Money

By Matt Egan, CNN Business Progressive Democrats, including New York Rep. Alexandria Ocasio-Cortez, are calling on President Joe Biden to give the Federal Reserve a sweeping makeover by replacing Jerome Powell as chairman. “We urge President Biden to reimagine a Federal Reserve focused on eliminating climate risk and advancing racial and economic justice,” the lawmakers

By Diksha Madhok, CNN Business India’s economy grew at a record pace in the second quarter, even as the country grappled with a devastating wave of Covid-19. But Asia’s third largest economy isn’t out of the woods yet and remains smaller than at the start of the pandemic. GDP rose 20.1% in the three months

By Peter Valdes-Dapena, CNN Business Cruising up a highway heading north out of New York City, the bright white Jeep Grand Wagoneer I was driving got the sort of attention usually given to Lamborghinis and Ferraris. Other vehicles maneuvered to get a better look and smartphones were held out through car windows for a shot.

By Paul R. La Monica, CNN Business Zoom Video Communications was one of the clear winners of the pandemic economy. But as more people return to the office and classroom, the company now faces a bigger challenge: living up to Wall Street’s hype. Shares of Zoom plunged more than 15% Tuesday morning and are now

By Jordan Valinsky, CNN Business From coffee to candy to macaroni and cheese, it’s possible to think that pumpkin spice has peaked. Not so fast. Bud Light is releasing its first-ever hard seltzer featuring the fall flavor. The alcoholic beverage includes a blend of pumpkin, cinnamon, nutmeg and vanilla flavors that the company describes as

By Julia Horowitz, CNN Business As the economic recovery from Covid-19 has progressed this year, investors have had plenty of opportunities to place winning bets. Wagering against the bull run in stocks hasn’t been one of them. What’s happening: The S&P 500 and the Nasdaq Composite both closed at all-time highs on Monday after shares

By Jill Disis, CNN Business China’s economy stalled this month as the country tried to stamp out a surge in coronavirus cases and contended with the ongoing shipping crisis. An official survey of manufacturing activity fell to 50.1 in August from 50.4 in July. That was just above the 50-point mark indicating expansion rather than

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. On this day of history, with America’s war in Afghanistan officially over, I asked a cross-section of journalists and activists to weigh in on what’s next. Pretend to be an

By Jackie Wattles, CNN Business Astra — a startup that’s developing small, cheap rockets to deliver batches of satellites to space — attempted to put one of its 40-foot-tall rockets into orbit on Saturday, but the rocket failed during the launch. Rather than climbing skyward, the 43-foot-tall rocket hovered sideways off its launch pad before

By Chris Isidore, CNN Business Another Tesla has hit an emergency vehicle, apparently while using the Autopilot driver-assist feature, adding to a problem that is already the subject of a federal safety probe. The Florida Highway Patrol reported the accident just before 5 in the morning Saturday along Interstate 4 in Orlando. No one was

By Chris Isidore, CNN Business Hurricane Ida’s direct hit on the nation’s oil and gasoline industry could send gas prices higher, exacerbating inflation that’s already hurting American consumers. But how much prices will increase, and for how long, will depend on the extent of the damage. The storm hit Louisiana and the Gulf Coast on

By Frank Pallotta, CNN Business We now know when Jon Stewart is heading back to the airwaves. Well, the streaming airwaves, that is. “The Problem with Jon Stewart,” the comedian’s new current affairs series, debuts on Apple TV+ on September 30, the company said Monday. The series will premiere globally in biweekly installments rather than

By Jeevan Ravindran, CNN Nearly a century of leaded gasoline use on roads around the world has come to an end, the UN Environment Programme announced Monday, after Algerian service stations stopped selling the fuel last month. Leaded gasoline — which contains the compound tetraethyllead and is linked to serious health problems — was first

By Paul R. La Monica, CNN Business Shares of Affirm Holdings, the recently public fintech firm, soared more than 40% Monday morning following news that it is partnering with Amazon to roll out its buy-now-pay-later function for some purchases over $50. “By partnering with Amazon we’re bringing the transparency, predictability and affordability that Affirm provides