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
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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
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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
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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
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By Laura He, CNN Business China is struggling to contain an outbreak of Covid-19 in Shanghai despite a 17-day lockdown that is keeping most of its 25 million residents trapped at home. Located on the east coast of China, Shanghai is the country’s biggest and most affluent city and one of the largest metropolises in
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By Michelle Toh, CNN Business One of Apple’s top suppliers is stopping work at its factories in and around Shanghai as the city of 25 million people remains under a strict Covid lockdown. Pegatron announced Tuesday that it had suspended production at its facility in China’s largest city, as well as the nearby city of
Continue Reading By Michelle Toh, CNN Business One of Apple’s top suppliers is stopping work at its factories in and around Shanghai as the city of 25 million people remains under a strict Covid lockdown. Pegatron announced Tuesday that it had suspended production at its facility in China’s largest city, as well as the nearby city of
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The pandemic may be slowing down but renters across the US are facing sharp increases.
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The Labor Department says inflation jumped to 8.5 percent last week and prices are still being affected by a recovering supply chain and increasing consumer demands.
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By Sara Ashley O’Brien, CNN Business The rate of serious injuries at Amazon warehouses in the United States is more than twice as high as those at other, non-Amazon warehouses, according to a new study that examines injury data supplied to the federal agency that oversees workplace safety. Amazon employed 33% of all US warehouse
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By Sara Ashley O’Brien, CNN Business After a historic union victory at an Amazon warehouse in New York City earlier this month, a grassroots labor organization is hoping it can notch a second win at a facility just across the street. Hundreds of Amazon employees at a Staten Island sorting facility known as LDJ5 began
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By Alicia Wallace, CNN Business For many of the nation’s small and independent brewers, this year will prove to be a true test of their staying power. Early data for 2022 shows that brewery closures are on the rise and some sales have been spotty, said Bart Watson, senior economist for the Brewers Association, craft
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By Parija Kavilanz, CNN Business In Kyiv, a group of small business owners are busy at work. There’s a war raging around them and they’re reminded how close the danger is whenever the warning sirens go off in the Ukrainian capital. They describe it as a jarring sound, yet they push through the fear because
Continue Reading By Parija Kavilanz, CNN Business In Kyiv, a group of small business owners are busy at work. There’s a war raging around them and they’re reminded how close the danger is whenever the warning sirens go off in the Ukrainian capital. They describe it as a jarring sound, yet they push through the fear because
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By Brian Fung, CNN Business Apple CEO Tim Cook blasted regulatory proposals by Congress and in the European Union on Tuesday, arguing that legislation aimed at cracking open the company’s app store will hurt user security and privacy. The remarks show how Apple is bringing out its heaviest hitters in opposing government policies that could
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By Matt Egan, CNN Business Turbulence in the oil market continued on Tuesday, with crude prices soaring back above $100 a barrel on concerns about a loss of supply of oil from Russia and signs that lockdowns in China may be easing. US crude jumped 7% to $100.84 a barrel in recent trading. Brent crude,
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By Jeanne Sahadi, CNN Business Last year may be history. But there may still be one thing you can do this week to reduce your 2021 tax bill (or bolster your refund), all while fattening your retirement savings. You have until Monday, April 18 — the official federal tax-filing deadline — to make a 2021
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By Allison Morrow, CNN Business Yelp has joined a growing list of companies supporting abortion access for their employees in the face of state laws that effectively ban it. In a statement Tuesday, the same day Oklahoma’s governor signed a near-total abortion ban, Yelp said it would cover travel expenses for any of its employees
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By Anna Cooban, CNN Business Nokia has announced its exit from Russia, while rival Ericsson is putting its business there on hold indefinitely, throwing into doubt the country’s ability to build super-fast 5G networks. The Finnish telecom company announced on Tuesday that staying in Russia would “not be possible” given President Vladimir Putin’s ongoing assault
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By Frank Pallotta, CNN Business “Stranger Things” is approaching its final run, but it still has some creepy scares left in store. Netflix’s immensely popular science fiction horror series released the first trailer to its fourth season Tuesday. The teaser gives fans their best look yet at the upcoming adventures for the kids from Hawkins
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