Money

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.

Opinion by Abby Maxman for CNN Business Perspectives Forces like climate change, Covid-19 and geopolitical conflict were already spurring a global food crisis. But now the war in Ukraine has made a dire situation even worse. In this world of plenty, 811 million people are going to bed hungry at night and 44 million people

By Chris Isidore, CNN Business The CEO of Ryanair let loose a scathing, obscenity-laden attack on Boeing management Monday, saying company executives need either an immediate “reboot, or a boot up the a**.” “At the moment we think Boeing management is running around like headless chickens, not able to sell aircraft, and then even the

By Nicole Goodkind, CNN Business The first rule of running the Federal Reserve is: You do not criticize the Federal Reserve. An unspoken edict amongst former Fed chairs has been to not speak ill of their successors to preserve the apolitical nature of and trust in the institution. But former Fed Chair Ben Bernanke broke

By Nathaniel Meyersohn, CNN Business Walmart is creating a new program to fast-track recent college graduates into store manager positions — salaried roles that pay upwards of $200,000 a year. Facing a competitive labor market, Walmart is piloting a “College2Career” training program open to recent college graduates and current students set to graduate that aims

By Paul R. La Monica, CNN Business Stocks have been tumbling all year. The Nasdaq, down nearly 25% in 2022, is in a bear market. The S&P 500 is on a six-week losing streak and about 16% below its all-time high. But could stocks still have a lot more room to fall? Some would argue

By Matt Egan, CNN Business Prices at the pump continue to shatter records ahead of Memorial Day weekend. The national average for regular gas hit a fresh record of $4.48 a gallon Monday, according to AAA. That marks an increase of 15 cents in the past week and 40 cents in a month. Gas prices

By Jeanne Sahadi, CNN Business Divorce. Job loss. Business failure. Eviction. Bankruptcy. Poverty. Few people get through life without experiencing a financially traumatic situation of some kind — whether as a child watching your parents go through it or experiencing it yourself as an adult. Look no further than the pandemic to see countless recent

By Nicole Goodkind, CNN Business Wide leg jeans, butterfly clips and half-point rate increases: The 1990s are back. Earlier this month Federal Reserve chair Jerome Powell announced a half-percentage-point increase in interest rates, the largest hike in over two decades. Powell also indicated that he wouldn’t hesitate to do it again — a move straight

By Allison Morrow, CNN Business Goldman Sachs, fighting a war for talent amid scrutiny of the bank’s notoriously grueling work culture, is implementing a more flexible vacation policy to help staff “rest and recharge.” Senior bankers will now be able to take as many vacation days as they need, Goldman Sachs said in a memo

By Julia Horowitz, CNN Business US banks had a stellar run in late 2020 and 2021. Stocks in the sector soared roughly 80%, powered by the strong economic recovery and the promise of higher interest rates, which would allow them to make more money on loans. Now, it’s like the rally never happened. Bank shares