Money

By Nathaniel Meyersohn, CNN Sneakers designed to feel like running barefoot used to be the hottest phenomenon in exercise. Now, the opposite is true. The ugliest, chunkiest sneaker brand is flying off the shelves. Hoka, which started in 2009 in France as a running shoe for hardcore marathoners, is growing rapidly with casual runners, hikers

By Julia Horowitz, CNN One of the main jobs of central banks is to keep prices under control, allowing households and businesses to plan for the future with some certainty on what things will cost. So when inflation started to climb in the aftermath of the pandemic — catching many policymakers off guard — and

By Paul R. La Monica, CNN New year, new attitude on Wall Street. Stocks are off to a strong start in 2023 following last year’s abysmal showing. The Dow gained nearly 3% in January. The S&P 500 rose 6% and the tech-heavy Nasdaq Composite soared almost 11%. That’s the Nasdaq’s best month since July. Stocks

By Matt McFarland, CNN Business Tesla confirmed in a public filing released today that the US Department of Justice has requested documents concerning the company’s controversial driver-assist software systems which Tesla calls Autopilot and “Full Self-Driving.” Tesla said it “has received requests from the DOJ for documents related to Tesla’s Autopilot and FSD features.” Autopilot

By David Goldman, CNN Former President Donald Trump has sued journalist Bob Woodward for copyright violations, claiming Woodward released audio from their interviews without Trump’s consent. The former president has a long history of filing lawsuits that ultimately get tossed out of court. Woodward and the publisher Simon & Schuster said Trump’s case is without

By Paul R. La Monica, CNN Pfizer generated nearly $57 billion in combined sales last year from its Comirnaty Covid-19 vaccine and Paxlovid antiviral pill. That works out to almost 60% of the company’s total revenue for 2022. But the boom appears to be over. Pfizer told Wall Street Tuesday that it expects Covid-related sales

By Alicia Wallace, CNN Consumer confidence in the economy continues to waver, despite easing inflation. The Conference Board’s consumer confidence index — a closely watched metric gauging attitudes about the current and future strength of the economy — measured 107.1 in January, according to data released Tuesday by the business think tank. It was down

By Anna Bahney, CNN US home prices dropped for the fifth month in a row in November, as rising mortgage rates pushed prospective buyers out of the housing market late last year and prices continued to cool, according to the latest S&P CoreLogic Case-Shiller US National Home Price Index, released Tuesday. Last July marked the

By Tami Luhby, CNN Employers continued to raise wages during the fourth quarter to attract workers and hold on to existing staff, though the pace of the increases slowed from the previous quarter. While workers won’t be happy that the pay boosts still aren’t keeping up with inflation, the deceleration will likely please the Federal

By Jordan Valinsky, CNN Ira “Bob” Born, known as the “Father of Peeps,” died on Sunday. He was 98. Just Born Quality Confections, the Pennsylvania-based company that makes various candies, including the chick-shaped marshmallows, confirmed Born’s death in a statement. The company said that Born will be “remembered as a tireless and passionate advocate for

By Chris Isidore, CNN ExxonMobil’s earnings slowed from a peak earlier in the year but the oil giant still reached a full-year record profit more than double what it reported a year ago. The company earned adjusted income of $14 billion in the quarter, down from the record $18.7 billion it earned in the third

By Nicole Goodkind, CNN Oil and gas companies have had two years of skyrocketing growth, but this earnings season could mark the beginning of their descent back down to earth. Wall Street analysts say that Big Oil has passed its peak, but the ride down will be slow — these companies will still bring in

By Chris Isidore, CNN General Motors reported a much stronger than expected fourth-quarter profit, lifting full-year results to record levels for the second straight year. The largest US automaker also said Tuesday it is buying a $650 million equity stake in Lithium Americas, which will give it access to the raw material needed to build

By Chris Isidore, CNN UPS reported a record profit for 2022 as its revenue reached $100 billion for the first time since its founding in 1907. The company said Tuesday it earned $3.2 billion in the fourth quarter, little changed from a year ago and slightly better than analysts surveyed by Refinitiv were expecting. But