The European Central Bank is moving ahead with efforts to create a digital version of the euro as the use of cash declines and China ramps up tests of its own e-yuan.The central bank announced a two-year investigation on Wednesday…
The European Union has announced plans to end the sale of polluting vehicles by 2035, an ambitious goal that would put hybrid cars on the endangered species list and usher in a rapid and dramatic shift to fully electric models.The…
The difference between CEO and median employee pay grew in 2020 despite the Covid pandemic and ongoing relief efforts.The average S&P 500 company CEO made 299 times the average worker's salary last year, according to AFL-CIO's annual Executive Paywatch report.…
Restaurant owners can add the rising cost of food to their growing list of challenges.Inflation is on the rise throughout the country, and independent restaurant leaders say many of their businesses will soon be forced to permanently shut down unless…
US wholesale prices posted the biggest 12-month increase on record.That's the bad news. But the US economy offered some rare good news on inflation Wednesday, too: Costs didn't rise as much in June as they did in May, raising hopes…
America's finance chiefs don't think inflation will go away overnight.Chief financial officers, on average, expect higher-than-normal cost increases to persist for eight to 10 months, according to a Duke University survey released Wednesday.Some worry inflation will linger longer. About one…
US prices continue to march higher, triggering concerns among economists, policymakers and business leaders about the sustainability of the post-pandemic recovery.What's happening: The US Consumer Price Index, a key inflation gauge, jumped 0.9% in June, the largest one-month increase in…
A version of this article first appeared in the "Reliable Sources" newsletter. You can sign up for free right here."Make no mistake," President Biden said Tuesday, "bullies and merchants of fear, peddlers of lies, are threatening the very foundation of…
Editor's Note: A version of this story appeared in CNN Business' Nightcap newsletter. To get it in your inbox, sign up for free, here. Today in business news: Prices are surging; Wall Street banks are minting money; and Coke Zero…
Fitch Ratings warned on Tuesday that the United States could lose its perfect credit rating due in part to the ongoing assault on democracy and worsening political polarization.The credit ratings firm said that governance is a "weakness" for the United…
Streaming vs. movie theaters: It's a conflict that has dominated the Hollywood narrative over the last few years.However, two of the biggest hits this summer have shown that the two sides can get along.A Quiet Place, Part IIParamount announced that…
There's no escaping it: Prices are rising across the board, including all the essentials -- food, clothing and shelter.American home prices are up 20% over the past year. Prices of food eaten outside the home were up more than 4%…
Prices keep rising in the United States, putting a squeeze on American consumers' wallets. That trend got worse in June.The consumer price index, the nation's key inflation measure, jumped 0.9% in June, the largest one-month increase in 13 years. Over…
Goldman Sachs, once known as the Vampire Squid of Wall Street, may have gotten a friendlier makeover under CEO David Solomon. But the investment banking giant is still spreading its tentacles into many corners of the market — and making…
It's been quite some time since Corporate America saw numbers this good.What's happening: Earnings season kicks off in earnest on Tuesday, and expectations for corporate profits are extremely high. According to FactSet, S&P 500 companies are due to report year…
Even when Boeing has its best month in years, it has problems.Boeing on Tuesday disclosed a new issue with the 787 Dreamliner widebody jet, which has been dogged with problems since August. The company said some of the planes' fuselage…
JPMorgan Chase is minting money as the US economy races back from the pandemic.America's largest bank said Tuesday it hauled in $11.9 billion in profit during the second quarter, up 155% from the same period of 2020.JPMorgan's bottom-line growth was…
The failure by major oil producers to agree on supply increases could elevate fuel prices, stoking inflation and weighing on the recovery from the coronavirus pandemic, the International Energy Agency has warned.The Paris-based organization said in a report on Tuesday…
After the wild success of its chicken sandwich, Popeyes is adding more poultry to its menu with the launch of nuggets.The item will be available starting July 27 to Popeyes customers in the United States, Canada and Puerto Rico. The…
If you're a big fan of Coca-Cola Zero Sugar, you may want to brace yourself: The recipe for your beloved drink is changing.Coca-Cola said Tuesday that it is tweaking the beverage in an effort to make the drink taste more…
