Money

By Matt Egan, CNN Business America’s national debt just hit another sobering milestone. Total public debt outstanding is now above $30 trillion, according to Treasury Department data published Tuesday. Government borrowing accelerated during the Covid-19 pandemic as Washington spent aggressively to cushion the economic blow from the crisis. The national debt has surged by about

By Chris Isidore, CNN Business General Motors reported record earnings for 2021, despite struggling with a shortage of computer chips and other parts that crimped its ability to build and sell all the cars and trucks it wanted. Quarterly earnings reached nearly $2 billion, excluding special items, topping the consensus forecast of $1.7 billion from

By Peter Valdes-Dapena, CNN Business In a few years, cars going down a road in a historic section of Detroit will theoretically be able to charge their batteries as they drive. That’s the goal of an Israeli company that is finalizing an agreement with the state of Michigan’s Department of Transportation to build the roughly

By Frank Pallotta, CNN Business Spotify wants to be the everything-for-everyone audio company. But it’s 2022, and that’s proving impossible. Neil Young and Joni Mitchell asked Spotify last week to pull their music from the platform because of Joe Rogan, who has made frequent false and inaccurate claims about Covid-19 and vaccines on his very

By Allison Morrow, CNN Business If Joe Rogan wasn’t already a household name before last week, he almost certainly is now. His Spotify-based podcast’s Covid commentary created a backlash that led several musicians and customers to boycott the platform. So, who is Rogan? He’s someone who requires a lot of slashes: Comedian/commentator/podcast host/media personality. Rogan,

By Matt Egan, CNN Business Energy prices remain uncomfortably high, and OPEC and its allies are under pressure to come to the rescue. The good news for consumers grappling with elevated pump prices is that Goldman Sachs is warning clients that OPEC+ could announce during Wednesday’s virtual meeting it plans step up production. Noting that

By Matt McFarland, CNN Business Tesla will recall all 53,822 vehicles with its “full self-driving” driver-assist feature after it was intentionally programmed to slowly roll through stop signs in some scenarios. The recall will impact Model S, X, 3 and Y vehicles that have its beta version of the “full self-driving” software enabled. “Full self-driving”

By Chris Isidore, CNN Business UPS just completed a record year. The current one will be even better. The delivery company earned $3.2 billion in the fourth quarter, excluding special items, up 36% from a year prior and topping the forecast of analysts surveyed by Refinitiv by about $500 million. UPS and rivals FedEx and

By Jeanne Sahadi, CNN Business Inflation is high and interest rates are expected to rise this year. So what does that mean if you’re investing in bonds? You’ve probably heard that when rates rise, bond prices fall. And if you already own bonds either directly or through a bond fund, this is not great news.

By Jon Sarlin, CNN Business It’s like seeing double. The virtually rendered bright yellow Honda Civic Type R Limited Edition that AJ Vanover is racing in Forza Horizon 5 on his new Xbox Series X — which sits next to an equally fresh Nintendo Switch and PS5 — on his new 70″ TV looks almost

By Matt Egan, CNN Business Home Depot has a plan to combat the worker shortage: Speedy job offers. The world’s largest home improvement retailer said Tuesday that job applicants “could receive an offer within one day of applying.” Home Depot said the “accelerated” hiring process is part of its plan to hire more than 100,000

By Anneken Tappe, CNN Business Last year was a historic one for American jobs. A record number of workers quit their jobs while US employers had more positions to fill than ever before. In December, 4.3 million Americans quit their jobs, down slightly from the record 4.5 million in November, the Bureau of Labor Statistics

By Chris Isidore, CNN Business In 2021, ExxonMobil posted its largest profit in seven years, as soaring energy prices added more than $100 billion in revenue to the company’s top line. The nation’s largest oil company earned $23 billion for the year, compared to a loss of $1.4 billion, excluding special items, in 2020. The

By Julia Horowitz, CNN Business Stocks haven’t experienced a start to the year this rough in a very long time. What’s happening: After rallying almost 27% in 2021, the S&P 500 finished January down 5.3%. It was the index’s worst January since 2009. The tech-heavy Nasdaq Composite shed 9%, its worst kickoff since 2008. It’s

By Peter Valdes-Dapena, CNN Business Aston Martin has unveiled a new version of the British luxury brand’s first SUV. Called the DBX707, it’s powered by a 697-horsepower turbocharged V8 engine, and Aston is calling it “the world’s most powerful luxury SUV.” The claim depends, to some degree, on how you define a “luxury SUV.” Aston