Money

By Matt Egan The Biden administration announced plans Friday to provide nearly 2 million barrels of oil to refineries through an emergency exchange and simultaneously begin efforts to replenish the Strategic Petroleum Reserve early next year. The new emergency exchange is aimed at addressing “potential supply disruptions” caused by the shutdown of the Keystone Pipeline

By Matt Egan The plunge in gasoline prices hit another milestone on Friday, with the national average sinking to the lowest level since September 2021. The sharp decline in pump prices is encouraging news for consumers after a year of high prices for groceries, rent and other essentials. A gallon of regular gas now sells

By Danielle Wiener-Bronner, CNN While a debate unfolds online about Starbucks‘ new credit and debit card tipping option, some workers are frustrated — and it has nothing to do with the etiquette of tipping. Union organizers who asked for this new feature months ago are being left out. It’s been about a year since the

By CNN Staff Egypt has dug itself a massive hole of debt. On Friday, the International Monetary Fund (IMF) will extend a $3 billion loan to the country, a fourth aid package in six years, as its financial tailspin continues. The loan, along with billions of dollars in cash inflows from Abu Dhabi and Riyadh,

By Oliver Darcy, CNN Elon Musk is no free speech warrior. The thin-skinned new Twitter owner on Thursday banned the accounts of several high-profile journalists from the nation’s top news organizations, including: CNN’s Donie O’Sullivan; The New York Times’ Ryan Mac; and The Washington Post’s Drew Harwell. Progressive journalist Aaron Rupar and pundit Keith Olbermann

By Chris Isidore, CNN Business About 100 Starbucks stores across America will be on strike for the next three days, as the union attempts to turn up the pressure in it year-long battle with the coffee retailer. This is the second widespread strike by Starbucks Workers United, which staged a one-day strike in November on

By Nicole Goodkind, CNN Weaker-than-expected retail sales in November pummeled market sentiment on Thursday and raised the odds that the Federal Reserve’s inflation-fighting interest rate hikes would push the economy into recession. What’s happening: US retail sales, which measure the total amount of money that stores make from selling goods to customers, fell 0.6% in

By Laura He and Cheng Cheng, CNN James Cameron’s “Avatar: The Way of Water” has premiered in China, 13 years after the original film took the country by storm. It’s expected to be a shot in the arm for the world’s second-biggest film market, which has been battered by the country’s stringent zero-Covid policy. The

By Laura He, CNN US regulators have gained full access to the audits of Chinese companies for the first time, reducing the threat that tech giants such as Alibaba and JD.com could be kicked off US stock exchanges. The announcement marks a major breakthrough in a yearslong standoff over how Chinese companies listed on Wall