By Paul R. La Monica, CNN Business investors who have been blindly buying all big techs got a rude awakening this week after Netflix imploded. But the good news from Tesla proves that some top momentum stocks can still thrive in this rocky market. The latest results from Tesla and Netflix show how silly it
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By Julia Horowitz, CNN Business How should policymakers react when two core parts of the economy are headed in different directions? That’s the question facing the Federal Reserve and its international counterparts as they race to contain surging inflation. On one hand, spending on services like flights is booming as people in the United States
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By Frank Pallotta, CNN Business Netflix shares plunged this week after the platform reported its first subscriber loss in more than a decade. One factor the company pointed to as hurting revenue: widespread password sharing. Does this mean the streamer is about to kick millions of viewers off shared accounts? Not quite. But it could
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By Clare Sebastian, CNN Russian President Vladimir Putin has devoted considerable airtime over the past few weeks to reassuring the Russian public that sanctions hurt the West more than they hurt Russia. Putin is preparing his country for the long haul. “The collective West does not plan on backing off its policy of economic pressure
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. When WarnerMedia and Discovery merged earlier this month, the incoming management team faced an immediate question: What to do with CNN+. So at 8 a.m. on April 11, the first
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By Alicia Wallace, CNN Business Daily life continues to get more expensive as American households battle the worst inflation in 40 years. From meat to gas to clothing and housing, the average family now has to fork over hundreds more dollars each month compared to this time last year. Food prices alone are up almost
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By Anna Bahney, CNN Business Mortgage rates continued to rise this week, reaching their highest level in more than a decade. The 30-year fixed-rate mortgage averaged 5.11% in the week ending April 21, up from 5% the week before, according to Freddie Mac. It is the seventh consecutive week of increases and is significantly higher
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By Anneken Tappe, CNN Business A half-percentage point interest rate hike is officially on the table, Federal Reserve Chairman Jerome Powell said Thursday, as the central bank prepares to get inflation under control. “50 basis points will be on the table for the May meeting,” Powell said during a panel at the International Monetary Fund
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By Danielle Wiener-Bronner, CNN Business In a scathing open letter to McDonald’s shareholders, legendary investor Carl Icahn said the company’s leadership was “failing” its investors and misleading the public about its animal welfare practices. “McDonald’s’ Board of Directors … is failing shareholders and stakeholders by presiding over animal welfare violations, supply chain lapses and what
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By Oliver Darcy and Brian Stelter, CNN Business CNN+, the streaming service that was hyped as one of the most significant developments in the history of CNN, will shut down on April 30, just one month after it launched. CNN+ customers “will receive prorated refunds of subscription fees,” the company said. The decision was made
Continue Reading By Anna Bahney, CNN Business Mortgage rates continued to rise this week, reaching their highest level in more than a decade. The 30-year fixed-rate mortgage averaged 5.11% in the week ending April 21, up from 5% the week before, according to Freddie Mac. It is the seventh consecutive week of increases and is significantly higher
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Opinion by Jessica J. González for CNN Business Perspectives When Elon Musk offered to buy Twitter and take it private last week, he wrote that he believed the company needed to be “transformed.” The next day, Musk took to the stage at a TED conference where he criticized the company for what he sees as
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By Mark Thompson and Chris Liakos, CNN Business One of Russia’s richest men has quit as CEO of Lukoil, the country’s second-largest oil company. In a brief statement Thursday, Lukoil said Vagit Alekperov informed the company “about his decision to resign” as a director and president of the company. The company did not disclose the
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By Faith Karimi, CNN Scoot over, Facebook and Instagram. There’s a newer photo-sharing app — and it’s not like other social media platforms. The app is called BeReal. And while you may not have heard of it, a lot of young people are signing up. Its active monthly users have skyrocketed this year by more
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By Chris Isidore, CNN Business After two years of massive losses, US airlines are about to start reporting profits once again. Both American and United reported first-quarter losses but expect to book record revenue in the current period, just two years removed from a near halt in air travel caused by the Covid-19 pandemic. American
Continue Reading By Chris Isidore, CNN Business After two years of massive losses, US airlines are about to start reporting profits once again. Both American and United reported first-quarter losses but expect to book record revenue in the current period, just two years removed from a near halt in air travel caused by the Covid-19 pandemic. American
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By Julia Horowitz, CNN Business Investors have quickly turned on companies like Netflix that were growing fast during the recovery from the pandemic but are now sputtering. Yet Tesla, which skeptics have long said is overvalued based on rosy projections for the future, is experiencing a much softer landing. What’s happening: Tesla shares have dropped
Continue Reading By Julia Horowitz, CNN Business Investors have quickly turned on companies like Netflix that were growing fast during the recovery from the pandemic but are now sputtering. Yet Tesla, which skeptics have long said is overvalued based on rosy projections for the future, is experiencing a much softer landing. What’s happening: Tesla shares have dropped
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By Anna Cooban, CNN Business Nestlé, the world’s biggest food and drinks company, raised prices by more than 5% in the first three months of this year as it passed on rising costs to shoppers. Consumers in North America took the hardest hit, with an 8.5% rise in prices, the company said in its first-quarter
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By Paul R. La Monica, CNN Business Last month, the Federal Reserve raised interest rates for the first time since December 2018. Now there are growing expectations that the central bank is about to dramatically step up the size and pace of its rate hikes in order to put a brake on surging consumer prices.
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