Money

By Anneken Tappe, CNN Business The US economy in the second quarter expanded at a slower rate than expected but still at its fastest pace since last fall, growing at a seasonally adjusted, annualized rate of 6.5%. In terms of real gross domestic product — the broadest measure of economic activity — the economy has

By Julia Horowitz, CNN Business Robinhood makes its Wall Street debut on Thursday. The fast-growing trading app has provided a new generation of everyday investors with access to financial markets, but it’s also highly controversial. What’s happening: The company’s initial public offering priced at $38 a share. On the low end of the expected range,

By Paul R. La Monica, CNN Business Collectors are paying record amounts of money for trading cards of top athletes, including LeBron James, Tom Brady and Mike Trout. They’re also trying to get their hands on all the Pokémon cards they can. Now, online auction giant eBay is looking for an even bigger piece of

By Hanna Ziady, CNN Business Credit Suisse investment bankers allowed Archegos Capital to take “voracious” and “potentially catastrophic” risks that culminated in the US hedge fund’s spectacular collapse in March, costing the bank $5.5 billion and causing chaos on Wall Street, according to an investigation published Thursday. The Swiss bank published a report by law

By Charles Riley, CNN Business The world’s largest food and beverage company is introducing even bigger price hikes as commodity and transportation costs surge. Nestlé, which sells everything from ice cream to coffee and cereal, said on Thursday that it would respond to higher input costs by raising prices in the second half of the

By Ben Westcott, CNN Business Billionaire Sun Dawu, a vocal critic of the Chinese government, was sentenced to 18 years in prison on Wednesday for “picking quarrels and provoking troubles,” according to an official statement posted by the court. Sun was arrested in March this year. His company, Hebei Dawu Agricultural and Animal Husbandry Group,

By Frank Pallotta, CNN Business Disney World and Disneyland, the two crown jewels of Disney’s parks unit, will again require masks indoors. The company announced on Wednesday that it was adapting its health and safety guidelines based on “guidance from health and government officials.” The resorts — which are located in Orlando, Florida and Anaheim,

By Andy Rose, CNN Business Infomercial king Ron Popeil died “suddenly and peacefully” Wednesday at Cedars Sinai Medical Center in Los Angeles, according to a statement provided to CNN by Popeil representative Eric Ortner. He was 86. Popeil started his sales career in Chicago-area flea markets at the age of 16, according to his official

By Matt Egan, CNN Business Robinhood’s highly-anticipated debut on Wall Street is getting off to a rough start. The fast-growing trading company failed to raise as much money as it had hoped. Robinhood’s initial public offering priced at $38 a share, the low end of the expected range. That suggests demand for the controversial company

By Alexis Benveniste, CNN Business Corporate America is getting serious about vaccines. In the last week, companies from Disney to Walmart to Google have begun mandating their employees get shots to protect against Covid-19. Even famed restaurateur Danny Meyer said it’s not just his employees who must be vaccinated: He won’t serve customers in his

By Chris Isidore, CNN Business Ford overcame the effects of the chip shortage to post a narrow profit in the second quarter, and said it expects much better times in the second half of this year. Ford earned net income of $561 million in the quarter, about half of what it earned a year earlier

By Danielle Wiener-Bronner, CNN Business Coffee prices are surging. But that won’t make a difference in how much you spend on a cup of joe at Starbucks. Higher input costs have been prompting companies across industries to charge their customers more. Household furnishings are more expensive. Cereal boxes are shrinking while prices stay the same

By Nathaniel Meyersohn, CNN Business Stores are re-evaluating their mask policies after the US Centers for Disease Control and Prevention updated guidance Tuesday to recommend that fully vaccinated people wear masks indoors in areas with high transmission of Covid-19, which includes nearly two-thirds of all US counties. The CDC’s new guidance was in response to

By Parija Kavilanz, CNN Business You can now add toys to the growing list of products that global supply chain woes have made more expensive to produce. Toymaker Mattel whose brands include Barbie, Hot Wheels, Fisher-Price and American Girl, said in an earnings conference call on Tuesday that it is raising prices in the second

By Anneken Tappe, CNN Business The Federal Reserve left interest rates and monetary policy unchanged on Wednesday, pointing to the nation’s as yet incomplete economic recovery. “The path of the economy continues to depend on the course of the virus,” the central bank said in a statement. While vaccinations are helping to limit the virus