By Jackie Wattles, CNN Business When future generations write about the history of space travel, 2021 may well get its own chapter. “The year of the billionaires,” it might be called. Jeff Bezos and Richard Branson each took supersonic joy rides to the edge of space, finally bringing their competing private-sector spacecraft into operation after
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By Anneken Tappe, CNN Business America is finishing the year with decades-high inflation. That doesn’t bode well for 2022. Prices have climbed so high it will take some time for them to come back down to earth. In other words, the uncomfortable inflation numbers of 2021 will likely stay with us well into the New
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By Parija Kavilanz, CNN Business It’s New Year’s Day, and many of us are probably staying cocooned in our homes, contemplating the year ahead. But others among us might need to go about our regular weekly routines, including venturing out to shop for groceries, diapers, treats for the pooch and picking up prescription refills. If
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By Reuters Spirit Airlines flight attendants are receiving double pay on any work through January 4, their union said, as the budget carrier scrambles to keep its schedules intact after U.S. airlines were hammered by a week of mass cancellations. The holiday season has been marred by delayed or canceled flights, causing chaos at most
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By Clare Duffy, CNN Business Bob Iger, Disney’s former chief executive and long-time executive chairman, is officially ending his tenure Friday after just shy of half century at the company. Iger announced he would leave the company when his contract ended at the close of this year. “This is the end of my 47 1/2
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By Paul R. La Monica, CNN Business Cruise company stocks had been holding up remarkably well in December despite concerns about Covid outbreaks on ships and the rapidly spreading Omicron variant. But that’s no longer the case. The US Centers for Disease Control and Prevention said Thursday that even vaccinated people should no longer take
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By Gregory Wallace, CNN Business The Federal Aviation Administration is warning more air travel headaches may be in store, even as airlines cancel thousands of flights because of coronavirus crew shortages and other issues. The FAA said Friday an “increased number” of its own employees are testing positive for the virus. That could force it
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By Matt Egan, CNN Business Omicron is messing with back-to-the-office plans for both JPMorgan Chase and Citigroup. Citing the spike in Covid-19 cases, both big banks told US employees on Thursday that they can start 2022 by working remotely. In a memo obtained by CNN, Citi asked its US employees to work from home for
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By Chris Isidore, CNN Business Warren Buffett, the ninth-richest person on the planet, says it’s not up to him to settle a strike by 450 steelworkers at a company he owns. Sen. Bernie Sanders wrote a letter to the Berkshire Hathaway CEO, requesting that he intervene in a United Steelworkers union strike at the Special
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By Paul R. La Monica, CNN Business The year’s last day of trading was a relatively quiet one. Stocks ended the day slightly lower Friday. But 2021 was still a banner year for Wall Street. The Dow fell about 60 points Friday, or 0.2%. It was up 19% this year. The Nasdaq closed down 0.6%
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By Parija Kavilanz, CNN Business Ikea said its customers will pay more when they shop at its stores in 2022. Like many companies with tight profit margins, the world’s biggest furniture seller is struggling to absorb higher costs because of ongoing global supply chain problems. Ikea said prices at its stores will increase by an
Continue Reading By Parija Kavilanz, CNN Business Ikea said its customers will pay more when they shop at its stores in 2022. Like many companies with tight profit margins, the world’s biggest furniture seller is struggling to absorb higher costs because of ongoing global supply chain problems. Ikea said prices at its stores will increase by an
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By Matt Egan, CNN Business The US economy is heading into 2022 with serious momentum. The recovery gained steam in the last few months, capping off what could be the fastest year of GDP growth since 1984, when Ronald Reagan was in the White House. The hope is this rapid expansion continues in 2022, allowing
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By Diksha Madhok and Jill Disis, CNN Business Chinese tech stocks got a big boost in Hong Kong on the last day of the year, but it’s far from enough to make up for what has been a historically tumultuous time for the sector. Shares in tech and internet giants Alibaba, Baidu and Bilibili —
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By Jill Disis, CNN Business Activity at China’s big factories continued to pick up this month even as the country battles stubborn Covid-19 outbreaks that threaten to hamper production. Manufacturing activity increased to 50.3 in December from 50.1 in November, according to survey data released by China’s National Bureau of Statistics on Friday. It was
Continue Reading By Jill Disis, CNN Business Activity at China’s big factories continued to pick up this month even as the country battles stubborn Covid-19 outbreaks that threaten to hamper production. Manufacturing activity increased to 50.3 in December from 50.1 in November, according to survey data released by China’s National Bureau of Statistics on Friday. It was
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By Hannah Ritchie, Teele Rebane and Eric Cheung, CNN Business Hong Kong’s flagship airline warned Friday that strict new quarantine measures in the city could lead to “dramatic disruptions” to local supply chains, as the company is forced to curb some passenger and cargo flights. Cathay Pacific’s note of caution came as the Hong Kong
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By Parija Kavilanz, CNN Business Enough already! Can we call it a wrap on 2021? As if this year hasn’t been challenging enough, it’s leaving us with one more parting shot — a Champagne shortage. Revelers looking forward to cheering in 2022 with a favorite bubbly should brace for possible disappointment — especially if you
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By Jennifer Korn Over 475,000 Tesla (TSLA) cars have been recalled due to technical defects that may increase the risk of accidents. Two separate recalls are in place, one regarding the rear-view camera in the Tesla Model 3 and the other involves the frunk, or front trunk, latches in the Model S. The large recall
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By Diksha Madhok, CNN Business Two of the world’s biggest chipmakers are warning that Covid-19 outbreaks and stringent lockdowns in a major Chinese industrial hub are hampering their operations. Samsung and Micron said this week that they’ve had to adjust operations in the northwestern city of Xi’an, which is experiencing one of China’s worst community
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