By Clare Sebastian, CNN Russia’s currency hit an eight-month low Thursday, adding to sharp declines in December as global oil prices fell, and Western sanctions targeted Russia’s energy sector. The ruble hovered below 72 to the dollar, down 18% from the start of the month, and its weakest level since late April. After almost halving
Continue Reading By Andy Rose, CNN The U.S. Virgin Islands government filed a lawsuit Tuesday against JPMorgan Chase, alleging that the Wall Street bank benefited financially from Jeffrey Epstein’s sex trafficking operation and failed in its duty to report suspicious financial activity. “Over more than a decade, JPMorgan clearly knew it was not complying with federal regulations
Continue Reading By Nicole Goodkind, CNN Business This hasn’t been a good year for the equities market. The S&P 500 is down nearly 20% and with two trading days left in the year, investors’ hopes of a miraculous recovery have been dashed. But even when the overall market is losing, there are still winners — and there
Continue Reading by Diksha Madhok Users around the world struggled to access Twitter on Wednesday—even as an error message urged “don’t fret… Let’s try again.” As intermittent outages spread, the hashtag #TwitterDown began to trend globally. “User reports indicate Twitter is having problems since 7:13 pm EST,” according to outage detection site Downdetector, where many of the
Continue Reading By Danielle Wiener-Bronner, CNN Starbucks is making changes to its rewards program, requiring members to spend more to earn some popular freebies. Starting February 13, members will need 100 stars — Starbucks’ term for points — to get one cup of hot or iced coffee or tea, a baked good, a packaged snack or a
Continue Reading By Alicia Wallace, CNN For a year that held promise of a return to normalcy, 2022 threw plenty of curve balls at the American consumer. Supply chains remained in disarray as ongoing snarls were drastically worsened by lockdowns in China and Russia’s invasion of Ukraine, average US gas prices shot north of $5 per gallon
Continue Reading By Chris Isidore, CNN Business The cost of the service meltdown at Southwest Airlines over the year-end holidays cost the airline nearly $1 billion and will cause the company to report a loss rather than a profit in the fourth quarter, the airline said in a filing on Friday. The airline, the nation’s largest domestic
Continue Reading By Peter Valdes-Dapena, CNN Business As the new year begins, a number of popular electric vehicles, specifically some Tesla and General Motors models, could be eligible for $7,500 worth of tax credits they weren’t eligible for in 2022. But that eligibility may last only last a few months. That’s because limitations on new tax credits
Continue Reading By Allison Morrow, CNN When Sam Bankman-Fried bought a nearly 7.6% stake in Robinhood, the popular stock-trading app, earlier this year, he financed the deal with more than half a billion dollars borrowed from his own hedge fund — the entity that prosecutors say was illegally funneling customer funds from its affiliated platform, FTX. In
Continue Reading By Jennifer Korn, CNN Many Southwest customers have been desperately trying something — anything — that will get them back home. But some passengers have been horrified to find other airlines posting last-minute flights to their destinations that can cost thousands of dollars. United and American Airlines say they have a solution: The airlines will
Continue Reading By Jennifer Korn, CNN Many Southwest customers have been desperately trying something — anything — that will get them back home. But some passengers have been horrified to find other airlines posting last-minute flights to their destinations that can cost thousands of dollars. United and American Airlines say they have a solution: The airlines will
Continue Reading By Brian Fung, CNN TikTok has been banned from electronic devices managed by the US House of Representatives, according to an internal notice sent to House staff. Users who install the short-form video app on any House mobile device will be asked to remove the software, according to the notice, which was provided to CNN
Continue Reading By Danielle Wiener-Bronner, CNN In the pantheon of sodas, Dr Pepper is the odd one out: It doesn’t have the popularity or sales of Coca-Cola or Pepsi, you can’t use it in a standard cocktail, and it doesn’t fall neatly into a category like cola or root beer. For decades, the peppery soda has marketed
Continue Reading By Nicole Goodkind, CNN December is a month full of market predictions for the year to come. Everyone, from economists to analysts to grocers, seems to have a strong feeling about how stocks will behave going forward. Here’s the thing: They’re almost always wrong. What’s happening: Last year, Goldman Sachs analysts predicted that the S&P
Continue Reading By Tara Mulholland, CNN Kabosu, the internet-famous dog who inspired the “doge” meme and influenced digital culture for a decade, is seriously ill with leukemia and liver disease. The 17-year-old shiba inu stopped “eating and drinking voluntarily” on Christmas Eve, and has been diagnosed with acute cholangiohepatitis and chronic lymphoma leukemia, according to a series
Continue Reading By Peter Valdes-Dapena, CNN Business Next time you’re circling a full parking lot, try to remember what you saw in it just a couple of years ago. Things are different, now. There are a lot more electric vehicles and they aren’t just Teslas anymore, either. “It’s not your eyes tricking you,” said Matt Degen, an
Continue Reading By Uliana Pavlova, CNN Russian President Vladimir Putin signed a decree on Tuesday banning oil supplies to countries that have introduced price caps on Russian oil and petroleum products, according to the decree published on the Kremlin’s website — a move that may prove to be largely symbolic. Earlier this month, Western countries implemented a
Continue Reading By Nathaniel Meyersohn, CNN Planning on returning that ugly Christmas sweater? It could cost you to return it online. Shoppers have become accustomed to free shipping and free returns in recent years, but Zara, H&M, J.Crew, Anthropologie, Abercrombie & Fitch and other chains are now slapping on fees of up to $7 to return items
Continue Reading By Anna Chernova, Swati Gupta and Ivana Kottasová, CNN Russian sausage magnate-turned-lawmaker Pavel Antov died in India on Saturday after falling from the third floor of his hotel, according to the Indian police. Antov’s death came after his friend and travel companion Vladimir Budanov died of a heart attack on Antov’s 65th birthday, two days
Continue Reading By Danielle Wiener-Bronner, CNN Several grocery items have gotten more expensive this year. But nothing comes close to the rise in egg prices. In the year through November, not adjusted for seasonal swings, egg prices jumped 49%, according to data from the Bureau of Labor Statistics. Since early this year, a deadly avian flu has
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