Money

By Jordan Valinsky, CNN Business Fred Franzia, the man behind “Two Buck Chuck” and other value-priced wines that revolutionized the industry, has died. He was 79. Bronco Wine Company, the 49-year-old company he helped create with his brother and cousin, announced his death on Facebook, writing that it’s “truly saddened by the passing of its

By Nicole Goodkind, CNN Business Investors are getting spooked that the Federal Reserve’s aggressive interest rate hikes could damage the US economy (just look at Tuesday’s selloff). One area of growing concern: housing. Interest rate hikes can lead to higher mortgage rates, which could cause people to think twice about buying a home. So far,

By Alicia Wallace, CNN Business Weather has long been a fickle farmhand, devastating fields one year while delivering bountiful harvests the next. But as extreme weather events increase in frequency or become even more intense, the unpredictability is becoming more of an economic liability. As the United States continues to battle high inflation, the effects

By Michelle Toh and Julia Horowitz, CNN Business Markets steadied early Wednesday after US stocks logged their worst day since June 2020, plunging on news that inflation in August was higher than expected. Shares in Europe were mixed. Germany’s DAX dropped 0.2% in early trading, while France’s CAC 40 was flat. The FTSE 100 in

By Uliana Pavlova, CNN Russian businessman Ivan Pechorin, the top manager for the Corporation for the Development of the Far East and the Arctic, has been found dead in Vladivostok, the latest in a string of mysterious deaths among Russian executives. “On September 12, 2022, it became known about the tragic death of our colleague,

By Peter Valdes-Dapena, CNN Business Ferrari has unveiled the first four-door production vehicle the legendary Italian automaker has ever produced. It has a long hood that houses a gasoline engine and a single large area behind that which holds seats for four people and space for plenty of cargo. It’s also a four-wheel-drive vehicle. But,

By Oliver Darcy, CNN Business A lawyer representing Sandy Hook families that have sued right-wing conspiracy theorist Alex Jones asked a jury on Tuesday to “send a message” to the public with its decision in a Connecticut trial that will determine how much money the plaintiffs receive. The trial is taking place a month after

By Anna Cooban, CNN Business Royal wills are never made public. That means what happens to much of the Queen’s personal wealth following her death last week will remain a family secret. Forbes estimated last year that the late monarch’s personal fortune was worth $500 million, made up of her jewels, art collection, investments and

By Paul R. La Monica, CNN Business Prices at the pump have fallen along with the cost of a barrel of crude oil. But the CEO of Chevron, one of the world’s largest energy companies, thinks consumers in the United States should be prepared for a shock when they get home heating bills this winter.