Money

By Mark Thompson, CNN Business Britain looks set to become the first major economy to hike interest rates since the Covid-19 pandemic began after inflation data showed prices rising at the fastest rate in a decade. Driven by higher energy and transport costs, the UK Consumer Prices Index rose by 4.2% in the year to

By Steven Jiang, CNN Business The United States and China have agreed to relax visa restrictions on each other’s journalists, according to officials from both countries. The deal addresses one source of contention in strained bilateral ties following a lengthy virtual meeting between Presidents Joe Biden and Xi Jinping on Monday. Under the agreement, the

By Sara Smart and Justin Lear, CNN As the holiday season approaches and many across the US are setting up their Douglas firs, white pines or spruce trees in the house, the US Consumer Product Safety Commission (CPSC) has sent out an alarming warning. The CPSC took to Twitter Saturday, posting a striking image of

By Parija Kavilanz, CNN Business Stores are having trouble quickly restocking baby formula onto shelves, as serious supply chain problems persist across the globe. Drug store chain Walgreens, which operates more than 9,000 locations across the United States, said demand for infant formula is increasing nationwide at the same time that its suppliers are struggling

By Frank Pallotta, CNN Business Netflix leads the streaming world with 213 million subscribers. Now the company is making it easier to see what they are watching. The platform is launching “Top 10 on Netflix,” a new stand-alone website that will showcase weekly global numbers for its most popular and bingeable content, the company announced

By Matt Egan, CNN Business Baseball’s newest superstar is lending his global celebrity status to one of the fastest-growing brands in the crypto world. On the heels of an historic season, Los Angeles Angels phenom Shohei Ohtani is joining cryptocurrency exchange FTX as a global ambassador and taking a stake in the company, FTX told

By Alicia Wallace, CNN Business In the search for workers in this tight labor market, companies have courted new hires with the promise of higher wages, sign-on bonuses, ample vacation time, and childcare. The latest: “No vaccine required.” That three-word phrase is popping up across online job listings (sometimes emphatically in all caps and accompanied

By Jordan Valinsky, CNN Business Restaurant drive-thrus have become too popular for their own good. Kentucky Fried Chicken wants its customers to ditch them. The chicken chain has created a new way for people to collect their orders, called Quick Pick-Up. Customers who want to use the new option can order ahead on its app

By Paul R. La Monica, CNN Business The stock market is booming. Unicorn startups are going public at a record clip. And many big companies are feeling the urge to merge. So it should come as no surprise that Wall Street bankers are expected to get big increases in their bonus checks this year. Compensation

By Walé Azeez, CNN Business A rise in global crude oil supply could put the brakes on surging gasoline prices that have hit record levels in parts of the United States and Europe. According to the International Energy Agency’s latest market report, global oil supplies jumped by 1.4 million barrels per day in October, with

By Allison Morrow, CNN Business Rivian, a 12-year-old startup with no revenue, is now the third most valuable carmaker in the world. The electric vehicle maker has been public for all of one week, but its share price has more than doubled in that time, valuing Rivian at more than $140 billion — just ahead

By Anneken Tappe and Nathaniel Meyersohn, CNN Business Americans keep spending even as prices are spiking. That’s good news for retailers heading into the holiday season, as well as for the economy as a whole, which runs on consumer spending. Adjusted for seasonal swings, US retail sales rose 1.7% in October compared to the previous