Money

by Vanessa Yurkevich, CNN Business A record-setting 10.7 million 20-foot containers passed through the Port of Los Angeles in 2021, up 13% from the previous record set in 2018. And that pace is set to continue, according to Gene Seroka, executive director of the Port of Los Angeles. “I don’t see us falling off a

By Paul R. La Monica, CNN Business Charlie Munger, the longtime pal of Berkshire Hathaway’s Warren Buffett, is apparently a very big fan of Alibaba… even though the 98-year-old has recently praised the Communist government of China for cracking down on the Chinese e-commerce company and cloud giant. Munger, who is a vice chairman at

By Jordan Valinsky, CNN Business Kentucky Fried Chicken is going to sell a new menu item that contains no chicken — but tastes like it does. The new plant-based fried chicken nugget alternative, called Beyond Fried Chicken, will be added to menus nationwide beginning Monday, Jan. 10 for a limited time. It marks the first

By Nathaniel Meyersohn, CNN Business At-home Covid-19 rapid test kits were already in short supply at stores. Now, a popular version is getting more expensive. Walmart and Kroger are raising prices on BinaxNOW test kits, made by Abbott Laboratories, after an agreement with the White House to sell the kits at cost expired. The White

By Paul R. La Monica, CNN Business If you can’t beat ’em, get bought by ’em. Trading card giant Topps — just a few months after losing out on a deal to renew its longtime licensing deal with Major League Baseball to sports apparel startup Fanatics — is now selling its collectibles and cards business

By Frank Pallotta, CNN Business Another NBC late night show has been disrupted by the pandemic. Seth Meyers — the host of the network’s “Late Night with Seth Meyers” — said on Tuesday that he has tested positive for Covid. “The bad news is, I tested positive for COVID (thanks, 2022!)” Meyers tweeted. “The good

By Paul R. La Monica, CNN Business Wall Street is having a topsy-turvy moment. Long-term Treasury yields have shot up dramatically, and investors in stocks are cheering the bond market’s big moves. That doesn’t happen often. So what gives? Rising rates are supposed to be a bad sign for stocks. In theory, higher yields for

Opinion by Jessica A. Roth for CNN Business Perspectives After three months of testimony and seven days of deliberations, the jurors in the trial of Elizabeth Holmes found her guilty on four charges of defrauding investors. But she was acquitted of four other charges related to the alleged scheme to defraud patients, and the jury

By Allison Morrow, CNN Business The world’s wealthiest people, whose fortunes already strained comprehension, collectively gained $1 trillion last year, according to Bloomberg’s Billionaires Index. Elon Musk, the world’s richest person, alone gained nearly $118 billion in just the last 12 months. Meanwhile, the United Nations estimated 150 million people fell into poverty in 2021.

By Jordan Valinsky, CNN Business Crystal Pepsi, the quirky, failed, clear cola from the 1990s is making a comeback. Pepsi is bringing back the soda for a limited-time run to celebrate its 30-year anniversary. However, Crystal Pepsi won’t be available to buy. Instead, it’s part of a contest where fans can win the beverage by

By Chris Isidore, CNN Business Toyota is the leader in US auto sales for the first time, taking away a title that General Motors had held for nearly a century. It’s yet another sign that US automakers have lost their dominance in their home market. As recently as 2005, Toyota was No. 4 in US

By Anneken Tappe, CNN Business A record 4.5 million Americans voluntarily left their jobs in November, according to the Bureau of Labor Statistics. This pushed the quits rate to 3%, matching the high from September. Workers were most likely to quit their jobs in the hospitality industry, which had by far the highest quits rate