Money

By Julia Horowitz, CNN Business Goldman Sachs is becoming increasingly pessimistic about the US economy as coronavirus support from the government phases out and consumer spending remains on an uncertain path. What’s happening: Over the weekend, the Wall Street bank downgraded its forecast for America’s economic growth, which is closely monitored by the investment community.

By Charles Riley, CNN Business A trio of economists were awarded the Nobel Prize on Monday for showing that precise — and surprising — answers to some of society’s most pressing questions can be gleaned from experiments rooted in real life. David Card was recognized by the Royal Swedish Academy of Sciences for groundbreaking work

By Jill Disis, CNN Business China’s property crisis is ensnaring yet another developer. Modern Land is asking investors for more time to pay back a $250 million bond, according to a company filing with the Hong Kong Stock Exchange on Monday. The payment was due October 25. Modern Land said it wants to extend that

By Laura He, CNN Business Flooding in northern China is hitting a major coal production center hard, sending coal prices soaring and complicating efforts by Beijing to tackle ongoing power shortages. Heavy rains have forced the closures of 60 coal mines in Shanxi province, China’s largest coal mining hub, according to a statement released Saturday

By Alaa Elassar, CNN Teachers are going to get a little extra lovin’ this week with free breakfast “Thank You” meals from McDonald’s as a token of appreciation. Any educator, including teachers, administrators, and school staff can go to McDonald’s from October 11 to October 15 to receive their breakfast meal, McDonald’s said in a

By Frank Pallotta, CNN Business “No Time to Die,” the latest entry in the James Bond franchise, notched an estimated $56 million at the North American box office this weekend, according to its studio, MGM. That number met the studio’s expectations for the film, which stood at $55 million to $60 million going into the

By Ramishah Maruf, CNN Business In many parts of the country, what was traditionally known as Columbus Day is now being celebrated as Indigenous Peoples’ Day. But it remains a federal holiday, so some businesses will be closed. President Biden issued a proclamation commemorating Indigenous Peoples’ Day Friday and acknowledged the destruction of native communities

By Paul R. La Monica, CNN Business Corporate profits soared in the first half of this year, largely because of favorable comparisons to last year’s weak earnings. The Covid shutdown of the economy hit major companies hard in the first half of 2020. But as companies get set to report their third-quarter results in the

By Frank Pallotta, CNN Business Social media can be difficult to understand, but luckily for Congress they had the Facebook whistleblower walk them through it on “Saturday Night Live.” The NBC variety show opened up on Saturday with Frances Haugen, played by Heidi Gardner, giving testimony on Capitol Hill about the internal workings of Facebook.

By Ramishah Maruf, CNN Business National fast food chain Raising Cane’s Chicken Fingers has a new solution to the restaurant industry’s labor shortage — it’s asking corporate employees to work as fry cooks and cashiers. The privately-held Baton Rouge, La.-based company has a total of 750 corporate employees, 500 in its Dallas office. Of those,