CNN – Business/Consumer

By Chris Isidore, CNN Business Tesla reported stronger-than-expected second quarter, with a record net income of $1.1 billion. It was far more than double the $438 million it made in the first quarter, and more than 10 times the net income it reported a year ago. And it answered a major criticism of investors who’ve

By Paul R. La Monica, CNN Business Chip giant Nvidia is the ninth-most valuable company in the S&P 500. With a market capitalization of almost $500 billion, the company is now worth nearly as much as semiconductor rivals Intel, Advanced Micro Devices and Qualcomm — combined. Could Nvidia soon wind up listed on the venerable

By Alexis Benveniste, CNN Business Amazon listed a job opening for a digital currency and blockchain product lead, sending cryptocurrencies soaring Monday. Bitcoin climbed to a six-week high of nearly $39,043, while ethereum reached $2,363. Dogecoin was last trading at about 22 cents per coin, giving it a $28.8 billion market cap. As of Monday

By Chris Isidore, CNN Business A proposed $30 billion insurance industry merger is off, one month after the Justice Department’s antitrust regulators sued to block it. It’s another sign of the tough stance the Biden administration is taking against corporate deal-making. The deal between Aon, which is incorporated in England and Wales, and Ireland-based Willis

By Anneken Tappe, CNN Business Goldman Sachs slashed its forecast for US economic activity in the second half of the year, pointing to sluggish consumer spending on services as well as the threats posed by the Covid-19 Delta variant. During the pandemic and the start of the recovery, Americans spent big on goods: Used car

By Frank Pallotta, CNN Business The Tokyo Olympics officially kicked off this weekend, and on the face of it, the ratings for Friday’s opening ceremony looked like a flop. According to early numbers, only 17 million people watched the opening ceremony on TV in the US. That’s down a sharp 36% from the Rio 2016

By Hanna Ziady, CNN Business Philip Morris International says it will stop selling Marlboro cigarettes in Britain within a decade as it called on the UK government to ban the sale of its tobacco products. The remarks come amid dwindling smoker numbers in the United Kingdom — where cigarettes have been sold in plain packaging

By CNN Business Staff Chinese officials are turning their crackdown on private business to yet another industry: education. A slew of big Chinese education and private tutoring companies are reeling from new rules barring them from turning a profit or raising funding on stock markets, with some warning that the regulations will hurt their business.

By Michelle Toh, CNN Business Cryptocurrencies rallied Monday, just a week after they were hit by a major sell-off. As of 4:45 a.m. ET on Monday, bitcoin, ethereum and dogecoin had soared 10%, 7.3% and 11%, respectively, over the past 24 hours, according to data from CoinDesk. Bitcoin climbed to a six-week high of nearly

By Alexis Benveniste, CNN Business Veteran journalist and author Carl Bernstein called former President Donald Trump a “war criminal” on “Reliable Sources” Sunday. “I think we need to calmly step back and maybe look at Trump in a different context,” Bernstein told CNN’s chief media correspondent Brian Stelter, adding that Trump is “our own American

By Chris Isidore, CNN Business Tesla is the most secretive automaker on the planet, so investors are always eager to pore through its quarterly report and conference call, when they finally can get more than tweet-sized morsels of information. The last two quarterly results have disappointed them. Shares have fallen nearly 30% from their record

By Anneken Tappe, CNN Business The Federal Reserve was already keeping a close eye on rising prices. Now it has to contend with the Delta coronavirus variant. The highly contagious Delta variant of Covid-19 is racing across the globe, causing a shortage of workers in the United Kingdom and heaping stress on the battered global

By Sara O’Brien, CNN Business After a nearly three-week strike, hundreds of Frito-Lay employees in Topeka, Kansas have ratified a revised contract Saturday addressing what union leaders had previously described as a diminished quality of life stemming from work conditions, including long hours, forced overtime, and stagnating wages. The contract will provide workers with a

By Alaa Elassar, CNN Nothing gets cheddar than this… The Kraft Heinz Company has partnered with Brooklyn-based Van Leeuwen Ice Cream to introduce a limited-edition macaroni and cheese flavor of ice cream. “We know that there is nothing more refreshing on a hot summer day than ice cream. That is why we wanted to combine

By Chris Isidore, CNN Business GM is once again recalling nearly 70,000 Chevrolet Bolt electric vehicles because of a risk that the battery will catch fire when the car is parked. The company does not have a fix for the problem that has been tied to at least nine fires nationwide since early 2020. The