Money

By Julia Horowitz, CNN Business The iconic Porsche brand is officially going public despite stomach-churning stock market turbulence that’s frozen out other big deals. Volkswagen first started looking at spinning off the high-performance automaker in February, just as Russia’s invasion of Ukraine jolted investors. In a statement late on Monday, Volkswagen said it had decided

By Chris Isidore, CNN Business Union organizing has shifted into high gear. But despite successful organizing drives at such corporate powerhouses as Starbucks, Amazon and Apple, it’s still an uphill climb for unions seeking to sign up new members. In recent history, those upstart union wins are very much the exception rather than the rule,

By Chris Isidore, CNN Business Over the past year, the nascent labor movements at mighty corporations like Starbucks and Amazon have grabbed national attention. But less well-known is a looming high-stakes clash between one of America’s oldest unions and the world’s biggest package courier. Contract negotiations are set to begin in the spring between UPS

By Anna Cooban, CNN Business Europe’s energy crisis is deepening as Russia further limits exports of natural gas, forcing governments to spend billions to protect businesses and consumers from soaring bills as the region slides towards recession. European benchmark natural gas prices spiked 28% on Monday morning to hit €274 ($272) per megawatt hour —

By Swati Gupta and Michelle Toh, CNN Business Cyrus Mistry, the Indian scion of one of the country’s most prominent empires, died in a road accident on a highway near Mumbai on Sunday, according to Maharashtra police. Mistry, 54, was one of two people who died when the car they were traveling in hit a

By Ramishah Maruf, CNN Labor Day, which recognizes the many contributions workers have made to the prosperity of the United States, also marks the unofficial end of summer on the first Monday in September. Many Americans across the country will be celebrating the long weekend, but it can be confusing to figure out what will

By Brynn Gingras, Liam Reilly, Ramishah Maruf and Samantha Beech, CNN A man who jumped to his death from a high-rise apartment in Manhattan has been identified by the New York City Police Department as Gustavo Arnal. A law enforcement source told CNN Arnal is the chief financial officer of Bed Bath & Beyond. They

By Parija Kavilanz, CNN Business As Sarah Longmore finished her back-to-school shopping, the mother of five looked at a $25 backpack for her preschooler. Soaring inflation had crunched the family’s budget, and she decided her daughter could make do with a hand-me-down. She put the backpack back. Like Longmore, many parents — regardless of income

By Paul R. La Monica, CNN Business Move over, Big Tech: Oil just might be the new FAANG. Energy stocks fell last week as oil prices tumbled. But crude prices are still up almost 20% so far in 2022, making the sector one of the few bright spots in the market this year. (In fact,

By Julia Horowitz, CNN Business Across the United Kingdom, businesses and households are warning that they won’t make it through the winter without help from the government. That sets up enormous challenges for Liz Truss, the incoming prime minister. For months, the United Kingdom has endured a leadership vacuum while the country has skidded toward

By Danielle Wiener-Bronner, CNN Business Forget breakfast, lunch and dinner. People can’t get enough of the in-between. Big companies report that snack sales are soaring. Net sales of Doritos, Cheetos, Ruffles, PopCorners, Smartfood and SunChips grew by double digits in the second quarter. Retail sales of Pirate’s Booty jumped about 32% and SkinnyPop sales increased