CNN – Business/Consumer

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

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

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.

By Matt Egan, CNN Business Covid-19 drove global supply chains to the breaking point, causing shortages and sending prices skyrocketing. Just as the pandemic has calmed down, Russia’s invasion of Ukraine threatens to further scramble those fragile supply chains. Russia is a major producer of commodities, everything from oil and natural gas to palladium and

By Michelle Toh, CNN Business Two of Japan’s biggest names in business are teaming up. Sony and Honda announced Friday that they plan to start a joint venture to make and sell electric vehicles. The company will be established later this year, and deliveries will begin by 2025. Details of the agreements are still being

By Michelle Toh, CNN Business Grab, the Southeast Asian startup known for its “super app,” had a terrible Thursday. The ride-hailing giant’s stock plummeted as much as 37% in New York after reporting disappointing earnings. It posted revenue of $122 million for the fourth quarter, down 44% from the previous year as the firm said

By Casey Tolan, Curt Devine and Daniel A. Medina, CNN The ships span the length of a football field or longer, come outfitted with helipads and swimming pools, and have shown up at ports around the world — towering over nearby fishing vessels and motorboats like giants. Yachts owned by Russian oligarchs — who have

Opinion by Elise Gould and Heidi Shierholz for CNN Business Perspectives When the coronavirus pandemic shut down businesses across the US in spring 2020, the labor market lost 22 million jobs in just two months — more than twice as many jobs lost during the entire Great Recession and financial crisis of 2008-2009. Given that

By Oliver Darcy, CNN Business RT America will cease productions and lay off most of its staff, according to a memo CNN obtained from T&R Productions, the production company behind the Russian state-funded network. Misha Solodovnikov, the general manager of T&R Productions, told staff in the memo that it will be “ceasing production” at all

By Matt McFarland, CNN Business Rivian is rolling back price hikes on preordered vehicles following backlash from its customers. Rivian CEO RJ Scaringe apologized to customers in a letter published Thursday. “I have made a lot of mistakes since starting Rivian more than 12 years ago, but this one has been the most painful. I am

By Lauren del Valle, CNN Business Purdue Pharma and the Sackler families reached a settlement with a group of states this week that would require the Sacklers to pay out as much as $6 billion to states, individual claimants and opioid crisis abatement, if approved by a federal bankruptcy court judge. The new agreement, reached

By Nathaniel Meyersohn, CNN Business Best Buy built a retail empire selling TVs and laptops. But to keep growing and fend off rivals like Amazon and Walmart, the company needs new ways to attract customers. Best Buy outlined plans Thursday to expand its footprint into health, fitness, personal electric transportation, outdoor products and other potentially

By Jordan Valinsky, CNN Business Ben & Jerry’s decision to stop manufacturing ice cream in Israel sparked a lawsuit from its Israeli distributor. American Quality Products (AQP), which distributes Ben & Jerry’s in Israel, said Thursday that it’s suing the ice cream and its parent company Unilever for “unlawfully terminating its 34-year business relationship in