Money

By Matt Egan, CNN Business Robinhood cashed in on the meme stock craze. Now Robinhood itself is turning into the next plaything for the retail trading crowd. Shares of Robinhood spiked as much as 82% early Wednesday — even though the controversial trading company, which debuted on Wall Street just last week, announced no new

By Chris Isidore, CNN Business General Motors’ earnings fell short of Wall Street forecasts — but the company expects better results in the second half of the year, even with continued chip shortages and rising raw material costs. GM, the nation’s largest automaker, reported Wednesday a record adjusted pre-tax profit of $4.1 billion for the

Opinion by Lakshman Achuthan and Anirvan Banerji for CNN Business Perspectives Despite the continued optimism about the country reopening, US economic growth is already starting to slow. Yes, year-over-year comparisons to the catastrophic conditions in the spring of 2020 have been puffing up recent economic growth data. But it’s important to understand that there’s much

By Matt Egan, CNN Business Vanguard, one of the world’s largest asset managers, is offering employees $1,000 to get vaccinated. The incentive shows how aggressively some companies are moving to encourage workers to get vaccinated as concerns about the Delta variant mount. All of Vanguard’s approximately 16,500 US employees are eligible and must show proof

By Nathaniel Meyersohn, CNN Business CVS will raise its minimum wage for hourly workers from $11 to $15 by next summer, becoming the latest large US chain to pledge a $15 starting rate as companies compete for workers in a tight labor market. The pharmacy giant, which has nearly 300,000 employees, said Wednesday that it

By Julia Horowitz, CNN Business If you’re a company that manages ticket sales for concerts and other live events, it makes sense that after a long 18 months, you’d be getting excited about the future. What’s happening: “Momentum for the return of live has been building every month,” Live Nation CEO Michael Rapino told analysts

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By Manveena Suri, Esha Mitra, Jessie Yeung, Vedika Sud and Rishabh Pratap, CNN Hundreds of people protested in the Indian capital Delhi on Wednesday for the fourth day straight, as outrage continues to build over the alleged rape and murder of a 9-year-old girl from one of India’s most oppressed castes. Protesters marched holding signs

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. There’s no relationship quite like it in politics or media: A pair of brothers, one governing the fourth biggest state in the country, the other hosting one of the most

By Anneken Tappe, CNN Business The chairman of the Securities and Exchange Commission doesn’t have a lot of love for cryptocurrencies. “This asset class is ripe with fraud, scams and abuses in certain applications,” SEC chairman Gary Gensler said during an interview at the virtual Aspen Security Forum. Gensler also said he believes cryptocurrencies are

By Nathaniel Meyersohn, CNN Business Meat producer Tyson Foods’ announcement Tuesday that it will require all its workers to be fully vaccinated against Covid-19 by November 1 is hardly the norm when it comes to vaccine rules for frontline employees. Most company mandates so far have been for corporate workers. It points to a divide

By Chris Isidore, CNN Business Embattled truck maker Nikola says its legal woes are done, but now it has a new problem: the computer chip shortage that’s crippling the entire industry. Nikola had been telling investors that it planned to start delivery of 50 to 100 of its hydrogen-powered and electric trucks in the fourth

By Kathryn Vasel, CNN Business Microsoft is joining the growing list of companies that are requiring workers to get vaccinated. The tech firm said Tuesday that employees, vendors and guests entering Microsoft’s buildings in the US will be required to show proof of vaccination beginning in September. “As we have done since the beginning of

By Alexis Benveniste, CNN Business New York City will require proof of vaccination to enter all restaurants, fitness centers and indoor entertainment venues, Mayor Bill de Blasio announced Tuesday. “If you’re unvaccinated, unfortunately, you will not be able to participate in many things,” de Blasio said. “If you want to participate in our society fully,