Money

By Parija Kavilanz, CNN Business Levi’s says it could take a while before consumers are ready to toss aside a pair of comfy baggy jeans for dressier clothing. “The casualization trends that have been accelerated by the pandemic globally are here to stay, and the denim cycle we started pre-pandemic is continuing to drive growth,”

By Paul R. La Monica, CNN Business Charlie Munger, the 97-year old vice chairman of Warren Buffett’s Berkshire Hathaway, has long been bullish on China’s economy. Now, Munger is putting more of his own firm’s money into one of China’s most well-known stocks: Alibaba. Munger’s newspaper publisher and investment firm Daily Journal revealed in a

By Hanna Ziady, CNN Business The United Arab Emirates (UAE) has become the first country in the Persian Gulf to commit to net zero carbon emissions by 2050. But it’s not turning its back on oil just yet. The UAE government made the announcement at Expo 2020 in Dubai on Thursday. Meeting the target would

By Anneken Tappe, CNN Business There’s no end in sight to the volatility on Wall Street as US stocks rallied again Thursday. The Dow finished with a gain of nearly 340 points, or 1%, while the broader S&P 500 rose 0.8%. The tech-heavy Nasdaq Composite increased by 1.1%. It was a solid gain but stocks

By Walé Azeez and Katharina Krebs, CNN Business Speedy approval of the controversial Nord Stream 2 pipeline linking Russia with Germany could help bring down natural gas prices, a top Russian official said as Europe scrambles to address an escalating energy crisis. Russian Deputy Prime Minister Alexander Novak said Wednesday that “early completion of the

By Paul R. La Monica, CNN Business US business leaders are still upbeat about the economic recovery. But they’re not as confident as they were just a few months ago, and they blame the Delta variant and a super tight labor market for the drop in sentiment. The Conference Board, a leading business research think

By Jordan Valinsky, CNN Business Rachel Maddow revealed on her show Wednesday that she had surgery for skin cancer. The MSNBC anchor said she’s going to be “absolutely fine” after getting a cancerous mole removed from her neck last week. Maddow took a few days off following the small procedure at a New York hospital

By Charles Riley, CNN Business We hate to be the bearers of bad news. But the pandemic just keeps delivering setbacks for the global economy. Supply chains have been stretched beyond breaking, inflation is rising sharply across developed economies and an energy crisis looms. The latest problem spot is Germany, where manufacturing production fell 4.7%

By Charles Riley, CNN Business Cathie Wood is moving her business to Florida. Ark Investment Management is permanently closing its New York office and relocating to St. Petersburg, Florida, the company announced Wednesday. Wood’s flagship Ark Innovation exchange-traded fund surged nearly 150% in 2020, turning her into a Wall Street superstar. Wood does things differently,

By Julia Horowitz, CNN Business Astronomical increases in natural gas prices. Skyrocketing coal costs. Predictions of $100 oil. A global energy crunch caused by weather and a resurgence in demand is getting worse, stirring alarm ahead of the winter, when more energy is needed to light and heat homes. Governments around the world are trying

By Anneken Tappe, CNN Business Friday’s jobs report will shed some light on whether August’s disappointing numbers were just a blip — or the start of an unwelcome trend. Either way, the recovery could be bumpy until America gets all the way through the Covid crisis. “The pandemic has always been in the driver’s seat