Money

By Anna Cooban, CNN Business Champagne houses are celebrating after sales and exports set new records last year even as pandemic lockdowns forced many bars and restaurants to close. Comité Champagne, a trade association representing more than 16,000 winegrowers and 320 Champagne houses, said Wednesday that France exported a record 180 million bottles of bubbly

By Anna Bahney, CNN Business In the third jump of 2022, mortgage rates rose to a high not seen since the early days of the pandemic. The 30-year fixed-rate mortgage averaged 3.56% in the week ending January 20, up from an average 3.45% the week before, according to Freddie Mac. It’s the highest since March

By Vanessa Yurkevich, CNN Business Wages are not keeping up with inflation. The price of cars has grown significantly faster than earnings, a new analysis by the Anderson Economic Group found. The price of new and used cars increased by 11.8% and 37.3% respectively in December 2021 from December 2020, while wages increased by 4.9%

By Chris Isidore, CNN Business Both American Airlines and United Airlines reported better-than-expected financial results, despite problems brought on by the Omicron surge during the holiday travel period. But both said they expect problems from the variant early this year. American, the nation’s largest airline, lost $921 million in the quarter, excluding special items. That

By Charles Riley, CNN Business It’s been a year since President Joe Biden took the reins at the White House. How’s the stock market doing? The answer is pretty darn good. The S&P 500 has increased nearly 18% since Biden took office on January 20, 2021, hitting a slew of new record highs along the

By Matt Egan, CNN Business If Russia invades Ukraine, inflation-weary Americans will likely pay even higher prices at the pump. Oil prices have already shot up to seven-year highs in recent days. A conflict between Russia and Ukraine, which the White House has warned could be imminent, would have the potential to drive them much

By Anna Cooban and Chris Liakos, CNN Business Major international airlines have resumed normal service after a slew of cancellations on Wednesday over fears the rollout of 5G mobile networks in the United States would compromise safety. British Airways, Lufthansa, All Nippon, Japan Airlines and Emirates all announced cancellations or changes to flights to the

By Chris Isidore, CNN Business Relief from record high auto prices could be coming soon. But that doesn’t mean those prices will go back to where they were before the pandemic. A shortage of necessary parts — primarily computer chips — limited production of new vehicles around the globe. That left car dealers short of

By Nathaniel Meyersohn, CNN Business Amazon has a new venture outside of e-commerce, cloud computing, content streaming, smart devices, Whole Foods, cashier-less technology or anything else you’ve come to associate with one of the most successful companies in American history. It’s a physical clothing store. Like, you know, a real brick-and-mortar space where you go