Money

By Matt Egan, CNN Business US Treasury Secretary Janet Yellen told lawmakers on Tuesday the Covid-19 pandemic and the war in Ukraine may continue to add turbulence to the world economy. “There is the potential for continued volatility and unevenness of global growth as countries continue to grapple with the pandemic,” Yellen said during a

By Beth Braverman It can be exciting to think about making a big purchase — like putting a down payment on a house, throwing your dream wedding reception, buying a new car or taking a bucket-list vacation. Less exciting: thinking about how to save up for it. But any major expense requires major planning. Taking

By Frank Pallotta, CNN Business The greatest quarterback in NFL history is going to try to become the greatest announcer in NFL history — once he finally retires, that is. Tom Brady, the seven-time Super Bowl champion for the New England Patriots and Tampa Bay Buccaneers, is heading to Fox Sports once his playing career

By Nicole Goodkind, CNN Business The age of meme-stock trading has largely come to an end, and the online trading platform that fueled the surge is scrambling to find alternative sources of revenue. Robinhood benefited greatly from meme investors piling into AMC, GameStop and other heavily shorted stocks last year. Ironically, Robinhood now thinks the

By Julia Horowitz, CNN Business As the recovery from the pandemic took off last year, everything investors touched turned to gold. The US stock market leaped 27%. Bitcoin rocketed to a record high. Commodities like oil and copper soared. Even alternative investments, from trading cards to wine, experienced a boom. Now, the glee of the

By Matt Egan, CNN Business US Chamber of Commerce CEO Suzanne Clark is pushing back against Senator Elizabeth Warren and others who blame high inflation on dominant corporations. “They’re just plain wrong,” Clark told CNN in a rare interview. “We’ve had decades of low inflation. There wasn’t some magic burst of consolidation in the last

By Jordan Valinsky, CNN Business Peloton’s turnaround plan can’t happen fast enough: The at-home fitness company continues to lose money — and it’s quickly running out of cash. The once-hot company reported a dismal quarterly financial report Tuesday, with sales tumbling 15% from a year ago. Peloton lost $757 million last quarter. Peloton said it

By Matt Egan, CNN Business In another blow to the US economy, prices at the pump soared to fresh record highs. The national average price for regular gasoline climbed more than four cents on Tuesday to $4.37 a gallon, according to AAA. That takes out the prior record of $4.33 set on March 11. The

By Anna Cooban, CNN Business Volkswagen Group, the leading global competitor to Tesla, has sold out of electric cars in the United States and Europe this year because of soaring demand and supply constraints. “We are not sold out because we can’t build cars … we are really sold out for electric cars because demand

Opinion by Jeff Tucker for CNN Business Perspectives After 14 straight months of year-over-year home price growth reaching into the double digits, we’re finally starting to see the early signs of a cooling housing market. Don’t worry. A crash isn’t coming. In fact, prices may not even fall. Rather, this will be a much-needed rebalancing

By Jeanne Sahadi, CNN Business A lot is changing fast in the world of crypto, including the tax rules. As with most investments there will be taxes to consider before figuring out how much you really made — or lost — on your digital assets. So if you couldn’t resist getting in on, say, bitcoin’s