Money

By Julia Horowitz, CNN Business Prices for American consumers are rising at the fastest rate in three decades, setting the stage for a standoff between the White House and the Federal Reserve as concerns grow about the political ramifications of inflation. What’s happening: Investors, economists and policymakers were rattled Wednesday by the news that annual

By Michelle Toh, CNN Business Tencent’s growth has slowed significantly as a widening regulatory crackdown in China weighs on its business, particularly its once-booming gaming division. In its first earnings report since China imposed new restrictions on how long minors can play online video games, the company posted a big dip in usage and billings

By Frank Pallotta, CNN Business Disney’s streaming service continues to grow — just not as strong as investors on Wall Street were hoping. The streaming service now has 118.1 million subscribers. That’s higher than the 116 million the company reported in August, but a softer-than-expected result that sent shares down as much as 4.5% in

By Nathaniel Meyersohn, CNN Business You’ve probably realized that shopping for food and household basics is more expensive these days. Expect to keep paying more for groceries in 2022. Prices shoppers paid for groceries climbed 1% in October from September and were 5.4% higher than at the same time last year, according to data released

By Anna Bahney, CNN Business Credit card interest rates have moved swiftly higher this year, significantly increasing the cost burden on those who carry a balance. Over the past two quarters the average annual percentage rate has grown from 15.91% to 17.13%, leaving the current rate just a tick under the all-time record high of

By Anna Bahney, CNN Business The median price of single-family existing homes rose in nearly all — 99% — of the 183 markets tracked by the National Association of Realtors in the third quarter, with double-digit price increases seen in 78% of the markets. But the stratospheric surges in prices have slowed a bit from

By Paul R. La Monica, CNN Business Bitcoin has rocketed to an all-time high of nearly $70,000. But investors are even more excited about ethereum, which is now the world’s second most valuable cryptocurency. Ethereum, or ether for short, is also trading at record levels. It’s now hovering around $4,850, having soared more than 560%

By Jordan Valinsky, CNN Business Mariah Carey, the queen of Christmas, is partnering with McDonald’s and giving her fans one of the best gifts of them all: free(-ish) food. McDonald’s is debuting the “Mariah Menu” next month, in which the fast food chain is giving away a different free menu item each day between December

Opinion by Julie Wainwright for CNN Business Perspectives It’s a well-kept secret that fashion is one of the dirtiest industries out there, contributing up to 8% of the world’s total carbon footprint, more than all international flights and maritime shipping combined. It’s so under the radar that it’s nowhere to be found on the official