By Anneken Tappe, CNN Business A key measure of inflation hit a new 30-year high in August, the Bureau of Economic Analysis reported Friday. The price index tracking consumer spending — the PCE price index — was up 4.3% over the 12 months ending in August. That was a faster pace than July’s 4.2%. Inflation
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By Walé Azeez, CNN Business Worker shortages have left UK service stations empty, created gaps on supermarket shelves and are forcing farms to cull pigs. Even the finance industry is starting to suffer. The situation could get much worse this winter if the British government doesn’t relax its Brexit immigration rules, business leaders say. Farmers,
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By Julia Horowitz, CNN Business Congress started the week with an urgent to-do list. It may have crossed off one item, but crucial issues concerning investors still haven’t been resolved. What’s happening: US President Joe Biden signed a stopgap funding bill Thursday night to avert a government shutdown. That’s good news. Yet lawmakers remain bitterly
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By Anneken Tappe, CNN Business Wall Street started the week with a selloff as investors grapple with a wide range of concerns. Stocks opened lower and started tumbling in earnest mid-morning, holding their losses for the rest of the trading session. The Dow closed some 320 points, or 0.9%, lower. At the low point of
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By Hanna Ziady, CNN Business Inflation in Germany hit its highest level in nearly three decades last month, fueled by rising energy costs, supply chain bottlenecks and price hikes following the easing of pandemic lockdowns. German consumer prices increased 4.1% in September compared with a year earlier, the country’s federal statistics office said in a
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By Chris Isidore, CNN Business Employer Covid-19 vaccine mandates have become increasingly common. So has public acceptance, but opposition to some of those rules remains strong. A series of recent survey questions show a clear majority is on board with various groups of workers, such as health care workers, government employees or teachers, being required
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By Michelle Toh, CNN Business OYO has confirmed plans to go public, joining a slew of Indian unicorns to hit the country’s stock exchange this year. The Indian hotel chain, which is run by one of the country’s most ambitious young entrepreneurs and backed by SoftBank, filed Friday for an initial public offering in Mumbai.
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By Matt Egan, CNN Business The United States could be just weeks away from defaulting on its debt for the first time ever. The $28.4 trillion debt limit was reinstated August 1. Since then, Treasury Secretary Janet Yellen has been keeping the nation’s finances afloat by using emergency accounting maneuvers. Known as “extraordinary measures,” these
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By Samantha Murphy Kelly, CNN Business Amazon’s vision for the future of home security includes drones flying over your roof, outdoor cameras that monitor for possible trespassers and cute robots patrolling indoors. During an invite-only press conference on Tuesday, the company showed off an autonomous, 20-pound dog-like robot named Astro with large, cartoon-y eyes on
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By Laura Smith-Spark, CNN Soaring natural gas prices have raised the specter of cold homes and inflated energy bills for millions of people over winter across Europe and the United States, where most people rely on gas-fired boilers for heat and hot water. At the same time, pressure is mounting on world leaders ahead of
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By Sara Spary, CNN Business Large UK companies are required to reveal their gender pay gaps. But the rules are failing to address inequality, according to a new report. The research, by the Global Institute for Women’s Leadership at King’s College London and the Fawcett Society, concludes that the UK’s mandatory gender pay gap reporting,
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By Frank Pallotta, CNN Business Scarlett Johansson vs. Disney is over. On Thursday, the actress and Disney resolved their dispute over the lawsuit that Johansson filed against the company in July. The lawsuit alleged Disney breached her contract by releasing “Black Widow,” a Marvel film starring the actress, on Disney+ on the same day it
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By Rob McLean, CNN Business Neiman Marcus Group is alerting millions of customers that their online accounts may have been breached. The company said in a news release Thursday that it is notifying 4.6 million customers that information associated with their online accounts may have been obtained by a third party in May 2020. That
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By Anneken Tappe, CNN Business Bitcoin is among the most polarizing investments in history. Ask a skeptic, and they’ll tell you it’s a bubble that’s about to pop. Ask a believer, and they’ll tell you it’s a bubble that will keep expanding forever. Mike Novogratz, founder and CEO of crypto fund Galaxy Digital, is among
Continue Reading By Anneken Tappe, CNN Business Bitcoin is among the most polarizing investments in history. Ask a skeptic, and they’ll tell you it’s a bubble that’s about to pop. Ask a believer, and they’ll tell you it’s a bubble that will keep expanding forever. Mike Novogratz, founder and CEO of crypto fund Galaxy Digital, is among
Continue Reading By Anneken Tappe, CNN Business Bitcoin is among the most polarizing investments in history. Ask a skeptic, and they’ll tell you it’s a bubble that’s about to pop. Ask a believer, and they’ll tell you it’s a bubble that will keep expanding forever. Mike Novogratz, founder and CEO of crypto fund Galaxy Digital, is among
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By Anneken Tappe, CNN Business Wall Street logged its worst month of the year in September, and also ended its final trading day of the quarter in the red. Stocks have been extremely choppy in September, as investors grappled with an abundance of issues: high inflation expectations, rising bond yields, the pace of the economic
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By Chris Isidore, CNN Business Employer Covid-19 vaccine mandates have become increasingly common. So has public acceptance, but opposition to some of those rules remains strong. A series of recent survey questions show a clear majority is on board with various groups of workers, such as health care workers, government employees or teachers, being required
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By Chris Isidore, CNN Business Macy’s flagship store on 34th Street in Manhattan — arguably the most nation’s most prominent department store — is under fresh assault from Amazon, which reportedly wants to advertise on the massive billboard adjacent to the store. And Macy’s is fighting back, going to court to argue the company would
Continue Reading By Chris Isidore, CNN Business Macy’s flagship store on 34th Street in Manhattan — arguably the most nation’s most prominent department store — is under fresh assault from Amazon, which reportedly wants to advertise on the massive billboard adjacent to the store. And Macy’s is fighting back, going to court to argue the company would
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