Another key inflation indicator flashed a warning sign in May: Producer prices jumped a record amount last month. The economy is reopening fully and soaring demand, together with supply chain issues and materials shortages, is pushing prices higher. That trend, which has been taking place all year, continued in May. Between May 2020 and May…… MORE
Best Buy wants to sell you a new outdoor grill for summer cookouts, a backpack for a return to the office, and luggage for future vacations as it extends its product options beyond electronics. The chain announced Tuesday that it will sell grills, outdoor firepits and patio sets from brands such as Weber and Traeger…… MORE
US retail sales fell 1.3% in May as the sector continues to come down from the stimulus-fueled high of recent months. The last round of stimulus checks from the American Rescue Plan approved by Congress in March boosted consumer spending in the early spring months. But the sugar rush has worn off. Sales numbers for…… MORE
Special-purpose acquisition companies, or SPACs, were one of the stock market’s hottest trends in early 2021, drawing in billionaires, celebrities and athletes. Then, in early spring, enthusiasm began to wane, as “blank check” firms — which raise money from investors and then go hunting for takeover targets — started to receive greater scrutiny from lawmakers…… MORE
The United States and the European Union have resolved a long-running trade dispute over subsidies to Airbus and Boeing, a move that could improve transatlantic relations as both sides seek to counter China’s rising economic influence. US officials confirmed on Tuesday they struck a truce to end the dispute over government subsidies for the world’s…… MORE
A once-in-century pandemic. Political polarization. The fight for social justice. An existential climate crisis. The modern CEO faces a minefield of vexing challenges every day. “We’re only at the tip of the iceberg,” Tim Ryan, US chairman of PricewaterhouseCoopers, told CNN Business. That’s why PwC, the 160-year-old accounting and consulting giant, is embarking on a…… MORE
The Ever Given is no longer blocking the Suez Canal, but the crisis is far from over for companies forced to endure a protracted legal battle in hopes of recovering goods worth hundreds of millions of dollars that have been stuck on the impounded container ship for months. IKEA and Lenovo are among the companies…… MORE
American citizen Nathan Maung, who has been detained in Myanmar since March 9, was released and deported to the United States on Tuesday after charges against him were dropped, his lawyer said. Nathan Maung is co-founder and editor-in-chief of the Myanmar online news site Kamayut Media and had spent more than two months incarcerated in…… MORE
Australia and the United Kingdom announced a free trade agreement Tuesday as Britain begins to forge new economic relationships following its departure from the European Union. The main elements of the deal were agreed by UK Prime Minister Boris Johnson and Australian Prime Minister Scott Morrison at a meeting in Downing Street on Monday night.…… MORE
Stephen Colbert has come a long way since doing a monologue in a bathtub. The host welcomed back a full house to the Ed Sullivan Theater, home of CBS’ “The Late Show,” on Monday. It was the first time in 15 months that Colbert presented the show in front of a live audience. CNN Business…… MORE
