN Business In Hollywood, there’s the reboot, the remake and the requel. But now, coming this summer to a theater near you: the re-release. The box office has entered the dog days of summer, in which big ticket sales and new releases are hard to come by. In the meantime, amid the