Money

By Anneken Tappe, CNN Business Prices rose yet again in May and a key measure of inflation hit new multi-year highs. The price index tracking personal consumption expenditure, or PCE, climbed 3.9% in the year ending May, the Bureau of Economic Analysis reported Friday. It was the highest level since August 2008 and exceeded April’s

By Julia Horowitz, CNN Business “We have a deal.” Those words, from President Joe Biden on infrastructure spending, were enough to trigger a Wall Street celebration. What’s happening: Stocks rallied Thursday as Biden confirmed that Republican and Democratic senators — including Mitt Romney and Joe Manchin — had reached an agreement with White House officials

Late-night host Conan O’Brien says goodbye as he gets ready for his new show on HBO Max.

By Nectar Gan, CNN Editor’s note: CNN has launched the Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. Sign up here. For a large, supposedly all-powerful authoritarian state, a tabloid newspaper with a daily circulation of just 100,000 copies most

By Brian Stelter, CNN Business “We are a media platform and not just a newspaper.” That’s how Los Angeles Times owner Patrick Soon-Shiong summed up the “cultural vision” that he shares with his new editor Kevin Merida. A “media platform” for what? Maybe poetry and comedy, maybe block parties and DJ battles, Merida said: If

By Frank Pallotta, CNN Business After nearly 30 years and a lot of hilariously bizarre moments, Conan O’Brien said goodbye to late night on Thursday night. “Conan,” O’Brien’s long-running TBS show, concluded on Thursday night, bringing an end to a late night TV era. And O’Brien’s late night career came to a close with the

By Danielle Wiener-Bronner, CNN Business As more Americans get vaccinated, states across the country are lifting their pandemic restrictions. That means that one popular relief measure — the allowance of to-go cocktails at restaurants — is either expiring or continuing, depending on where you live. The National Restaurant Association counted about 26 states — most

President Joe Biden announced a bipartisan agreement on the infrastructure deal. CNN’s Ryan Nobles details how the package will be paid for.

By Anneken Tappe, CNN Business Stocks are rallying Thursday after President Joe Biden announced a bipartisan agreement on an infrastructure deal. The S&P 500 and Nasdaq Composite are on track to hit new record highs and the Dow is up about 350 points. “We have a deal,” Biden told reporters Thursday. Even though it is

By Jordan Valinsky, CNN Business Wendy’s is testing a new plant-based burger — but it doesn’t use a meat alternative. Beginning June 28, the fast food chain is selling a new “Spicy Black Bean Burger” in three US cities, including Jacksonville, Pittsburgh and Columbus, Ohio. The sandwich costs $5.79 and will be on menus for

By Anneken Tappe, CNN Business Government statistics aren’t always inclusive and little data is currently collected on the LGBTQ+ community. But that might change as soon as next month. The Census Bureau wants to begin including questions about sexual orientation and gender identity in one of its surveys, according to a Federal Register notice filed

By Nathaniel Meyersohn, CNN Business Victoria’s Secret’s brand image was in tatters, and its owner finally had an escape route. In February 2020, L Brands, the publicly-traded parent of Victoria’s Secret and Bath & Body Works, struck a $525 million deal with private equity firm Sycamore Partners to give up its majority stake in Victoria’s

By Kerry Flynn, CNN Business BuzzFeed, the 15-year-old digital media company known for its lists, quizzes and its Pulitzer Prize-winning journalism, announced Thursday that it plans to go public at an estimated valuation of $1.5 billion. It’s a big deal in the media world, but still somewhat anticlimactic compared to the hype around BuzzFeed just

By Chauncey Alcorn, CNN Business The grand opening for rapper and activist Michael “Killer Mike” Render’s Greenwood banking platform has been postponed a second time, the company confirmed on Wednesday. In March, Greenwood co-founder Ryan Glover told CNN Business that the Black and Latinx-owned digital banking company’s planned early 2021 launch date was pushed back