Money

By Danielle Wiener-Bronner, CNN Business The biggest trend in snacking is something small: Chip bags and sodas are going mini. PepsiCo is seeing “huge growth [in] small-format” snacks, as well as for mini cans of its full-sugar products, CEO Ramon Laguarta said Tuesday on an earnings call. The reason? “Portion control,” Laguarta said. PepsiCo has

By Laura He, CNN Business China’s real estate crisis is escalating, raising concerns about growing risks in the banking system. Desperate homebuyers across dozens of cities are refusing to pay mortgages on unfinished homes, according to state media reports and economists at international banks. In China, real estate firms are allowed to sell homes before

By Anna Cooban and Livvy Doherty, CNN Business Emirates airline has blasted one of the world’s busiest airports for its “incompetence” in failing to handle a surge in passengers. The Dubai-based airline on Thursday slammed demands made by London’s Heathrow airport earlier this week that carriers stop selling any more tickets for this summer. The

By Sean Lyngaas, CNN In the days before the January 6, 2021, insurrection, Chinese hackers sent out a flurry of malicious emails to prominent White House correspondents and other journalists at major US news outlets in an apparent intelligence collection effort, US cybersecurity firm Proofpoint said Thursday. As Chinese hackers scrambled to ascertain whether there

By Anna Bahney, CNN Business Rent continued to skyrocket to new record highs in Manhattan last month. The median monthly rent paid by a tenant for a condo or coop in Manhattan climbed to $4,050 in June, up nearly 25% from a year ago and setting a new record high for the fifth month in

By Danielle Wiener-Bronner, CNN Business Food prices are still on the rise, but some relief may be on the horizon. In the 12-months ending in June, overall food prices rose 10.4%, the biggest annual increase since February 1981, according to data released Wednesday by the Bureau of Labor Statistics. Grocery prices jumped 12.2% in the

By Nathaniel Meyersohn, CNN Business In 1969, real estate investor Don Fisher opened a store in San Francisco aimed at teens and college kids, offering Levi’s blue jeans alongside records and tapes. Fisher planned to call the store Pants and Discs, but his wife Doris came up with the winning name: “The Gap,” shorthand for

Opinion by Suzanne DiBianca for CNN Business Perspectives The US Supreme Court’s ruling limiting the EPA’s authority to regulate greenhouse gas emissions is a wake-up call for Congress to pass urgent and meaningful legislation on climate and clean energy. The ruling not only impedes the federal government’s ability to slow climate change — it also

By Julia Horowitz, CNN Business When the latest data on consumer prices in the United States landed Wednesday, the headline number was ugly. Inflation surged to 9.1% in June, according to data from the Bureau of Labor Statistics. That was higher than economists polled by Refinitiv were forecasting. It was also much higher than the

By Chris Isidore, CNN Business A bad quarter for Delta Air Lines passengers turned into a bad quarter for Delta investors, as the costs of service disruptions, coupled with high fuel prices and rising pay for employees, caused the company to fall well short of earnings forecasts. Delta posted adjusted earnings of $735 million in

By Laura He, CNN Business A scorching heat wave in China has forced a major manufacturing region to appeal to businesses and households to use less power, while fear of crop failure is sending pork prices soaring. Dozens of cities have been experiencing record-high temperatures at a time when the economy is still trying to

By Frank Pallotta, CNN Business Dave Chappelle‘s Netflix comedy special, “The Closer,” received huge backlash last year for the comedian’s jokes about the trans community that some found deeply offensive. The fallout created a firestorm both inside and outside of Netflix. Fast forward to Tuesday, when “The Closer” was nominated for two Emmys. “The Closer”

By Matt McFarland, CNN Business Jason Simon placed an order for a Tesla Model 3 this April, eager to own an electric vehicle. He heard from Tesla in June that his car was ready, but he backed out of the purchase, losing the $250 order fee he paid. Simon told CNN Business his feelings changed

By Chris Isidore, CNN Business Ethiopian Airlines took delivery of a 737 Max from Boeing in June, the aircraft maker disclosed Tuesday. It’s the first time Ethiopian has taken a 737 Max since the March 2019 crash that killed all 157 people on board, and led to a 20-month grounding of the jet. The other

By Frank Pallotta, CNN Business Matthew Berry, ESPN’s longtime fantasy sports guru, is leaving the network, Berry and ESPN announced Monday. “Here is a sentence I never thought I’d write. I can confirm that after 15 amazing years, I am leaving ESPN,” Berry tweeted Monday. He added that when he came to the company in

By Julia Horowitz, CNN Business The US dollar is rising at a blistering clip, reaching its strongest level against other major currencies in almost two decades. That’s helpful for American tourists traveling abroad this summer. But on Wall Street, it’s growing cause for concern. “A very strong US dollar provides yet another headwind for earnings,”

By Livvy Doherty, CNN Business Heathrow Airport is asking airlines to stop selling any more tickets for travel this summer, as it announces a cap on passengers allowed to fly from the airport. The London airport will limit passengers to 100,000 a day until September 11, as it struggles to cope with high demand and

By Laura He, CNN Business Chinese authorities will start refunding bank customers whose accounts have been frozen for months, following some of the biggest protests the country has seen since the start of the pandemic. Customers from four rural banks in the central province of Henan, and one in neighboring Anhui province, will be repaid

By Nicole Goodkind, CNN Business For the first time in 20 years, the exchange rate between the euro and the US dollar has reached parity — meaning the two currencies are worth the same. The euro hit $1 on Tuesday, down about 12% since the start of the year. Fears of recession on the continent

By Michelle Toh, CNN Business Disney is bringing BTS to its streaming services, adding the world’s biggest band to its roster of digital stars. In an announcement shared first with CNN Business, the entertainment giant said Monday that it would add new original shows featuring members of the South Korean pop group to Disney+. That

By Julia Horowitz, CNN Business When Elon Musk announced his intention to buy Twitter almost 90 days ago, the world — and financial markets — looked different. The S&P 500 was 14% higher and had yet to enter a bear market. The war in Ukraine and inflation concerns had pushed investors into selling mode, but

By Nectar Gan, CNN Chinese authorities on Sunday violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis. Since April, four rural banks in China’s central Henan province have frozen millions of dollars worth of deposits,

By Nicole Goodkind, CNN Business Earnings season is upon us once again! It’s just like the holiday season except instead of presents and sweets we get financial results and conference calls. Big bank earnings will mark the unofficial beginning of the second quarter earnings period when they report next week, starting with JPMorgan Chase on

by Alexandra Peers, CNN Business Sixty years ago today, the pop artist Andy Warhol unveiled a wall of 32 Campbell Soup can paintings at a Los Angeles gallery, one for each flavor of soup then in production. Not long after, the company sent over a lawyer. Thus began a decades-long hate-love relationship between the artist

By Matt McFarland, CNN Business Argo AI, the self-driving company backed by Ford and Volkswagen, is shutting down its Washington, DC operation as part of a broader round of layoffs impacting about 150 people across the company. Ford had planned to launch a robotaxi service in DC last year with Argo AI’s technology, but the

By Christine Romans, CNN Business It’s “almost impossible” for the Fed to tamp down inflation without tipping the US economy into a recession, says Former IMF Chief Economist Ken Rogoff. “[The Fed] would have to be very lucky,” Rogoff told CNN’s Christine Romans on Early Start. “They have to decide: Do they have to have

By Alicia Wallace, CNN Business The US economy added 372,000 jobs in June, an unexpected boost in hiring and a signal that the labor market remains robust despite recession fears, according to the monthly jobs report from the Bureau of Labor Statistics released Friday. The unemployment rate held steady at 3.6%, still close to the 52-year low last reached

By Diksha Madhok, CNN Business India risks damaging its reputation among foreign investors with its “frequent investigations” into Chinese companies, Beijing said this week. China’s embassy in India said in a statement Thursday that probes by Indian authorities into Chinese companies were disrupting “normal business activities” and chilling “the confidence and willingness of market entities