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By Matt Egan, CNN Business Natural gas futures soared Wednesday as energy markets brace for a powerful winter storm that threatens to derail production just as demand rises. The latest spike will keep home heating costs for millions of Americans elevated, adding to a long list of inflationary headaches. Natural gas futures surged 16% Wednesday

By Matt McFarland, CNN Business A German teenager says he found a vulnerability in an app installed in some Teslas, which allowed him the ability to unlock doors, flash headlights and blast music. The hack highlights the relative lack of oversight in apps that some drivers can download to their cars. David Colombo identified a

By Paul R. La Monica, CNN Business Omicron, inflation and a lack of government stimulus have some Venmo users nervous about spending money from their digital wallets. That’s bad news for Venmo owner PayPal — and a potential warning sign for consumer spending in general. PayPal executives warned during the company’s earnings call with analysts

By Jordan Valinsky, CNN Business Wendy’s is expanding its breakfast menu for the first time since launching it nearly two years ago. Beginning February 8, the chain is adding a Hot Honey Chicken Biscuit, a fried chicken cutlet that’s drizzled with hot honey sauce infused with habanero pepper and served on a buttermilk biscuit for

By Danielle Wiener-Bronner, CNN Business Starbucks has been hiking prices as inflation soars and labor costs rise. And it’s planning more this year. The coffee chain raised its US prices in October and again just last month in January, CEO Kevin Johnson noted during an analyst call Tuesday. He added that the company is planning

By Brian Stelter and Oliver Darcy, CNN Business CNN Worldwide president Jeff Zucker, the influential news executive who reshaped the iconic network, announced Wednesday morning that he has resigned from his position effective immediately. Zucker’s stunning announcement came less than two months after he fired prime time anchor Chris Cuomo for improperly advising his brother,

By Paul R. La Monica, CNN Business Big Wall Street firms enjoyed a stellar 2021 thanks to a booming stock market and a frenzy of mergers and initial public offerings. Bankers and CEOs are reaping the rewards. Goldman Sachs announced in its fourth quarter earnings report last month that it set aside $17.7 billion for

By Charles Riley, CNN Business Here’s one big reason oil prices are near a seven-year high: OPEC and Russia are producing less than they promised. The Organization of the Petroleum Exporting Countries and 10 other major crude oil producers, including Russia, have been gradually increasing their output after taking 9.7 million barrels per day out

By Julia Horowitz, CNN Business Not everyone has thousands of dollars on hand to purchase a single share of Google. Soon, investors won’t have to. What’s happening: Google parent Alphabet, the third largest public company in the United States, announced after markets closed on Tuesday that it will execute a 20-for-1 stock split in mid-July,

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. Whoopi Goldberg will start a two-week suspension Wednesday morning. ABC News president Kim Godwin announced the decision to discipline Goldberg on Tuesday night, one day after “The View” host had

By Matt Egan, CNN Business America’s national debt just hit another sobering milestone. Total public debt outstanding is now above $30 trillion, according to Treasury Department data published Tuesday. Government borrowing accelerated during the Covid-19 pandemic as Washington spent aggressively to cushion the economic blow from the crisis. The national debt has surged by about

By Peter Valdes-Dapena, CNN Business In a few years, cars going down a road in a historic section of Detroit will theoretically be able to charge their batteries as they drive. That’s the goal of an Israeli company that is finalizing an agreement with the state of Michigan’s Department of Transportation to build the roughly

By Allison Morrow, CNN Business If Joe Rogan wasn’t already a household name before last week, he almost certainly is now. His Spotify-based podcast’s Covid commentary created a backlash that led several musicians and customers to boycott the platform. So, who is Rogan? He’s someone who requires a lot of slashes: Comedian/commentator/podcast host/media personality. Rogan,

By Frank Pallotta, CNN Business Spotify wants to be the everything-for-everyone audio company. But it’s 2022, and that’s proving impossible. Neil Young and Joni Mitchell asked Spotify last week to pull their music from the platform because of Joe Rogan, who has made frequent false and inaccurate claims about Covid-19 and vaccines on his very

By Matt Egan, CNN Business Energy prices remain uncomfortably high, and OPEC and its allies are under pressure to come to the rescue. The good news for consumers grappling with elevated pump prices is that Goldman Sachs is warning clients that OPEC+ could announce during Wednesday’s virtual meeting it plans step up production. Noting that

By Jon Sarlin, CNN Business It’s like seeing double. The virtually rendered bright yellow Honda Civic Type R Limited Edition that AJ Vanover is racing in Forza Horizon 5 on his new Xbox Series X — which sits next to an equally fresh Nintendo Switch and PS5 — on his new 70″ TV looks almost

By Matt McFarland, CNN Business Tesla will recall all 53,822 vehicles with its “full self-driving” driver-assist feature after it was intentionally programmed to slowly roll through stop signs in some scenarios. The recall will impact Model S, X, 3 and Y vehicles that have its beta version of the “full self-driving” software enabled. “Full self-driving”

By Chris Isidore, CNN Business UPS just completed a record year. The current one will be even better. The delivery company earned $3.2 billion in the fourth quarter, excluding special items, up 36% from a year prior and topping the forecast of analysts surveyed by Refinitiv by about $500 million. UPS and rivals FedEx and

By Jeanne Sahadi, CNN Business Inflation is high and interest rates are expected to rise this year. So what does that mean if you’re investing in bonds? You’ve probably heard that when rates rise, bond prices fall. And if you already own bonds either directly or through a bond fund, this is not great news.

By Matt Egan, CNN Business Home Depot has a plan to combat the worker shortage: Speedy job offers. The world’s largest home improvement retailer said Tuesday that job applicants “could receive an offer within one day of applying.” Home Depot said the “accelerated” hiring process is part of its plan to hire more than 100,000

By Anneken Tappe, CNN Business Last year was a historic one for American jobs. A record number of workers quit their jobs while US employers had more positions to fill than ever before. In December, 4.3 million Americans quit their jobs, down slightly from the record 4.5 million in November, the Bureau of Labor Statistics

By Chris Isidore, CNN Business In 2021, ExxonMobil posted its largest profit in seven years, as soaring energy prices added more than $100 billion in revenue to the company’s top line. The nation’s largest oil company earned $23 billion for the year, compared to a loss of $1.4 billion, excluding special items, in 2020. The