By Anneken Tappe, CNN Business Covid continues to loom over the US economy, but economic activity is nonetheless inching closer to its pre-pandemic strength, helped in large part by people returning to their offices. The biggest problem putting a damper on early celebrations: the ongoing supply chain crisis. The Back-to-Normal Index created by CNN Business
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By Laura He, CNN Business Beijing is making one thing clear to the country’s embattled property developers: Pay your debts. All of them. Two major economic and finance agencies on Tuesday called on companies in “key industries” to redeem the principal and interest on their overseas bonds, according to a government statement. Regulators from the
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By Matt Egan, CNN Business President Joe Biden’s vaccine order will force employers to lay off thousands of workers, making the supply-chain crisis much worse, a major business group warned the White House this week. The National Association of Wholesaler-Distributors, an influential trade group that represents an industry with nearly 6 million workers, is pleading
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By Matt Egan, CNN Business Former President Donald Trump’s planned return to Wall Street is setting off a frenzy. Shares of the shell company that Trump’s new media company plans to merge with surged as much as 284% on Friday, prompting a series of trading halts for volatility. The company, Digital World Acquisition Corp., finished
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By Jeremy Harlan, CNN For about twenty minutes, Alex Barbosa had his full menu on display — written in permanent marker on peach-colored butcher paper — before he had to start taking parts of it down. “Sorry, ma’am. We’re already out of the burnt ends,” Barbosa, owner of the mobile barbecue trailer Barbosa’s Barbeque, tells
Continue Reading By Jordan Valinsky, CNN Business Chipotle’s smoked brisket was always intended to be a limited-time menu item. But it’s been so popular that the offering is ending earlier than planned. The company revealed in Thursday’s earnings call that the brisket promotion will end in November, meaning it will just be on sale for partial quarter.
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By Matt McFarland, CNN Business The question of who will regulate cutting-edge driving technologies appears to be answered. For years, the US government hasn’t regulated driver-assist systems like Tesla’s Autopilot and GM’s SuperCruise. Automakers can do as they please because there are no standards for these systems. But President Joe Biden’s administration appears to want
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By Kathryn Vasel, CNN Business It’s a nice feeling to get multiple job offers and be able to choose the best possible opportunity. But how you turn down potential employers is also important for your career. “You don’t want to burn any bridges, the world is really small,” said Karen Delk, CEO of Davis Delk
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By Walé Azeez, CNN Business Inflation could surge above 5% early next year in the United Kingdom, according to the Bank of England’s top economist, as product and labor shortages continue to hamper the country’s economic recovery. “I would not be shocked — let’s put it that way — if we see an inflation print
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By Jordan Valinsky, CNN Business Chipotle’s smoked brisket was always intended to be a limited-time menu item. But it’s been so popular that the offering is ending earlier than planned. The company revealed in Thursday’s earnings call that the brisket promotion will end in November, meaning it will just be on sale for partial quarter.
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By Julia Horowitz, CNN Business Supply chain bottlenecks are weighing on economic growth in Europe. The same problem is hitting China as it battles an energy crunch and concerns about its huge real estate sector. And in the United States, factories can’t produce as much as they’d like due to shortages of workers. What’s happening:
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By Michelle Toh, CNN Business Evergrande has made a crucial payment that allows it to stay out of default, at least for now, according to Chinese state media. State-run financial newspaper Securities Times reported Friday that the embattled property conglomerate had made an $83.5 million interest payment on a dollar-denominated bond that was due last
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By Sara Ashley O’Brien, CNN Business Ridehail company Lyft on Thursday released its first ever safety report, disclosing that it received 4,158 reports of sexual assault on its platform in 2017, 2018, and 2019. The disclosure comes more than three years after Lyft and its rival Uber first pledged to release safety reports disclosing incidents
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By Rishi Iyengar, CNN Business Snapchat’s parent company crossed $1 billion in quarterly revenue for the first time ever, but worse-than-expected earnings and a forecast of more headwinds to come led its stock to crash on Thursday. Shares of Snap, which owns the popular photo and video app, plunged as much as 25% in after-hours
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By Alexis Benveniste, CNN Business The Financial Stability Oversight Council released a report on climate change Thursday, outlining the danger that a warming planet will have on the financial future of the United States. Climate change is an “emerging threat to the financial stability of the United States,” Stephen Ledbetter, the executive director and director
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By Matt Egan, CNN Business The Federal Reserve announced new trading rules on Thursday following a controversy over trades made by senior officials. The Fed said the new rules will ban policymakers and senior staff from buying individual stocks and bonds and will restrict active trading. The central bank pledged to also increase the frequency
Continue Reading By Matt Egan, CNN Business The Federal Reserve announced new trading rules on Thursday following a controversy over trades made by senior officials. The Fed said the new rules will ban policymakers and senior staff from buying individual stocks and bonds and will restrict active trading. The central bank pledged to also increase the frequency
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by Matt Egan, CNN Business Senator Elizabeth Warren urged the Federal Reserve on Thursday to release a March 2020 ethics warning provided to Fed officials that could shed light on the central bank’s trading scandal. “I am writing to ask that you release this information immediately, so that Congress and the public can evaluate the
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By Anna Bahney, CNN Business After the housing market finally started cooling off a bit over the summer, sales rebounded in September. The tight inventory of homes, which had been improving earlier in the year, worsened again in September and prices continued to climb, according to a report from the National Association of Realtors. September
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By Matt Egan, CNN Business Former President Donald Trump is planning a return to Wall Street. Trump, whose companies have a long history of filing for bankruptcy, announced a deal Wednesday night to bring a new media company public through what’s known as a SPAC, or a Special Purpose Acquisition Corporation. Trump Media & Technology
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