By Anneken Tappe, CNN Business American consumer confidence slipped again in February, a new report from the Conference Board said Tuesday. The index tracking how Americans are feeling fell to 110.5 this month, a steeper decline than economists had expected and the lowest level since September. The January number was revised down as well. Inflation
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By Hannah Ryan, CNN Business Elon Musk’s implant company Neuralink, which aims to enable brains to connect and communicate with computers, has acknowledged that monkeys died as part of its testing procedures, but denies allegations of animal cruelty. In a blog post on its website, ​Neuralink addressed the “recent articles” that have “raised questions around
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By Julia Horowitz, CNN Business Economists and investors have been closely watching climbing producer prices and wages for clues on where inflation is heading. They’re rising, which could add to inflationary pressure in the coming months. But on another front — supply chain backlogs — there are some welcome signs of relief. What’s happening: An
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Starting off with the recovery rebate credit.
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By David Goldman, CNN Business Among the many appeals of the massively successful Wordle game is that it has just one solution per day. Every player in the world is trying to guess the same five-letter word. Well, it had only one until Tuesday. The New York Times, which bought Wordle two weeks ago, eliminated
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By Allison Morrow, CNN Business The tale of Zachary Horwitz made headlines this week after he was sentenced to 20 years for bilking investors out of $650 million by peddling bogus licensing deals with HBO and Netflix. Ironically, it is just the kind of juicy swindler story you might binge watch on those platforms: Horwitz,
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By Rishi Iyengar and Michelle Toh, CNN Business US stocks slid Friday as investors continued to track geopolitical developments in Eastern Europe following Thursday’s steep selloff. The Dow closed down nearly 233 points, or 0.7%. The S&P 500 and Nasdaq Composite ended the day with losses of 0.7% and 1.2%. All three indexes finished the
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By Matt Egan, CNN Business Economist Larry Summers called on the Federal Reserve Wednesday to take immediate action to catch up to inflation. “There are lots of reasons to suspect the Fed is well behind the curve,” Summers, a former senior official in the Clinton and Obama administrations, said during a virtual event. Summers, who
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By Chris Isidore, CNN Business Gas in California hit a record high of $4.72 a gallon on average on Wednesday — and experts say a whopping $5 a gallon will likely be the norm there in a matter of months, if not sooner. This isn’t just an issue for West Coasters: Some of the factors
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Opinion by Janneke Ratcliffe for CNN Business Perspectives Millions of Americans are losing out on the chance to reap the benefits of homeownership because of a supply shortage. This shortage is most acute among affordable homes, where low- and moderate-income renters, younger first-time homebuyers, and people of color are losing faith that they will be
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By Matt Egan, CNN Business Oil prices briefly touched $95 a barrel on Wednesday before backing away as investors try to make sense of the latest developments in the Russia-Ukraine crisis. US crude jumped as much as 3.2% to an intraday peak of $95.01 a barrel as US and NATO officials said they saw no
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By Clare Duffy, CNN Business Google plans to develop new privacy measures that remove the ability to track users across apps on Android devices, potentially rattling digital advertising-based businesses like Facebook that have already been disrupted by app tracking changes introduced by Apple last year. Google said Wednesday that it is launching a multi-year effort
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By Paul R. La Monica, CNN Business AMC Entertainment, the theater chain and darling of the meme stock crowd, is hoping to profit as more people stay home to watch movies on streaming networks like Netflix and Disney+. How? In the immortal words of NFL Hall of Famer Terrell Owens: Getcha popcorn ready. AMC announced
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By Rebecca Wright, CNN The International Finance Corporation, one of the world’s leading development banks, has for decades touted its success in funding companies it says can help end extreme poverty in developing countries. But new research suggests the organization, which operates under the World Bank Group, has been providing hundreds of millions of dollars
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By Jennifer Korn Confused how you ended up with a low rating on Uber? A new feature will offer a bit more insight. Uber on Wednesday announced an option that lets you see a breakdown of how many drivers left you a one-star rating, a five-star rating and other ratings in between. Previously users of
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By Jeanne Sahadi, CNN Business Employers, take note: If your staff has been working from home most or all of the time during the past two years, chances are a majority may want to continue doing so after the threat of Covid-19 fades. Among Americans with jobs that can be done remotely, 59% say they
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By Peter Valdes-Dapena, CNN Business Mercedes’ AMG performance division is most famous for making hand-built gasoline engines, but times are changing and electric motors are the new thing. Mercedes just unveiled its latest AMG model, the Mercedes-AMG EQE, a fully electric high-perfomance mid-size sedan. With two high-output electric motors engineered specifically for AMG — one
Continue Reading By Peter Valdes-Dapena, CNN Business Mercedes’ AMG performance division is most famous for making hand-built gasoline engines, but times are changing and electric motors are the new thing. Mercedes just unveiled its latest AMG model, the Mercedes-AMG EQE, a fully electric high-perfomance mid-size sedan. With two high-output electric motors engineered specifically for AMG — one
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By Jordan Valinsky, CNN Business More people than ever participated in Dry January this year, but they didn’t totally ditch the bottle. According to surveys from CGA, a food and drink research firm, 35% of legal-aged US adults skipped alcohol for the entire month — a trend that’s growing in popularity as drinkers look to
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By Anneken Tappe and Nathaniel Meyersohn, CNN Business Inflation is rampant in the pandemic economy, but that didn’t keep Americans from opening up their wallets last month. US retail sales rose by 3.8% in January from the month prior, adjusted for seasonal swings — more than the 2% increase economists had predicted. That puts the
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