By Anneken Tappe, CNN Business There’s no end in sight for higher prices. US consumer price inflation surged higher again in October, the Bureau of Labor Statistics reported Wednesday. Over the past 12 months, prices climbed 6.2% — the biggest increase since November 1990. Stripping out food and energy prices, which tend to be more
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Opinion by Mark Wolfe for CNN Business Perspectives Last month, several senators called on the Biden administration to take action to lower energy costs. Specifically, they urged the administration to increase supply of natural gas and home heating oil by limiting natural gas exports and releasing inventory from the Strategic Petroleum Reserve (SPR). The senators
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By Julia Horowitz, CNN Business Rivian, the electric vehicle maker backed by Amazon and Ford, made its Wall Street debut on Wednesday, surrounded by mania that befits a market that appears to be defying gravity. What’s happening: The company priced its stock above the expected range at $78 apiece, allowing it to raise an estimated
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By Walé Azeez, CNN Business The biggest players in the automotive industry are refusing to back a commitment to sell only zero-emissions cars and vans by 2040, dealing a blow to hopes for major progress on the climate crisis at COP26. The UN climate summit in Glasgow, chaired by the United Kingdom, wanted governments, manufacturers,
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By Helen Regan and Cape Diamond, CNN American journalist Danny Fenster has been hit with new criminal charges in Myanmar that carry a maximum sentence of life in prison, his lawyer said. Fenster, a 37-year-old from Detroit, Michigan, has been detained in Myanmar for more than five months. He has been denied bail and held
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By Ariel Edwards-Levy and Jennifer Agiesta, CNN Roughly three-quarters of adults believe Facebook is making American society worse, a new CNN poll conducted by SSRS finds, with about half saying they know somebody who was persuaded to believe in a conspiracy theory because of the site’s content. Americans say, 76% to 11%, that Facebook makes
Continue Reading By Ariel Edwards-Levy and Jennifer Agiesta, CNN Roughly three-quarters of adults believe Facebook is making American society worse, a new CNN poll conducted by SSRS finds, with about half saying they know somebody who was persuaded to believe in a conspiracy theory because of the site’s content. Americans say, 76% to 11%, that Facebook makes
Continue Reading By Helen Regan and Cape Diamond, CNN American journalist Danny Fenster has been hit with new criminal charges in Myanmar that carry a maximum sentence of life in prison, his lawyer said. Fenster, a 37-year-old from Detroit, Michigan, has been detained in Myanmar for more than five months. He has been denied bail and held
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By Laura He, CNN Business China’s inflation headache is getting worse. The cost of goods leaving China’s factories surged by another record rate last month, and there are increasing signs that consumers are starting to feel the pain. The Producer Price Index jumped 13.5% in October from a year ago, accelerating from September’s 10.7%, China’s
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By Rhea Mogul and Esha Mitra, CNN A layer of toxic foam coated parts of a sacred river near India’s capital on Wednesday as Hindus gathered on its banks to celebrate a religious festival and some devotees bathed in the waters. The white froth, a mixture of sewage and industrial waste, formed over the last
Continue Reading By Rhea Mogul and Esha Mitra, CNN A layer of toxic foam coated parts of a sacred river near India’s capital on Wednesday as Hindus gathered on its banks to celebrate a religious festival and some devotees bathed in the waters. The white froth, a mixture of sewage and industrial waste, formed over the last
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By Diksha Madhok, CNN Business “The Lord of the Rings” director Peter Jackson is selling most of his visual effects studio Weta Digital to Unity, which makes development software for video games, for $1.6 billion. The cash-and-stock deal will see the American platform acquire Weta Digital’s “tools, pipeline, technology, and engineering talent,” the companies said
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. MSNBC has a talent problem on its hands. Brian Williams told network management on Tuesday that he is passing on their offer of a new contract. He is ending a
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By Brian Stelter, CNN Business Anchorman Brian Williams, a 28-year veteran of NBC News and MSNBC, said Tuesday that he is leaving the company at the end of this year. “This is the end of a chapter and the beginning of another,” Williams said in a statement. “There are many things I want to do,
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By Allison Morrow, CNN Business Editor’s note: Sign up for Royal News, a new weekly newsletter from CNN bringing you the inside track on the royal family, what they are up to in public and what’s happening behind palace walls. Sign up here. Meghan, the Duchess of Sussex, opened up Tuesday about her campaign for
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By Clare Duffy, CNN Business Meta, the company formerly known as Facebook, said Tuesday it plans to limit advertisers’ ability to target users based on certain sensitive categories. Starting next year, it will remove thousands of “Detailed Targeting” keywords to target ads to specific users in categories such as health, race or ethnicity, political affiliation,
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by Sonia Moghe, CNN Oklahoma Supreme Court justices have reversed a district court decision that ordered Johnson & Johnson to pay $465 million to the state for its role in the opioid crisis. In the justices’ decision filed Tuesday, they wrote that the district court “erred” by holding Johnson & Johnson liable under the state’s
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By Nathaniel Meyersohn, CNN Business Shoppers are already taking a hit at the grocery store. Soon, even their cheapest meat options will get more expensive. Tyson Foods, Conagra and Kraft Heinz have notified their retail customers in recent weeks that they will raise prices in January for some frozen and refrigerated meats. Products that will
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By Chris Isidore, CNN Business Kmart is shuttering its last-remaining store in Michigan, the state where the once-proud retail chain launched in 1899. It’s one of series of store closings that will leave the company with only six locations in the continental United States still in business by year’s end. Kmart is owned by Sears,
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By Parija Kavilanz, CNN Business If you’ve already started your online holiday shopping this year, you may be seeing a lot more of those three dreaded words every shopper hates: “out of stock.” There were more than 2 billion instances of a product being out of stock online across 18 categories tracked in October by
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