By Anna Cooban, CNN Business The price of goods leaving German factories has passed an eye-watering milestone. German annual producer price inflation topped 30% in March, the country’s Federal Statistics Office said on Wednesday. That’s its highest level since the agency began collecting data 73 years ago. The biggest culprit? Energy prices, which rose nearly
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By Chris Isidore, CNN Business Tesla shareholders have been spending a lot of time following CEO Elon Musk’s grand play to buy Twitter. Come Wednesday night they’ll be focused once again on a company he already controls — Tesla itself. Tesla reports first quarter results after the bell Wednesday. Analysts have a fairly bullish outlook
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Summer travel is right around the corner and travelers may be rethinking their plans as inflation hit 8.5% in March.
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By Frank Pallotta, CNN Business Call Eleven and Sheriff Hopper of “Stranger Things,” because Netflix’s world has been turned upside down. The company reported Tuesday that it lost subscribers for the first time in more than a decade. The news shocked Wall Street and sent shares plummeting 35% Wednesday morning, wiping out $50 billion in
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By Ramishah Maruf, CNN Elon Musk wants everyone to believe he really did have the money secured to take Tesla private back in 2018. But a group suing him over that claim say he didn’t have it, and that the SEC and a federal judge agree. Musk is making the claim as he faces a
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By Danielle Wiener-Bronner, CNN Business No more microwaving your Halo Top light ice cream. At least, that’s one goal of the new recipe — which is replacing the old one and currently rolling into stores. Originally, Halo Top cartons instructed customers to “give me a couple of minutes on the counter before you dig in,”
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By Alicia Wallace, CNN Business More than a dozen US states reached or exceeded their pre-pandemic employment levels in March, and more than one-third have reported record-low unemployment rates, according to data from the US Bureau of Labor Statistics. As the nation claws its way back from the stark job losses incurred during the early
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By Frank Pallotta, CNN Business Netflix’s bad 2022 just got much worse. After shares tanked earlier this year because of concerns over its subscriber growth, the streaming leader said that it lost subscribers when it reported first quarter earnings on Tuesday. Netflix now has 221.6 million subscribers globally. It shed 200,000 subscribers in the first
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By Catherine Thorbecke, CNN Business Amazon said it will conduct an audit, led by former Attorney General Loretta Lynch, to “evaluate any disparate racial impacts” of its policies on its US hourly employees. The move, which Amazon disclosed in a filing late last week, followed shareholder pressure to conduct a racial equity audit to address
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By Nicole Goodkind, CNN Business Volkswagen is gunning for Tesla. Tesla is still king, with over 936,000 electric vehicles sold in 2021 and a share of about 14% of the global electric car market. But Volkswagen isn’t far behind. having grabbed about 11% of the market last year and doubled its EV sales compared with
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By Paul R. La Monica, CNN Business Disney investors aren’t having as awful a year as Netflix shareholders. But that’s not saying much. Netflix’s stock has plunged more than 40% this year, ahead of its first quarter earnings release after the closing bell Tuesday. Meanwhile, shares of Disney have dropped nearly 15% so far in
Continue Reading By Paul R. La Monica, CNN Business Disney investors aren’t having as awful a year as Netflix shareholders. But that’s not saying much. Netflix’s stock has plunged more than 40% this year, ahead of its first quarter earnings release after the closing bell Tuesday. Meanwhile, shares of Disney have dropped nearly 15% so far in
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By Julia Horowitz, CNN Business The International Monetary Fund has slashed its expectations for global economic growth over the next two years because of Russia’s invasion of Ukraine, comparing the ripple effects from the conflict to an “earthquake.” “The economic effects of the war are spreading far and wide,” the organization said in its latest
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By Matt Egan, CNN Business Prices at the pump have stopped falling from their recent highs — and some forecasters are warning of another uptick as the summer driving season looms and the war in Ukraine continues. After a slow-but-steady decline, the national average price for regular gasoline bottomed out at $4.07 a gallon last
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By Brian Fung, CNN Business Face masks are now optional for Uber and Lyft riders and drivers in the United States, the ride-hailing companies said Tuesday, shortly after several major airlines announced a similar change in policy. “The CDC order requiring masks while using rideshare platforms such as Uber is no longer in effect, and
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By Danielle Wiener-Bronner, CNN Business Popeyes has big expansion plans for 2022. The chicken chain is set to open more than 200 new locations in the United States and Canada this year, the company announced Tuesday. Popeyes also said it will launch additional locations in several other places around the world, including in South Korea,
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By Jeanne Sahadi, CNN Business Most people who are required to file 2021 tax returns will have done so by the official filing due date — Monday, April 18. Or they applied for an extension, giving them until October 17 to file their returns. But you’re not most people. You did neither. The question now
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By Rachel Metz, CNN Business On March 24, weeks before he offered to buy Twitter, Elon Musk posted a poll on the social media platform: “Twitter algorithm should be open source,” he wrote, with options for users to vote “yes” or “no.” Some of Twitter’s technology is already open source, which means it’s publicly available
Continue Reading By Julia Horowitz, CNN Business The International Monetary Fund has slashed its expectations for global economic growth over the next two years because of Russia’s invasion of Ukraine, comparing the ripple effects from the conflict to an “earthquake.” “The economic effects of the war are spreading far and wide,” the organization said in its latest
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By Brian Stelter, CNN Business Joe Kahn, the managing editor of The New York Times, will succeed Dean Baquet as executive editor in June. Kahn, a 24-year veteran of the news organization and Baquet’s second in command, was thought to be the favorite for the top Times newsroom job. Publisher A. G. Sulzberger confirmed it
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