Money

By Vanessa Yurkevich, CNN Business The restaurant industry will likely never return to its pre-pandemic state, according to the National Restaurant Association. The trade group says 2022 will be a “new normal,” for the sector as it struggles to rebound and as competition for workers remains intense, according to the association’s 2022 State of the

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.