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Category Archives: CNN – Business

America just had its best month for new home construction in 13 years

America just had its best month for new home construction in 13 years

Americans are in the market to buy houses again. New home construction rose nearly 17% in December, soaring to a level not seen since before the financial crisis. The US housing market continues to recover, helped by a healthy American economy, a tight labor market with modestly rising wages, low inflation and low mortgage rates.…MORE

Tesla allegedly has an unintended acceleration problem

Tesla allegedly has an unintended acceleration problem

More than 100 Teslas have been involved in accidents because they accelerated unintentionally, according to a complaint filed with federal safety regulators. The complaint, filed on December 19 but posted Friday, says the problem happened to 127 different cars across all three Tesla models currently for sale: the Model S, Model X and the Model…MORE

The world’s biggest food company is now making vegan sausages

The world’s biggest food company is now making vegan sausages

NestlĂ© is adding vegan sausages to its lineup of imitation meat products, as the world’s largest food company moves to secure its position in the booming market for plant-based foods. The Swiss company said Friday that it will sell soy-based bratwurst and chorizo-style sausages in 11 European markets under its Garden Gourmet brand starting in…MORE

She’s pushing the world’s largest hotel chain to be more like Airbnb

She’s pushing the world’s largest hotel chain to be more like Airbnb

Not long ago, traveling to another city generally meant selecting a hotel to spend the night. But then Airbnb made it fashionable to stay in people’s luxury villas, city-center condos, rustic cabins and any number of unique accommodations around the world. The concept of home rentals isn’t new; Vacation Rentals By Owner, or VRBO for…MORE

The club of $1 trillion companies just keeps growing. Now there are four

The club of $1 trillion companies just keeps growing. Now there are four

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. Apple. Microsoft. Saudi Aramco. And now Alphabet. The club of public companies worth $1 trillion added a new member this week, with Google’s parent company topping that valuation on Thursday. It’s the…MORE

China just reported its weakest annual growth in 29 years

China just reported its weakest annual growth in 29 years

China’s economy grew at its slowest pace in nearly three decades in 2019. That wasn’t unexpected, and Chinese officials insisted that the country’s economy will be stable this year. But it might be too early to say the worst has passed, according to analysts. The 6.1% GDP growth rate for 2019 was in line with…MORE

Trump administration says no more computers in economic data lockups

Trump administration says no more computers in economic data lockups

Economic journalists will no longer be able to bring their electronic devices –including their laptops — when they arrive early at the Labor Department to write stories on the country’s employment and other data. Instead, they’ll be returning to a pre-Internet practice of relying on good old pens and pads to write their stories on…MORE

Google owner Alphabet is now worth $1 trillion

Google owner Alphabet is now worth $1 trillion

The exclusive $1 trillion club on Wall Street just got a new member. Shares of Google parent company Alphabet hit a new all-time high Thursday, pushing the company’s market value to $1 trillion in the process. Alphabet joins Apple and Microsoft as companies worth at least $1 trillion. Apple is the most valuable company in…MORE

Gap won’t spin off its Old Navy brand

Gap won’t spin off its Old Navy brand

Gap ended plans to spin off its Old Navy brand Thursday, reversing a strategy announced less than a year ago. The plan was unveiled last year as a way to give Old Navy, Gap’s faster-growing budget brand, space to maneuver as its own company. At the same time, the plan would have allowed Gap to…MORE