Money

By Paul R. La Monica, CNN Business Investors clearly didn’t want to go into the upcoming three-day weekend holding onto financial stocks. The Dow fell a little more than 200 points, led by a steep fall in shares of JPMorgan Chase and other big banks. The Dow closed 0.6% lower on Friday. The index is

by Alison Kosik, CNN Two of the biggest retail pharmacies in the U.S. are temporarily closing some stores and pharmacies on the weekends as the latest surge in Covid-19 causes staff shortages. Walgreens said that, like many industries, this latest surge in the Omicron variant is placing a significant strain on its business in the

By Nathaniel Meyersohn, CNN Business “I am not happy!” “Does NOT sit right with me.” “Calamity.” “Sick to my stomach.” Dollar Tree’s recent decision to end $1 prices after 35 years and raise most items at stores to $1.25 has elicited an angry response from many loyal customers on Twitter, Facebook, TikTok and YouTube. Video

By Yvette Killian, CNN Legendary journalist Carl Bernstein has a message for reporters: “It’s not rocket science.” Bernstein is referring to the basics of newsgathering — the tools and skills reporters use to assemble facts, tell stories. “Today, we see how much reporting — if it’s called that — is done from people looking up

By Anneken Tappe and Nathaniel Meyersohn, CNN Business Consumers are getting grumpy about inflation, Omicron and a host of other challenges. That’s not a good sign for the US economy. Americans shopped less in December, causing the first drop in retail sales since the summer. Sales dropped 1.9% compared with November, adjusted for seasonal swings,

By Julia Horowitz, CNN Business Tech stocks have been plunging as Wall Street obsesses over the Federal Reserve’s next moves and how aggressively it will hike borrowing costs over the next 12 months to rein in inflation. But attention could soon shift elsewhere as corporate earnings season arrives, delivering a distraction from the economy and

By Paul R. La Monica, CNN Business The Main Street and Wall Street gap is widening again. Big banks had a stellar end to 2021 with rates on the rise. Yet many Americans are hurting from surging prices and burnout from the Covid-induced labor shortage. JPMorgan Chase posted strong results for the fourth quarter Friday,

By Michelle Toh, CNN Business Indian billionaire Mukesh Ambani is going big on green energy. His conglomerate, Reliance Industries, announced Thursday that it would allocate a whopping 6 trillion rupees (approximately $80.6 billion) to renewable power projects in the western Indian state of Gujarat, where it hopes to help generate a million new jobs. The

By Julia Horowitz, CNN Business The world needs more electricity. That will mean severe climate damage, unless something changes soon. A report published Friday by the International Energy Agency found that global demand for electricity surged 6% in 2021, fueled by a colder winter and the dramatic economic rebound from the pandemic. That drove both

By Manveena Suri, Swati Gupta and Rhea Mogul, CNN At least nine people were killed and 36 others injured after a passenger train derailed in India’s West Bengal state late Thursday, according to the railway operator. Indian Railways spokesperson Rajesh Bajpai said four out of 12 carriages on the interstate express train veered off the

By Vanessa Yurkevich, CNN The nation’s largest industry trade groups are calling the US Supreme Court’s decision to block US President Joe Biden’s vaccine or testing requirement for businesses a victory for employers. On Thursday, the Supreme Court froze a lower court opinion that allowed the mandate to go into effect nationwide. The Biden administration’s

By Anna Bahney, CNN Business In the second big jump of 2022, mortgage rates again rose to a high not seen since the start of the pandemic. The 30-year fixed-rate mortgage averaged 3.45% in the week ending January 13, up from an average 3.22% the week before, according to Freddie Mac. It’s the highest the