Money

By Paul R. La Monica, CNN Business Oil prices began 2021 just under $50 a barrel. They are now trading just north of $70 and in October reached $85 -— a seven-year high. So it should come as no surprise that energy stocks are among the market’s biggest winners this year. Oil and natural gas

By Oliver Darcy, CNN Business Sony Pictures Television said Monday that “The Dr. Oz Show” will end in its thirteenth season on January 14, 2022. Sony said that “The Good Dish,” a show co-hosted by Oz’s daughter that focuses on nutrition and recipes, will replace the long-running medical show. The announcement comes as the show’s

By Jeanne Sahadi, CNN Business This month may be the last chance for high-income savers to take full advantage of the ‘backdoor’ Roth. If the Build Back Better bill, passed by the House in November and now under consideration by the Senate, becomes law, it could limit high-income savers’ options to convert their savings into

Zeena Saifi, Eoin McSweeney Some of the world’s richest men are squaring off in what’s become a rivalry for the ages — the space race. Elon Musk and Jeff Bezos, the two richest men on the planet and the CEOs of SpaceX and Blue Origin, respectively, have grand designs on the cosmos. They predict a

By Chris Isidore, CNN Business It seems like a good time for General Motors to pull the plug on the Bolt, the only electric vehicle currently in its North American vehicle lineup. GM, which is spending tens of billions of dollars to switch its lineup to electric vehicles in the coming decades, has essentially stopped

By Nathaniel Meyersohn, CNN Business Many of America’s leading discount chains have sat out the online shopping boom. Not anymore. Dollar General, Dollar Tree, Family Dollar (owned by Dollar Tree), Five Below and Grocery Outlet have all started offering delivery from stores over the past year. They are tapping delivery companies, such as Instacart and

By Peter Valdes-Dapena, CNN Business Some brand new car companies are hitting huge home runs with groundbreaking new vehicles, according to the staff at MotorTrend. The Rivian R1T has just been awarded the 2022 MotorTrend Truck of the Year Award just a month after the Lucid Air won the Car of the Year award. In

Opinion by Dana M. Peterson for CNN Business Perspectives Inflation now tops the list of complaints among US consumers. Prices for everything, from necessities like food, energy and shelter, to luxury goods like autos and vacations, continue to climb. Amid this worsening challenge, Americans are looking for some relief. In November, the consumer price index

By Alicia Wallace, CNN Business Biden’s big infrastructure plan, which was passed last month, promises to create hundreds of thousands of new jobs, many of which won’t require a college degree. But it’s going to be an uphill battle trying to fill those roles. The $1.2 trillion Infrastructure Investment and Jobs Act includes $550 billion

By Julia Horowitz, CNN Business Despite anxiety about inflation and the Omicron variant, the stock market is on track for another banner year. That’s in large part thanks to stellar gains from just a handful of stocks. What’s happening: According to new research from Goldman Sachs, just five companies — Microsoft, Apple, Nvidia, Tesla and

By Kerry Flynn, CNN Business Time magazine has named CEO of Tesla and SpaceX Elon Musk as Person of the Year. “Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth too,” Time editor-in-chief Edward Felsenthal wrote. “In

By Michelle Toh, CNN Business SenseTime is postponing its big stock market debut after once again getting caught up in tensions between the United States and China. The Chinese artificial intelligence startup announced Monday that it would delay its initial public offering in Hong Kong, where it had planned to raise up to $767 million.