By Anneken Tappe, CNN Business America’s jobs recovery didn’t lose steam in the new year with a key measure of jobless claims dropping to its lowest level since March 1970, the Labor Department reported Thursday. Continuing claims for unemployment benefits, which count people who have filed for jobless aid for at least two weeks in
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By Laura He, CNN Business Global stocks plunged after President Vladimir Putin launched an invasion of Ukraine, drawing condemnation from the West and making punishing sanctions all but certain. European stocks tumbled on Thursday. The FTSE 100 fell 3.9% in London, while France’s CAC 40 dropped 3.8% and Germany’s DAX 30 shed 4%. Russian stocks
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By Anneken Tappe, CNN Business The economic recovery was stronger than initially thought in the fourth quarter of last year, new data from the Commerce Department showed Thursday. But for many Americans it didn’t feel that way. US gross domestic product — the broadest measure of economic activity — grew at an annualized pace of
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By Julia Horowitz, CNN Business Russian President Vladimir Putin’s decision to invade Ukraine, which could spark the biggest war in Europe since 1945, has immediately stoked alarm among investors, who had been hoping such an outcome would be avoided. What’s happening: News early Thursday that Russian forces had begun an attack on Ukraine, with reports
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By Matt Egan, CNN Business Citigroup is saying goodbye to overdraft fees, making it the biggest US bank to pledge to eliminate the controversial charges. By this summer, Citi plans to get rid of overdraft fees, non-sufficient funds fees and overdraft protection fees, the bank exclusively told CNN on Thursday. The changes mean Citi will
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By Jordan Valinsky, CNN Business A number of companies have suspended production or limited manufacturing output in Ukraine because of the Russian invasion early Thursday. Companies that made those announcements include Carlsberg, a Coca-Cola bottling company, snack maker Mondelez and steel manufacturer ArcelorMittal. They join a number of airlines that have already suspended operations to
Continue Reading By Jordan Valinsky, CNN Business A number of companies have suspended production or limited manufacturing output in Ukraine because of the Russian invasion early Thursday. Companies that made those announcements include Carlsberg, a Coca-Cola bottling company, snack maker Mondelez and steel manufacturer ArcelorMittal. They join a number of airlines that have already suspended operations to
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By Kathryn Vasel When it comes to hiring, companies are moving fast. With millions of open jobs and not enough workers to fill them, employers are struggling to attract and retain employees. At the end of 2021, there were 10.9 million job openings, according to the most recent data from the Labor Department. One way
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By Mark Thompson and Chris Liakos, CNN Business Russian stocks crashed by more than 40% and the ruble hit a record low against the dollar on Thursday. The Moscow market rout was triggered by news that Russian troops had launched an attack on Ukraine, a move that is likely to trigger a new wave of
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By Mark Thompson and Chris Liakos, CNN Business Russian stocks crashed and the ruble hit a record low against the dollar on Thursday after Russian troops launched an attack on Ukraine. The invasion is likely to trigger a new wave of “full scale” sanctions aimed at President Vladimir Putin’s inner circle and Russia’s oil-dependent economy.
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By Rob McLean and Michelle Toh, CNN Business The price of bitcoin fell below $35,000 early Thursday after Russian President Vladimir Putin announced a military operation in the Donbas region of Ukraine. Bitcoin was trading at $34,969 as of 1:22 a.m. ET, according to CoinMarketCap. That’s a decline of more than 8% compared to a
Continue Reading By Rob McLean, CNN Business The price of bitcoin fell below $35,000 early Thursday after Russian President Vladimir Putin announced a military operation in the Donbas region of Ukraine. Bitcoin was trading at $34,750.15 as of 12:59a ET, according to CoinMarketCap. That’s a decline of more than 8% compared to a day earlier. The world’s
Continue Reading By Laura He, CNN Business Global stocks plunged after President Vladimir Putin launched a military attack on Ukraine, drawing condemnation from the West and making punishing sanctions all but certain. European stocks tumbled in the opening minutes of trading on Thursday. The FTSE 100 fell 2.5% in London, while France’s CAC 40 dropped 4% and
Continue Reading By Laura He, CNN Business Global stocks plunged after President Vladimir Putin launched an invasion of Ukraine, drawing condemnation from the West and making punishing sanctions all but certain. European stocks tumbled on Thursday. The FTSE 100 fell 3.9% in London, while France’s CAC 40 dropped 3.8% and Germany’s DAX 30 shed 4%. Russian stocks
Continue Reading By Laura He, CNN Business Asian markets and US stock futures plunged on Thursday as Russian President Vladimir Putin announced a military operation in the Donbas region of Ukraine. Hong Kong’s Hang Seng Index declined 3.2%. Korea’s Kospi dropped 2.7%. Japan’s Nikkei 225 lost 2.4% after coming back from a holiday. China’s Shanghai Composite moved
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By Matt Egan and Charles Riley, CNN Business Oil prices surged above $100 per barrel after Russia launched an invasion of Ukraine, piling pressure on a global economy already reeling from rampant inflation. Brent crude, the global benchmark, added 8.5% to trade at $105.40 per barrel by 5:30 a.m. ET on Thursday. Brent last traded
Continue Reading By Matt Egan and Charles Riley, CNN Business Oil prices surged above $100 per barrel after Russia launched an invasion of Ukraine, piling pressure on a global economy already reeling from rampant inflation. Brent crude, the global benchmark, added 8.5% to trade at $105.40 per barrel by 5:30 a.m. ET on Thursday. Brent last traded
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By Anna Cooban, CNN Business Air France and Lufthansa are the latest airlines to suspend flights into Ukraine as fears of a Russian invasion grow. The French carrier said that it would cancel flights to and from the capital Kyiv on Tuesday as a “precautionary measure,” citing the security situation. “Air France will regularly reassess
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By Paul R. La Monica, CNN Business Wall Street’s attempt for a Wednesday rally failed, with stocks closing broadly lower on continued worries about the likelihood of an imminent invasion of Ukraine by Russia. The Dow closed down more than 464 points, or 1.4%, after opening the session higher. It was a broad-based slide, with
Continue Reading By Paul R. La Monica, CNN Business Wall Street’s attempt for a Wednesday rally failed, with stocks closing broadly lower on continued worries about the likelihood of an imminent invasion of Ukraine by Russia. The Dow closed down more than 464 points, or 1.4%, after opening the session higher. It was a broad-based slide, with
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