By Rob McLean and Chris Isidore, CNN Business The auto industry continues its rush to build factories for production of the massive batteries needed to power electric vehicles. Automaker Stellantis, formed by last year’s merger of Fiat Chrysler and French automaker PSA Group, and South Korean battery maker LG Energy Solution announced Monday they are
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By Laura He, CNN Business The cost of goods leaving China’s factories is surging by the highest rate on record, stoking fears about stagflation in the world’s second largest economy at a time when it is already grappling with an extreme power crunch and deepening debt woes. The producer price index — which measures the
Continue Reading By Laura He, CNN Business The cost of goods leaving China’s factories is surging by the highest rate on record, stoking fears about stagflation in the world’s second largest economy at a time when it is already grappling with an extreme power crunch and deepening debt woes. The producer price index — which measures the
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By Michelle Toh, CNN Business Disney is coming after Netflix in Asia. The owner of Disney+ announced a major expansion into Asian content on Thursday, with plans to greenlight more than 50 original titles from the region by 2023. Disney is commissioning new shows from South Korea, Japan, Australia, Taiwan and Indonesia. Many of the
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By Chris Isidore, CNN Business About 10,000 members of the United Auto Workers union went on strike against farm and construction equipment maker John Deere early Thursday morning. The UAW had reached a tentative agreement on a new six-year contact with the company two weeks ago, only to see 90% of the rank-and-file members of
Continue Reading By Chris Isidore, CNN Business About 10,000 members of the United Auto Workers union went on strike against farm and construction equipment maker John Deere early Thursday morning. The UAW had reached a tentative agreement on a new six-year contact with the company two weeks ago, only to see 90% of the rank-and-file members of
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By Matt Egan Americans should expect to shell out more money to heat their homes this year — especially if it’s a very cold winter. Compared with last winter, households will spend 54% more for propane, 43% more for home heating oil, 30% more for natural gas and 6% more for electric heating, the US
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By Jeanne Sahadi, CNN Business The announcement that Social Security retiree benefits will rise by 5.9% next year — the largest cost of living increase since 1982 — should be welcome news for many seniors. Besides the strain of the pandemic, those living on low to moderate incomes have been hit especially hard by the
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By Jordan Valinsky, CNN Business Wendy’s highly anticipated new french fries are officially on sale — and they’re coming with a guarantee. If you’re not happy with the fries, which have been reformulated to be extra hot and crispy, Wendy’s will replace them with no questions asked. Unsatisfied customers just have to bring them back
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By Kerry Flynn, CNN Business Adam Schefter, one of ESPN’s most prominent NFL reporters, appears to have violated typical journalistic standards in a newly-revealed email he sent in 2011 to Bruce Allen, who at the time was general manager of Washington Football Team (WFT). According to email exchanges filed as exhibits in a court case
Continue Reading By Kerry Flynn, CNN Business Adam Schefter, one of ESPN’s most prominent NFL reporters, appears to have violated typical journalistic standards in a newly-revealed email he sent in 2011 to Bruce Allen, who at the time was general manager of Washington Football Team (WFT). According to email exchanges filed as exhibits in a court case
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By Chris Isidore, CNN Business Delta Air Lines took the unusual step of publicly disputing a viral rumor spread by an anti-vax podcast, which claimed one of Delta’s pilots recently died mid-flight days after getting a vaccine. Delta said no such thing happened. Mid-flight deaths are rare and airlines are legally required to report them
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By Hanna Ziady, CNN Business President Vladimir Putin has rejected accusations that Russia is deliberately driving natural gas prices higher in Europe by withholding exports. Speaking at an energy conference in Moscow on Wednesday, Putin called the accusations “politically motivated” and without evidence. His comments came as EU officials said lower than anticipated supplies of
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By Jackie Wattles, CNN Business Ninety-year-old William Shatner, who gained fame portraying Captain Kirk on the original “Star Trek,” just hitched a ride aboard a suborbital spacecraft that grazed the edge of outer space before parachuting to a landing, making Shatner the oldest person ever to travel to space. “That was unlike anything they described,”
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By Danielle Wiener-Bronner, CNN Business Last year, Halloween entailed homemade candy chutes — pipes that allowed people to send candy down to costumed children without getting too close — and pre-packaged goody bags left on stoops, curbs and outdoor tables. This year, families are eager to get back to trick or treating. That’s good news
Continue Reading By Frank Pallotta, CNN Business Michael Myers made a killing at the box office, even though he was also streaming. Universal Pictures’ “Halloween Kills” — the latest installment in the long running franchise — brought in an estimated $50.3 million at the North American box office this weekend. That number exceeded industry expectations, which had
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By Walé Azeez, CNN Business Should UK government officials be allowed to send each other “disappearing messages” on WhatsApp? A High Court judge has ruled that two campaign groups can pursue their case to end the practice. Nonprofit groups Foxglove and the Citizens were given the go ahead on Tuesday to challenge the use of
Continue Reading By Walé Azeez, CNN Business Should UK government officials be allowed to send each other “disappearing messages” on WhatsApp? A High Court judge has ruled that two campaign groups can pursue their case to end the practice. Nonprofit groups Foxglove and the Citizens were given the go ahead on Tuesday to challenge the use of
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By Paul R. La Monica, CNN Business JPMorgan Chase CEO Jamie Dimon is not known for mincing words or hiding his emotions. So the fact that the leader of America’s largest bank sounds very upbeat about the health of the US economy is noteworthy. Dimon said he is not worried about the possibility of inflation
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By Anneken Tappe, CNN Business US inflation remains much higher than anyone would like — consumers, the White House, the Federal Reserve… In September, prices stayed high, returning to a 13-year peak after dipping a bit in August. Consumer price inflation — one of the key inflation indicators — rose 0.4% in September, adjustefor seasonal
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