Money

By Frank Pallotta, CNN Business “Top Gun: Maverick” felt the need for speed at the box office this weekend. The sequel to the 1986 blockbuster, which has Tom Cruise reprise his most iconic role of Pete “Maverick” Mitchell, made an estimated $124 million domestically for its three day opening weekend, according to Paramount. That not

By Nicole Goodkind, CNN Business To most investors, navigating today’s stock market is as treacherous as walking the plank. But for luxury investors, it’s more like strutting down the catwalk. The United States may very well be hurtling toward a recession and the Nasdaq is suffering its worst 100-day performance on record. But luxury spending

By Ramishah Maruf, CNN It’s another chaotic holiday weekend for those traveling by air this Memorial Day. Upwards of 6,000 global flights have been canceled since Friday with hundreds more fights delayed, according to flight tracking website FlightAware. Some 1,640 flights were canceled on Sunday alone, FlightAware data indicates, with more than 500 of those

By Ramishah Maruf, CNN Business Elon Musk, the world’s richest man, said on Twitter Thursday that billionaires aren’t the bad guys. Musk tweeted that it is “morally wrong & dumb” to use the word billionaire as a pejorative if that person is using their wealth to create products that make “millions of people happy.” He

By Matt Egan, CNN Business Corporate America has said very little following this week’s Texas school shooting that left 21 people dead. Yale professor Jeff Sonnenfeld is calling out their silence. Sonnenfeld, a vocal advocate of corporate social responsibility, applauded Goldman Sachs CEO David Solomon for speaking up but said more is needed. “This voice

By Jeanne Sahadi, CNN Business Managing one’s finances in retirement is always tricky. But with inflation pushing up the price of everything from gas to housing to eggs, many retirees are cutting back or eliminating certain costs altogether. CNN Business spoke with several retirees about how they have been managing their spending as prices have

By Anneken Tappe, CNN Business Another key tracker of consumer prices took a breather in April, following in the footsteps of inflation indexes released earlier this month. Economists, the Federal Reserve, the Biden administration and the American people were all hopeful that March would prove to be the peak of the pandemic price hikes. The

By Nathaniel Meyersohn, CNN Business Some welcome news for shoppers getting squeezed by inflation: promotions on televisions, furniture, clothing, sporting goods and other big-ticket purchases are ramping up. Target, Walmart, Best Buy, Urban Outfitters and other top retailers have said in recent weeks that they are sitting on too much inventory for some of their

By Allison Morrow, CNN Business There’s little political risk in taxing hugely profitable oil companies to help consumers pay their exorbitant energy bills. But many economists are warning that such a tax could ultimately do more harm than good. See here: On Thursday, the UK slapped a 25% tax on the “extraordinary” profits of British