Money

By Matt Egan The selloff in the oil market gathered momentum Thursday on growing concerns about weakening demand for gasoline. US oil dropped 2.3% to $88.54 a barrel, the weakest settle since February 2. Brent crude, the world benchmark, fell around 3%. A government report released Wednesday unnerved oil traders by revealing an unexpected build

By Oliver Darcy, CNN Business A Texas judge on Thursday denied a request for a mistrial from the attorney for right-wing conspiracy theorist Alex Jones in a trial that will decide how much in damages is awarded to the parents of a Sandy Hook victim who won a default judgment against Jones. A hearing about

By Oliver Darcy, CNN Business Alyssa Farah Griffin and Ana Navarro, two conservatives who have been extraordinarily critical of former President Donald Trump, were officially announced on Thursday as a permanent co-hosts of “The View.” Co-host Whoopi Goldberg made the announcements during two live segments on the ABC daytime talk show. Griffin said she was

By Allison Morrow, CNN Business Last year was a busy, chaotic one on Wall Street. Mergers, acquisitions and new stock listings were going a mile a minute, underpinned by a generally jolly mood. The economy was bouncing back. Vaccines dimmed the risks posed by Covid. Money was essentially free to borrow. There was a war

By Chris Isidore, CNN Business US airlines just had one of the most lucrative quarters in history. Passengers are suffering for it. The record revenue many airlines reported in April, May and June came via very high airfares and packed airplanes. A series of service disruptions caused by staffing shortages has made flying even worse.

By Chris Isidore, CNN Business Shares of luxury electric car maker Lucid plunged more than 10% Thursday after the company disclosed it will make roughly half the cars this year it had planned to build. The company said it is dealing with the serious supply chain problems that have disrupted other automakers’ production as well.

By Nathaniel Meyersohn, CNN Business Early in the pandemic, people realized they were going to be spending a lot more time at home. So they decided to upgrade. Shoppers dished out for new sofas, beds and decor, remodeled their kitchens and backyards and invested in their remote work setup. Demand was so hot that it

By Matt Egan, CNN Business The Federal Reserve’s war on inflation will eventually kill the economic recovery from Covid-19, former Fed official Bill Dudley warns. The problem is that the Fed began its quest to tame inflation late, leaving the central bank little choice other than to slam the brakes on the economy by drastically

By Sonia Moghe, CNN The accountant now in charge of overseeing right-wing conspiracy theorist Alex Jones’ company Free Speech Systems through its bankruptcy was questioned Wednesday by attorneys for families of Sandy Hook shooting victims over $62 million in funds Jones has drawn from the company over the years. Free Speech Systems, which runs Jones’