Money

by Matt Egan, CNN Corporate America is frustrated with the Federal Reserve for waiting too long to attack inflation, according to former Trump economic adviser Gary Cohn. Cohn, who is frequently in touch with CEOs, told CNN that businesses have been experiencing wage inflation and surging input costs for more than a year. “I think

by Chris Isidore Tesla is moving ahead with plans to layoff about 10% of its salaried staff, CEO Elon Musk said Tuesday. But he also expects the company’s overall workforce will be larger a year from now than it is today. Musk has been sending out conflicting signals on his staffing plans for the last

Lucy Bayly, CNN Business Federal Reserve Chairman Jerome Powell wants to increase joblessness in the US in order to save the economy. But Beyoncé may beat him to it. The multi-hyphenate artist’s latest single, “Break My Soul,” which dropped late Monday, begs listeners to “release” themselves from their 9-5, saying “I just quit my job,

By Frank Pallotta, CNN Business “How was your weekend? I certainly had an interesting one because some of my staff had a memorable one.” That’s how Stephen Colbert opened his monologue Monday after members of his “Late Show” production team were arrested last week at the US Capitol. “This was first-degree puppetry,” Colbert said. Colbert

By Kathryn Vasel, CNN Business You’re in the middle of a job interview, a question comes your way and you’ve got… nothing. It happens. Even if you’ve prepared for hours, a question can come out of the blue and leave you stumped. But you don’t want to let one fumble derail your entire interview. Here’s

By Chris Isidore, CNN Business One of Elon Musk’s children has petitioned a California court to recognize her new name and gender, saying she no longer wishes to be related to her famous and wealthy father “in any way, shape or form.” Musk’s daughter turned 18 earlier this year and made the filing with a

By Nicole Goodkind, CNN Business US stocks roared back Tuesday in the first day of trading since last week’s selloff. The Dow closed up 641 points, or 2.1%, and was up over 700 points in afternoon trading. The S&P 500 was up 2.5% and the Nasdaq was also 2.5% higher. Last week was the market’s

By Peter Valdes-Dapena, CNN Business General Motors’ electric delivery van subsidiary, BrightDrop, has delivered 150 vans to FedEx, the companies announced Tuesday. This comes after five of the vans were delivered to FedEx last December and it marks BrightDrop’s first sizable delivery of vans. FedEx and GM had previously announced deals for the package delivery

By David Goldman, CNN Business If you’re nervous about the stock market, you’ve got good reason to be: Central banks around the globe are losing the battle against inflation, and their response could plunge the global economy into a recession. Step back: Last week, the Federal Reserve hiked interest rates by three-quarters of a percentage

By Nicole Goodkind, CNN Business Your next 401(k) statement could come with a very worrisome surprise. Retirement plan holders typically receive quarterly statements in the mail that provide an update on how much they have saved and where their investments are allocated. Starting at the end of June, they’ll also be sent a “lifetime income

By Jordan Valinsky, CNN Business Krispy Kreme’s signature glazed doughnuts are now being served in an new way: Creamy ice cream. “Original Glazed Soft Serve Ice Cream” is a new addition to Krispy Kreme’s lineup, made with whole milk and ingredients from the doughnut shop’s “proprietary and secret” signature recipe. Restaurants in 10 US cities

By Matt Egan, CNN The White House has kept the door open to a windfall profit tax on Big Oil but economist Mark Zandi is warning such a move could backfire. “I would not be supportive,” Zandi, the chief economist at Moody’s Analytics, told CNN in a phone interview. “You want energy companies to invest