By Nathaniel Meyersohn, CNN Business In 1986, three retail veterans opened a chain of stores in the southeast named Only $1.00. They were building upon the concept of a store they had stumbled across called Everything’s A Dollar, and thought they could do it better. But Everything’s A Dollar wasn’t so thrilled to welcome the
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By Julia Horowitz, CNN Business If you want to determine where investors think the economy is heading, it makes sense to turn to shares of banks. Traditionally, banks boom during times of expansion and get hit hard during contractions as customers struggle to repay debts. They’re also extremely sensitive to interest rates, which affect how
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By Donie O’Sullivan and Clare Duffy, CNN Business Instagram says it prohibits drug sales, but accounts advertising the sale of Xanax, ecstasy, opioids and other drugs are still widespread and easy to find on the platform, including for young users, according to a report released by tech advocacy group the Tech Transparency Project (TTP) on
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By Samantha Murphy Kelly, CNN Business Video by John General, Janelle Gonzalez & Sofia Barrett, CNN Business Last September, just a few weeks into the school year, Sabine Polak got a call from the guidance counselor. Her 14-year-old daughter was struggling with depression and had contemplated suicide. “I was completely floored,” said Polak, 45, who
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By Matt Egan, CNN Business Prices at the pump have finally started to creep lower, and that trend should significantly accelerate in the coming months, according to new government forecasts. The US Energy Information Administration said Tuesday the national average for regular gasoline will probably drop to $3.01 a gallon in January. For 2022, gas
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By Jackie Wattles, CNN Business Yusaku Maezawa, a Japanese billionaire, soared into outer space aboard a Russian-built Soyuz capsule and rocket Wednesday morning, kicking off the first self-funded tourism mission to the International Space Station in a decade. The capsule took off from Russia’s Cosmodrome in Kazakhstan at 2:38 am ET Wednesday, and it’s slated
Continue Reading By Jackie Wattles, CNN Business Yusaku Maezawa, a Japanese billionaire, arrived at the International Space Station this morning after soaring into outer space aboard a Russian-built Soyuz capsule, kicking off the first self-funded tourism mission to the International Space Station in a decade. The capsule took off from Russia’s Cosmodrome in Kazakhstan at 2:38 am
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By Swati Gupta, Vedika Sud, Laura Smith-Spark and Rhea Mogul, CNN India’s top military official was killed Wednesday when an Indian Air Force (IAF) helicopter carrying 14 people crashed in southern India, the IAF confirmed, with only one survivor. Chief of Defense Staff Gen. Bipin Rawat died along with his wife, Madhulika Rawat, the IAF
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By Jennifer Korn, CNN Business If 2020 was defined by a spike in people frantically Googling for everything related to the coronavirus, this year saw the old standards of sports and entertainment make a resurgence in online searches around the world. Google released its annual “Year in Search” list on Wednesday, offering a glimpse into
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By Matt McFarland, CNN Business Elon Musk has described electric cars as critical to fighting climate change, which he’s said he believes could cause more displacement and destruction than all the wars in history combined. So you might think he’d support the federal government funding electric vehicle charging stations. But that’s not the case, at
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By Matt Egan, CNN Business Epic port congestion is easing. Shipping prices are falling from sky-high levels. Deliveries are speeding up a bit. There are growing signs that the supply chain mess is finally starting to get cleaned up. That’s not to say the supply chain nightmare is over. It’s not. And the situation may
Continue Reading By Matt McFarland, CNN Business Elon Musk has described electric cars as critical to fighting climate change, which he’s said he believes could cause more displacement and destruction than all the wars in history combined. So you might think he’d support the federal government funding electric vehicle charging stations. But that’s not the case, at
Continue Reading By Jackie Wattles, CNN Business Yusaku Maezawa, a Japanese billionaire, arrived at the International Space Station this morning after soaring into outer space aboard a Russian-built Soyuz capsule, kicking off the first self-funded tourism mission to the International Space Station in a decade. The capsule took off from Russia’s Cosmodrome in Kazakhstan at 2:38 am
Continue Reading By Matt Egan, CNN Business Americans grappling with historic levels of inflation are finally getting some relief where they need it most: Previously-booming energy prices. After a relentless rise, prices at the pump are heading south. The national average price for a gallon of regular gas fell to a seven-week low of $3.35 a gallon
Continue Reading By Chris Isidore, CNN Business Workers at four Kellogg cereal plants have rejected a tentative labor deal, voting to continue their two-month long strike at the company, the union announced Tuesday. The union did not disclose the vote count among its 1,400 members at Kellogg, other than to say the rejection of the offer was
Continue Reading By Paul R. La Monica, CNN Business Heading into the start of 2021, Robinhood was expected to be one of the most successful initial public offerings of the year. Robinhood was widely hyped and praised by investors for helping democratize Wall Street trading. What could go wrong? A lot, as it turns out. Even though
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By Mostafa Salem and Walé Azeez, CNN Business The United Arab Emirates and its international finance hub Dubai are switching to a four-and-a-half-day work week ending at midday Friday to make it easier to do business globally. The move away from the current Sunday to Thursday schedule — the first by a Gulf state —
Continue Reading By Swati Gupta and Amy Woodyatt, CNN A teenager has been arrested in western India for beheading his 19-year-old sister while his mother allegedly held the young woman’s legs, according to police. The victim, who got married against her parents’ wishes, was two months pregnant, police told CNN Tuesday, citing her husband. The incident happened
Continue Reading By Ramishah Maruf, CNN Business Christian Chapman, a former underwriter at Better.com, thought he was logging onto another of CEO Vishal Garg’s town halls. He didn’t know it would be his last call as an employee of the online mortgage company. “If you’re on this call, you are part of the unlucky group that is
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By Sara Ashley O’Brien, CNN Business Elizabeth Holmes’ marathon testimony is expected to conclude on Wednesday morning, capping six days on the witness stand considered the main event of one of the highest-profile Silicon Valley trials in decades. Each side sought to portray vastly different portraits of Holmes to the jury. Prosecutors tried to show
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