Money

By Matt Egan, CNN Business Amazon said Wednesday that for the first time in company history it will charge sellers a 5% fuel and inflation surcharge. The e-commerce giant said the new fee will begin April 28 and is being imposed because inflation has worsened significantly in recent months. “In 2022, we expected a return

By Chris Isidore and Sara O’Brien, CNN Business Labor unions haven’t had this much success in decades. After years of failed organizing efforts and a long, steady decline in the number of private sector workers represented by unions, two grassroots upstart groups have scored recent victories at two of the nation’s largest employers: Amazon and

By Danielle Wiener-Bronner, CNN Business Food prices keep going up. In the year ending in March, not adjusted for seasonal swings, food prices rose 8.8% — the biggest 12-month increase since the year ended May 1981, the Bureau of Labor Statistics reported Tuesday. Over the past year, virtually every type of food has become more

By Alicia Wallace and Matt Egan, CNN Russia’s war in Ukraine has “redrawn the contours” of the global economy, stoking concerns of recessions and creating an urgent need to “stave off starvation” for hundreds of millions of people around the world, US Treasury Secretary Janet Yellen said Wednesday. In a speech at the Atlantic Council,

By Anna Bahney, CNN Business Home prices have skyrocketed by nearly 20% over the last year and mortgage rates have risen faster over the past three months than they have in decades. But the high cost to buy a home is not the only obstacle prospective buyers are facing. Other hurdles include a lack of

By Anneken Tappe, CNN Business US inflation kept moving higher in March and the Producer Price Index is the latest data point showing the price pressure. The index, which measures what America’s producers get paid for their goods and services on average over time, rose 11.2% in the year ended in March, not adjusted for

By Anna Cooban, CNN Business Germany would plunge into a deep recession if its supply of Russian natural gas was suddenly shut off, the country’s top forecasters warned on Wednesday. The country would lose 220 billion euros ($238 billion) in economic output over the next two years in the event of such a shock, according

By Nicole Goodkind, CNN Business JPMorgan Chase kicked off earnings season Wednesday with some bad news: First-quarter profit fell 42% from a year ago, driven lower by Russia’s invasion of Ukraine, high levels of inflation and supply chain problems. The largest US bank by assets is often viewed as a bellwether for the rest of

By Chris Isidore, CNN Business Travel is booming, and Delta Air Lines boosted ticket prices. That helped the company weather higher fuel costs in the first quarter, and Delta believes it can turn a profit in the second quarter. The company reported an adjusted net loss of $784 million in the first quarter, which was

By Nicole Goodkind, CNN Business Wall Street and private businesses have funneled millions of dollars into anti-union tactics and lobbying, and they’ve gotten what they wanted: Union membership has been on a steady decline in the United States for the past four decades. Now, employees are stepping up their efforts to unionize, most prominently at