Money

By Julia Horowitz, Isil Sariyuce and Jomana Karadsheh, CNN Business Turkey is plunging into a fresh currency crisis as investors dump the lira in response to the extraordinary decision by the country’s central bank to slash interest rates in the face of soaring inflation. The lira stabilized on Wednesday but suffered a huge fall against

By Parija Kavilanz, CNN Business Gap said it lost $300 million in sales heading into the holiday season because of Covid-related factory closures, and backlogs at ports that significantly stalled its ability to get merchandise into stores on time. “While we had planned into the known supply chain constraints …. the shock to our business

By Paul R. La Monica, CNN Business Nobody in their right mind likes to pay higher prices for stuff. But if you’re an investor, there is a way to profit from inflationary trends — and it might be time to start adjusting your portfolio accordingly. Consumer staples giants like Coca-Cola and Pepsi can benefit from

By Matt Egan Drivers hitting the road this Thanksgiving will be greeted by the highest prices at the pump in nearly a decade. The average prices consumers paid for regular gasoline stood at $3.40 a gallon on Monday, according to a new report from the government. That’s the highest price on the Monday before Thanksgiving

By Anneken Tappe, CNN Business US price surges eased in the third quarter of the year. But they climbed to a more than 30-year high in October — showing the pandemic price hikes are clearly not behind us yet. A deluge of economic data ahead of the Thanksgiving holiday highlights how the pandemic economy is

By Julia Horowitz, CNN Business Economists around the world are closely watching a resurgence of coronavirus cases across Europe for signs of what may be to come this winter. What’s happening: The spike in cases is feeding fears that the region’s strong economic recovery from the pandemic could be in jeopardy. So far, the new

By Chris Isidore, CNN Business John Deere posted record annual income Wednesday despite the recently concluded five-week worker strike, and it predicted another record year ahead. The Midwest farm and construction equipment maker posted annual net income of nearly $6 billion, more than double the $2.8 billion it earned a year earlier and easily clearing

By Diksha Madhok, CNN Business India is flirting with a ban on cryptocurrencies. Prime Minister Narendra Modi’s government on Tuesday said that it is preparing to introduce a bill that would regulate digital currencies. There’s still much that’s unknown about the proposal. A cryptically worded description of the bill posted on the Indian parliament website

By Julia Horowitz, CNN Business A resurgence of coronavirus cases across Europe is feeding fears that the region’s strong economic recovery from the pandemic could be jeopardized by another tough winter. So far, the new Covid-19 wave is having only a limited impact on business activity in the 19 countries that use the euro. The

By Matt Egan, CNN Business For months, OPEC and its allies refused pleas from Washington and other world capitals to pump more oil. Now, a US-led coalition of consuming nations is coming together to effectively say: Fine, if you won’t act, we will. The White House announced Tuesday that India, Japan, South Korea and the