Money

By Gregory Wallace, CNN (CNN) — The Biden administration on Friday proposed modest increases to fuel efficiency standards for the vehicles most Americans drive. The proposal fits alongside the administration’s push for increasing the share of electric vehicles on the roads. The US Department of Transportation is taking public feedback this summer and fall on

By Ella Nilsen, CNN (CNN) — As Texas bakes under a sweltering heat dome this summer and people crank their air conditioners, the state’s energy demand has smashed records. But the power has stayed on and prices haven’t spiked tremendously. Thank wind and solar, energy experts say. “Renewables have been performing very well this summer,

By Nicole Goodkind, CNN New York (CNN) — The meme traders are back. Shares of Tupperware (TUP) have exploded by about 165% this week and more than 300% over the last month for no discernible reason. The Florida-based container company has been in hot water for some time. Sales are on the decline and Tupperware

CNN By Nicole Goodkind, CNN New York (CNN) — The meme traders are back. Shares of Tupperware (TUP) have exploded by about 165% this week and more than 300% over the last month for no discernible reason. The Florida-based container company has been in hot water for some time. Sales are on the decline and

By Eva Rothenberg, CNN (CNN) — International airlines have reported significant profits this year, boosted by strong demand for leisure travel – and events, such as the World Cup, which gave Qatar Airways an enormous lift. On Thursday, International Airlines Group, which includes Aer Lingus and British Airways, announced a record profit of about $1.4

By Bryan Mena, CNN Washington, DC (CNN) — US wage gains cooled in the second quarter, showing some easing of inflationary pressures, according to data from the Bureau of Labor Statistics released on Friday. Wages and benefits paid to US workers rose 1% in the second quarter from the prior one, a slightly weaker pace

CNN By Bryan Mena, CNN Washington, DC (CNN) — US consumers have been feeling a whole lot better this summer as inflation has continued to slow. Consumer sentiment tracked by the University of Michigan rose 11% in July from the prior month, reaching its highest level since October 2021, according to a final reading of

By Alicia Wallace, CNN Minneapolis (CNN) — Another key economic report further propped up the idea that a soft landing is not only possible, but also in motion: The Federal Reserve’s preferred inflation gauge continued its deceleration in June while consumers kept the US economic engine running. Commerce Department data released Friday showed that the

By Chris Isidore, CNN New York (CNN) — ExxonMobil’s profit fell sharply in the second quarter on lower oil and natural gas prices, leaving earnings below Wall Street forecasts. The company earned $7.9 billion, or $1.94 a share, down 56% from a year earlier. Analysts surveyed by Refinitiv had forecast earnings of $2.01 a share.

By Mark Thompson, CNN (CNN) — Solid economic growth in France and Spain, and a very modest recovery in Germany could be enough to confirm that the euro area has already exited a recession that started in the final quarter of 2022. Official data showed that French GDP was up 0.5% in the April-June period,

By Rhea Mogul, CNN New Delhi (CNN) — A Bollywood film has been accused of trivializing the murder of millions during the Holocaust with flippant dialogue and a storyline that uses the Nazi’s death camps as a metaphor for relationship woes, prompting a prominent Jewish rights group to call for its removal from streaming platforms.

By Ramishah Maruf, CNN New York (CNN) — The maker of Oreo and Cadbury Dairy Milk chocolate is thanking an increased demand for sweets in the first half of the year for its positive forecast, Mondelez (MDLZ) International said in its second quarter earnings call Thursday. “We feel good about continued consumer confidence,” the company

By Danielle Wiener-Bronner, CNN New York (CNN) — Chick-fil-A is testing out two new restaurant concepts — a four-lane drive thru with a kitchen above and a walk-up store for digital orders — as it becomes the latest chain to try to get customers to skip the dining room. The drive-thru is set to open

By Elisabeth Buchwald, CNN New York (CNN) — US bank regulators advanced proposals on Thursday aimed at safeguarding the nation’s largest banks in the wake of three regional bank failures earlier this year. The new rules proposed by the Federal Reserve, Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation would

By Allison Morrow, CNN New York (CNN) — A woman is suing the billionaire investor Leon Black, accusing him of raping her at Jeffrey Epstein’s Manhattan townhouse when she was 16 years old. The lawsuit describes in gruesome detail the woman’s account of a sexual assault that left her bleeding and sobbing. Her lawyers say

By Chris Isidore, CNN New York (CNN) — Losses are going up on Ford’s electric vehicle business, but profit from its traditional internal combustion engine vehicles allowed it to beat Wall Street expectations. The company earned 72 cents a share in the second quarter on an adjusted basis, up from 68 cents a share and

By Clare Duffy, CNN Video by John General, Deborah Brunswick and Hazel Tang, CNN New York (CNN) — In mid-July at the construction site at 1 Java Street in Brooklyn, New York, the outside temperatures can reach sweltering highs in the 90s. But 500-feet underground, it’s 55 degrees all year round. That stable, underground temperature

By Danielle Wiener-Bronner, CNN New York (CNN) — McDonald’s is planning to test out a new restaurant idea, called “CosMc’s.” CosMc’s is named for a little-known McDonald’s character. He is an alien. “CosMc’s is a small format concept with all the DNA of McDonald’s but its own unique personality,” CEO Chris Kempczinski said during an