Money

By Nicole Goodkind, CNN Brutally high oil and gas prices were the talk of the town in 2022 and one of the largest contributing factors to sky-high inflation. The thing is: When you reach the top, there’s nowhere to go but down. And that’s exactly where oil is going. The price of crude has taken

By Jordan Valinsky and Allison Morrow, CNN Sam Bankman-Fried, the founder of the failed crypto exchange FTX, has agreed to testify before the House Financial Services Committee next week as questions and confusion swirl about the collapse of his companies. On Friday, he tweeted that he’s “willing to testify on [December] 13th,” and said he

By Julia Horowitz, CNN Just two months after UK markets suffered their worst meltdown since the global financial crisis, the British government is promising a major relaxation of financial regulation in a bid to shore up the country’s banking and insurance industries against growing competition from cities such as Amsterdam and Paris. The UK Treasury

By Vanessa Yurkevich, CNN For the past 22 years, the Port of Los Angeles has been the busiest container port in North America, moving around 10 million cargo containers filled with goods for Americans and bringing in roughly half a billion dollars in revenue each year to the state of California. But for the past

By Matt Egan, CNN Despite high inflation and recession fears, the holiday shopping season appears to be off to a strong start. Black Friday and Cyber Monday sales were solid, as Americans were lured by deep discounts. Although consumer spending may be slowing, it remains surprisingly resilient. The problem, however, is that many Americans’ paychecks

By Swati Gupta, CNN India’s ruling Bharatiya Janata Party (BJP) scored a landslide election win in Prime Minister Narendra Modi’s home state of Gujarat on Thursday, in a boost for the leader and his Hindu-nationalist party ahead of the 2024 general election. The BJP took 156 of 182 total seats in the Gujarat state assembly

By Parija Kavilanz, CNN Bourbon brand Jim Beam is offering what could possibly be the weirdest gift for the holidays — hug-simulating pajamas. The unisex red flannel “Kentucky Hug” PJ set looks like your basic comfy plaid pajamas, with one exception. There’s a removable panel that fits around the neck and shoulders. When activated, it

By Chris Isidore, CNN Business Used car retailer Carvana, facing a cash crunch, could be headed towards bankruptcy, according to both published reports and a bearish analyst’s call that slashes its share-price target to $1. In mid-afternoon trading, Carvana, best known for its auto vending machine concept, stands at about $4.60 a share, up on