Money

By Matt Egan, CNN Business The V-shaped recovery in the oil patch continues to take even the biggest bulls on Wall Street by surprise. Goldman Sachs ramped up its already optimistic forecast on Sunday, calling for Brent crude to hit $90 a barrel by the end of the year. That’s up from its previous call

By Clare Duffy, CNN Business Derek Jeter had a problem. In 2020, his third year as chief executive and part-owner of the Miami Marlins, the team broke their long streak of missing the playoffs. But after the team had traded away nearly every big-name player on its roster in recent years, he was looking at

By Julia Horowitz, CNN Business Wall Street could take its cues this week from Washington, which is in the throes of a heated debate over spending on infrastructure, health care and education with the deadline to keep funding the US government just days away. What’s happening: House Speaker Nancy Pelosi is working to rally Democrats

By Matt Egan, CNN Business Business economists are marking down their forecasts for US growth this year as the Delta variant takes a toll on the recovery, according to a survey released Monday. The National Association for Business Economists said the panel of 47 economists it surveyed now expects US GDP growth of 5.6%. Although

By Michelle Toh, CNN Business An electric car company owned by China’s Evergrande is having trouble paying suppliers and has called off plans to sell new shares as the group’s woes spread beyond its core real estate business. Shares in China Evergrande New Energy Vehicle Group fell more than 9% in Hong Kong on Monday

By Charles Riley, CNN Business The UK military is on standby to deliver gasoline to service stations after a shortage of tanker drivers forced some to close last week, triggering a spate of panic buying by British motorists. With thousands of service stations having since run dry, the UK government has announced a series of

By Steven Jiang and Michelle Toh, CNN Business HNA Group Chairman Chen Feng and CEO Tan Xiangdong have been detained by Chinese police, according to the company. In a brief statement on Friday, the embattled conglomerate said that the two executives had been “placed under compulsory measures” by Hainan provincial police for suspected criminal offenses.

By Jessie Yeung, CNN Business Comic and animation fans in China were in for a nasty shock this weekend as authorities turned their crackdown on the entertainment industry to yet another target. The National Radio and Television Administration, the country’s broadcasting authority, announced late Friday that it would ban cartoons and other TV shows primarily

By Nectar Gan, CNN Business For Beijing, the return of Huawei executive Meng Wanzhou to China after a prolonged extradition fight with the United States has been celebrated as a resounding victory. From the moment a government-chartered plane lifted Meng out of Canada — where the CFO spent nearly three years living under house arrest

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “Our country will not survive this.” I watched Donald Trump’s entire “interview” with One America News propagandist Dan Ball, and that’s the quote that stood out the most. Trump was

By Nectar Gan, CNN Business Huawei executive Meng Wanzhou, who spent nearly three years in house arrest in Canada, returned home late Saturday, ending a prolonged extradition fight with the United States and sparking an outburst of national pride in China, where her release has been portrayed as a diplomatic victory for Beijing. Meng, who

By Ramishah Maruf, CNN Business Substack has taken advantage of a new model for the internet, where subscriptions for content are increasingly becoming the norm. The website is the current king of paid newsletters, where writers publish directly to subscribers without the standards of newsroom editors. But as social media sites struggle to monitor misinformation,

By Frank Pallotta, CNN Business “Dear Evan Hansen,” a film based on the beloved Broadway hit musical, opened to a paltry $7.5 million at the North American box office this weekend. Estimates for the Universal Pictures film, which has Ben Platt reprising his role as the titular character, were all over the map. Some analysts