Money

By Laura He, CNN Business China’s real estate crisis is escalating, raising concerns about growing risks in the banking system. Desperate homebuyers across dozens of cities are refusing to pay mortgages on unfinished homes, according to state media reports and economists at international banks. In China, real estate firms are allowed to sell homes before

By Anna Cooban and Livvy Doherty, CNN Business Emirates airline has blasted one of the world’s busiest airports for its “incompetence” in failing to handle a surge in passengers. The Dubai-based airline on Thursday slammed demands made by London’s Heathrow airport earlier this week that carriers stop selling any more tickets for this summer. The

By Sean Lyngaas, CNN In the days before the January 6, 2021, insurrection, Chinese hackers sent out a flurry of malicious emails to prominent White House correspondents and other journalists at major US news outlets in an apparent intelligence collection effort, US cybersecurity firm Proofpoint said Thursday. As Chinese hackers scrambled to ascertain whether there

By Anna Bahney, CNN Business Rent continued to skyrocket to new record highs in Manhattan last month. The median monthly rent paid by a tenant for a condo or coop in Manhattan climbed to $4,050 in June, up nearly 25% from a year ago and setting a new record high for the fifth month in

By Alexandra Peers, CNN Business A bottle of Champagne has sold for $2.5 million, eclipsing the auction record for bubbly and likely becoming the most expensive bottle of wine ever sold. But there’s a fizzy gimmick: the magnum of Champagne Avenue Foch, 2017, comes with a single NFT that includes the digital art and intellectual

Opinion by Suzanne DiBianca for CNN Business Perspectives The US Supreme Court’s ruling limiting the EPA’s authority to regulate greenhouse gas emissions is a wake-up call for Congress to pass urgent and meaningful legislation on climate and clean energy. The ruling not only impedes the federal government’s ability to slow climate change — it also

By Julia Horowitz, CNN Business When the latest data on consumer prices in the United States landed Wednesday, the headline number was ugly. Inflation surged to 9.1% in June, according to data from the Bureau of Labor Statistics. That was higher than economists polled by Refinitiv were forecasting. It was also much higher than the

By Chris Isidore, CNN Business A bad quarter for Delta Air Lines passengers turned into a bad quarter for Delta investors, as the costs of service disruptions, coupled with high fuel prices and rising pay for employees, caused the company to fall well short of earnings forecasts. Delta posted adjusted earnings of $735 million in

By Laura He, CNN Business A scorching heat wave in China has forced a major manufacturing region to appeal to businesses and households to use less power, while fear of crop failure is sending pork prices soaring. Dozens of cities have been experiencing record-high temperatures at a time when the economy is still trying to