Money

By Diksha Madhok, CNN Business China has applied to join a major Asia-Pacific trade partnership that the United States ditched several years ago, as the world’s second largest economy tries to bolster its relationships in the region. Chinese Commerce Minister Wang Wentao applied for membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),

By Michelle Toh, CNN Business The troubles of Chinese conglomerate Evergrande have dominated headlines after it warned once again that it could default on its astronomical debt because of a cash crunch. Experts have characterized the firm’s struggles as a major test for Beijing that risks turning into China’s Lehman Brothers moment, sending shockwaves across

By Jeanne Sahadi, CNN Business Maintaining a healthy environment during a pandemic without alienating employees and customers who don’t want to wear masks or get vaccinated has been a headache for small business owners. Although everyone has questions about how it will work, some were relieved by President Biden’s announcement last week that employers with

By Brian Stelter, CNN Business Sony Pictures Television has bought itself some time to sort out its “Jeopardy!” mess. Mayim Bialik and Ken Jennings, who are both part of the game show’s television family, will host the show “through the end of the calendar year,” Sony said Thursday. This timing will give Sony executives at

By Chris Isidore, CNN Business United Airlines has achieved a high level of compliance with the strict vaccine mandate it set for its 67,000 US employees. But the airline’s CEO doesn’t believe expanding that requirement to passengers is a good idea. United CEO Scott Kirby told CNN that about 90% of the company’s employees have

By Allison Morrow, CNN Business This week the Wall Street Journal released a series of scathing articles about Facebook, citing leaked internal documents that detail in remarkably frank terms how the company is not only well aware of its platforms’ negative effects on users but also how it has repeatedly failed to address them. There’s

By Matt Egan, CNN Business The implosion of Lehman Brothers, 13 years ago this week, showed how the collapse of a single entity can send shockwaves around the world. Echoes from that event are resounding today as a massive property developer on the other side of the world teeters on the brink of default. The

By Matt McFarland, CNN Business Frustrated Tesla owners continue to wait for “full self-driving,” an expensive and long-delayed software feature that isn’t even guaranteed to help their cars’ resale values. Some of the company’s earliest backers of the “full self-driving” option are even beginning to lose faith in the promise of ever enjoying a truly

By Hanna Ziady, CNN Business The United Arab Emirates will pour £10 billion ($13.8 billion) into the United Kingdom over the next five years, as the Gulf state seeks to diversify its economy beyond fossil fuels. The UK Office for Investment and UAE sovereign wealth fund Mubadala announced the investment in a statement on Thursday,

By Kristin Fisher, CNN Business The four people aboard SpaceX’s Inspiration 4 mission flew higher than the International Space Station, but that still may not be enough to earn them their official commercial astronaut wings from the federal government. Astronaut wings don’t have any significance beyond their symbolic value, but they are quickly becoming the

By Julia Horowitz, CNN Business After months of speculation, Piers Morgan has made his next move: teaming up with media mogul Rupert Murdoch. The controversial British TV personality said Thursday that he’s inked a deal with Murdoch’s News Corp and Fox News Media. He’ll launch a new TV show in early 2022, and will join

By Nathaniel Meyersohn and Anneken Tappe, CNN US retail sales increased last month as consumers continued to dish out on clothing, furniture and groceries despite rising cases of the Covid-19 Delta variant. Sales beat economists’ expectations, increasing 0.7% in August from the month prior, the Census Bureau said Thursday. Economists surveyed by Refinitiv had forecast

By Hanna Ziady, CNN Business Marks & Spencer is closing 11 of its stores in France because of supply chain problems related to Brexit. The UK retailer on Thursday said “lengthy and complex” export processes introduced after Brexit had made it difficult to get fresh products such as sandwiches and salads from Britain to Europe.

By Julia Horowitz, CNN Business The Delta variant continues to be a concern for retailers. But expectations for a merry holiday season remain intact. What’s happening: US retail sales increased last month as consumers continued to dish out on clothing, furniture and groceries. Sales beat economists’ expectations, increasing 0.7% in August from the month prior,

By Charles Riley, CNN Business Cigarette giant Philip Morris International has taken control of UK inhaler maker Vectura despite objections from health care charities. The producer of Marlboro and Parliament cigarettes said in a statement on Thursday that it had secured nearly 75% of Vectura’s shares, making it the majority shareholder. More than 45% of

By Jordan Valinsky, CNN Business The newest version of Bud Light is even lighter. Anheuser-Busch has announced the launch of Bud Light Next, the company’s first-ever zero-carb beer. The beverage, which hits shelves in early 2022, comes as health-conscious customers have gravitated toward light beers in recent years — and beer in general is in