Money

By Hanna Ziady, CNN Business Are the supply and demand fundamentals that have governed oil markets for decades coming unstuck? In normal times, a surge in demand and rising prices would trigger supply increases. But as the past week has shown, these aren’t normal times. The latest: Just two days after the Biden administration urged

By Michelle Toh, CNN Business Every night before bed, Anushka Sachan whips out her phone to log into an app. “It kind of becomes a habit,” said the 20-year-old Hong Kong University student. “Before sleeping, I’m just like, ‘Okay, check in.’” The platform Sachan is using belongs to a Chinese brand called Shein — pronounced

By Chauncey Alcorn, CNN Business The heads of some of the largest minority business advocacy groups on Capitol Hill are praising key elements of the latest infrastructure bill, which is currently being debated in the House after passing with bipartisan support in the Senate on Tuesday. “This was a win for us in a big

By Chris Isidore, CNN Business Tesla CEO Elon Musk got $0 in pay in 2020, according to a company filing, but he did receive stock options during the year that are now worth $22 billion. The filing is accurate — Musk received no base pay during the year. That’s in keeping with past practice at

By: Moira Ritter, CNN Business Gone are the days of running to the ATM in order to get cash to tip your server or hair stylist. If cash was going out of style before the pandemic, consider its reputation ruined by infection concerns that have pushed consumers toward cashless alternatives — especially when it comes

By Peter Valdes-Dapena, CNN Business Audi’s latest concept car, the skysphere, will be able to drive itself, the company claims. But the real hook is that, as it changes from human driving to self-driving, the body of the skysphere expands by 10 inches from end-to-end. The concept car’s long hood extends forward and the steering

By Matt Egan, CNN Business Big Oil is not pleased with the White House’s push this week for more crude from OPEC and its allies. The American Petroleum Institute, the powerful lobby group that represents the US oil and gas industry, is arguing President Joe Biden should be working to boost oil production at home

By Jackie Wattles, CNN Business Boeing revealed Friday that apparent issues with the propulsion system on its Starliner spacecraft — which is designed to carry astronauts and potentially tourists to the International Space Station — are worse than initially anticipated, putting yet another lengthy delay on the horizon. The Starliner is a gumdrop-shaped capsule meant

Lamborghini has unveiled a brand new $2.6 million supercar with a very familiar name: the Countach. The original Lamborghini Countach, unveiled as a concept car at the Geneva Motor Show in 1971, made the Italian automaker world famous. The new Countach, unveiled at an event during Monterey Car Week in California Friday, celebrates the 50th

By Chris Isidore, CNN Business Used car prices may finally be peaking. Prices shot up like a rocket earlier this year, soaring 30% between March and June according to the consumer price index, the federal government’s main inflation barometer. That was by far the steepest three-month increase in those prices, according to government data that

By Parija Kavilanz, CNN Business Sales of reusable face masks, which had started to cool down earlier in the summer, have reversed course as the Delta variant spreads across the United States. Weekly mask sales in dollars had been declining in June and into July, according to Adobe Analytics’ Digital Economy Index, which tracks sales

By Alicia Wallace, CNN Business During a pandemic that upended lives, broke routines, and mothballed most forms of in-person activities, a funny thing happened in the entertainment business: The drive-in theater saved the cinema. But while it might have been dismissed as another anomaly in a year full of unusual economic blips, the renewed interest

By Paul R. La Monica, CNN Business Americans are extremely worried about the Delta variant and the spike in Covid-19 cases. A key survey of consumer confidence plunged in August below where it was in April 2020 when the first Covid-19 outbreak slammed the brakes on the US economy. The University of Michigan said that

By Paul R. La Monica, CNN Business Airbnb had a blockbuster second quarter, with revenue soaring nearly 300% and topping expectations. But it also reported some bad news: The company is worried about the Delta variant’s impact on consumers’ future travel plans. The company benefited from more people taking vacations in the spring and summer,