Money

By Matt McFarland, CNN Business Rivian, the electric vehicle maker, plans to begin construction on a second manufacturing plant in 2022 even as it is falling short of its production goals at its existing plant. Rivian announced Thursday that the new $5 billion facility east of Atlanta, Georgia, will be capable of producing up to

By Matt Egan, CNN Business New car prices are skyrocketing at the fastest pace on record. And Senator Elizabeth Warren says a lack of competition in the semiconductor industry is at least partially to blame. The world is in the midst of an epic computer chip shortage, one largely driven by Covid outbreaks and skyrocketing

By Paul R. La Monica, CNN Business Regulators in Washington may crack down on the industry behind “buy now, pay later,” the increasingly popular method for consumers to purchase things online. The Consumer Financial Protection Bureau said Thursday that it is looking to “collect information on the risks and benefits of these fast-growing loans” from

By Peter Valdes-Dapena, CNN Business In early May of 2020, Jim Farley bought $1 million worth of Ford stock, 195,000 shares at a little over $5 a share. It was a surprising move for an executive who normally gets plenty of stock and stock options as part of his compensation to be buying some of

By Jeanne Sahadi, CNN Business A common New Year’s resolution is to be better with money. But you will miss some opportunities if you wait until January 1 to get started. With just a couple of weeks left to go in 2021, there are some deadline-driven financial moves you might want to make before the

Opinion by Vincent Clerc for CNN Business Perspectives Almost everything you buy has traveled along some of the millions of miles of networks that make up the world’s supply chains. Most of the time, the logistics involved in making this possible are invisible and kept behind the scenes. But these days, supply chains are front

By Paul R. La Monica, CNN Business Is the housing market finally losing steam? Home improvement retail giant Lowe’s issued a disappointing sales outlook Wednesday morning. Meanwhile, home builder Lennar reported results Wednesday afternoon that missed forecasts. The company cited supply chain issues and higher lumber costs. Lennar shares fell 4% Thursday. But before you

By Jordan Valinsky, CNN Business Digital orders and drive-thrus are the future of Chipotle. Now, the fast casual chain is designing a restaurant to reflect that. Chipotle is soon opening a new location in Cuyahoga Falls, Ohio that eliminates the dining room and in-person ordering, forcing customers to only order ahead through its app or

By Jordan Valinsky, CNN Business McDonald’s has settled a lawsuit with former CEO Steve Easterbrook, forcing the disgraced executive to repay his severance package of more than $100 million. Easterbrook was fired in 2019 after the fast food giant’s board determined that he violated company policy by demonstrating “poor judgment involving a recent consensual relationship

By Chris Isidore, CNN Business Delta CEO Ed Bastian thinks wearing masks on airplanes is a good idea. The day after Southwest CEO Gary Kelly suggested at a Senate hearing that wearing masks on a plane was not necessary, Bastian said he doesn’t agree. He said masks would be necessary for the foreseeable future. “I

By Jordan Valinsky, CNN Business H&R Block is suing Block, the digital payments company previously known as Square, for trademark infringement. The 65-year-old company said in a press release Thursday that CEO Jack Dorsey’s company “appears to be taking a shortcut to capitalize on the well-known Block moniker.” H&R Block alleged that the change is

By Charles Riley, CNN Business The Bank of England is hiking interest rates in an effort to fight surging prices even as the Omicron variant engulfs the United Kingdom and threatens to put the economy into reverse. The central bank’s Monetary Policy Committee said Thursday that it would raise interest rates from the record low

By Matt Egan, CNN Business Business leaders and former policymakers are sounding the cyber alarm. The JPMorgan International Council on Thursday urged the public and private sector to step up their cybersecurity efforts to combat an increasingly dangerous threat to the economy and national security. The council, which includes JPMorgan CEO Jamie Dimon, Johnson &