Money

Robert Iddiols and Charles Riley, CNN Business The United Kingdom and New Zealand have struck a free trade agreement that will reduce tariffs on bulldozers, wine, buses and clothing. The draft deal, which follows 16 months of negotiations, is the latest to be brokered by the United Kingdom after its departure from the European Union.

By Chris Isidore, CNN Business Tesla reported record earnings that blew past Wall Street forecasts, as the company was able to shake off the effects of a shortage of computer chips and other raw materials that has dogged the auto industry in recent months. The company reported operating earnings of $2.1 billion, up 30% from

By Peter Valdes-Dapena, CNN Business For a lot of people there is one real Ford Mustang. It’s the Ford Mustang GT coupe with the big 5.0-liter gasoline-burning 460 horsepower V8 engine and just two doors. These people do not accept the validity of the Mustang Ecoboost with its 310 horsepower turbocharged four-cylinder engine. And they

By Sean Lyngaas, CNN Business The hacking tool used in a ransomware attack that disrupted programming at Sinclair Broadcast Group is similar to malicious code previously used by a Russian crime group sanctioned by the US government, according to a security researcher who has viewed the ransom note. The code also overlaps with previous hacking

By Paul R. La Monica, CNN Business Verizon reported earnings that topped forecasts Wednesday morning and issued a more upbeat outlook for 2022. That’s some much-needed good news for the company, which has been the Dow’s worst-performing stock this year, falling about 10%. Overall, the Dow is up about 16% in 2021, making Verizon’s underperformance

By Paul R. La Monica, CNN Business The bitcoin bull market is showing no signs of slowing down. Bitcoin, the world’s most valuable cryptocurrency, hit a new all-time high of nearly $67,000 Wednesday, topping the previous record set in April. Bitcoin prices have surged 50% this month, from just under $44,000 at the end of

By Chris Isidore, CNN Business Virtually every US home contains items that came through the ports of Los Angeles or Long Beach. The neighboring ports, a mere two nautical miles from each other, are the two largest in the country, measured by containters handled — with Los Angeles holding the top spot. Imports from Asia

By Matt Egan, CNN Business Facing a mounting supply chain crisis, the White House is exploring whether to deploy the National Guard to ease bottlenecks, though that option is viewed as unlikely, a person familiar with the matter told CNN. Business groups have urged the Biden administration to consider out-of-the-box ideas to address the supply

By Julia Horowitz, CNN Business Procter & Gamble, the consumer goods giant that makes Pampers diapers, Crest toothpaste and Tide detergent, says that running its business is far from simple right now. “Supply chains are under pressure from tight labor markets, tight transportation markets and overall capacity constraints,” Chief Financial Officer Andre Schulten told analysts