Money

By Matt Egan, CNN Business Big Oil is not pleased with the White House’s push this week for more crude from OPEC and its allies. The American Petroleum Institute, the powerful lobby group that represents the US oil and gas industry, is arguing President Joe Biden should be working to boost oil production at home

By Jackie Wattles, CNN Business Boeing revealed Friday that apparent issues with the propulsion system on its Starliner spacecraft — which is designed to carry astronauts and potentially tourists to the International Space Station — are worse than initially anticipated, putting yet another lengthy delay on the horizon. The Starliner is a gumdrop-shaped capsule meant

Lamborghini has unveiled a brand new $2.6 million supercar with a very familiar name: the Countach. The original Lamborghini Countach, unveiled as a concept car at the Geneva Motor Show in 1971, made the Italian automaker world famous. The new Countach, unveiled at an event during Monterey Car Week in California Friday, celebrates the 50th

By Chris Isidore, CNN Business Used car prices may finally be peaking. Prices shot up like a rocket earlier this year, soaring 30% between March and June according to the consumer price index, the federal government’s main inflation barometer. That was by far the steepest three-month increase in those prices, according to government data that

By Parija Kavilanz, CNN Business Sales of reusable face masks, which had started to cool down earlier in the summer, have reversed course as the Delta variant spreads across the United States. Weekly mask sales in dollars had been declining in June and into July, according to Adobe Analytics’ Digital Economy Index, which tracks sales

By Alicia Wallace, CNN Business During a pandemic that upended lives, broke routines, and mothballed most forms of in-person activities, a funny thing happened in the entertainment business: The drive-in theater saved the cinema. But while it might have been dismissed as another anomaly in a year full of unusual economic blips, the renewed interest

By Paul R. La Monica, CNN Business Americans are extremely worried about the Delta variant and the spike in Covid-19 cases. A key survey of consumer confidence plunged in August below where it was in April 2020 when the first Covid-19 outbreak slammed the brakes on the US economy. The University of Michigan said that

By Paul R. La Monica, CNN Business Airbnb had a blockbuster second quarter, with revenue soaring nearly 300% and topping expectations. But it also reported some bad news: The company is worried about the Delta variant’s impact on consumers’ future travel plans. The company benefited from more people taking vacations in the spring and summer,

By Kathryn Vasel, CNN Business For many workers, the office is going to play a different role when they return. Many companies are adopting a hybrid work model, where employees split their time between the office and home. And employees and their managers should expect that it’s going to take some time to adjust to

By Matt Egan, CNN Business A growing number of major companies are exploring vaccine mandates for their employees as the Delta variant continues to spread through America and around the world. The Business Roundtable, a powerful lobbying group chaired by Walmart CEO Doug McMillon, has surveyed member companies on their vaccine requirement plans, a person

By Mark Thompson, CNN Business Discovery has accused Poland of violating an international treaty by introducing new legislation the US company says amounts to an “assault” on media freedom and a direct attack on its business. In a statement on Thursday, Discovery said it had notified the Polish government of its intent to take legal

Opinion by Emily Parker for CNN Business Perspectives Cryptocurrencies, like bitcoin and dogecoin, have dominated the news cycle in recent months. Meanwhile, the rise of another type of digital currency has gotten far less attention: central bank digital currencies (CBDCs). Unlike bitcoin, CBDCs are issued by governments and are basically digital versions of an existing

By Charles Riley, CNN Business Disney shares are up more than 5% in premarket trading after the entertainment giant added more steaming video subscribers than Wall Street expected and reported a strong recovery for its theme park business. But the company still can’t escape the coronavirus pandemic. Disney shares have gained less than 1% this

By Matt Egan, CNN Business Devastating heat. Debilitating droughts. Crippling frost. Extreme weather is creating nightmares for farmers around the world — and making food more expensive for Americans. Arabica coffee futures have almost doubled over the past year to seven-year highs as Brazil grapples with frost conditions that have wiped out crops. Retail coffee

By Diksha Madhok, CNN Business Middle-Earth is moving from New Zealand to the United Kingdom. Amazon Studios announced Thursday that it is moving the filming of the second season of its highly anticipated, and extremely expensive, “Lord of the Rings” series to the United Kingdom. “The shift from New Zealand to the UK aligns with