Money

By Peter Valdes-Dapena, CNN Business Ford is investing $3.5 billion to build a battery plant in Michigan, a move that will help the automaker take advantage of more federal tax credits for electric vehicles. The plant will operate as a wholly owned subsidiary of Ford Motor Co. but will build batteries using “knowledge” and services

By Nicole Goodkind, CNN A new report about tariffs on underwear finds that when it comes to tax rates, women are getting shorts-changed. The average US tariff rate on women’s undergarments is 15.5%, compared to just 11.5% for men’s. That means women are being charged a tax that’s 35% higher than what their male counterparts

By Christine Romans, CNN Chief Business Correspondent If “transitory” was the buzzword for inflation watchers in 2021, this year it’s “supercore.” Federal Reserve officials and economists were taken to task for dismissing inflation as temporary earlier in the pandemic, so now they’re slicing and dicing inflation data in different ways. The new favorite: supercore inflation.

By Jeanne Sahadi, CNN Secure 2.0, the new retirement rules that lawmakers passed in late December, includes several provisions that will make the tax-free savings vehicle known as a Roth more accessible and flexible. And, in one instance, it will mandate that some higher-income earners put a portion of their 401(k) savings in a Roth

By Peter Valdes-Dapena, CNN Business Ram revealed the production version of its electric pickup in a Super Bowl commercial, and it turns out that it looks much like today’s internal combustion powered Ram 1500 truck, instead of the futuristic concept unveiled just last month. Stellantis, Ram’s parent company, had previously revealed a sleek looking concept

By Nicole Goodkind, CNN Everyone seems to be in a bit of a debt bind at the moment: The US government has run out of credit to spend, high inflation and interest rates have taken a big bite out of debt-laden tech companies that expected pandemic-era growth to continue and US credit card debt reached

By Paul R. La Monica, CNN With more states legalizing gambling on sports, Super Bowl LVII will probably be the biggest event for the industry ever. The American Gaming Association is predicting that more than 50 million people will bet about $16 billion on the National Football League championship game between the Kansas City Chiefs