By Nadeen Ebrahim, CNN As Russia faces unprecedented sanctions on virtually all sectors of its economy, it may have to turn to a trusted ally with more than four decades of experience with Western embargoes. Until the Ukraine war, Iran was the most sanctioned country in the world, according to Castellum.Ai, which tracks sanctions. Russia
Continue Reading By Nadeen Ebrahim, CNN As Russia faces unprecedented sanctions on virtually all sectors of its economy, it may have to turn to a trusted ally with more than four decades of experience with Western embargoes. Until the Ukraine war, Iran was the most sanctioned country in the world, according to Castellum.Ai, which tracks sanctions. Russia
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By Peter Valdes-Dapena, CNN Business People love that “new car smell.” For most cars and SUVs, it’s a mixture of plastics, stain resistant fabrics and maybe some actual leather, as well. It’s a complex olfactory chorus of odors that elicits an emotional response. At car companies like Nissan there are professionals part of whose job
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Unemployment claims in the state of Missouri took a substantial jump in the latest report, showing 10,108 new claims for the week ending on April 9.
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Opinion by Sean Griffin for CNN Business Perspectives The Walt Disney Company has had a messy few weeks. First, it experienced backlash over its failure to condemn Florida’s new “Don’t Say Gay” law, which will ban schools from teaching students in the third grade and below about gender identity and sexual orientation. Then CEO Bob
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By Veronica Stracqualursi and Betsy Klein, CNN President Joe Biden on Friday announced his intent to nominate former Obama Treasury official Michael Barr as the vice chair for supervision of the Federal Reserve, a move that would install a key architect of the Dodd-Frank Act of 2010 as the nation’s top banking regulator. The announcement
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By Michelle Toh, CNN Business Chinese officials are grappling with the economic distress caused by their Covid-19 restrictions, as several cities remain in lockdown, according to the head of a European trade group. Jörg Wuttke, president of the European Union Chamber of Commerce in China, said in an interview with CNN Business on Thursday that
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By Hannah Sarisohn, CNN New Jersey will begin adult recreational cannabis sales and use starting next Thursday, according to a release from the state’s cannabis regulatory commission. According to the release, the commission will issue licenses to seven alternative treatment centers — including 13 retail dispensaries. Early last year, Gov. Phil Murphy signed the legislation
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By Brian Stelter, CNN Business David Zaslav, the longtime leader of Discovery, sketched out his vision for the newly formed Warner Bros. Discovery in his first global town hall with the new company’s employees on Thursday. Zaslav spoke from the iconic Warner Brothers movie studio lot in California and was seen by employees around the
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By Rachel Metz, CNN Business Two top House lawmakers on Thursday began probing ID.me, a company that uses facial recognition technology to verify identities for many state and federal agencies, into the “efficacy, privacy and security” of its services and products. The move, which comes months after the IRS halted a plan to require taxpayers
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By Clare Duffy, CNN Business Twitter said Monday it has agreed to sell itself to Elon Musk, who will take the company private in a deal valued at around $44 billion. The deal caps off a whirlwind news cycle in which the Tesla and SpaceX CEO became one of Twitter’s largest shareholders, was offered and
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By Alicia Wallace, CNN Business For many of the nation’s small and independent brewers, this year will prove to be a true test of their staying power. Early data for 2022 shows that brewery closures are on the rise and some sales have been spotty, said Bart Watson, senior economist for the Brewers Association, craft
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By Brian Fung, CNN Elon Musk defended his offer to purchase Twitter on Thursday, saying during an on-stage interview at the TED conference that he sees the acquisition as nothing less than a turning point for civilization. Musk said the proposed deal is not about the economics of Twitter’s business, but about ensuring Twitter remains
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By Clare Duffy, CNN Business Ten days after Elon Musk disclosed he’d become Twitter’s largest shareholder, the world’s richest man has made an offer to buy the company outright. Musk on Thursday offered to acquire all the shares in Twitter he does not own at a valuation of $41.4 billion, according to a filing with
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By Anneken Tappe, CNN Business Americans are feeling slightly better about the economy again, in part because they believe the worst of the latest surge in gas prices is behind them, consumer sentiment data showed Thursday. After an initial jump in energy costs in response to the military conflict in Ukraine was felt at US
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By Alicia Wallace and Vanessa Yurkevich, CNN A weeklong protest by Texas Gov. Greg Abbott against President Biden’s recent immigration policy reached a resolution on Friday, but the gridlock it created has resulted in hundreds of millions of lost dollars and delays in shipments of everything from avocados to automobile parts that will have a
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By Kunyi Yang The road to financial independence is not easy, and usually requires patience and diligence early on. For young people still trying to establish their careers, focusing on retirement or saving for the future may not seem like a top priority. But making the wrong money moves early on can be costly. Here
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By Anna Cooban, CNN Business The European Central Bank still won’t say when it might start raising interest rates, even as inflation surges to another record high. Given war in Ukraine, as well as a Covid surge in China, it wants to keep its options open. The ECB reiterated on Thursday that it would only
Continue Reading By Brian Fung, CNN Elon Musk defended his offer to purchase Twitter on Thursday, saying during an on-stage interview at the TED conference that he sees the acquisition as nothing less than a turning point for civilization. Musk said the proposed deal is not about the economics of Twitter’s business, but about ensuring Twitter remains
Continue Reading By Anna Cooban, CNN Business The European Central Bank still won’t say when it might start raising interest rates, even as inflation surges to another record high. Given war in Ukraine, as well as a Covid surge in China, it wants to keep its options open. The ECB reiterated on Thursday that it would only
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