Opinion by Lisa Osborne Ross for CNN Business Perspectives During a recent visit to Minneapolis, a colleague and I stopped by Cup Foods, the convenience store that served as the backdrop of George Floyd’s murder. It was disheartening to see that, despite our national reckoning on racial justice, not much has changed over the past
Continue Reading By Julia Horowitz, CNN Business For years, ExxonMobil struggled to court investors as fears about the climate crisis and criticism of its business strategy kept would-be shareholders at bay. Now, the oil giant is staging a dramatic comeback. What’s happening: Shares of Exxon climbed above $100 apiece on Tuesday for the first time since 2014.
Continue Reading By Brian Fung, CNN Business Services like Facebook and Twitter could change radically for millions of Americans in the coming years depending on how the courts decide one hotly debated question: Should social media platforms be regulated like railroads? It’s a question that’s gotten increased attention lately as a number of states, including Texas and
Continue Reading Opinion by Lisa Osborne Ross for CNN Business Perspectives During a recent visit to Minneapolis, a colleague and I stopped by Cup Foods, the convenience store that served as the backdrop of George Floyd’s murder. It was disheartening to see that, despite our national reckoning on racial justice, not much has changed over the past
Continue Reading By Matt Egan, CNN Business The Biden administration has issued new investment restrictions that prohibit Americans from buying Russian stocks and bonds. The ban is the latest step by US officials to crank up the financial pressure on Russia in response to Moscow’s invasion of Ukraine. New guidance issued Monday by the Treasury Department explains
Continue Reading By Anna Cooban, CNN Business The growing trend of buying things now but paying for them later is creating a debt trap for many shoppers in the United Kingdom. More than 40% of people in the United Kingdom who opt for such offers — which allow buyers to pay for their purchases in installments, often
Continue Reading By Peter Valdes-Dapena, CNN Business Gas prices that keep going up by the day have got a lot of people thinking about buying an electric vehicle. There is no question that electric vehicles cost much, much less to fuel than gasoline-powered models, especially with gas prices at around almost $5 a gallon on average, according
Continue Reading By Angela Dewan, CNN Members of the European Parliament voted Wednesday to ban the sale of new combustion engine cars by 2035, in what would be one of the world’s strongest laws to phase out gasoline vehicles, if approved by the European Council. While the measure must still be debated by the Council and passed
Continue Reading By David Goldman, CNN Business Vishal Garg, the Better.com CEO who fired 900 employees over Zoom just before Christmas, has been sued by a former executive for allegedly misleading investors. The SoftBank-backed online mortgage company agreed to a $7.7 billion merger with a blank-check firm to take the company public just over a year ago,
Continue Reading By Chris Isidore, CNN Business Another day, another record for US gas prices. The US average for the price of a gallon of regular gas hit $4.96 according to the most recent reading from AAA Wednesday. It marked the 12th straight day, and the 29th time in the last 30 that gas has set a
Continue Reading By Julia Horowitz, CNN Business For years, ExxonMobil struggled to court investors as fears about the climate crisis and criticism of its business strategy kept would-be shareholders at bay. Now, the oil giant is staging a dramatic comeback. What’s happening: Shares of Exxon climbed above $100 apiece on Tuesday for the first time since 2014.
Continue Reading By Kathryn Vasel, CNN Business The strong labor market has given us near record low unemployment, higher wages — and an unfortunate uptick in the number of reports of job seekers getting scammed. “We are definitely seeing job scams,” said Rhonda Perkins, attorney and chief of staff of the Federal Trade Commission’s division of marketing
Continue Reading By Michelle Toh, CNN Business Nike is deactivating its Run Club app in China, becoming the latest Western company to reconfigure its business in the world’s second largest economy. The US sportswear giant posted a notice to runners in mainland China, saying the app will “cease service and operation” there starting July 8. In a
Continue Reading By Frank Pallotta, CNN Business “Jurassic World: Dominion,” the latest film in the Jurassic Park franchise, stomps into theaters this weekend. The sixth film in the dinosaurs-run-amok series could be one of the biggest of the summer — if not the entire year. This shouldn’t come as a surprise. The Jurassic Park franchise has been
Continue Reading By Frank Pallotta, CNN Business “Jurassic World: Dominion,” the latest film in the Jurassic Park franchise, stomps into theaters this weekend. The sixth film in the dinosaurs-run-amok series could be one of the biggest of the summer — if not the entire year. This shouldn’t come as a surprise. The Jurassic Park franchise has been
Continue Reading By Laura He, CNN Business BYD, the Warren Buffett-backed Chinese electric carmaker, plans to supply batteries to Tesla “very soon,” a senior executive from the company told a Chinese state-owned broadcaster. “BYD respects Tesla, and we also admire Tesla,” said Lian Yubo, BYD’s executive vice president, in a video interview with an anchor from CGTN.
Continue Reading By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Sally Buzbee has had enough. The Washington Post executive editor sought to rein in her newsroom with a memo on Tuesday that carried a far firmer tone than her note
Continue Reading By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Sally Buzbee has had enough. The Washington Post executive editor sought to rein in her newsroom with a memo on Tuesday that carried a far firmer tone than her note
Continue Reading By Paul R. La Monica, CNN Business You can add the World Bank to the growing chorus sounding recession alarm bells. In its latest outlook, World Bank president David Malpass said “for many countries, recession will be hard to avoid.” Malpass joins many others on Wall Street and at central banks around the globe who
Continue Reading By Alicia Wallace, CNN Business Americans are continuing to lean on credit cards and loans, as consumer credit surged by $38 billion in April amid the highest inflation in 40 years. The latest Federal Reserve data on outstanding consumer credit, released Tuesday afternoon, comes after March’s record increase of $52.4 billion. That figure has since
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