Money

By Alex Stambaugh, Julia Horowitz and Michelle Toh, CNN Business The West’s biggest economies on Friday agreed to impose a price cap on Russian oil in an attempt to reduce Moscow’s ability to fund its war in Ukraine without further stoking global inflation. Finance ministers from the G7 group of countries — the United States,

By Hilary Whiteman, CNN Australia shut its borders for more than two years during the pandemic, but it also blocked access to potential workers and it’s desperate to have them back. On Friday, the government boosted its permanent migration numbers to 195,000 from this financial year — a rise of 35,000 people. Employers are hopeful

By Paul R. La Monica, CNN Business New month. Same old market volatility. Stocks rallied at the end of first day of September, which is historically the worst month for stocks. The Dow and S&P 500 snapped four-day slides but the Nasdaq is now on a five-day losing streak that started with the market’s swoon

By Alicia Wallace, CNN Business The US economy shrank in the first half of the year, consumer sentiment plunged amid high inflation and unrest overseas, and some of the biggest names in business have cut thousands of jobs — but America’s labor market hasn’t skipped a beat. US employers announced just 20,485 layoffs in August,

By Kate Trafecante and Alicia Wallace for CNN Business Weekly jobless claims fell to the lowest level since late June as employers appear reluctant to part with workers in a tight labor market. According to a report from the US Department of Labor, 232,000 Americans filed first-time unemployment claims in the week ending August 27,

Opinion by Gideon Maltz for CNN Business Perspectives One year ago, the world collapsed for Sayed Kabir Kamall, an Afghan of Uzbek heritage. Kabir had worked in procurement for the US embassy in Afghanistan and, in his spare time, was a popular musician, recording music in support of the Afghan military. But by August 15,

By Zayn Nabbi and Anna Cooban, CNN Business More than two in five Black, brown and minority ethnic workers in the United Kingdom say they have faced racism on the job, according to a new study. 41% of those workers “faced racism at work in the last five years,” according to a report published Wednesday

By Anna Chernova, Frederik Pleitgen, Chris Liakos and Julia Horowitz, CNN Business The chairman of Russian oil and gas giant Lukoil has died after falling out of the window of a hospital in Moscow, according to Russian state media. “The man fell out of the sixth-floor window and died as a result of his injuries,”

By Anna Cooban, CNN Business A leading British retailer plans to feed 88,000 workers over the winter to help them cope with the surging cost of living. John Lewis Partnership — which owns supermarkets, departments stores and provides banking services — announced on Wednesday that it would offer free food to all employees, including temporary

By Nicole Goodkind, CNN Business Markets are hard to predict right now, and that’s raising a question for some on Wall Street: Does a common measure of volatility actually work the way it should? Traders don’t have a crystal ball to measure the level of risk when they make investment decisions. Instead they depend on

By Frank Pallotta, CNN Business After much anticipation, “The Lord of the Rings: The Rings of Power” finally debuts on Amazon Prime Video on Friday. It represents one of the biggest bets in streaming history. The series, which takes place thousands of years before the events of J.R.R. Tolkien’s “Lord of the Rings” trilogy, is