Money

By Nicole Goodkind, CNN Business The S&P 500 has posted its worst first half in more than 50 years, dropping 20.6% during the first 6 months of 2022. Stocks closed down on Thursday as Wall Street said goodbye to a dismal second quarter and first half of the year. All three major indexes ended the

By Nicole Goodkind, CNN Business Prominent Wall Street economists like Mark Zandi, investing luminaries like ARK Invest’s Cathie Wood and executives like JP Morgan Chase CEO Jamie Dimon can make recession predictions until they’re blue in the face, but their guidance will remain just that — an economic forecast. That’s because, in the United States,

By Laura He, CNN Business China’s huge manufacturing and service industries just saw their first month of growth since February, according to surveys published Thursday, as Covid restrictions were eased in many cities. But the shadow of further lockdowns still looms over the world’s second biggest economy as Beijing sends mixed messages about the best

By Parija Kavilanz, CNN Business It has a square shape, no stick, and will make your fingertips cold and sticky as you gingerly bite into its thin chocolate covering to reach the delicious vanilla ice cream encased inside. This is the iconic Klondike ice cream bar, which is hitting a major milestone birthday this year:

By Matt McFarland, CNN Business Tesla is increasingly turning to machines rather than humans as it attempts to develop autonomous vehicles. As part of Tesla’s plans to cut 10% of salaried staff, the company has laid off a significant number of its data annotation specialists. These specialists do grunt work that is critical to empowering

By Anna Cooban, CNN Business It’s getting harder for shoppers in the United Kingdom to find Heinz baked beans. Blame food price inflation. Tesco, the country’s biggest supermarket chain, has stopped selling some products made by Kraft Heinz in a dispute over prices. Kraft Heinz is behind some of the country’s favorite pantry staples, including

By Jordan Valinsky, CNN Business Unilever has sold its Ben & Jerry’s business in Israel to its distributor in the country, following ongoing controversy related to its activities in Israel and the West Bank. Unilever announced Wednesday the sale for an undisclosed amount to American Quality Products (AQP), which distributes Ben & Jerry’s in Israel.

By Paul R. La Monica, CNN Business Cruise giant Carnival was hit hard during the worst of the pandemic. Now, a top Wall Street analyst has issued a dire potential outlook for the company in the case of recession. Morgan Stanley’s Jamie Rollo outlined a worse-case scenario: Carnival stock could fall to $0 in the

By Lucy Bayly, CNN Business It’s not yet clear if the US economy will ever return to its pre-pandemic status, Federal Reserve Chairman Jerome Powell said Wednesday at a central banker forum in Portugal. “The economy is being driven by very different forces. What we don’t know is whether we’ll be going back to something

By Kathleen Magramo, CNN Journalists from leading international media organizations, including Reuters and CNN, have been barred from covering official ceremonies during Chinese leader Xi Jinping’s visit to Hong Kong later this week. Xi will be in Hong Kong to mark the 25th anniversary of the city’s handover from Britain to China, and it will