Money

By Anna Bahney, CNN Business A gargantuan residence in Los Angeles dubbed “The One” by its developer is now on track to be sold after the owner defaulted on more than $100 million in loans and debt, according to court documents. In an Instagram post last summer, Nile Niami, the project’s developer, pitched the 105,000-square-foot

By Kerry Flynn, CNN Business A contentious union election that determines the fate of future newsroom organizing came to an end Tuesday night. The results of the election for the Writers Guild of America, East council favored candidates who endorsed future organizing of and support for the digital media industry, prompting digital media workers to

By Clare Sebastian and Pamela Boykoff for CNN Business When the pandemic first hit last year, Brian Wolin was working as a chiropractor, and his brother-in-law, Evan Shulman, ran a business making luxury retail displays for brands, such as Gucci and Chanel. But once the lockdowns began, they both found themselves unable to work. That’s

By Kerry Flynn, CNN Business Live audio app Clubhouse boomed during the early months of the pandemic as people craved social connections and entertainment while spending most of their time isolated and inside. Felecia Wellington Radel joined the app last December and that same day tweeted, “Listening to people talk about Spider-Man for the past

By Nathaniel Meyersohn, CNN Business Shoppers these days may need to take a cue from a Rolling Stones hit when it comes to setting their expectations: You can’t always get what you want. For years, Amazon and the rise of online shopping trained consumers to expect everything from groceries to furniture delivered to their doorsteps

By Julia Horowitz, CNN Business Chevron, the $186 billion US oil giant, is taking steps to diversify its business away from fossil fuels as concerns about the climate crisis grow. What’s happening: This week, the company announced that it will spend $10 billion through 2028 on low-carbon energy sources like renewable diesel fuel and hydrogen,

By Diksha Madhok, CNN Business One of the world’s top gambling hubs may be staring at a dramatic overhaul — and investors are worried. On Tuesday, Macao announced a 45-day public consultation that observers fear will lead to tighter regulations on the lucrative gambling industry in an extension of the recent crackdown on private business

By Chris Isidore, CNN Business Just when car prices looked like they were edging down from their record highs, they’re heading skyward again. It’s Hurricane Ida’s fault. Ida caused widespread flooding from Louisiana, where it came ashore as a hurricane on August 29, to the heavily populated Northeast, where its remnants hit hard a few

By Hanna Ziady, CNN Business UK inflation rose at the fastest rate in at least 24 years in August as the price of transportation, restaurant meals and used cars spiked dramatically. The annual rate of inflation rose by 3.2% in August, up from 2% in the 12 months to July, Britain’s Office for National Statistics

By Laura He, CNN Business China’s dramatic steps to contain the coronavirus this summer have taken a toll on consumer confidence in the country and are fueling concerns about the strength of the world’s second largest economy. Retail sales struggled in August, increasing just 2.5% compared to a year earlier, according to government statistics released

By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Fox is earning some rare praise from the White House after essentially admitting on Tuesday that it will follow the protocols pushed by the Biden administration to limit the spread