Money

By Matt Egan Concern is rising on Wall Street over Washington’s debt ceiling game of chicken. Goldman Sachs warned clients on Wednesday that Congress may fail to raise or suspend the debt ceiling prior to the October 18 deadline. “It looks unlikely that Congress will address the debt limit before the last minute, and there

By Chris Isidore, CNN Business General Motors’ transition to an all-electric vehicle lineup will help the environment. It will also help make GM a 100% more successful business, the company says. GM announced Wednesday that it forecasts doubling global revenue by the end of the decade and improving its profit margin as it does so.

By Paul R. La Monica, CNN Business Bitcoin is back, and it has a prominent new supporter. The price of the world’s most valuable cryptocurrency spiked nearly 10% Wednesday morning to around $55,000, following news that the investment firm founded by billionaire George Soros owns bitcoin. Soros, who is famous for making big money on

By Danielle Wiener-Bronner, CNN Business Two years after launching the Impossible Whopper, Burger King is testing out Impossible nuggets. Starting on October 11, Burger King restaurants in Des Moines, Iowa, Boston, Massachusetts and Miami, Florida will serve eight-piece plant-based nuggets made by Impossible Foods for a limited time. While Burger King is following other fast-food

By Nathaniel Meyersohn, CNN Business Walmart may be delivering the next power drill or can of paint you order from Home Depot. Walmart in August launched a new service called GoLocal to deliver goods to customers on the same day or the following from other businesses’ websites. Home Depot is the first customer for the

By Diksha Madhok, CNN Business China isn’t the only major Asian economy facing an energy crisis. India may be staring at electricity shortages in the coming months because coal stocks at most of its power plants have dropped to critically low levels. As many as 63 of the 135 coal-fired power plants in Asia’s third

Opinion by Mark Wolfe for CNN Business Perspectives Prices for gasoline, food and other essentials have all risen over the past few months, straining family budgets across the US. And now, prices for natural gas, the most common way to heat homes, are at their highest level in the last seven years. If it’s a

By Chris Isidore and Rob McLean, CNN Business Workers at the Kellogg Company — maker of breakfast staples such as Corn Flakes and Rice Krispies — are on strike, after yearlong negotiations between union and management broke down. The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union said in a press release Tuesday that

By Julia Horowitz, CNN Business A record setting number of mergers. Eye-popping startup fundraising. Institutional hype over bitcoin. No matter where you look, the evidence is clear: The financial system is awash with cash from pandemic-era stimulus programs, forcing money managers to find new ways to deploy it. Take mergers and acquisitions. Worldwide dealmaking has

By Chris Isidore and Cheri Mossburg, CNN Business The gridlock of massive container ships outside the United States’ two busiest ports in Southern California has been blamed for all types of things: A looming shortage of hot Christmas gifts this year Disruptions and temporary shutdowns at many of the nation’s factories Higher prices paid by

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By Anna Bahney, CNN Business Manhattan’s real estate market is making a comeback. Apartment sales surged in Manhattan during the third quarter, hitting the highest level in more than 32 years as more people get vaccinated and return to in-person school and work. Home sales in New York City cratered during the pandemic — especially