Money Archives

A dried cracked lake bed at Lake Oroville during a drought in Oroville

Access to clean, safe water is essential in the fight against climate change

November 1, 2021 1:31 PM CNN

Opinion by Matt Damon and Gary White for CNN Business Perspectives A global shift is happening. Governments are increasingly allocating resources to energy alternatives. Consumers are demanding that companies take active measures to protect the environment through carbon offsets and recyclable packaging. Investors are integrating environmental, social, and governance (ESG) objectives into their investment decisions

A digital currency based off the popular Netflix series "Squid Game" is trading at $0 after its creators cashed out

Squid Game crypto plunges to $0 after scammers steal millions of dollars from investors

November 1, 2021 12:47 PM CNN Newsource

By Jordan Valinsky, CNN Business A digital currency based off the popular Netflix series “Squid Game” is trading at $0 after its creators cashed out, effectively stealing an estimated $2.1 million from investors. The cryptocurrency, appropriately called SQUID, surged as high as $2,861 before falling to $0 as of Monday, according to CoinMarketCap. The scam,

Issues with the toilet on board SpaceX's Crew Dragon capsule will leave a group of four astronauts without a bathroom option during their hours-long trip back home from the International Space Station aboard the 13-foot-wide capsule this month.

Leaky SpaceX toilet problem will force astronauts to use backup ‘undergarments’

November 1, 2021 12:20 PM CNN Newsource

By Jackie Wattles, CNN Business Issues with the toilet on board SpaceX’s Crew Dragon capsule will leave a group of four astronauts without a bathroom option during their hours-long trip back home from the International Space Station aboard the 13-foot-wide capsule this month. Instead, the crew will have to rely on “undergarments,” Steve Stich, NASA’s

Coca-Cola has acquired sports drink maker Bodyarmor.

Coca-Cola is buying sports drink maker BodyArmor

November 1, 2021 12:06 PM CNN Newsource

By Danielle Wiener-Bronner, CNN Business Coca-Cola has acquired sports-drink maker BodyArmor in a bid to steal market share from Pepsico-owned Gatorade. This is Coca-Cola’s largest brand acquisition, according to a company spokesperson. The beverage giant first took a 15% stake in BodyArmor in 2018. It’s taking control of the remaining part in a $5.6 billion

People wait in line at Avis rental agency in the Miami International Airport Car Rental Center on April 12

Avis Budget stock is soaring thanks to the rental car boom

November 1, 2021 10:58 AM CNN Newsource

By Paul R. La Monica, CNN Business Hertz has made a lot of headlines lately thanks to its deals with Tesla and Uber. Wall Street has noticed, too. But rival rental car company Avis Budget is doing even better. Hertz stock, which currently is listed on Nasdaq’s bulletin board and hopes to return to the

Tax the rich? Maybe not. Democrats’ spending plan could be a tax cut for the rich, budget watchdog finds

November 1, 2021 10:35 AM CNN Newsource

By Matt Egan, CNN Business Democrats’ $1.75 trillion economic and climate bill could end up delivering a tax cut for the richest 5% of Americans, a new analysis finds. The Build Back Better framework released by the White House last week calls for tax increases on the richest families, including a surtax on multi-millionaires and

Tax the rich? Maybe not. Democrats’ spending plan could be a tax cut for the rich, budget watchdog finds

November 1, 2021 10:35 AM CNN

By Matt Egan, CNN Business Democrats’ $1.75 trillion economic and climate bill could end up delivering a tax cut for the richest 5% of Americans, a new analysis finds. The Build Back Better framework released by the White House last week calls for tax increases on the richest families, including a surtax on multi-millionaires and

The American chief executive of Barclays

Barclays CEO Jes Staley quits after investigation into links with Jeffrey Epstein

November 1, 2021 8:29 AM CNN

By Mark Thompson, CNN Business The American chief executive of Barclays, Jes Staley, is stepping down with immediate effect following an investigation by British regulators into his relationship with disgraced financier Jeffrey Epstein, the bank said on Monday. The investigation by the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA)

Elon Musk has offered to sell some of his Tesla stock "right now" if the UN can prove that $6 billion will solve world hunger.

Elon Musk offers to sell Tesla stock ‘right now’ if UN can show how $6 billion would solve world hunger

November 1, 2021 8:11 AM CNN Newsource

By Walé Azeez, CNN Business Elon Musk has offered to sell some of his Tesla stock “right now” if the UN can prove that $6 billion will solve world hunger. His comments came after UN World Food Programme (WFP) director David Beasley challenged the ultra-wealthy — and in particular the world’s two richest men Jeff

People wait in line at an American Airlines counter at an airport in Charlotte

American Airlines cancels 250 more flights

November 1, 2021 7:52 AM CNN Newsource

By Pete Muntean and Chris Isidore, CNN Business American Airlines has canceled another 250 flights on Monday, continuing a days-long chain reaction of cancellations that started last week. American says it canceled 1,058 flights on Sunday, or roughly one in every five of its originally scheduled flights. That was on top of the 548 flights

Banks and technology companies are largely unfazed by snarled supply chains and worker shortfalls. In this aerial photo

Earnings season tells a tale of two economies

November 1, 2021 7:33 AM CNN Newsource

By Julia Horowitz, CNN Business Another strong earnings season is cheering investors and pushing US stocks to record highs. What’s happening: More than half of the companies in the S&P 500 have reported results. According to FactSet, 82% have beat Wall Street’s profit expectations. That’s helping to produce a “greed” reading on the CNN Business

Earnings season tells a tale of two economies

November 1, 2021 7:33 AM CNN

By Julia Horowitz, CNN Business Another strong earnings season is cheering investors and pushing US stocks to record highs. What’s happening: More than half of the companies in the S&P 500 have reported results. According to FactSet, 82% have beat Wall Street’s profit expectations. That’s helping to produce a “greed” reading on the CNN Business

A Southwest Airlines airplane taxies from a gate at Baltimore Washington International Thurgood Marshall Airport on October 11

Southwest launches investigation into pilot reportedly using anti-Biden phrase on flight

November 1, 2021 6:38 AM CNN

By Pete Muntean, CNN Southwest Airlines says it is launching an internal investigation after a report that one of its pilots used anti-Biden slang over a plane’s public address system during a flight. “Southwest does not condone Employees sharing their personal political opinions while on the job,” the airline said in a Sunday statement. “Southwest

Peloton is partnering with Delta Air Lines to bring some of its classes to the airline's in-flight entertainment systems.

Peloton classes are coming to your next Delta flight

November 1, 2021 5:30 AM CNN Newsource

By Jordan Valinsky, CNN Business It’s hard to relax on a flight, but Peloton is hoping to help. The fitness company is partnering with Delta Air Lines to bring some of its classes to the airline’s in-flight entertainment systems. Five stretching and meditation custom classes produced exclusively for Delta are now available on planes with

China's big factories just had their worst month since the Covid-19 pandemic began. A worker is shown here on a production line at the Shende Material Workshop in Lianyungang Economic and Technological Development Zone

China’s factories are still struggling with the energy crunch and supply woes

November 1, 2021 4:38 AM CNN Newsource

By Jill Disis, CNN Business China’s big factories just had their worst month since the Covid-19 pandemic began, underscoring the scale of the slowdown in the world’s second largest economy and the supply challenges facing their customers. A government survey of manufacturing activity released over the weekend fell for a second straight month, down to

Barclays CEO Jes Staley quits after investigation into links with Jeffrey Epstein

November 1, 2021 3:15 AM CNN Newsource

By Mark Thompson, CNN Business The American chief executive of Barclays, Jes Staley, is stepping down with immediate effect following an investigation by British regulators into his relationship with disgraced financier Jeffrey Epstein, the bank said on Monday. The investigation by the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA)

TikTok rival Kuaishou becomes the latest Chinese tech firm to reshuffle its leadership

November 1, 2021 1:55 AM CNN Newsource

By Michelle Toh, CNN Business Kuaishou, the Chinese short video-sharing app that’s known as a popular alternative to TikTok, has replaced its CEO — the latest leadership reshuffle in Chinese tech. The Beijing-based company announced late Friday that co-founder Su Hua was stepping down from the role, while staying on as chairman of the board.

Pro-Trump supporters storm the U.S. Capitol following a rally with President Donald Trump on January 6

Washington Post report rebuts the January 6 alt-reality that Tucker Carlson promotes

October 31, 2021 8:39 PM CNN Newsource

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. The distance between Trump America’s perception of January 6 and the rest of America’s understanding of the attack is growing so wide, it cannot be bridged. To see what I

Southwest launches investigation into pilot reportedly using anti-Biden phrase on flight

October 31, 2021 5:10 PM CNN Newsource

By Pete Muntean, CNN Southwest Airlines says it is launching an internal investigation after a report that one of its pilots used anti-Biden slang over a plane’s public address system during a flight. “Southwest does not condone Employees sharing their personal political opinions while on the job,” the airline said in a Sunday statement. “Southwest

Flying is getting worse for both passengers and crews. People wait in line at an American Airlines counter at an airport in Charlotte

Why flying is so bad and about to get worse

October 31, 2021 2:00 PM CNN

By Chris Isidore, CNN Business Canceled flights, packed planes, rising fares and violent outbursts are the new normal for air travel. Flying is getting worse for both passengers and crews. The problems run deeper than the operational meltdowns that caused Southwest and American Airlines to cancel thousands of flights over four-day periods in recent weeks,