Money

By Laura He, CNN Business The Chinese yuan sank to the lowest level in two years after hawkish comments by Federal Reserve chairman Jerome Powell spurred a recent rally for the greenback. The yuan — also known as the renminbi — lost about 0.5% against the dollar on Monday in offshore trading outside mainland China.

By Chris Isidore, CNN Business Few companies flourished more amid the pandemic’s economic upheaval than Peloton. With people unable (or unwilling) to go to the gym, consumers rushed to buy its exercise equipment and, more importantly, sign up for its online classes. Peloton posted its first quarterly profits in calendar year 2020 as revenue jumped

By Paul R. La Monica, CNN Business August is about to come to a close, which means that the summer is almost over in the Northern Hemisphere. (Have fun in the sun, Australia!) If that’s not enough to bum you out, then this might: September, which begins on Thursday, is historically the worst month of

By Frank Pallotta, CNN Business When HBO Max launched in 2020, it was designed to be the streaming home for everything Warner Bros., DC and HBO, with plenty of stuff for the kids to watch, too. Now, suddenly, HBO Max is starting to look a little different. The service, which like CNN is owned by

By Zoe Sottile, CNN One small step for a man, one giant leap for… doughnuts? Krispy Kreme will launch a special, limited-edition Artemis Moon doughnut on Monday, the day NASA is expected to launch a rocket, designed to eventually carry humans, on an uncrewed test flight around the moon. The Artemis I mission is the

By Ramishah Maruf, CNN The Wendy’s mascot has a new hairdo on its Canadian social media sites — all in support of one of the nation’s veteran journalists. The fast food giant’s Canada unit posted a new profile picture on its Twitter feed Thursday that gave Wendy’s iconic red pigtails a gentle gray shade. The

By Ramishah Maruf, CNN Workers at a Chipotle Mexican Grill in Lansing, Michigan, voted to unionize Thursday, becoming the first of the fast-casual chain’s 3,000 locations to organize. The workers at the Lansing Chipotle voted to form a union with the International Brotherhood of Teamsters. In a release Thursday, the union said that workers are

By Jeanne Sahadi, CNN Business Federal Reserve Chairman Jerome Powell on Friday made clear that interest rates were likely to continue moving higher in the central bank’s ongoing bid to quash high inflation. The Fed intends to use its policymaking “tools forcefully to bring demand and supply into better balance,” Powell said during his keynote

By Martha C. White Federal Reserve chairman Jerome Powell warned that the central bank’s mission to tame inflation will result in “some pain” for US households. In a keynote speech at the Federal Reserve’s annual Jackson Hole Economic Symposium Friday morning, Powell said that the path to reducing inflation would not be quick or easy,