Money

By Jordan Valinsky, CNN Business About 13,000 pounds of frozen pizza made by Home Run Inn Frozen Foods is being recalled because of potential metal contamination. The pizza’s meat topping “may be contaminated with extraneous materials, specifically metal,” the US Department of Agriculture’s Food Safety and Inspection Service said in a release Sunday. Some customers

Opinion by Johnny C. Taylor, Jr. for CNN Business Perspectives As restaurants, malls and movie theaters fill back up with people, the workplace has remained nearly empty. This is partly driven by how engrained remote work has become in society. People have invested in creating workspaces in their homes, relocated to smaller towns and even

By Julia Horowitz, CNN Business The most powerful business lobby in the United States is not a fan of the landmark heath care and climate package President Joe Biden is expected to shortly sign into law. “Business Roundtable opposes the ‘Inflation Reduction Act,’ which, among other things, includes tax provisions that would undermine American economic

By Laura He, CNN Business China’s central bank cut interest rates on Monday as new data showed the economy losing steam last month because of renewed Covid lockdowns and a deepening property downturn. The People’s Bank of China reduced the main rate at which it provides short-term liquidity to banks, from 2.1% to 2%. The

By Rhea Mogul, CNN Standing in front of the historic Red Fort in Delhi, Prime Minister Narendra Modi on Monday pledged to transform India into a developed country in the next 25 years. “The way the world is seeing India is changing. There is hope from India and the reason is the skills of 1.3

By Paul R. La Monica, CNN Business Robinhood, as its name suggests, was designed to take the power of the stock market away from the rich fat cats on Wall Street and hand it over to regular people. Now, ironically, Robinhood may need to join forces with one of the very titans of Wall Street

By Nicole Goodkind, CNN Business There appears to be some confusion about the trajectory of prices in the US. That’s partially because month-over-month inflation eased in July while year-over-year, it remained near historic highs. That raises an important question for consumers and investors alike: Is inflation peaking or not? The answer, according to the market

By Anna Cooban, CNN Business Britons are bracing themselves for more tough times ahead as the economy starts to shrink and a new forecast suggests average annual energy bills could exceed £5,000 ($6,000) next year. Official data published on Friday showed that the country’s GDP dropped by 0.1% in the second quarter of this year.

By Laura He, CNN Business A Chinese sci-fi comedy about an astronaut stranded on the moon has shattered summer box office records in China, providing much-needed lift to the world’s second largest cinema industry that continues to grapple with Covid lockdowns. “Moon Man,” which was adapted from a webtoon of the same name by Korean

By Matt McFarland, CNN Business Rivian said Thursday that it lost $1.7 billion in the second quarter of 2022 as it works to ramp up its vehicle production amid the on-going supply chain crunch. The automaker’s losses more than doubled from the same period last year, when it lost $580 million. Rivian CEO RJ Scaringe

by Matt Egan, CNN Shell and Chevron both said on Thursday that the companies halted oil production at several platforms in the Gulf of Mexico following a small leak that knocked a pair of pipelines offline. Shell shuttered three deepwater platforms. In a statement provided to CNN, Shell said it is “coordinating with local authorities

By Anna Bahney, CNN Business Despite rising mortgage rates that dampened sales, home prices continued to climb higher in the second quarter, with many more cities seeing double-digit price gains than in the first part of the year. The median single-family existing home price in the second quarter was $413,500 — the first time this

By Jordan Valinsky, CNN Business For the third year in a row, the United States Postal Service is hiking the prices of its delivery services — but just for a few months. The postal service is requesting a temporary price increase on a variety of mail services for the peak holiday season to offset rising

By Parija Kavilanz, CNN Business As parents and teachers prepare for students to return to classrooms this fall, they’re grappling with how much more the most basic school supplies will cost. From glue, markers, pens and tape to backpacks, sneakers, even underwear, price tags on these necessities have jumped over the last year as inflation

Opinion by Mark Wolfe for CNN Business Perspectives The Inflation Reduction Act, the Democrats’ tax, climate and health care bill that the Senate just passed, sets the nation on a path to meet its climate goals, and provides a set of practical initiatives that will help lower-income Americans who have fewer resources than other households

By Michelle Toh, CNN Business Forget taking two to three Covid shots a year. Moderna hopes to roll out a single-dose annual booster to cover the coronavirus, the flu and another common respiratory virus within the next five years. As Covid-19 continues to mutate, Moderna will need to keep updating the vaccines that turned it

By Nicole Goodkind, CNN Business Prices in the US stayed the same last month. That’s a cause for celebration: it’s the first time they haven’t gone up since November 2020. It could also mean that the Fed’s efforts to curb inflation are finally working and that a soft landing, where inflation is limited without toppling

By Laura He, CNN Business SoftBank is set to gain more than $34 billion by cutting its stake in Alibaba, the crown jewel of its investment portfolio, after posting record losses on its tech bets this year. The Japanese company said Wednesday that it would reduce its stake in the Chinese e-commerce giant to 14.6%

By Peter Valdes-Dapena, CNN Business General Motors is selling three years of OnStar service as a $1,500 “option” on all Buick and GMC vehicles, as well as on Cadillac Escalade SUVs. But this is an option you can’t refuse. A three-year OnStar subscription is now simply standard equipment on all these models, GM spokesman Patrick

Opinion by Mike Litt for CNN Business Perspectives America’s credit reporting system is broken. We saw the latest evidence of this last week, when news broke that Equifax sent lenders millions of incorrect credit scores, some of which were off by at least 25 points, for consumers applying for auto loans, mortgages and credit cards.

Martha C. White for CNN Business Runaway inflation took a breather in July, with consumer prices increasing by 8.5% year over year, a slower pace than the 9.1% increase in June, the Bureau of Labor Statistics reported Wednesday. On a month-to-month basis, inflation was 0%, compared to the 1.3% increase in June. Prices began rising

By Chris Isidore, CNN Business Tesla CEO Elon Musk sold 7.9 million shares of Tesla in recent days, raising $6.9 billion with the sales. The sales from Friday through Tuesday were disclosed in a series of filings with the Securities and Exchange Commission late Tuesday night. They mark the first sale of Tesla shares by

By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Fox News largely refrains from criticizing Donald Trump. But, in private, Lachlan Murdoch has denounced some of the former President’s behavior in harsh terms. In private this year, the Fox

By Paul R. La Monica, CNN Business Crypto brokerage Coinbase has been hit hard by the meltdown in bitcoin prices this year. The stock has plunged 65% so far in 2022. And the company’s latest earnings, due out after the closing bell Tuesday, are likely to be miserable. Wall Street is forecasting a more than

Opinion by Sarah Anderson and Rebekah Entralgo for CNN Business Perspectives Imagine if America’s ultra-wealthy invested the financial gains they made during the pandemic in affordable housing, child care centers or any of our country’s other urgent human needs. As of May, US billionaires had seen their wealth rise by more than $1.7 trillion —