Money

By Paul R. La Monica, CNN Business Warren Buffett’s Berkshire Hathaway has been a top investor in Wells Fargo for the past few years, despite the company’s fake account scandal, overcharging foreign-exchange customers and myriad other problems. Now, the Oracle of Omaha has finally thrown in the towel. Berkshire Hathaway disclosed late Monday that it

By Jordan Valinsky, CNN Business New York Mayor Eric Adams is begging the city’s business leaders, including JPMorgan CEO Jamie Dimon, to ride the subway to work. Adams is pushing to bring people back to New York offices after years of working from home. “We’re going to get him on a train,” Adams told the

Opinion by Kevin Johnson and Mark Ruffalo for CNN Business Perspectives As energy tensions continue to rise in Europe amidst the war in Ukraine, Americans are feeling the effect at home. Russia shut off natural gas supplies to Poland and Bulgaria last month, and the European Union recently proposed a ban on Russian oil imports.

By Anna Bahney, CNN Business Home prices are at record highs and still rising, but there are some early indications that the market may be starting to cool. For sellers looking to get top dollar for their home, the time to sell is now. But homeowners are still holding back from listing their homes, said

By Julia Horowitz, CNN Business West Texas Intermediate crude, the reference point for US oil prices, usually trades at a discount of a few dollars to Brent crude, the global benchmark. But this morning, the near-term futures contracts for WTI and Brent are both roughly $115 per barrel — an indication of how the market

By Matt Egan, CNN Business Nestlé is rushing baby formula into the United States via airfreight in a bid to ease a nationwide shortage that is unnerving parents around the country. In a statement to CNN on Tuesday, Nestlé said it is flying in some baby formula produced outside the United States, including Gerber Good

By Paul R. La Monica, CNN Business Home Depot has a message for all of the economic naysayers: Hold my plywood. The home improvement retail giant reported better-than-expected gains in sales and earnings for the first quarter Tuesday and lifted its outlook for the rest of this fiscal year. Shares of Home Depot, one of

By Nathaniel Meyersohn, CNN Business Inflation is weighing on everyone — even the world’s biggest stores. Walmart said Tuesday that higher costs and supply chain constraints squeezed its profit during its latest quarter. Walmart also slashed its profit outlook for the year, signaling that it expects inflation to continue to hurt its business. “Bottom-line results

By Jeanne Sahadi, CNN Business Unless someone else does your shopping and manages your money, it’s impossible to miss the signs of inflation on your expenses. For retirees — especially those on a fixed income — high inflation can really bite. If you’re retired, we’d love to hear how inflation is affecting your household spending

By Parija Kavilanz, CNN Business Weddings typically aren’t the occasion to throw convention to the wind, but some brides are doing just that with at least one centerpiece of their nuptials — the white wedding dress. Among wedding trends heating up, sellers have noted a surge in interest in black bridal gowns. According to Google

By Laura He, CNN Business Shanghai posted zero car sales last month as China pressed ahead with its stringent pandemic control measures. The biggest metropolitan area in China, home to 25 million residents, has been under a strict lockdown for seven weeks. Authorities have ordered people to stay at home and shut down many businesses,

By Jeanne Sahadi, CNN Business California’s efforts to mandate board diversity have been dealt another blow. Late last week, a California judge in the Superior Court of Los Angeles ruled that the state’s 2018 law requiring public companies headquartered in California to have a minimum number of women on their board violates the state’s constitution.