Money

By Matt Egan, CNN Business Americans grappling with historic levels of inflation are finally getting some relief where they need it most: Previously-booming energy prices. After a relentless rise, prices at the pump are heading south. The national average price for a gallon of regular gas fell to a seven-week low of $3.35 a gallon

By Chris Isidore, CNN Business Workers at four Kellogg cereal plants have rejected a tentative labor deal, voting to continue their two-month long strike at the company, the union announced Tuesday. The union did not disclose the vote count among its 1,400 members at Kellogg, other than to say the rejection of the offer was

By Paul R. La Monica, CNN Business Heading into the start of 2021, Robinhood was expected to be one of the most successful initial public offerings of the year. Robinhood was widely hyped and praised by investors for helping democratize Wall Street trading. What could go wrong? A lot, as it turns out. Even though

By Swati Gupta and Amy Woodyatt, CNN A teenager has been arrested in western India for beheading his 19-year-old sister while his mother allegedly held the young woman’s legs, according to police. The victim, who got married against her parents’ wishes, was two months pregnant, police told CNN Tuesday, citing her husband. The incident happened

By Ramishah Maruf, CNN Business Christian Chapman, a former underwriter at Better.com, thought he was logging onto another of CEO Vishal Garg’s town halls. He didn’t know it would be his last call as an employee of the online mortgage company. “If you’re on this call, you are part of the unlucky group that is

By Anneken Tappe, CNN Business The US stock market was off to the races on Tuesday, extending its rally from the start of the week as all three major indexes were sharply higher. The S&P 500, Wall Street’s broadest gauge, finished the day up 2.1%, while the Dow rose 1.4%, or just under 500 points.

By Mostafa Salem and Walé Azeez, CNN Business The United Arab Emirates and its international finance hub Dubai are switching to a four-and-a-half-day work week ending at midday Friday to make it easier to do business globally. The move away from the current Sunday to Thursday schedule — the first by a Gulf state —

By Anneken Tappe, CNN Business US labor market productivity tanked in the third quarter. Paychecks grew and the number of hours worked jumped, but workers’ output increased only at a moderate pace. Revisions to the data that were initially published a month ago show that the productivity drop was even worse than feared, falling 5.2%

By Julia Horowitz, CNN Business For years, the future of the department store has been in doubt, as shoppers abandon malls and instead opt to scoop up dresses, appliances and accessories online. But some investors believe they’ve found a clever way for these once-mighty brands to move forward. What’s happening: Activist shareholders are increasingly pushing

By Chris Isidore, CNN Business Doug Parker will retire in March as CEO of American Airlines, the airline that he made the world’s largest through a series of mergers that led to a massive consolidation of the US airline industry. Parker, 60, will be succeeded by Robert Isom, who has served as the company’s president

By Matt Egan, CNN Business Hertz has gone from bankruptcy court to buybacks in the span of five months. And Senator Elizabeth Warren is not happy about it. The Massachusetts Democrat wrote Hertz a letter Monday calling the company out for rewarding shareholders with up to $2 billion in stock buybacks despite skyrocketing rental car

By Tami Luhby, CNN Business The coronavirus pandemic has worsened the massive financial gap between rich and poor around the world, a new report has found. Global billionaires last year enjoyed the steepest increase in their share of wealth since the World Inequality Lab began keeping records in 1995, according to the research group’s analysis