Money Archives

Columbia contractor charged in Boone County with poor business practices

February 23, 2022 7:26 AM Zachary Farwell

Public court records show the alleged crimes happened between August 2018 and March 2021.

Home prices in the United States increased at the fastest rate on record in 2021. That's drawn in a flood of investors looking to cash in on the boom.

Investors are buying up a record share of US homes

February 23, 2022 7:19 AM CNN Newsource

By Julia Horowitz, CNN Business Home prices in the United States increased at the fastest rate on record in 2021. That’s drawn in a flood of investors looking to cash in on the boom. What’s happening: Investors bought 18.4% of homes sold across the country during the last three months of the year, according to

A man on a delivery bike rides in the street after a winter storm hit New York City

Your delivery orders are making restaurants mad. Now they’re fighting back

February 23, 2022 6:13 AM CNN Newsource

By Danielle Wiener-Bronner, CNN Business Restaurants have a delivery problem. Early in the pandemic, when eateries were forced to shut their doors, delivery became a lifeline. Restaurant operators scrambled to set up delivery channels from scratch or promote ones that previously existed. But there was a reason that many restaurants hadn’t focused on delivery before

Jes Staley speaking during a Bloomberg Television interview at the World Economic Forum in Davos

Barclays freezes ex-CEO’s $29 million bonus as regulators probe links to Jeffrey Epstein

February 23, 2022 6:12 AM CNN Newsource

By Charles Riley, CNN Business Barclays is withholding shares worth as much as $29 million from former CEO Jes Staley, pending the outcome of an investigation by British banking regulators into his relationship with Jeffrey Epstein. The bank said in its annual report published on Wednesday that it has suspended bonus and share payments to

‘We are a gas superpower.’ Ex-Trump regulator says US natural gas can help Europe

February 23, 2022 5:45 AM CNN Newsource

By Matt Egan, CNN Business The decision by Germany to halt the certification of Nord Stream 2 underscores the critical role US natural gas can play on the world stage, former top energy regulator Neil Chatterjee told CNN on Tuesday. “We are a gas superpower. We just need to be able to get it out

Loop is launching in 25 Kroger stores in the Portland metro area.

Pantene and Stubb’s will be sold in reusable containers at some Kroger stores

February 23, 2022 5:22 AM CNN Newsource

By Danielle Wiener-Bronner, CNN Business If you walk into one of 25 Fred Meyer stores in the Portland area this week, you’ll find something unusual. Gathered together at the end of an aisle will be an eclectic assortment of about 20 products, including shampoo and dish soap, barbecue sauce, granola and more. The items are

Asian markets and US stock futures staged a modest rebound on Wednesday

Global markets rebound as West punishes Russia with ‘modest’ sanctions

February 22, 2022 9:27 PM CNN Newsource

By Laura He, CNN Business Global markets are rebounding and oil prices are easing after the United States and its allies hit Russia with only a limited first wave of sanctions over what President Joe Biden described as the beginning of an “invasion” of Ukraine. European stocks surged in early trading after the West kept

The Internal Revenue Service website seen displayed on a smartphone.

IRS now lets taxpayers opt out of facial recognition after backlash

February 22, 2022 3:37 PM CNN Newsource

By Rachel Metz, CNN Business The Internal Revenue Service will continue using controversial facial recognition software for the rest of the current tax-filing season to verify taxpayers’ identities before they can log on to its website. But after facing a backlash, the agency is now offering an alternative, too. The IRS announced Monday that people

Stock futures fell off a cliff Monday evening as tensions rise between Ukraine and Russia.

Stocks slide as Putin orders troops into Ukraine. Oil prices near $100 per barrel

February 22, 2022 3:23 PM CNN

By Laura He and Rob McLean, CNN Business Global stock markets tumbled and crude oil prices surged to $99 per barrel on Tuesday after Russia ordered troops into parts of eastern Ukraine. Wall Street also fell as traders returned from the holiday weekend, but stocks finished off their lows of the day. The Dow briefly

Fire that left cargo ship full of luxury cars stranded in the Atlantic may finally be going out

February 22, 2022 2:15 PM CNN Newsource

By Jennifer Korn and Vanessa Yurkevich, CNN The fire on board the large car-carrying cargo ship Felicity Ace could soon be extinguished because there might not be anything left to burn. The 656 foot-long Felicity Ace roll-on/roll-off car-carrying ship caught fire in the North Atlantic last Wednesday as it carried around 4,000 vehicles, including Porsches,

Slack went down for many users Tuesday morning

Slack went down today, but work wasn’t canceled

February 22, 2022 2:15 PM CNN

By Clare Duffy, CNN Business Slack went down for many users Tuesday morning, throwing off companies that rely on the popular workplace communication platform just as workers returned from the extended holiday weekend. “We’re investigating the issue where Slack is not loading for some users,” the company said on its status page around 9:30 am

The receiving station of the Nord Stream 2 gas pipeline near Lubmin

Germany halts Nord Stream 2 and Russia responds with a stark warning

February 22, 2022 11:39 AM CNN

By Charles Riley and Julia Horowitz, CNN Business The West showed Tuesday it was ready to target Russia’s huge energy industry — even at the risk of hurting itself — after Moscow ordered troops into parts of eastern Ukraine. Germany said it was halting certification of the Nord Stream 2 gas pipeline following Moscow’s actions

Slack went down today, but work wasn’t canceled

February 22, 2022 11:18 AM CNN Newsource

By Clare Duffy, CNN Business Slack went down for many users Tuesday morning, throwing off companies that rely on the popular workplace communication platform just as workers returned from the extended holiday weekend. “We’re investigating the issue where Slack is not loading for some users,” the company said on its status page around 9:30 am

Lithium for batteries is extracted through evaporation in a brine pool in Argentina. This pool is owned by a subsidiary of Neo Lithium

How a battery shortage could threaten US national security

February 22, 2022 11:15 AM CNN Newsource

By Matt McFarland, CNN Business Bob Galyen has spent his career building electric car batteries. And he thinks the United States has a problem. Galyen, who engineered the battery for the General Motors EV1, the first mass-produced electric vehicle, and also served as chief technology officer at a Chinese company that’s the top battery producer

Macy's billboard in front of the Macy's Herald Square store on Oct. 8

Macy’s and Kohl’s get in a knife fight with Wall Street

February 22, 2022 10:39 AM CNN Newsource

By Nathaniel Meyersohn, CNN Business Activist investors are circling Macy’s and Kohl’s. The department store chains are fighting back. Macy’s on Tuesday rejected calls from activist investor Jana Partners to spin off its e-commerce operations after completing a board review of the company’s entire strategy. Jana Partners in October said that Macy’s could double its

A shopper walks through the dairy aisle of a grocery store in Washington

Inflation keeps weighing on consumer confidence

February 22, 2022 10:07 AM CNN Newsource

By Anneken Tappe, CNN Business American consumer confidence slipped again in February, a new report from the Conference Board said Tuesday. The index tracking how Americans are feeling fell to 110.5 this month, a steeper decline than economists had expected and the lowest level since September. The January number was revised down as well. Inflation

Energy price shock from the Russia-Ukraine crisis could hurt the economy

February 22, 2022 9:16 AM CNN Newsource

By Matt Egan, CNN Business As oil rapidly approaches $100 a barrel, JPMorgan warned Tuesday that a spike in energy prices and other ripple effects from the Russia-Ukraine crisis could hurt both the stock market and the economic recovery. “An energy price shock amidst an aggressive central bank pivot focused on inflation could further dampen

A customer walks past plywood for sale at a Home Depot store on May 27

The Dow’s top stock of 2021 is off to a rough start this year

February 22, 2022 8:59 AM CNN Newsource

By Paul R. La Monica, CNN Business Home Depot was the Dow’s best-performing stock in 2021, soaring more than 55% thanks to strong demand from consumers in what was a red hot housing market. But shares are off to a bumpy start this year. Shares of Home Depot have fallen 24% because of fears about

Bahrain's world trade center and the skyline of the capital Manama in December 2020.

The Middle East already has a crypto hub, and it’s not Dubai

February 22, 2022 8:56 AM CNN Newsource

By Eoin McSweeney, CNN When the world’s biggest cryptocurrency exchange decided in December to set up an advisory body in Dubai, local bitcoin enthusiasts celebrated. Binance’s presence would be the jewel in the city’s crypto crown as it tried to position itself as a hub for the digital asset. The crypto exchange’s CEO Changpeng “CZ”

Traders work on the floor of the New York Stock Exchange at the opening bell on February 22 in New York.

Dow falls more than 460 points as Russia-Ukraine worries sink sentiment

February 22, 2022 8:11 AM CNN

By Paul R. La Monica, CNN Business Wall Street’s attempt for a Wednesday rally failed, with stocks closing broadly lower on continued worries about the likelihood of an imminent invasion of Ukraine by Russia. The Dow closed down more than 464 points, or 1.4%, after opening the session higher. It was a broad-based slide, with