By Anneken Tappe, CNN Business A key measure of inflation rose 5.8% between December 2020 and December 2021, the Bureau of Economic Analysis reported Friday. It was the biggest advance since 1982. Energy prices alone rose nearly 30% over the course of 2021, while food prices climbed 5.7%. Stripping out those two components, the core
Continue Reading
By Anneken Tappe and Tami Luhby, CNN Business Americans’ paychecks continued to rise at the end of 2021. But along with that, so did prices. Compensation for American workers climbed 4% between December 2020 and December 2021, marking the biggest increase since the fourth quarter of 2001, according to the Bureau of Labor Statistics. Private
Continue Reading
By Nathaniel Meyersohn, CNN Business Retail and restaurant work is notorious for irregular scheduling and last-minute changes — factors that can harm workers’ lives and the well-being of their families. Despite essential workers being hailed as heroes during the Covid-19 pandemic, and a historically tight labor market, schedule instability has improved little over the past
Continue Reading
By Julia Horowitz, CNN Business Investors in stocks have balked at the Federal Reserve’s aggressive pivot as it takes a stand against inflation. But earnings from some of the biggest companies still look pretty solid. Does that mean the sell-off of tech and other high-growth companies is overdone? Apple: The iPhone maker, whose shares are
Continue Reading
By Alicia Wallace, CNN Business Since losing one-third of its workforce at the outset of the pandemic, the child care industry has seen a jobs recovery that’s been slow and incomplete. And now it’s starting to backslide. After shedding 4,500 jobs from September through November, preliminary estimates from the US Bureau of Labor Statistics show
Continue Reading
By Parija Kavilanz, CNN Business The unraveling of the global supply chain has been blamed on a multitude of factors — the pandemic, labor and raw material shortages, skyrocketing shipping prices and adverse weather events among them. Now, add one more to the list: a surge in factory fires. Supply chain disruptions last year jumped
Continue Reading
By Jordan Valinsky, CNN Business Mountain Dew’s Baja Blast, the beloved tropical lime-flavored beverage that originated at Taco Bell, is being made boozy. Boston Beer Company, which partnered with Pepsi to make a spiked seltzer version of the soft drink, exclusively told CNN Business that it’s surprising fans with a new “HARD MTN DEW” flavor
Continue Reading
By Anna Cooban, CNN Business UniCredit has dropped a potential bid for a Russian state-owned bank because of the escalating crisis over Ukraine. CEO Andrea Orcel confirmed reports that the Italian bank was considering acquiring Otkritie when it goes public, but has since abandoned the project due to the “geopolitical environment.” “We were indeed evaluating
Continue Reading
By Kristin Fisher, CNN The International Space Station has transcended terrestrial political troubles between the United States and Russia for more than two decades. But some former NASA astronauts who spent months floating alongside Russian cosmonauts are worried the current crisis in Ukraine could end the US-Russian partnership in space. The ISS, which is a
Continue Reading
By Brian Fung, CNN Business From canceled flights to dire warnings of a stalled shipping economy, this was not how the rollout of 5G networks was supposed to go. Despite having years to prepare, the United States last week had to scramble to keep the launch of new, next-generation wireless technologies from disrupting air transportation
Continue Reading By Brian Fung, CNN Business From canceled flights to dire warnings of a stalled shipping economy, this was not how the rollout of 5G networks was supposed to go. Despite having years to prepare, the United States last week had to scramble to keep the launch of new, next-generation wireless technologies from disrupting air transportation
Continue Reading
By Charles Riley, CNN Business UK companies and organizations have been urged to bolster their defenses against potential Russian cyberattacks as Moscow masses military forces on the Ukrainian border. Britain’s National Cyber Security Centre has directed organizations to take action “in response to the malicious cyber incidents in and around Ukraine,” saying recent attacks are
Continue Reading
By Diksha Madhok, CNN Business Google is investing up to $1 billion in a major Indian telecom company, a move it hopes will drive down the cost of smartphones in a huge and rapidly expanding market. Google said in a statement Friday that it would invest $700 million in Bharti Airtel, India’s second-largest telecom operator,
Continue Reading
By Rhea Mogul and Vedika Sud, CNN Dharini Mathur’s son had just turned 4 when he started pre-school online. More than 600 days later, he still sits behind his computer screen, attempting to learn virtually — while making zero contact with his classmates and teachers. He is one of more than 4 million children in
Continue Reading
The coronavirus pandemic, along with a struggling economic climate has created challenges for some minority and women-owned businesses.
Continue Reading
By Michelle Toh and Selina Wang, CNN Business Sponsors of the Olympics are walking a tightrope ahead of the Beijing Winter Games next month as worsening geopolitical tensions force them to consider downplaying their involvement without upsetting China. Political fervor in the United States reached a high last month as the White House called for
Continue Reading By Michelle Toh and Selina Wang, CNN Business Sponsors of the Olympics are walking a tightrope ahead of the Beijing Winter Games next month as worsening geopolitical tensions force them to consider downplaying their involvement without upsetting China. Political fervor in the United States reached a high last month as the White House called for
Continue Reading
By Brian Fung and Laura He, CNN Business The Federal Communications Commission on Thursday voted to ban China Unicom, a state-owned Chinese telecommunications carrier, from offering telecom services in the United States. The decision marks the regulators’ latest move to lock down US networks against the risk of Chinese espionage, a threat that national security
Continue Reading
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. Last week’s frightening sight of a local TV reporter being hit by a car during a live shot is sparking conversations and calls for change. The reporter, Tori Yorgey of
Continue Reading By Rhea Mogul and Vedika Sud, CNN Dharini Mathur’s son had just turned 4 when he started pre-school online. More than 600 days later, he still sits behind his computer screen, attempting to learn virtually — while making zero contact with his classmates and teachers. He is one of more than 4 million children in
Continue Reading