Money

By Anneken Tappe and Ken Olshansky, CNN High inflation is a thorn in America’s side. Prices of groceries and gas are rising and Americans are growing pessimistic about the economy because of it. But it’s still nowhere as bad as the inflation spike of the 1970s, and prices aren’t going to surge like they did

By Helen Regan, CNN Business American journalist Danny Fenster, who has been detained in Myanmar for five months, was denied bail and hit with a new charge Wednesday following a hearing inside Yangon’s Insein Prison. Fenster, 37, has now spent 163 days detained in Myanmar, where his family has had little contact with him. The

By Jordan Valinsky, CNN Business West Hollywood’s city council is set to vote on hiking the local minimum wage to $17.64 an hour, which would be the highest in the United States. The ordinance, which is scheduled for a vote Wednesday, would take effect in January 2022 for hotel workers and in July 2022 for

By Walé Azeez, CNN Business Netflix has launched five mobile games for Android phones and tablets, as it seeks to gain a bigger share of subscribers’ attention and entertainment time. The streaming giant is looking to capitalize on the success of its signature science fiction series “Stranger Things” with the release of “Stranger Things: 1984”

By Charles Riley, CNN Business Banks, insurers, pension funds, money managers and other finance firms with $130 trillion in assets have signed up to tackle the climate crisis, swelling the ranks of a coalition led by former Bank of England governor Mark Carney. More than 450 companies across 45 countries have now committed to achieving

By Julia Horowitz, CNN Business Journalist James Glassman and economist Kevin Hassett wrote in late 1999 that the Dow Jones Industrial Average could hit 36,000 as soon as 2005. That prediction in their book, “Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market” did not come true. The dot-com

By Matt Egan, CNN Business Billionaire Charlie Munger is a big fan of how communist China manages its economy. The Berkshire Hathaway vice chairman told CNN he’s impressed that Beijing recognizes the troubles caused by allowing economic booms to get out of control. China “steps on a boom in the middle of it instead of

By Paul R. La Monica, CNN Business Stocks continue to hit new all-time highs even as the Federal Reserve prepares to pull back on some of the extraordinary stimulus measures it put in place when the Covid-19 pandemic ground the US economy to a halt in March 2020. Fed chair Jerome Powell is widely expected

By Jordan Valinsky, CNN Business It wouldn’t officially be the holiday season without Starbucks’ festive cups. And this year, they’re merrier than ever. Beginning Thursday, customers will have their hot drinks served in one of four new festive cups that are “wrapped up like gifts for the holidays,” according to a press release. This year’s

By Chris Isidore, CNN Business More than 10,000 members of the United Auto Workers union will stay on strike against farm and construction equipment maker John Deere after rank-and-file members voted down a second tentative labor deal with the company late Tuesday. The vote was much closer this time, with 45% voting in favor of

By Matt Egan, CNN Business Democrats want to tax stock buybacks to help pay for President Joe Biden’s $1.75 trillion spending plan. Billionaire investor Charlie Munger isn’t happy about it. “I think it’s insane. Literally insane,” Munger, the right-hand man of legendary investor Warren Buffett, told CNN in an interview. The Build Back Better framework,