By Chris Isidore, CNN Business No matter where you go in the United States, gas prices are uncomfortably high. Filling up a car for $60, $70 or $80 is a painful experience wherever you live. But not all Americans are feeling pain at the pump equally. For example, you might think drivers in California are
Continue Reading
By Paul R. La Monica, CNN Business Even with the pandemic, the stock market enjoyed gains in 2020 and 2021. But is the party on Wall Street over? The Dow fell 230 points, or 0.7%, Friday and ended the week with a 2% loss. The Dow has now lost ground for five straight weeks and
Continue Reading
By Anneken Tappe, CNN Business Trade is about to become a key element of the global response to Russia’s invasion of Ukraine following the array of sanctions that have already been imposed. On Friday, President Joe Biden announced that the United States, along with the G7 nations and the European Union, aim to strip Russia
Continue Reading
By Matt Egan, CNN Business The West is already crushing Russia’s economy. Now a bipartisan group of lawmakers want to limit Vladimir Putin’s access to Russia’s mountain of gold. A bipartisan bill introduced this week aims to ramp up the financial pressure another notch by making it harder for Moscow to use gold to prop
Continue Reading By Matt Egan, CNN Business The West is already crushing Russia’s economy. Now a bipartisan group of lawmakers want to limit Vladimir Putin’s access to Russia’s mountain of gold. A bipartisan bill introduced this week aims to ramp up the financial pressure another notch by making it harder for Moscow to use gold to prop
Continue Reading
By Paul R. La Monica, CNN Business A single share of Amazon and Google owner Alphabet each trades at nearly $3,000 — a pretty high price for average investors. But that will soon change: The companies will split their shares, reducing their stock prices sharply, in the next few months. Could other high-priced blue chip
Continue Reading
By Anneken Tappe, CNN Business American consumers are getting pummeled from all sides: Supply chain constraints and high demand mean delays for products and rising costs. Now gas prices are soaring on the back of the Russia-Ukraine conflict, creating an even more bitter cocktail. An early look at how Americans are feeling about the economy
Continue Reading By Anneken Tappe, CNN Business American consumers are getting pummeled from all sides: Supply chain constraints and high demand mean delays for products and rising costs. Now gas prices are soaring on the back of the Russia-Ukraine conflict, creating an even more bitter cocktail. An early look at how Americans are feeling about the economy
Continue Reading
By Mark Thompson, CNN Business Europe has given itself just five years to break its addiction to Russian oil and gas. European Commission President Ursula von der Leyen said Friday that EU leaders had agreed to spend the next two months drafting proposals for eliminating the bloc’s dependency on Russian energy imports by 2027. “By
Continue Reading
By Samantha Murphy Kelly, CNN Business Instagram is bringing back a version of its news feed that sorts posts in reverse chronological order rather than ranked according to the platform’s algorithms. However, the company said it will leave its algorithm ranking method on by default. The new option, which rolls out to users globally on
Continue Reading
By Clare Duffy, CNN Business Russia’s Investigative Committee has opened a criminal case against Facebook parent company Meta Platforms accusing the company’s employees of “illegal calls for murder and violence” against Russian citizens, according to a statement the committee published Friday. The case follows a temporary change to Meta’s hate speech policy that allows some
Continue Reading
Catherine Thorbecke, CNN Business As technology continues to revolutionize the way people live, work and spend, central banks around the globe have kicked off efforts to reinvent their local currencies for the digital era. Now, the United States is the latest to signal “urgency” in researching a potential digital version of its dollar via a
Continue Reading Catherine Thorbecke, CNN Business As technology continues to revolutionize the way people live, work and spend, central banks around the globe have kicked off efforts to reinvent their local currencies for the digital era. Now, the United States is the latest to signal “urgency” in researching a potential digital version of its dollar via a
Continue Reading
By Beth Braverman You probably already know that you need a good credit score to get the best interest rates on a mortgage or auto loan, which can make a big difference to your budget over time. “With something like a mortgage, even a minor difference in rates can have a big impact on your
Continue Reading
Opinion by Elaine Maag for CNN Business Perspectives Over the past several months, consumer prices have risen across the board, especially for basic needs like food, gas and shelter. And low- and middle-income families are getting hit the hardest. Not only do they spend a larger share of their income meeting basic needs, they tend
Continue Reading
By Mark Thompson, CNN Business Russia’s richest businessman has warned the Kremlin against confiscating assets of companies that have fled in the wake of the invasion of Ukraine, saying such a step would set the country back more than 100 years. Vladimir Potanin, president of metals giant Norilsk Nickel and its biggest shareholder, said that
Continue Reading
By Julia Horowitz, CNN Business Europe’s reliance on energy from Russia has jacked up the odds that the region could enter a recession this year as soaring inflation pushes people to cut back spending. The United States is more insulated from the spike in oil and gas prices — but it’s not immune. What’s happening:
Continue Reading
By Tami Luhby, CNN Business The price of gas has skyrocketed in recent weeks, fueled in part by Russia’s invasion of Ukraine. The hike means that many Americans will have to shell out hundreds of dollars more to fill their tanks. Have you had to make changes to your daily routine, work or social life
Continue Reading
By Chris Isidore, CNN Business As Russia’s economy gets pummeled by increasingly severe western sanctions for its invasion of Ukraine, the country’s crucial airline industry could soon find itself on life support. Russian airlines have been essentially cut off from much of the world. But that is the least of the industry’s problems. Russia’s domestic
Continue Reading
By Charles Riley, CNN Business Goldman Sachs and JPMorgan Chase are the first major Western banks to get out of Russia following the invasion of Ukraine. More are likely to follow at a cost of tens of billions of dollars. Goldman Sachs said Thursday that it is “winding down its business in Russia in compliance
Continue Reading