Money

By Christine Romans, CNN Business It’s “almost impossible” for the Fed to tamp down inflation without tipping the US economy into a recession, says Former IMF Chief Economist Ken Rogoff. “[The Fed] would have to be very lucky,” Rogoff told CNN’s Christine Romans on Early Start. “They have to decide: Do they have to have

By Chris Isidore, CNN Business GameStop has fired its chief financial officer and is preparing to make cuts to its staff. Shares of the company’s volatile stock fell 5% in premarket trading Friday. The stock rose 15% Thursday after the company planned a four-for-one stock split, GameStop did not give a reason for firing CFO

By Nathaniel Meyersohn, CNN Business The highest rate of inflation in decades has forced businesses to raise prices on food and other products once considered sacrosanct. Among the list of inflation casualties: $1 prices at Dollar Tree, the $1 slice of pizza in New York City, Little Caesars’ $5 Hot-N-Ready pizza, McDonald’s dollar drink deals

By Nicole Goodkind, CNN Business If you follow markets news, you’ve probably seen a few hundred headlines this year akin to: “Stocks slide as red-hot inflation weighs on investors.” At first glance, it’s a perfectly reasonable thesis. Inflation rates are still at 40-year highs and the Fed is serious about raising rates to fight them. Neither is particularly

By Alicia Wallace, CNN Business The US economy added 372,000 jobs in June, an unexpected boost in hiring and a signal that the labor market remains robust despite recession fears, according to the monthly jobs report from the Bureau of Labor Statistics released Friday. The unemployment rate held steady at 3.6%, still close to the 52-year low last reached

By Diksha Madhok, CNN Business India risks damaging its reputation among foreign investors with its “frequent investigations” into Chinese companies, Beijing said this week. China’s embassy in India said in a statement Thursday that probes by Indian authorities into Chinese companies were disrupting “normal business activities” and chilling “the confidence and willingness of market entities

By Lauren Said-Moorhouse and Lauren Kent, CNN Business Parts of a tabloid article alleging that Prince Harry tried to keep a legal challenge against a British government department a secret were “defamatory,” a UK High Court judge ruled on Friday. The Duke of Sussex is suing Associated Newspapers Limited (ANL) after one of its publications,

By Tami Luhby, CNN Many Americans are struggling to cope with higher prices for food, gas, housing and other essentials. But inflation has taken an even heavier toll on certain segments of the population. Black and Hispanic Americans have been grappling with higher inflation rates than the national average since prices began surging in March

Opinion by Henry Fernandez for CNN Business Perspectives If the world hopes to limit the increase in global temperatures to 1.5 degrees Celsius — the level scientists say is necessary to avoid the worst impacts of climate change — total greenhouse gas emissions must peak before 2025 and decline 43% by 2030, according to the

By Chris Isidore, CNN Business American Airlines has agreed to pay its pilots triple their normal rate after a computer scheduling glitch left thousands of flights with understaffed cockpits. The malfunction in the scheduling program occurred early Saturday morning and allowed pilots to drop flights the airline was counting on them to fly throughout the

By Jordan Valinsky, CNN Business Pringles and spiders are probably two things you don’t associate with each other — until now. The Kellogg-owned brand is petitioning the “arachnid community” to recognize the little-known Kidney Garden spider as the Pringles Spider. The reason, the snack food maker says, is because it has an uncanny resemblance to

By Jordan Valinsky, CNN Business GameStop shares will soon lose three quarters of their value. But don’t worry: It’s good news for stockholders. The company announced Wednesday that its board approved a 4-for-1 stock split, effective July 22. Shares of the meme stock darling soared more than 8% in early trading following the news. GameStop

By Anna Bahney, CNN Business Mortgage rates dropped for the second week in a row, notching the largest decline since December, 2008. The 30-year fixed-rate mortgage averaged 5.30% in the week ending July 7, down from 5.70% the week before, according to Freddie Mac. That is still significantly higher than this time last year when