Opinion by Mark Zandi for CNN Business Perspectives Painfully high inflation has become the nation’s number one economic problem, ignited by the pandemic, and set to get worse as Russia’s invasion of Ukraine sends gasoline prices higher. In his State of the Union address, President Biden proposed several steps to address the inflation problem, and
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By Jeanne Sahadi, CNN Business With Russia’s internationally condemned invasion of Ukraine, one thing is certain: No one knows exactly how things will play out. So far that disturbing uncertainty hasn’t sent markets into a sustained tailspin. US stocks took a hit the week of the invasion, but have since recovered some of those losses.
Continue Reading By Jeanne Sahadi, CNN Business With Russia’s internationally condemned invasion of Ukraine, one thing is certain: No one knows exactly how things will play out. So far that disturbing uncertainty hasn’t sent markets into a sustained tailspin. US stocks took a hit the week of the invasion, but have since recovered some of those losses.
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By Frank Pallotta, CNN Business Brandon Sanderson, the prolific fantasy author, broke the record for the most-funded Kickstarter recipient by bringing in more than $20.3 million on the platform since March 1. Sanderson created the Cosmere universe in which multiple stories like the “Mistborn” series take place. He originally sought $1 million in 30 days
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By Frank Pallotta, CNN Business “The Batman” opens this weekend and theaters are hoping this blockbuster film will help the industry nudge closer toward normalcy. The film stars Robert Pattinson as the Caped Crusader. It is projected to bring in roughly $100 million for its opening weekend in North America. That would be one of
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By Nathaniel Meyersohn, CNN Business The conditions described by the US Food and Drug Administration at a Family Dollar warehouse in West Memphis, Arkansas, were skin-crawling. “Live rodents, dead rodents in various states of decay, rodent feces and urine, evidence of gnawing, nesting and rodent odors throughout the facility, dead birds and bird droppings.” Foul
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By Oliver Darcy, CNN Business Russian President Vladimir Putin’s creeping authoritarianism got a lot more overt on Friday when he signed a censorship bill into law making it impossible for news organizations to accurately report the news in or from Russia. The law, according to the Committee to Protect Journalists, makes it a crime to
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By Frank Pallotta, CNN Business Disney+ is creating an ad-supported tier for its streaming service to ramp up its growing subscriber base. Though Disney shared that the new ads tier will join the subscription option in the United States sometime later this year, details are scant. The exact launch date and pricing will be “announced
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By Anna Cooban, CNN Business The number of independent media voices Russians can read and watch is dropping fast. Russian authorities have restricted access to news publications including BBC Russia, Radio Liberty and Latvia-based Meduza, RIA Novosti reported on Friday. The media outlets have been added to a list of publications “containing appeals for mass
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By Brian Fung, CNN Business Google has suspended all advertising in Russia, the company confirmed to CNN Friday. “In light of the extraordinary circumstances, we’re pausing Google ads in Russia,” the company said in a statement. “The situation is evolving quickly, and we will continue to share updates when appropriate.” The decision covers all Google’s
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By Abbas Al Lawati and Nadeen Ebrahim, CNN The Middle East found itself dragged into coverage of the conflict in Ukraine over the past week as journalists descended on the country to cover the biggest European war in decades. Western war reporters, more used to being deployed in Middle East conflict zones, were quick to
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By Chris Isidore, CNN Business US gas prices are surging at pace drivers haven’t seen since Hurricane Katrina in 2005. The national average price for a gallon of regular gas stood at $3.84 a gallon Friday, according to AAA. That is the highest price since September 2012 and 11 cents higher than Thursday. Gas prices
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By Anneken Tappe, CNN Business The US economy added 678,000 jobs in February, exceeding economists’ expectations. It was the best month for job growth since July. The nation has 2.1 million jobs to go before hitting the February 2020 level and recouping all positions lost in the pandemic, the Bureau of Labor Statistics reported Friday.
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By Clare Duffy and Brian Fung, CNN Business When Russia moved to “partially restrict” Facebook access in the country last week, drawing the social network deeper into an international conflict, it prompted a defiant response from the company’s most visible representative on the world stage. Not Mark Zuckerberg, but Nick Clegg. “Yesterday, Russian authorities ordered
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By Julia Horowitz, CNN Business Stocks around the world fell Friday following the news that Russian troops are occupying Ukraine’s largest nuclear power plant. But shares in Europe were battered particularly hard. What’s happening: Germany’s DAX index and France’s CAC 40 fell 3.8% in early trading, while the FTSE 100 in London dropped 3.5%. US
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By Charles Riley, CNN Business Russia’s second largest oil company has broken ranks with President Vladimir Putin. Lukoil, which produces more than 2% of the world’s crude oil and employs over 100,000 people, has called for an end to Russia’s war in Ukraine. The company’s board of directors said in a statement to shareholders, staff
Continue Reading By Anneken Tappe, CNN Business The US economy added 678,000 jobs in February, exceeding economists’ expectations. It was the best month for job growth since July. The nation has 2.1 million jobs to go before hitting the February 2020 level and recouping all positions lost in the pandemic, the Bureau of Labor Statistics reported Friday.
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By Danielle Wiener-Bronner, CNN Business As Russia’s assault on Ukraine continues, American bar and restaurant owners are hoping a small word change will help show their solidarity with the Ukrainian people. In a move reminiscent of the “freedom fries” fad of the early aughts, they’re taking Moscow Mules off the menu and replacing them with
Continue Reading By Danielle Wiener-Bronner, CNN Business As Russia’s assault on Ukraine continues, American bar and restaurant owners are hoping a small word change will help show their solidarity with the Ukrainian people. In a move reminiscent of the “freedom fries” fad of the early aughts, they’re taking Moscow Mules off the menu and replacing them with
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By Allison Morrow, CNN Business If Russia’s oligarchs weren’t already shaking in their custom Italian-leather boots, they probably are now. In his first State of the Union address Tuesday night, President Joe Biden addressed Russian President Vladimir Putin’s cronies directly, telling them that the United States and its allies are coming to “seize your yachts,
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