Money

By Anna Bahney, CNN Business Manhattan’s real estate market is making a comeback. Apartment sales surged in Manhattan during the third quarter, hitting the highest level in more than 32 years as more people get vaccinated and return to in-person school and work. Home sales in New York City cratered during the pandemic — especially

By Matt Egan, CNN Business Gary Gensler, the chairman of the Securities and Exchange Commission, warned lawmakers Tuesday that a US default would likely set off historic stress in financial markets because Treasuries are the bedrock of the entire system. “Although we don’t know for sure, we’d have significant volatility in the markets and we’d

By Matt Egan, CNN Business Cotton prices jumped to fresh 10-year highs on Tuesday, joining a long list of booming commodities and raw materials. Cotton futures climbed 4% to nearly $1.09, the highest level since September 2011. The commodity is up 22% in the past two weeks alone. The cotton spike could eventually be passed

By Chris Isidore, CNN Business A former worker at Tesla’s Fremont, California, factory was subjected to a racially hostile workplace, according to a federal jury, which awarded him $136.9 million in damages Monday. Owen Diaz, the plaintiff in the case, reported he regularly heard racial slurs, including the n-word, on the Fremont factory floor, and

By Paul R. La Monica, CNN Business October has often been a spooky month on Wall Street. Stocks famously crashed in October 1929, 1987 and, most recently, 2008. But the market isn’t always a terrifying place to be just before Halloween. In fact, stocks typically go up in October. According to data from Ryan Detrick,

By Jordan Valinsky, CNN Business Wendy’s much-beloved Frosty isn’t only for dessert, anymore. It’s for breakfast, too. The fast food chain is partnering with Kellogg to make “Wendy’s Frosty Chocolatey Cereal,” a limited-edition item that transforms the milkshake’s chocolatey taste into cereal form. It hits grocery store shelves in December for a suggested price of

By Danielle Wiener-Bronner, CNN Business The holidays may not be back to normal this year. But spooky Peeps are back. Last year Just Born, the candy company behind the marshmallow bunnies and chicks, paused production on its non-Easter holiday Peeps. That meant anyone seeking Halloween or Christmas-themed Peeps in 2020 was out of luck. Same

By Anneken Tappe Stocks staged a rebound Tuesday, rallying across the board as Wall Street bounced back from a sell-off at the start of the week. The Dow closed up 0.9% or 312 points, while the S&P 500 finished 1.1% higher. The Nasdaq Composite closed up 1.3%. In fact, everything went up Tuesday: While stocks

By Walé Azeez, CNN Business The United Kingdom is suffering from fuel shortages, gaps on supermarket shelves, rising inflation and slowing economic growth. Prime Minister Boris Johnson insists he isn’t worried — but should he be? Johnson has in recent days brushed aside concerns about snarled supply chains and price hikes, saying they are consistent

By Paul R. La Monica, CNN Business The whirlwind ride for bitcoin continues. The price of the world’s most valuable cryptocurrency soared above $50,000 Tuesday morning — the highest level in nearly four weeks. Although there was no specific catalyst driving bitcoin’s recent surge, digital asset investment firm CoinShares notes investors have been plowing money

By Matt Egan, CNN Business Oil prices on Tuesday climbed to their highest level in nearly seven years after OPEC and its allies declined to significantly ramp up production. US crude jumped another 1.4% to settle at $78.93 a barrel. For much of the day, it was trading above $79 a barrel, a level unseen

By Jordan Valinsky, CNN Business Grey Poupon is doubling down on its hoity-toity image with a new white wine. It’s introducing La Moutarde Vin, a limited-edition “celebration” of the white wine used in the mustard recipe. The wine, which is intended for “making lunch feel like a feast” according to a press release from Kraft

By Julia Horowitz, CNN Business Facebook is having a terrible few days. But there are reasons investors may not abandon the company for long. What’s happening: Big Tech shares tumbled Monday as concerns about inflation pushed investors to pare back their exposure to the sector. But Facebook — which suffered an hours-long outage across all

By Matt Egan, CNN Business Senator Elizabeth Warren on Monday urged the Securities and Exchange Commission to launch an insider trading investigation into transactions by high-level officials at the Federal Reserve. The Massachusetts Democrat called for the agency to conduct a “sweeping review of all securities trades” by Fed officials to determine if they violated