Money

By Anneken Tappe, CNN Business The Dow and the broader US stock market fell to close sharply lower Monday as Chinese real estate conglomerate Evergrande’s debt crisis made American investors uneasy. It was the worst performance since May for the S&P and the Nasdaq, while the Dow logged its worst day since July. Stocks spent

By Diksha Madhok, CNN Business France is threatening to block talks on a planned free trade agreement between Europe and Australia after the Australian government ditched a huge deal to buy French submarines. The French government has been seething ever since Australia abandoned its $90 billion Australian dollars ($65 billion) deal last week with France

By Hanna Ziady, CNN Business UK supermarkets could face shortages of meat and other fresh food within weeks after soaring gas prices prompted a major US fertilizer manufacturer to suspend production, turning off most of Britain’s supply of carbon dioxide to the food and drink industry in the process. Illinois-based CF Industries said last week

By Laura He, CNN Business Evergrande’s debt crisis is continuing to unsettle investors in Asia and raising concerns about whether a potential default by the troubled Chinese conglomerate could spill over to other parts of the economy. Shares of Evergrande Group plummeted 10% in Hong Kong on Monday, hitting just 2.28 Hong Kong dollars ($0.29)

By Rishabh M Pratap, CNN and Reuters At least 180 people have died in the west Indian state of Maharashtra after torrential monsoon rains caused landslides and flooded low-lying areas, cutting off hundreds of villages. At least 38 people were killed in Taliye, 180 kilometers (110 miles) southeast of the financial capital Mumbai, when a

By Peter Valdes-Dapena and Rob McLean, CNN Business Look out, Ford F-150: Another hybrid pickup truck is hitting the market. Toyota announced Sunday that its latest version of the Tundra pickup includes the option for a hybrid twin-turbo V6. The system, according to Toyota, will give the vehicle more power and torque. One thing the

Ramishah Maruf, CNN Business SpaceX founder Elon Musk pledged to donate $50 million to St. Jude Children’s Research Hospital, helping exceed the $200 million fundraising goal set for last week’s Inspiration4 space mission. Musk tweeted, “Count me in for $50M” in response to a public call for donations from Inspiration4 on Saturday. The capsule splashed

By Ramishah Maruf, CNN Business Four little words — “do your own research” — are hurting the US pandemic response, CNN’s chief media correspondent Brian Stelter said on “Reliable Sources” Sunday. And it is having real consequences as personalities from Nicki Minaj to Sean Hannity continue to promote the idea. Minaj helped raise doubts about

By Ramishah Maruf, CNN Business Samuel Adams is launching a new, limited edition beer, and it packs such a potent punch it’s illegal in 15 states. The brewer releases a new version of its Utopias brand every two years, and the twelfth edition will be on shelves starting Oct. 11. But don’t bother looking for

By Julia Horowitz, CNN Business Mention the word “stagflation” to someone who followed the economy in the 1970s, and you can expect a strong reaction. The phenomenon — which describes a period of high inflation and stagnant economic growth — was a nightmare for policymakers, leaving them with few options to rein in runaway prices

By Ramishah Maruf, CNN Business Sears will shut the doors on its last department store in Illinois come fall; the state in which its first retail store opened in 1925. The Sears department store in the Woodfield Mall in Schaumburg, a Chicago suburb, will close on November 14. Transformco, which acquired Sears Holdings after the

By Ramishah Maruf, CNN Business German sports retailer Puma is collaborating with Nintendo’s Animal Crossing: New Horizons, bringing a few elements of the popular world-building game to real life. The new collection, which launched Saturday, has dozens of products for adults and children, featuring sneakers and clothing in pastel shades festooned with animal characters and

By Peter Valdes-Dapena, CNN Business After Bart Schoenfeld’s Chevrolet Bolt EV was recalled for the second time, he’d had enough. GM had warned that some of the cars could have a manufacturing defect that might cause them to catch fire. For safety’s sake, the automaker recommended Bolt owners restrict their use of the car to

By Chauncey Alcorn, CNN Business The Federal Deposit Insurance Corporation on Thursday unveiled a new fund to increase investments made with the nation’s minority-owned and mission-driven banks, helping them expand economic opportunities in the communities they serve. The FDIC said the Mission-Driven Bank Fund has raised at least $120 million since 2019 from a number