Money

By Anneken Tappe, CNN Business US stocks hit record highs Monday, surging 100% from the lows they hit at the start of the pandemic. Then Tuesday happened. A widely anticipated retail sales report showed the Delta variant is putting a damper on American consumer spending. That dragged an already lackluster market further into the red

By Kerry Flynn, CNN Business A new class of media executives who have taken top jobs at major publications in the US in the last year is much different than any that came before it. Notably, the class is not made up of predominantly White men. In fact, the cohort includes many firsts. For the

By Anneken Tappe, CNN Business Americans shopped less than expected last month as the Delta variant swept across the country, fueling concerns that the pandemic might once again weigh on consumer spending and the economic recovery. Sales declined by 1.1% in July adjusted for seasonal swings, the Census Bureau showed Tuesday. It was a steeper

By Paul R. La Monica, CNN Business Home Depot has thrived in the red-hot housing market, but there are growing signs that demand is finally starting to cool. Although Home Depot’s second-quarter earnings and revenue topped forecasts on Tuesday morning, a few stats were concerning: For example, same-store sales growth, which measures how well locations

By Hanna Ziady, CNN Business Job vacancies in the United Kingdom hit a record high last month and wages soared by 7.4% between April and June, adding to fears of a prolonged period of rising prices as companies pass on higher costs to consumers. The strong recovery in the labor market was highlighted in data

By Jordan Valinsky, CNN Business McDonald’s is adding to its year-old bakery item selection with the introduction of a new glazed donut. The new sweet treat hits menus at its United States restaurants beginning on September 1 for a limited time. McDonald’s said the donut is coated in a sweet glaze that tears apart to

By Laura He, CNN Business China’s biggest tech companies lost more than $50 billion in market value Tuesday after the government proposed sweeping new rules to further curb anti-competitive behavior among big internet firms. The latest effort to clamp down on the sector comes from the State Administration for Market Regulation (SAMR), which has spearheaded

By Kerry Flynn, CNN Business Three of the top US newspapers are seeking the Biden administration’s help getting staff and their families out of Kabul following the Taliban’s takeover of the capital. The Washington Post Publisher Fred Ryan emailed White House National Security Adviser Jake Sullivan on Monday with an “urgent request on behalf of”

By Ian Berry and Kerry Flynn, CNN Business Falls. Collapses. Chaos. Those are some of the words splashed across the front pages of newspapers in the US and around the world after the Taliban took control of Afghanistan’s capital city, Kabul. Reflecting on Monday’s front page, USA Today Editor-in-Chief Nicole Carroll told CNN Business, “There

By Matt Egan, CNN Business State Street, one of the world’s largest asset managers, is shutting down its two midtown Manhattan offices as the Wall Street firm embraces a hybrid working model. The move by State Street, the company behind the “Fearless Girl” statue outside the New York Stock Exchange, underscores the pressure facing the

By Danielle Wiener-Bronner, CNN Business Earlier this summer, Nadav Mille found himself on an emergency pita run. Mille and his wife own a small catering company in Craftsbury, Vermont called Chef Nadav LLC, which sells Mediterranean cuisine among other food. Typically, he orders items like pitas weeks ahead of time from food distributor Sysco. But

By Jordan Valinsky, CNN Business A Honus Wagner baseball card, the most famous and among the rarest sports trading cards in the world, sold at auction Monday morning for a record $6.6 million. That blew away the previous record — a 1952 Topps Mickey Mantle card, which auctioned earlier this year for $5.2 million. An

By Alexis Benveniste, CNN Business As the Covid-19 Delta variant continues to spread, companies are warning that they expect pandemic fears to harm their businesses. The hospitality and entertainment industries, in particular, are feeling the pain. Although economists don’t expect a repeat of the kind of shutdowns that gutted industries in 2020, the risks posed

By Jackie Wattles, CNN Business Blue Origin filed a federal lawsuit Friday to challenge a NASA moon landing contract awarded solely to rival company SpaceX, upping the ante in an already tense standoff over the multibillion-dollar lunar lander program. The protective order was first publicly posted Monday. Details of the lawsuit are not publicly available