By Danielle Wiener-Bronner, CNN Business Popeyes started the chicken sandwich wars in 2019 — and it’s adding a new entree to the battle. The $4.99 ​​Buffalo Ranch Chicken Sandwich is available for a limited time starting Tuesday, and it features classic ingredients with a twist: hand-battered crispy chicken on a brioche bun with pickles, but
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By Mark Thompson, CNN Business BP took a hit of more than $24 billion from ditching its business in Russia but reported a huge jump in profit for the first quarter. The UK-based energy giant said Tuesday that its underlying profit soared to $6.2 billion from $2.6 billion in the same period last year, boosted
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By Paul R. La Monica, CNN Business Investors are very nervous about what’s next for America’s economy, with market fear gauges spiking. But there are still some bright spots for investors seeking companies that may still report healthy earnings even in a further-weakened economy. The market is grappling with a lot: interest rate hikes to
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By Mark Thompson, CNN Business The European Union is proposing to ban all oil imports from Russia by the end of this year and remove the country’s biggest bank, Sberbank, from the SWIFT international payments network. But the plan immediately ran into opposition from EU countries seeking a longer transitional period, including Hungary, which has
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By Mark Thompson, CNN Business Germany is ready to support a European ban on imports of Russian oil, and won’t be “blackmailed” by Moscow into paying for natural gas in rubles. Speaking to CNN’s Julia Chatterley on Monday, finance minister Christian Lindner said Germany would agree any new sanctions on Russia with its partners in
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By Paul R. La Monica, CNN Business Bad news for anyone trying to buy a house or refinance an existing loan: The yield on the benchmark 10-year US Treasury note, which influences how much consumers pay for mortgages and a variety of other loans, briefly topped the 3% level Monday for the first time since
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By Paul R. La Monica, CNN Business The S&P 500 fell more than 13% between January and April of this year. That’s the worst four-month start to a year since 1939, when longtime legendary investor Warren Buffett was just nine years-old. Comparing today’s stock market to 83 years ago isn’t an entirely apples-to-Apple comparison —
Continue Reading By Mark Thompson, CNN Business Germany is ready to support a European ban on imports of Russian oil, and won’t be “blackmailed” by Moscow into paying for natural gas in rubles. Speaking to CNN’s Julia Chatterley on Monday, finance minister Christian Lindner said Germany would agree any new sanctions on Russia with its partners in
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Opinion by Desmond Lachman for CNN Business Perspectives Economist Milton Friedman famously taught us that monetary policy operates with long and variable lags. By this he meant that it takes time for the Federal Reserve’s actions to affect the economy, in much the same way as it takes time for a room’s temperature to adjust
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By Laura He, CNN Business Chinese social media have shut down the accounts of a prominent market analyst who drew attention in recent weeks to the dramatic slowdown in the country’s economy and the effects of government policy on the tech industry. Over the weekend, Tencent’s WeChat froze the public account of Hong Hao, managing
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By Chris Isidore, CNN Business Spirit Airlines said it will stick with its deal with Frontier Airlines, rejecting a more lucrative competing offer from JetBlue Airways. The airline said it doesn’t believe regulators would allow JetBlue to buy Spirit. “We believe a combination of JetBlue and Spirit has a low probability of receiving antitrust clearance
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By Nadeen Ebrahim, CNN When Russia’s invasion of Ukraine triggered an international food crisis, some Middle Eastern importers were hit particularly hard. An economically shattered Lebanon is fighting to avert a bread crisis, war-torn Yemen is already grappling with “alarming heights” of food insecurity, and Egypt, which last year imported 80% of its wheat from
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By Julia Horowitz, CNN Business As the economy began bouncing back from the coronavirus pandemic, interest in investment products that promoted good environmental, social and governance practices took off. But as markets have come under pressure this year, so-called “ESG” funds have started to struggle. What’s happening: Funds that prioritize responsible investments and ESG issues
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By Matt Egan, CNN Business The United States is rapidly approaching a major jobs milestone that highlights the historically strong economic recovery from Covid-19. By the end of August, the labor market will have fully recaptured all jobs lost during the pandemic, Fitch Ratings projects in a new report shared first with CNN. If that
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By Ramishah Maruf, CNN Reporting can be a risky profession, and in many parts of the world, it is becoming more dangerous than ever. This year to date, at least 17 journalists have been killed — and the real number is probably higher, CNN’s chief media correspondent Brian Stelter said on “Reliable Sources” Sunday. The
Continue Reading By Ramishah Maruf, CNN Reporting can be a risky profession, and in many parts of the world, it is becoming more dangerous than ever. This year to date, at least 17 journalists have been killed — and the real number is probably higher, CNN’s chief media correspondent Brian Stelter said on “Reliable Sources” Sunday. The
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By Parija Kavilanz, CNN Business Prices are going up for everything from food and cars to gas and clothes. Now, families can add summer camps to that growing list. Some 26 million children nationwide are expected to be enrolled in camps this year after schools wind down in just a few weeks. “Demand is extremely
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By Paul R. La Monica, CNN Business Warren Buffett’s Berkshire Hathaway has beaten the broader market so far this year. But the Oracle of Omaha wasn’t willing to declare himself an investing genius during Saturday’s annual shareholder meeting. Buffett simply said that the Berkshire Hathaway strategy is all about making rational decisions and investing for
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Opinion by Bill Carter for CNN Business Perspectives Every time a host leaves an established late-night show, the guessing game begins: Who will be the successor to Johnny Carson or David Letterman? Or, in this most recent case, James Corden at CBS? Corden announced Thursday that he will leave “The Late Late Show” next year.
Continue Reading Opinion by Bill Carter for CNN Business Perspectives Every time a host leaves an established late-night show, the guessing game begins: Who will be the successor to Johnny Carson or David Letterman? Or, in this most recent case, James Corden at CBS? Corden announced Thursday that he will leave “The Late Late Show” next year.
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