Money

By Chris Isidore, CNN Business Tesla shook off supply chain issues to more than triple earnings from year-ago results, easily topping Wall Street’s expectations for the quarter. The company had adjusted earnings of $2.9 billion, up sharply from $903 million a year earlier and well above $2.6 billion forecast by analysts surveyed by Refinitiv. Revenue

By Anna Bahney, CNN Business Rents are continuing to rise across the US. The cost of rent, on average, was 10.1% higher in 2021 than in 2020, growing five times faster last year than it did in the first year of the pandemic, according to Realtor.com’s Monthly Rental Report. By December, national rents had the

By Anneken Tappe, CNN Business The Federal Reserve is getting ready to raise interest rates, the central bank said in its monetary policy update Wednesday. But it kept rates near zero for now. “With inflation well above 2% and a strong labor market, the Committee expects it will soon be appropriate to raise the target

By Danielle Wiener-Bronner, CNN Business Bad news for coffee lovers: Climate change will make it much harder to grow Arabica coffee in the coming years, according to a study published Wednesday in the scientific journal Plos One. The study examined how coffee-growing conditions will change by 2050 based on projections from several global climate models.

By Nathaniel Meyersohn, CNN Business The makers of top food and consumer goods brands plan to raise prices in the spring, dashing shoppers’ hopes for a quick drop in their grocery bills. Kraft Heinz said in a recent letter to its customers that it will raise prices in March on dozens of products, including Oscar

By Anna Cooban, CNN Business Electric vehicles grabbed a much bigger share of the global car market last year as sales more than doubled despite turbulent economic conditions and a severe shortage of computer chips. Global sales of battery electric vehicles increased to 4.5 million last year from 2.1 million in 2020, according to data

By Peter Valdes-Dapena, CNN Business It wasn’t exactly “The Fast and the Furious” — pretty much the opposite — but the 1988 Oscar winning film “Rain Man” featured cars as an integral part of the story. And the movie’s most famous car, a 1949 Buick Roadmaster, is up for auction. The beige convertible has been

By Paul R. La Monica, CNN Business It’s a magical world again for Mattel. The toy company won back the rights to make dolls based on Disney’s princess characters, including Frozen’s Elsa and Anna, Jasmine from “Aladdin” along with Snow White, Cinderella, Ariel, Moana and other Disney heroines. Mattel rival Hasbro took over the Disney

By Celine Alkhaldi, Eoin McSweeney and Hamzeh Noami, CNN Casino operator Wynn Resorts has inked a deal to build a luxury resort in Ras Al Khaimah in the United Arab Emirates. “The planned destination will feature a luxury hotel with more than 1,000 rooms, world-class shopping, state-of-the-art meeting and convention facility, an exclusive spa, more

By Jordan Valinsky, CNN Business McDonald’s fans have long been creating menu hacks like using hash browns as a bun. Now the chain is putting some of them on the menu. Beginning January 31 and for a limited time, McDonald’s will sell four menu hacks popularized by its biggest fans. It’s the first-time ever that

Opinion by Dana Peterson for CNN Business Perspectives Prices are rising for nearly everything, biting into everyone’s income. But the surging cost of food, specifically, hits especially hard, exacerbating the wealth and income disparities between the richest and poorest Americans. The Federal Reserve has been patient throughout the Covid-19 pandemic about achieving full employment to