Money Archives

Planes are seen under construction at a Boeing assembly plant in North Charleston

Boeing posts massive charge for 787 Dreamliner problems, sending losses soaring

January 26, 2022 7:11 AM CNN Newsource

By Chris Isidore, CNN Business Boeing took nearly $4 billion in charges related to problems it had with its 787 Dreamliner, causing losses to soar for the third straight year. The company had already been hit with the problems surrounding the 737 Max, which was grounded for 20 months starting in 2019 following two fatal

It sure looks like GM is about to pull the plug on the Bolt

January 26, 2022 7:09 AM CNN Newsource

By Chris Isidore, CNN Business Time could be running out for the Chevrolet Bolt, the electric vehicle that only five years ago was positioned as General Motors’ best chance to overtake Tesla. On Tuesday, GM announced a $35 billion investment in EVs by 2025, including $4 billion to build electric versions of its best-selling pickups,

Apple posted record revenue during the all-important holiday quarter even as it continued to grapple with supply chain shortages.

Apple posted record holiday quarter sales despite supply constraints

January 26, 2022 7:04 AM CNN

By Samantha Murphy Kelly, CNN Business Apple posted record revenue during the all-important holiday quarter even as it continued to grapple with supply chain shortages. The company on Thursday reported $123.9 billion in revenue for the final months of the year, an 11% increase from the year prior, fueled by demand for its latest lineup

Shares of GameStop have plunged nearly 35% in January.

A year after GameStop mania, meme stocks have tumbled

January 26, 2022 5:52 AM CNN Newsource

By Paul R. La Monica, CNN Business It’s been a little more than a year since the meme mania in GameStop began. It’s shaped up to be, to put it extremely mildly, a wild ride for it and other meme stocks like movie theater chain AMC ever since. GameStop and AMC are up sharply from

Economists predict US gross domestic product

Why economists believe 2021 ended on a high note despite Omicron

January 26, 2022 5:31 AM CNN Newsource

By Anneken Tappe, CNN Business The Omicron variant put America’s recovery through the ringer. But the post-Thanksgiving timing may mean the economic scorecard for the final quarter of 2021 could still look decent. At least that’s what economists are hoping. Omicron caused infections to skyrocket, businesses to struggle and workers to stay home sick in

‘Fight Club’ has a new ending in China. And this time, the authorities win

January 26, 2022 2:05 AM CNN Newsource

By Nectar Gan and CNN’s Beijing Bureau, CNN Business More than two decades after its release, “Fight Club” has been given a very different ending in China — and this time, the authorities win. Chinese fans of David Fincher’s cult classic were enraged over the weekend when they noticed a version of the movie available

China's top cybersecurity regulator is vowing to crack down on "illegal" online content as part of a campaign to clean up the internet ahead of the Beijing Winter Olympics and one of the country's most important annual holidays

China pledges ‘purification’ of the internet ahead of the Beijing Winter Olympics and the Lunar New Year

January 26, 2022 1:23 AM CNN Newsource

By Laura He, CNN Business China’s top cybersecurity regulator is vowing to crack down on “illegal” online content as part of a campaign to clean up the internet ahead of the Beijing Winter Olympics and one of the country’s most important annual holidays. The Cyberspace Administration of China announced Tuesday that its month-long internet “purification”

Southern Boone School Board seeks no-tax-increase bond issue for stadium repairs

January 25, 2022 7:49 PM Karl Wehmhoener

The Southern Boone School District is asking the public to vote on the $3 million no-tax-increase bond issue.

Apple has been granted a restraining order against a woman who allegedly threatened

Tim Cook allegedly stalked by woman who trespassed and sent photos of a loaded gun

January 25, 2022 5:17 PM CNN Newsource

By Samantha Murphy Kelly, CNN Business Apple has been granted a restraining order against a woman who allegedly threatened, harassed and stalked CEO Tim Cook for more than a year. In a court filing late last week with the Santa Clara County Superior Court, Apple said a woman from Virginia has exhibited “erratic, threatening and

Some manufacturers that rely on semiconductors are down to less than five days' worth of inventory

Some manufacturers have less than 5 days’ supply of computer chips, Commerce Department warns

January 25, 2022 4:08 PM CNN Newsource

By Clare Duffy, CNN Business Some manufacturers that rely on semiconductors are down to less than five days’ worth of inventory, according to a report released Tuesday by the Commerce Department, in the latest indication of the extent of the computer chip shortage. The report, based on more than 150 responses to a Commerce Department

Johnson & Johnson expects its Covid vaccine sales to surge — but still lag its rivals

January 25, 2022 3:04 PM CNN Newsource

By Chris Isidore, CNN Business Johnson & Johnson, the world’s largest health care products company, reported that sales of its Covid vaccine have accelerated, but they’ll still lag far behind other vaccines for the foreseeable future. Its 2021 sales of its single-dose vaccine came to $2.4 billion, the company reported Tuesday, just short of its

The International Monetary Fund says the pandemic will continue to stoke uncertainty and inflation in its third year

IMF slashes US and China growth forecasts

January 25, 2022 2:03 PM CNN

By Julia Horowitz, CNN Business The pandemic will continue to stoke uncertainty and inflation in its third year, undermining the global recovery from the coronavirus and pushing total economic losses toward $14 trillion. That’s according to the International Monetary Fund, which on Tuesday slashed its global growth forecast for 2022 by half a percentage point

Bank of America is handing out $1 billion worth of restricted stock to virtually its entire workforce as the bank seeks to gain an upper hand in the war for talent.

First on CNN: Bank of America is giving workers $1 billion of stock

January 25, 2022 1:20 PM CNN Newsource

By Matt Egan, CNN Business Bank of America is handing out $1 billion worth of restricted stock to virtually its entire workforce as the bank seeks to gain an upper hand in the war for talent. In a memo shared exclusively with CNN, Bank of America CEO Brian Moynihan said Tuesday the company is for

The "AirCar" was awarded an official Certificate of Airworthiness by the Slovak Transport Authority after completing 70 hours of "rigorous flight testing

Flying car cleared for takeoff, but you’ll need a pilot’s license

January 25, 2022 12:47 PM CNN

By Robert North, Radina Gigova and Sana Noor Haq, CNN A car that can transform into a small aircraft has passed flights tests with flying colors in Slovakia, developers say. The “AirCar” was awarded an official Certificate of Airworthiness by the Slovak Transport Authority after completing 70 hours of “rigorous flight testing,” according to Klein

The most-watched of the four games was on January 23 game Bills-Chiefs nailbiter on CBS

43 million viewers make Bills-Chiefs most-watched TV event since last year’s Super Bowl

January 25, 2022 11:31 AM CNN Newsource

By Brian Stelter, CNN Business None of the headwinds facing legacy broadcast television are strong enough to stop the NFL right now. This past weekend’s four divisional games averaged 37 million viewers at any given time. That’s 20 percent higher than the audience size for the equivalent games last year. The totals now count some

Flying car cleared for takeoff, but you’ll need a pilot’s license

January 25, 2022 11:12 AM CNN Newsource

By Robert North, Radina Gigova and Sana Noor Haq, CNN A car that can transform into a small aircraft has passed flights tests with flying colors in Slovakia, developers say. The “AirCar” was awarded an official Certificate of Airworthiness by the Slovak Transport Authority after completing 70 hours of “rigorous flight testing,” according to Klein

Stocks finish lower, dashing hopes for a turnaround Tuesday

January 25, 2022 9:16 AM CNN Newsource

By Anneken Tappe, CNN Business Investors better fasten their seat belts because there’s no sign of volatility letting up on Wall Street. Stocks resumed their selloff for most of day, but the Dow offered a glimmer of hope for turnaround Tuesday when it briefly turned green in the afternoon. But even though stocks ended off

American Express said that revenue in the fourth quarter soared 30% from a year ago

AmEx stock soars nearly 10% as customers go on spending spree

January 25, 2022 9:04 AM CNN Newsource

By Paul R. La Monica, CNN Business American Express customers clearly didn’t leave home without their credit cards when they went shopping this holiday season. The company said Tuesday that revenue in the fourth quarter soared 30% from a year ago, thanks in large part to record spending by its members. Investors were pleased. Shares

Home prices rose 18.8% year-over-year in November

Home prices are starting to lose steam

January 25, 2022 8:20 AM CNN Newsource

By Anna Bahney Overheated home prices continue to show signs of cooling off a bit. Home prices rose 18.8% year-over-year in November, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. But that staggering jump was down from a 19.1% increase in October. For the past several months, prices have continued to rise

Starbucks is giving customers new ways to perk up by giving them a line of energy drinks called Starbucks Baya Energy and a bunch of fresh flavors in the grocery aisle.

Starbucks is launching an energy drink

January 25, 2022 8:11 AM CNN Newsource

By Danielle Wiener-Bronner, CNN Business Starbucks is giving customers new ways to perk up: a line of energy drinks called Starbucks Baya Energy and a bunch of fresh flavors in the grocery aisle. Baya will be available for purchase at stores and online starting this week, and will go on sale at US Starbucks stores