Money

Opinion by Dan Schulman, Robert F. Smith and Rich Lesser for CNN Business Perspectives Amid the national reckoning over racial inequality, corporations and foundations across the country have pledged roughly $11 billion to support causes that promote racial equity. Yet to date, only about half of that promised amount — roughly $5.8 billion — appears

By Julia Horowitz, CNN Business It’s a tough moment to predict the future of the travel industry. Just look at Airbnb’s stock. What’s happening: The company had a huge second quarter, with revenue soaring nearly 300% as spring and summer bookings jumped. But shares remain almost 30% below the all-time high they hit in February.

By Hanna Ziady, CNN Business Hyatt is expanding its reach in luxury resorts, betting that pent-up demand following the pandemic will boost demand for upmarket leisure travel. The US hotel group said in a statement Sunday that it has agreed to buy luxury resorts operator Apple Leisure Group from private equity firms KKR and KSL

By Laura He, CNN Business China’s economic recovery is slowing down — and it’s not just the spread of the Delta variant of Covid-19 that has economists and government officials on alert. Chinese officials on Monday released new data on industrial production, investment and retail sales for July showing signs of weakness in the economy.

By Diksha Madhok, CNN Business In almost 40 years with Tata Consultancy Services, N. Ganapathy Subramaniam and his team hardly ever worked remotely. But when India announced its coronavirus lockdown in March 2020 — the toughest in the world at the time — his company undertook the enormous challenge of enabling hundreds of thousands of

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. With futuristic speed, Afghanistan is being sent back in time, to what is often called a “dark age” of Taliban domination. The Afghan population is bearing witness with digital age

By Alexis Benveniste, CNN Business As Taliban forces seize control in Afghanistan, global news outlets are struggling to stay safe and continue reporting. But local journalists could be at greater risk. The Committee to Protect Journalists has warned that Afghan journalists face extreme dangers amid the Taliban takeover. On Sunday, the militants took control of

By Peter Valdes-Dapena, CNN Business Bugatti announced that it will be making a production version of its concept car called the Bolide, an 1,800-horsepower, 16-cylinder track-only supercar with a top speed of over 300 miles per hour. And this will likely be the last gasoline-powered car the French automaker will build. Bugatti said the Bolide

By Hanna Ziady, CNN Business Are the supply and demand fundamentals that have governed oil markets for decades coming unstuck? In normal times, a surge in demand and rising prices would trigger supply increases. But as the past week has shown, these aren’t normal times. The latest: Just two days after the Biden administration urged

By Michelle Toh, CNN Business Every night before bed, Anushka Sachan whips out her phone to log into an app. “It kind of becomes a habit,” said the 20-year-old Hong Kong University student. “Before sleeping, I’m just like, ‘Okay, check in.’” The platform Sachan is using belongs to a Chinese brand called Shein — pronounced