By Julia Horowitz, CNN Business The first trading day of the year featured a major milestone for Corporate America and financial markets. What’s happening: On Monday, Apple became the first public company to reach a market value of $3 trillion when its shares briefly hit an all-time high. For comparison, the entire UK economy is
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By Danielle Wiener-Bronner and Matt Egan, CNN Business The White House on Monday offered a solution to surging meat prices: an action plan that includes investing $1 billion of American Rescue Plan funds to boost competition in the industry and promises to ramp up regulation and enforcement of anticompetition laws. But some experts say the
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By Laura He, CNN Business Walmart has been swept up in controversy in China after one of its retailers was accused of removing products sourced from Xinjiang. It’s more evidence of how difficult it has become for Western businesses to navigate international politics in China. The firestorm began late last month when people on Chinese
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By Laura He, CNN Business Troubled Chinese real estate developer Evergrande is trying to reassure investors about the impact of an official order to demolish a few dozen buildings in China. Chinese media reported over the weekend that authorities in Hainan province — a tropical resort island off the coast of southern China — had
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By Brian Stelter and Donie O’Sullivan, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. In an earlier era, journalists might have made certain assumptions about the aftermath of a violent attack on the Capitol. They might have expected unanimous condemnation and
Continue Reading By Brian Stelter and Donie O’Sullivan, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. In an earlier era, journalists might have made certain assumptions about the aftermath of a violent attack on the Capitol. They might have expected unanimous condemnation and
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By Peter Valdes-Dapena, CNN Business Tesla has opened a new showroom in Xinjiang, a region in western China that is purported to be the site of abuse and brutal repression of the country’s Uyghurs, a predominantly Muslim ethnic minority. The region has become a major geopolitical hotspot in recent years, and a key source of
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By Rhea Mogul and Esha Mitra, CNN The throngs of worshipers were mid-prayer when a man emerged from the crowd and jumped over the barrier, entering into the sanctum of Sikhism’s holiest shrine. He would not leave the Golden Temple alive. Within touching distance of Sikhism’s holy book, the man grabbed a bejeweled ceremonial sword
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By Paul R. La Monica, CNN Business Wall Street is having a topsy-turvy moment. Long-term Treasury yields have shot up dramatically, and investors in stocks are cheering the bond market’s big moves. That doesn’t happen often. So what gives? Rising rates are supposed to be a bad sign for stocks. In theory, higher yields for
Continue Reading By Julia Horowitz, CNN Business The first trading day of the year featured a major milestone for Corporate America and financial markets. What’s happening: On Monday, Apple became the first public company to reach a market value of $3 trillion when its shares briefly hit an all-time high. For comparison, the entire UK economy is
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By Anneken Tappe, CNN Business Start the year how you intend to spend it, right? For the Dow, that means at all-time highs. The index finished up 0.7%, or nearly 250 points, on Monday, logging a new record high on the first trading day of 2022. Similarly, the S&P 500, the broadest measure of Wall
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By Chris Isidore, CNN Business Toyota is about to become the leader in US auto sales for the first time, taking away a title that General Motors has held for nearly a century. It’s yet another sign that US automakers have lost their dominance in their home market. As recently as 2005, Toyota was No.
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By Peter Valdes-Dapena, CNN Business Mercedes has unveiled a new all-electric concept car, the EQXX, that the company claims can go 620 miles on a single charge. The futuristic luxury car is also made with a host of innovative recycled and sustainable materials including mushroom fibers, ground up cacti and trash such as food scraps.
Continue Reading By Paul R. La Monica, CNN Business Movie theater chain AMC was a darling of the meme stock crowd in 2021, soaring nearly 1,200% last year thanks to love from rowdy Reddit fans. So what does AMC plan to do for a sequel? For starters, it wants to clean up its balance sheet, which is
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By Paul R. La Monica, CNN Business Apple has reached yet another major milestone. The iPhone maker topped a market value of $3 trillion Monday — the first publicly traded company ever to be worth that much. Shares of Apple were briefly up about 3% to a new all-time high of $182.88, surpassing the $182.85
Continue Reading By Peter Valdes-Dapena, CNN Business Mercedes has unveiled a new all-electric concept car, the EQXX, that the company claims can go 620 miles on a single charge. The futuristic luxury car is also made with a host of innovative recycled and sustainable materials including mushroom fibers, ground up cacti and trash such as food scraps.
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By Paul R. La Monica, CNN Business The calendar has flipped to 2022 but investors are still partying like it’s 2021. Stocks remained near record levels Monday, the first trading day of the year, and investors are ramping up the greed. The CNN Business Fear & Greed Index, which measures seven indicators of Wall Street’s
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By Jeanne Sahadi, CNN Business Having to negotiate for what you want can feel like getting a root canal. You’d rather not do it, but sometimes it’s necessary. That’s especially the case when it comes to money. Whether you’re negotiating for a higher salary, trying to settle on a price for something you’re buying, or
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By Jordan Valinsky, CNN Business To comply with the Biden administration’s upcoming vaccine mandate, Starbucks is requiring its workers to be fully vaccinated against Covid-19 or undergo weekly testing, the company recently told employees. In a letter from Starbucks Chief Operating Officer John Culver, the coffee chain told its approximately 220,000 US employees they must
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By Matt Egan Goldman Sachs is joining a growing list of Wall Street firms advising employees to stay home due to soaring Covid cases. The bank sent a memo Sunday encouraging employees who can work remotely to do so until January 18, a Goldman Sachs spokesperson told CNN. Goldman Sachs cited “rising community infections” in
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