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By Julia Chatterley In its efforts to battle rising inflation, the Federal Reserve may start rolling back some of its massive pandemic-related stimulus. In minutes from its September meeting released Wednesday, the Federal Reserve signaled that it could begin tapering its monthly purchases of Treasury and mortgage-backed securities as soon as November. The bond purchases

By Danielle Wiener-Bronner, CNN Business A year after announcing plans to introduce the McPlant burger, McDonald’s is ready to test it out in the United States. The McPlant, featuring a plant-based patty created in partnership with Beyond Meat, will be available at eight restaurants for a limited time starting November 3, McDonald’s said Thursday. The

By Chris Isidore, CNN Business Wells Fargo’s third-quarter earnings were up 59% after it freed up money it had set aside to cover loan losses. The bank said it reduced the money it set aside to cover loan losses by $1.7 billion. It had raised those loan loss reserves early in 2020, when the future

By Hannah Ryan, CNN Business Prince William has criticized billionaires who are focused on space tourism, saying they should instead be investing more time and money in saving Earth. The Duke of Cambridge spoke about the current rush for space travel in an interview with the BBC’s Newscast podcast, which aired on Thursday. He said:

By Oliver Darcy, CNN Business Nicholas Kristof, the Pulitzer Prize winning journalist, announced Thursday that he is departing The New York Times as he explores a run for governor of Oregon. “I’ve been on the ride of a lifetime with The Times. I’ve gotten to know presidents and tyrants, Nobel laureates and warlords, while visiting

Opinion by Rob Reich, Mehran Sahami and Jeremy M. Weinstein for CNN Business Perspectives Frances Haugen’s spellbinding testimony before Congress last week riveted the attention of lawmakers and the country. She claimed that Facebook’s own research found that the platform is harmful to teenage girls and amplifies dangerous speech that has led to violence and

By Leah Asmelash, CNN There was a moment last year, as Covid-19 brought the entire planet to a standstill, when the chef and owner of one of the world’s most renowned and expensive restaurants thought he might lose everything. Daniel Humm’s restaurant, Eleven Madison Park, has three Michelin stars and had recently topped the World’s

By Charles Riley, CNN Business Inflation is high. It could stay that way. The US consumer price index rose 5.4% over the previous year in September, according to data published Wednesday. Stripping out food and energy, which tend to be more volatile, prices rose 4% over the same period. Inflation has now been at elevated

Story and video by John General The van rumbled through the desert in central California. Scorched Earth from controlled burns lined one side of dirt road we were traveling along. Surely, this van needed new shocks. The 105-degree heat bore down on us as we rounded some brush and came across a barren airstrip. One

By Laura He, CNN Business The cost of goods leaving China’s factories is surging by the highest rate on record, stoking fears about stagflation in the world’s second largest economy at a time when it is already grappling with an extreme power crunch and deepening debt woes. The producer price index — which measures the

By Michelle Toh, CNN Business Disney is coming after Netflix in Asia. The owner of Disney+ announced a major expansion into Asian content on Thursday, with plans to greenlight more than 50 original titles from the region by 2023. Disney is commissioning new shows from South Korea, Japan, Australia, Taiwan and Indonesia. Many of the

By Chris Isidore, CNN Business About 10,000 members of the United Auto Workers union went on strike against farm and construction equipment maker John Deere early Thursday morning. The UAW had reached a tentative agreement on a new six-year contact with the company two weeks ago, only to see 90% of the rank-and-file members of

By Anneken Tappe, CNN Business US inflation remains much higher than anyone would like — consumers, the White House, the Federal Reserve… In September, prices stayed high, returning to a 13-year peak after dipping a bit in August. Consumer price inflation — one of the key inflation indicators — rose 0.4% in September, adjustefor seasonal

By Chris Isidore, CNN Business Delta reported a quarterly operating profit in the third quarter, the first major US passenger airline to post a profit since the start of the pandemic. The company earned $194 million in the quarter, adjusted for special items. That’s down from $1.5 billion it earned in the quarter in 2019,

By Charles Riley, CNN Business US stocks have stumbled lower in recent weeks as investors try to assess the threat posed by snarled supply chains, a global energy crisis and rising inflation that could prompt central banks to pull back stimulus. “The market is tip toeing forward lost as it is in the fog and

By Hanna Ziady and James Frater, CNN Business Soaring energy prices are a stark reminder of how dependent Europe is on fossil fuels and should serve to accelerate the shift towards renewable forms of energy. “This experience today of the rising energy prices is a clear wake up call… that we should accelerate the transition