Money

By Matt Egan, CNN Business A US default would be a “catastrophic blow” to America’s economic recovery from Covid-19, setting off a downturn that would rival the Great Recession, Moody’s Analytics warned in a new report. If the US defaults on its debt payments and the impasse drags on, the ensuing recession would wipe out

Jeanne Sahadi Let’s be honest, the advice to “invest in what you know” is hard to heed when you’re trying to build a diverse portfolio. So even if you’re someone who can’t define blockchain to save your life, you still may be wondering if you should have at least a little exposure to crypto in

Opinion by Stacey Abrams for CNN Business Perspectives Throughout the course of the pandemic, we have witnessed inequities ripple across our society, particularly along racial and socioeconomic lines. Most tellingly, this imbalance affects frontline workers — many of whom are people of color — who put their lives and health on the line to keep

By Jack Guy, CNN Business Netflix says it has acquired the rights to Roald Dahl’s stories and plans to create a “unique universe” of products based on them. The streaming giant said Wednesday it had acquired the Roald Dahl Story Company (RDSC), which manages the rights to the late British author’s works. Netflix said in

By Hanna Ziady, CNN Business The International Energy Agency has called on Russia to supply more natural gas to Europe to help alleviate soaring energy prices. The Paris-based group said in a statement that while Russia is fulfilling its long-term contracts to European customers, exports are down from their 2019 level. Russia is the European

By Diksha Madhok, CNN Business An Indian company that wants to rival Salesforce is launching an initial public offering in the United States. Freshworks said this week that it has priced 28.5 million shares of common stock at $36 each, raising a little over $1 billion in its IPO in New York. That values the

By Hanna Ziady, CNN Business The UK government has agreed to subsidize a major US fertilizer manufacturer at a cost of several million pounds to taxpayers in order to restart carbon dioxide production vital to Britain’s food supply. The government announced the extraordinary intervention in a statement late on Tuesday. The plan should allow Illinois-based

By Laura He, CNN Business China’s Evergrande Group will pay interest due Thursday on one of its bonds, but it’s keeping rattled investors guessing about the fate of second, bigger payment due this week. The troubled Chinese real estate conglomerate said Wednesday in a filing with the Shenzhen Stock Exchange that issues regarding a payment

By Michelle Toh, CNN Business It’s been nearly two years since Norris Fong has seen his family back in his native Singapore. Now, he’s had enough. The 33-year-old fashion buyer is soon leaving Hong Kong to return to his home country, citing frustration over the city’s coronavirus restrictions and lack of a clear reopening plan.

By Christina Carrega and Pete Muntean, CNN The Department of Justice has sued two major airlines on Tuesday, alleging the companies created an alliance that raised prices and reduced choice for air passengers traveling to and from major cities in the United States’ Northeast region. JetBlue and American Airlines last year created the “Northeast Alliance”

By Alexis Benveniste, CNN Business Clinique’s Black Honey lip color launched when Richard Nixon was president, but all these decades later it has gone viral on TikTok. Now, beauty stores and retailers can’t keep it on shelves. After it was introduced in 1971, the lipstick, which is known for its versatility and ability to complement

Airbnb has been on a wild ride. Many had doubted it could survive as Covid cases soared and the company lost 80% of its business. But now things are turning around for the vacation home rental business, with users booking longer stays thanks to greater flexibility in the way we live, work and travel. Co-founder

By Anneken Tappe, CNN Business The Federal Reserve is unlikely to take its foot off the stimulus gas pedal this week as the recovery has run into some roadblocks. Most notably: the Delta variant. Mere weeks ago, investors were convinced the central bank would announce a tapering of its massive pandemic stimulus program at its

By Peter Valdes-Dapena, CNN Business For kids interested in practicing their spycraft, Aston Martin is offering the perfect tool. It’s a battery-powered Aston Martin DB5, small enough for children to drive, and complete with various James Bond-style gadgets one could use to evade capture. It even goes pretty fast. Produced by The Little Car Company,

By Kathryn Vasel, CNN Business Think all-remote meetings are difficult? Running an effective and productive meeting is going to be even harder in a hybrid office…at least at first. When everyone is in person in the same room or when they are squished into the same small virtual boxes, the playing field is even for

By Frank Pallotta, CNN Business Melanie Newman and Jessica Mendoza aren’t done making history. The two sports announcers will be ESPN’s first all-woman broadcast team for a nationally televised Major League Baseball game on September 29. The game will mark the first time ESPN has had an all-woman broadcast team for a MLB, NBA, NFL