Business/Consumer CNN Wire

Elon Musk changes his tune on bitcoin mining

Bitcoin and other cryptocurrencies plunged earlier this month after Elon Musk said Tesla would stop accepting bitcoin as payment for its vehicles because of the huge amount of energy needed to mine bitcoin. But Musk might be having a slight…

Wall Street is facing a $9 trillion problem

Central banks were the superheroes of the early phase of the pandemic, taking dramatic steps to save the economy and financial markets from ruin.Now, as the recovery kicks into gear, they've become a major risk for investors.What's happening: The latest…

HSBC doesn't want in on bitcoin mania

HSBC CEO Noel Quinn isn't buying into the bitcoin craze.The chief executive told Reuters in an interview this week that his bank has no plans to launch a cryptocurrency trading desk, and "given the volatility, we are not into bitcoin…

Crypto investors to Elon Musk: Please stop tweeting!

The prices of bitcoin, dogecoin and other digital currencies have plunged more than 40% in recent weeks. While Elon Musk isn't the only reason for the crypto carnage, he certainly isn't helping.Whether it's going on "Saturday Night Live" and joking…

Virgin Galactic shares soar like a rocket

Virgin Galactic's successful test flight to the edge of space Saturday has helped to get its stock climbing again.Shares of Virgin Galactic shot up 20% in midday trading Monday after Saturday's flight. The stock is up more than two-thirds from…

The great commodities boom hits a Chinese wall

In recent weeks, investors have poured money into bets on raw materials like steel and iron ore, confident that limits to supply and massive post-pandemic demand would trigger one of the biggest price spikes in decades.Now, thanks to action from…