By Anna Bahney, CNN Business The real estate market was on fire last year, with the frenzied pace of sales activity pushing home prices to record highs. The median home sales price was $346,900 in 2021, up 16.9% from 2020, and the highest on record going back to 1999, according to the National Association of
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By Vanessa Yurkevich, CNN Business Wages are not keeping up with inflation. The price of cars has grown significantly faster than earnings, a new analysis by the Anderson Economic Group found. The price of new and used cars increased by 11.8% and 37.3% respectively in December 2021 from December 2020, while wages increased by 4.9%
Continue Reading By Anna Bahney, CNN Business The real estate market was on fire last year, with the frenzied pace of sales activity pushing home prices to record highs. The median home sales price was $346,900 in 2021, up 16.9% from 2020, and the highest on record going back to 1999, according to the National Association of
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By Jordan Valinsky, CNN Business If the thought of using a slice of bologna as a moisturizing face mask was tempting, you’re out of luck — for now. Oscar Mayer’s bologna-inspired face mask sold out less than a day after its release on Amazon. Kraft Heinz blamed the shortage on “unexpected incredibly high demand” and
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By Chris Isidore, CNN Business Both American Airlines and United Airlines reported better-than-expected financial results, despite problems brought on by the Omicron surge during the holiday travel period. But both said they expect problems from the variant early this year. American, the nation’s largest airline, lost $921 million in the quarter, excluding special items. That
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By Julia Horowitz, CNN Business The pandemic will continue to stoke uncertainty and inflation in its third year, undermining the global recovery from the coronavirus and pushing total economic losses toward $14 trillion. That’s according to the International Monetary Fund, which on Tuesday slashed its global growth forecast for 2022 by half a percentage point
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By Charles Riley, CNN Business It’s been a year since President Joe Biden took the reins at the White House. How’s the stock market doing? The answer is pretty darn good. The S&P 500 has increased nearly 18% since Biden took office on January 20, 2021, hitting a slew of new record highs along the
Continue Reading By Charles Riley, CNN Business It’s been a year since President Joe Biden took the reins at the White House. How’s the stock market doing? The answer is pretty darn good. The S&P 500 has increased nearly 18% since Biden took office on January 20, 2021, hitting a slew of new record highs along the
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By Matt Egan, CNN Business If Russia invades Ukraine, inflation-weary Americans will likely pay even higher prices at the pump. Oil prices have already shot up to seven-year highs in recent days. A conflict between Russia and Ukraine, which the White House has warned could be imminent, would have the potential to drive them much
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By Anna Cooban and Chris Liakos, CNN Business Major international airlines have resumed normal service after a slew of cancellations on Wednesday over fears the rollout of 5G mobile networks in the United States would compromise safety. British Airways, Lufthansa, All Nippon, Japan Airlines and Emirates all announced cancellations or changes to flights to the
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By Chris Isidore, CNN Business Relief from record high auto prices could be coming soon. But that doesn’t mean those prices will go back to where they were before the pandemic. A shortage of necessary parts — primarily computer chips — limited production of new vehicles around the globe. That left car dealers short of
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By Frank Pallotta, CNN Business Netflix is set to report fourth-quarter earnings on Thursday. Typically, Wall Street’s eyes would be set squarely on the streamer’s subscriber growth. But this time, there’s something new for investors and industry observers to look at: Netflix’s sales projections after it raised its prices. The company boosted subscriber fees Friday,
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By Nathaniel Meyersohn, CNN Business Amazon has a new venture outside of e-commerce, cloud computing, content streaming, smart devices, Whole Foods, cashier-less technology or anything else you’ve come to associate with one of the most successful companies in American history. It’s a physical clothing store. Like, you know, a real brick-and-mortar space where you go
Continue Reading By Nathaniel Meyersohn, CNN Business Amazon has a new venture outside of e-commerce, cloud computing, content streaming, smart devices, Whole Foods, cashier-less technology or anything else you’ve come to associate with one of the most successful companies in American history. It’s a physical clothing store. Like, you know, a real brick-and-mortar space where you go
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By Jordan Valinsky, CNN Business From M&Ms’ mascots becoming more inclusive to a bologna face mask, there was lots of wild food news this week. We’ve done the dutiful task of rounding it all up if you need a change of pace from the doom and gloom of all that other “news.” Here’s what happened:
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By Danielle Wiener-Bronner, CNN Business M&M’s branding is getting a refresh. The candy’s anthropomorphized chocolate characters are being made over, and the logo is also getting a tweak. But the most noticeable change is to the six M&M characters: new shoes. Green has swapped her go-go boots for sneakers. Brown is sporting lower, more sensible
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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. With China set to host the 2022 Winter Games in two weeks’ time, Olympic broadcaster NBCUniversal says it will acknowledge the “geopolitical context” of the games, but the athletes will
Continue Reading 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. With China set to host the 2022 Winter Games in two weeks’ time, Olympic broadcaster NBCUniversal says it will acknowledge the “geopolitical context” of the games, but the athletes will
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By Laura He, CNN Business China keeps slashing lending rates as authorities ramp up their efforts to stave off a sharp economic slowdown. The People’s Bank of China on Thursday cut its one-year loan prime rate by 10 basis points to 3.7%, the second cut to the rate in a month. December’s cut was the
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By Danielle Wiener-Bronner, CNN Business Starbucks is no longer requiring employees to get vaccinated or submit to weekly testing, following the US Supreme Court’s rejection last week of President Joe Biden’s vaccine and testing requirement for large businesses. In a letter published on January 4, the coffee company recommended that its workers get vaccinated by
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