Money

By Michelle Toh, CNN Business Shareholders voted Monday in favor of Didi’s plan to quit the New York Stock Exchange less than a year after China’s largest ride-hailing firm launched its $4.4 billion initial public offering. Just days after Didi’s Wall Street debut last summer, Chinese authorities banned the service from app stores in the

By Julia Horowitz, CNN Business The global economy is being brought to the edge of a precipice by crisis upon crisis. As the first World Economic Forum to be held in person since 2020 opened in Davos, Switzerland on Monday, the International Monetary Fund said the economy faces “perhaps its biggest test since the Second

By Matt Egan, CNN The White House is considering an emergency declaration that would enable President Joe Biden to release diesel from a rarely used stockpile in a bid to address a major supply crunch, a senior White House official told CNN. The deliberations about tapping the Northeast Home Heating Oil Reserve underscore the level

By Tami Luhby, CNN The Covid-19 pandemic has been good for the wallets of the wealthy. Some 573 people have joined the billionaire ranks since 2020, bringing the worldwide total to 2,668, according to an analysis released by Oxfam on Sunday. That means a new billionaire was minted about every 30 hours, on average, so

By Ramishah Maruf, CNN Business Elon Musk is going after Insider for publishing a story alleging he sexually harassed a flight attendant on a SpaceX corporate jet in 2016 — but the news outlet’s global editor-in-chief Nicholas Carlson is standing by his team’s reporting. Musk tweeted Friday that his company Tesla is building a “hardcore

By Parija Kavilanz, CNN Business Industry insiders have long feared a situation just like this: American parents are desperately seeking adequate supply of formula for their infants during a nationwide shortage. The formula shortage has exposed an inflexible industry dominated by just three to four large players that own a majority of formula production in

By Peter Valdes-Dapena, CNN Business The new Nissan Z is one of the most important models in the car maker’s recent history — not for any concrete business reason (two-seat sports cars aren’t big sellers), but because even a car company needs a soul. Nissan’s been through some rough times in the past four or

By Nicole Goodkind, CNN Business To badly misquote John Lennon: Everybody’s talking about inflation, stagflation, capitulation, globalization, stagnation, this-ation, that-ation, -ation, -ation, -ation. All we are saying is please make it end. Americans view inflation, which is near 40-year highs, as the top problem facing the country today by a very wide margin. No other

By Julia Horowitz, CNN Business The last time top politicians, CEOs and billionaires gathered in a Swiss mountain village to discuss society’s biggest problems and pitch their solutions, the coronavirus outbreak in China was little more than a remote threat. The economy was humming, and a major armed conflict in Europe was on nobody’s list

By Frank Pallotta, CNN Business “Saturday Night Live” closed out its 47th season by saying goodbye to two of its most beloved cast members. On Saturday night’s episode, the NBC variety show bid adieu to Kate McKinnon and Pete Davidson in subtle, but emotional ways. The show first said goodbye to McKinnon by opening the

By Danielle Wiener-Bronner, CNN Business Believe it or not, people still order takeout using the phone. Applebee’s doesn’t want to take those calls anymore. It wants to outsource those orders to call centers, where a person or automated system will take your orders and also try to upsell you a little. More than half of

By Gabe Cohen, CNN Business Nicosha Jones spent nearly a year trying to buy her first home. Jones, 48, planned to build equity by buying a home in the South Phoenix neighborhood where she grew up. Instead, she’s on the sidelines, facing skyrocketing rent and struggling to restart the process of looking for a place