Money

By Paul R. La Monica, CNN Business It may not be the “elephant-sized” deal that Warren Buffett has long promised, but Berkshire Hathaway is making its biggest acquisition in years: it’s buying insurer Alleghany for $11.6 billion in cash. Buffett, the “Oracle of Omaha,” has been saying for years that he wants to make a

By Jordan Valinsky, CNN Business Taco Bell turns 60 this summer and its employees will have new outfits to mark the occasion. Employees will be given a new T-shirt that’s designed by Los Angeles-based streetwear creator Born X Raised that celebrates the chain’s Southern Californian heritage. The shirt, meant to “commemorate this milestone in the

By Mark Thompson and James Frater, CNN Business Europe will consider joining a US-led embargo of Russian oil this week as the West looks for new ways to punish President Vladimir Putin for waging his devastating war in Ukraine. EU leaders will discuss whether to dump by far the biggest supplier of oil to the

By Matt Egan, CNN Business The White House considered sending gas cards to families to cushion the blow from record-high gas prices before eventually deciding it is not feasible. A White House spokesperson told CNN that gas cards are not seriously under consideration, confirming a report in Axios. The Biden administration is worried that gas

By Michelle Toh and Jojo Chan, CNN Business Hong Kong announced Monday that it would lift flight bans and shorten quarantine requirements after two years of tough Covid restrictions that have hurt the city’s economy and standing among global business. In a press conference Monday, Chief Executive Carrie Lam said that residents of nine countries,

Opinion by Yamini Aiyar for CNN Business Perspectives My children last entered their school gates on March 10, 2020, weeks before India’s national lockdown was announced. Two years on, schools in much of the country remain closed. Some states went against the tide and reopened in 2021 — but only partially, limiting attendance to higher

By Jordan Valinsky, CNN Business Some types of Jergens moisturizer have been recalled because of possible bacterial contamination. The Food and Drug Administration announced that Jergen’s manufacturer, Kao USA, wants customers to check if they have 3-ounce or 10-ounce products of Jergens Ultra Healing Moisturizer, because they could contain pluralibacter gergoviae. Although the bacterium typically

By Charles Riley, CNN Business Russia’s war in Ukraine is reshaping global energy markets. The scale and long-term impact of the changes are still up for debate. The International Energy Agency warned last week that the world could be hit with the biggest supply crisis in decades if Moscow curtails its oil output as companies

By Ramishah Maruf, CNN As Russia’s attack on Ukraine continues to intensify, reporting from the war zone is becoming increasingly difficult — and dangerous. Four journalists have so far been killed reporting on the war and many more are injured or missing. Ukrainian journalist Victoria Roshchyna has been missing for more than a week, and

By Ramishah Maruf, CNN Disney said it regrets a performance at its Orlando theme park by a high school cheerleading squad after it received backlash for the routine’s depictions of Native Americans. A widely circulated video of the Port Neches-Groves High School “Indianettes” from Texas shows the team dancing and chanting “scalp ’em Indians, scalp

By Ramishah Maruf, CNN Business As inflation and Russia’s war on Ukraine force consumers to pay more at the pump, some states are temporarily suspending their gas tax — and others may follow. Lawmakers in California, which has the highest gas tax in the country at 51-cents-per-gallon, are proposing a $400 gas tax rebate, after

As told to Chris Wellisz, International Monetary Fund In his latest book, “The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance,” Cornell University professor Eswar S. Prasad describes how digital currencies and other financial technologies are reshaping everything from consumer banking to monetary policy and international payments. In a conversation with

By Ramishah Maruf and Tami Luhby, CNN Three of the country’s largest credit reporting agencies are removing nearly 70% of medical debt from consumer credit reports, the companies announced in a joint statement Friday. Starting July 1, Equifax, Experian and TransUnion will no longer include medical debt that went to collections on consumer credit reports

By Nathaniel Meyersohn, CNN Business In 2018, Kohl’s was a bright spot in the beleaguered department store sector. Sales were growing, Kohl’s stock price was booming and new CEO Michelle Gass was earning widespread praise for her creative approach, including partnering with Amazon to offer free Amazon returns at Kohl’s stores. Out of the three

By Paul R. La Monica, CNN Business March Madness isn’t just for college basketball fans. That phrase is also an apt description of the volatility on Wall Street, and this March is no different. Just look at what stocks have done so far this month. It began with worries about Russia’s invasion of Ukraine and