Money

By Michelle Toh, CNN Business Bitcoin is falling as fears of the Evergrande crisis sweep through global markets. The digital currency has dropped 5.7% in the last 24 hours, and was trading at $42,955 per coin as of 2:43 am ET on Tuesday, according to cryptocurrency tracker Coindesk. Earlier, it was down as much as

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Monday was a day full of pandemic dissonance. Tuesday probably will be, too. On the same day we learned about a major step forward for public health — Pfizer saying

By Ramishah Maruf, CNN Business FedEx will increase its shipping rates starting in the new year, the company announced Monday. The increase is set to take effect on Jan. 3, 2022, and will apply to all US domestic, US export and US import services. FedEx Ground, which delivers to businesses, and FedEx home delivery will

By Alexis Benveniste, CNN Business More than 200 companies, including Twitter, Salesforce and Procter & Gamble, signed a climate pledge that aims to reduce their carbon emissions over the next two decades. The project is part of a collaboration between Amazon and the advocacy group Global Optimism. “The breadth of industry that’s committed to this,

By Peter Valdes-Dapena, CNN Business General Motors will begin replacing damaged and fire-prone battery cells on some of its recalled Chevrolet Bolt electric vehicles in mid-October, the automaker announced Monday. GM first announced a recall of the Chevy Bolt electric vehicles in November 2020 due to fire risk, but it didn’t have an immediate fix.

By Chris Isidore, CNN Business Drinking alcohol and building planes don’t really mix. That’s why Boeing is reportedly investigating two small, empty tequila bottles that were found on one of the planes set to serve as the next Air Force One. The plane is one of two 747 jumbo jets being modified to meet the

By Frank Pallotta, CNN Business Sunday was TV’s biggest night, but it was a mixed bag — at least in terms of the ratings. The 73rd Annual Primetime Emmy Awards averaged 7.4 million viewers for CBS. That number is up 16% from last year. That’s the good news. The bad news is that last year’s

By Parija Kavilanz, CNN Business It’s a good thing that consumers are in a mood to spend heading into the holiday season. They may have to dish out more for a new artificial Christmas tree this year, depending on where they buy it from. Some large sellers of artificial trees say they are increasing their

By Anneken Tappe, CNN Business The US economy is further from being back to normal again. Thanks, Delta. The more infectious variant of Covid-19 is making people anxious about being around others. That’s bad news for the economy going into the winter months, and might mean it’s time to get used to a slower recovery.

By Anneken Tappe, CNN Business The Dow and the broader US stock market fell to close sharply lower Monday as Chinese real estate conglomerate Evergrande’s debt crisis made American investors uneasy. It was the worst performance since May for the S&P and the Nasdaq, while the Dow logged its worst day since July. Stocks spent

By Diksha Madhok, CNN Business France is threatening to block talks on a planned free trade agreement between Europe and Australia after the Australian government ditched a huge deal to buy French submarines. The French government has been seething ever since Australia abandoned its $90 billion Australian dollars ($65 billion) deal last week with France

By Hanna Ziady, CNN Business UK supermarkets could face shortages of meat and other fresh food within weeks after soaring gas prices prompted a major US fertilizer manufacturer to suspend production, turning off most of Britain’s supply of carbon dioxide to the food and drink industry in the process. Illinois-based CF Industries said last week

By Laura He, CNN Business Evergrande’s debt crisis is continuing to unsettle investors in Asia and raising concerns about whether a potential default by the troubled Chinese conglomerate could spill over to other parts of the economy. Shares of Evergrande Group plummeted 10% in Hong Kong on Monday, hitting just 2.28 Hong Kong dollars ($0.29)